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The markets had a bit of a roller coaster move yesterday. The open was right about at the peak of the early huge drop most coasters have. The rest of the day was essentially the drop. With strong gains early on thanks to the record breaking gap open, the gains were all wiped out on the drop. Whether it was due to the looming government shutdown or if it was in regards to the Bannon news, it was alarming to see how huge of a drop from the highs it was. That just hasn’t happened in 2018 and most of December. It wasn’t allowed! Now that it has happened, buyers do have to be cautious of the Govt shutdown. Basically, if you buy a stock name this week, you’re betting that there will be a deal made before the deadline. Otherwise we have to expect more of the same as yesterday on a slightly larger and longer scale. I would gladly welcome a drop in the markets. The majority would not and that is fine with me also. I’ll be looking to buy the dip but don’t expect me to pursue anything aggressively. Not if a deal isn’t made by the deadline. If the deal is made then all bets are off!  Open Position: VFC LOW TWX VOYA  Stocks to Watch: TWTR CTXS NTAP JBL HLF WFC  JPM MS NFLX WDC DIS SBUX STZ NKE LULU CREE VZ T HOG MON YUM LOW HD LEN TOL FEYE PANW FFIV

0 74

Can a week of record breaking trading sessions at the all time highs continue? The answer is “heck yes” and “duh”. The rally is real and I expect a blowout month of gains as earnings plus portfolio positioning will lead us higher. I’m fully expecting the markets continue to rally strong this week. If there is any pullback or negative day, expect buyers to rush in and rally us back. We are preconditioned to buy right now and not much is shaking that sentiment. Continue to buy with confidence folks. We’re not slowing down anytime soon. Open Position: VFC LOW KLAC SPLK HAL TOL AMP VOYA Stocks to Watch: TWTR CTXS NTAP JBL HLF WFC  JPM MS NFLX WDC DIS SBUX STZ NKE LULU CREE VZ T HOG MON YUM LOW HD LEN TOL FEYE PANW FFIV

0 87

It took all of one day to recover and explode to new record highs. It was pretty easy to see as the previous session basically recovered the intraday losses throughout the latter part of the session. The buying yesterday was persistent and strong. Stocks like BA and CAT helped drive the DJI into the close. In fact, all three major markets closed AT THE HIGHS. It’s almost insane to me that we just blatantly made a run at the end to the highs. No risk off, JUST RISK ON. That is not normally okay but it is now. We’re probably going to have another day of gains and frankly have the DJI hit 26k faster than when it did from 24k to 25k(which was historically the fasted 10k gain ever). I thought 2018 would be a bit slower in terms of gains and trend than 2017. At this rate, we’re going to outgain last years totals by Valentine’s Day. Long live the Perma-Bull!  Open Position: VFC LOW KLAC SPLK HAL TOL AMP VOYA Stocks to Watch: TWTR CTXS NTAP JBL HLF WFC  JPM MS NFLX WDC DIS SBUX STZ NKE LULU CREE VZ T HOG MON YUM LOW HD LEN TOL FEYE PANW FFIV

0 84

Well there it was ladies and gentlemen. The ever elusive down day for the markets. Sure didn’t feel like it though. The DJI finished well off the lows for the session. Bounced for over a hundred points and the others followed suit. Even on these smaller down days, buyers are already looking to buy without concerns. While that is basically the behavior of uptrends, it’s getting to the point where a 1% retracement is shocking. The buyers continue to buy and sellers continue to cheerlead on the sidelines. It remains a one-sided market for now. Buy with confidence. Open Position: VFC LOW KLAC SPLK HAL TOL AMP VOYA Stocks to Watch: TWTR CTXS NTAP JBL HLF WFC  JPM MS NFLX WDC DIS SBUX STZ NKE LULU CREE VZ T HOG MON YUM LOW HD LEN TOL FEYE PANW FFIV

0 88

Once again the markets remained on their vertical ascent yesterday. The DJI led the way once again as some DJI names have broken out at their all time highs. With a lot of stop orders hit in conjunction with buyers piling risk on at the same levels led to strong breakout gains in some names. Tech struggled for gains as the COMP was the weakest of the three major markets. At some point the markets are going to have a down day across the board. However that may not come until weeks from now. I’m kidding of course but the markets are sure trading like we won’t be having down days for awhile. Expect a pullback soon but be prepared to use that as a buying opportunity for the short term. Open Position: VFC LOW KLAC SPLK HAL TOL AMP VOYA Stocks to Watch: TWTR CTXS NTAP JBL HLF WFC  JPM MS NFLX WDC DIS SBUX STZ NKE LULU CREE VZ T HOG MON YUM LOW HD LEN TOL FEYE PANW FFIV

