Monday, July 18, 2016

Thursday, July 7, 2016

Brexit has been erased

BREXIT was a big deal a week ago but it did little to move the market. The initial sell off seemed like this is what the market has been waiting for to crash. Take a look at the chart today and it seems like BREXIT never happened, but the problem is it did happen.

As for its impact on the markets, I do not know if it has any significant impact on the US economy or even the the British economy, maybe it does. Anyone trading or watching this market for the last 6-7 years would know that this is a bull market which means that every dip is a buying opportunity and that is what just happened in my opinion. There probably are a wast number of traders who started their trading careers during this period of the bull market and hence it is probably their one good strategy to buy any sell offs or dips.
As for NDX I think it has to overcome $4462 to continue the uptrend.

Monday, June 13, 2016

US Retail Sales (MoM) (May)

Tomorrow 12:30  Tues, JUN 14

The "retail control group", published by US Census Bureau, represents the total industry sales that are used to prepare the estimates of PCE for most goods.

Wed, JUN 15
18:00    US Fed Interest Rate Decision

Saturday, June 11, 2016

NDX breaks out of the consolidation pattern today

For the last two weeks the index has been in consolidation mode, moving in a range closing up one day and down next, it must have frustrated the traders who were either long or short not letting either side be a winner. But it is the pattern that most markets follow a sharp move up or down, followed by a period of consolidation before the next move up or down. Today we saw exactly that move down after finding support at that level several times but once it broke it fiercely moved down, now we might see a move towards the 50 DMA at 4420.

Friday, June 3, 2016