0 89

It was a bit of a slow start for the markets to kick off the second week of trading for the year. All 3 major markets were in the red until a small midday rally took place. The DJI did succumb to the sellers to finish in the red, but the COMP and SPX finished in positive territory. I expect the 3 major markets to try and rally again. Maybe we can start calling it “Turnaround Tuesday” again if we have the one market that finished in the red rally back. Not much else to harp on at the moment. Red usually has meant buy the dip opportunity and that is what I am expecting this week. Open Position: VFC LOW KLAC SPLK HAL TOL AMP VOYA Stocks to Watch: TWTR CTXS NTAP JBL HLF WFC  JPM MS NFLX WDC DIS SBUX STZ NKE LULU CREE VZ T HOG MON YUM LOW HD LEN TOL FEYE PANW FFIV

0 104

After a record setting opening week of trading, investors have to wonder what is in store in the near future. Well I can say this with confidence. Expect many more record days to come. I honestly believe we have a strong few weeks before we plateau. While a correction of any kind is not out of the question here, I suspect buyers will continue flooding the markets on any small pullback. Nothing will change for the time being and that should allow you to buy with confidence. While I still feel shorter term holding will be the best approach at the moment, playing the trend is clear and cut right now. Don’t overthink the situation at hand. There’s nothing to slow down the markets right now. Open Position: VFC LOW KLAC SPLK HAL TOL AMP VOYA Stocks to Watch: TWTR CTXS NTAP JBL HLF WFC  JPM MS NFLX WDC DIS SBUX STZ NKE LULU CREE VZ T HOG MON YUM LOW HD LEN TOL FEYE PANW FFIV

0 56

ATTEMPTED DIRECTION:        BUYER    or    SELLER

1) Rotation                                                   Buyer

2) Range Extension                                      Buyer

3) Public went home as a…                         Buyer

4) Buying-Selling Tails                                Buyer

5) Open in Bull or Bear Range                    Buyer

ATTEMPTED DIRECTION: …Bullish

Comments:  This shows a bullish bias with a “trending” profile.

 

ATTEMPTED PERFORMANCE:

1) Today’s ES volume compared to prior day & 5-day average

Today           (1.077 million) … LOWER vs. the prior day

5-day Avg.   (1.051 million) … HIGHER vs. the average

2) Value Area: Higher

       

3) VA Width: Wider

COMMENTS:  The VA placement was higher and wider vs. the previous day’s VA with lower volume.

 

Monthly Trend = Bullish

Weekly Trend = Bullish

Daily Trend = Bullish

                                                                                                                                

POTENTIAL RESULTS: No economic data will be released after the open. It’s still trending higher.

 

(HVA)Support =     2726.50 to 23.75, 2696.00 to 94.00, 2689.00 to 84.00

(HVA)Resistance = … none

* Indicates important “chart levels” that are not HVAs.

Please use the pivot calculator in the “shared folder” for all of today’s pivots.

…  Follow @NoteFromThePit for important tradable news tweets!

 

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0 112

It was another day of blowout records in the markets. The DJI and SPX had strong range extension while the COMP played the laggard. The COMP did have nice early gains but slowly started to drift lower throughout the trading session. However, I don’t believe there will be anything to fear. While normally we would see some risk off trading at the end of a bull trend week, I think we open trading to another new record high and we will continue our ascent. It’s the first week of trading for the new calendar year and I think big money is still trying to park their money into equities. We may see the spillover into next week although I believe it will be much slower. Look for the bull trend to continue today ladies and gentlemen. Continue to buy with confidence. Open Position: VFC LOW KLAC SPLK HAL TOL AMP VOYA Stocks to Watch: TWTR CTXS NTAP JBL HLF WFC  JPM MS NFLX WDC DIS SBUX STZ NKE LULU CREE VZ T HOG MON YUM LOW HD LEN TOL FEYE PANW FFIV

0 183

The first trading day of the year brought new record highs in the markets. The Nasdaq and SPX closed at record highs to start off the year. The COMP almost out gained the DJI which was the clear laggard yesterday. While the DJI was up triple digits early on in the session, it slowly slumped until a late day rally brought it back to triple digit gains. Even with the POTUS mentioning how much bigger and better his “red button” is(his reference to nukes) in response to NK, I stop expect the markets to continue its rally. Look for buyers to continue buying this week. Then we lead I to earnings which could help propel the markets even higher. Without much stopping the markets right now(including the threat of nuclear warfare), there really is only up and sideways for investors it seems. Open Position: VFC LOW TJX SPLK FL HAL ROKU TOL Stocks to Watch: TWTR CTXS NTAP JBL HLF WFC  JPM MS NFLX WDC DIS SBUX STZ NKE LULU CREE VZ T HOG MON YUM LOW HD LEN TOL FEYE PANW FFIV

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