I do. Price bounced 13% off support this week. Price action in the S&P 500 index last week was a repeat of the prior week; big range, testing lower and closing near the high of the weeks range. This is bullish, however, price can't seem to bust back up through resistance at 268 SPY. The weekly chart from late 2016 will give you a nice visual of the calm market of 2017 compared to the craziness so far this year. I still expect volatility to be present through Q2. Continue to … [Read more...]

The weekly chart of SPY shows a pretty flat close again. If price continues to compress it will build pressure for a likely large breakout...one way or the other. S&P500 Index ETF (SPY) weekly ​​​ Nothing much going on with price action except a little testing of directional strength for which there is none...SPY, DIA, QQQ. Let's get rid of a couple of losers. ETFMG Alternative Harvest ETF (MJ) daily​​​​ MJ just can't catch a bid. I recommend selling it. Freeport- … [Read more...]

It would have been a good week to hit the snooze button. Stock Market Land was nice and boring last week with a slight upward bias. DIA failed at resistance (248.48) on Tuesday and turned down for the rest of the week but managed to close higher than the previous week. SPDR Dow Jones Industrial Average ETF (DIA) daily ​​​​​​ XLE was a big mover again last week. Gaining almost 3% it managed to clear resistance at $72, closing the week at $73.30. SPDR's Select Sector Energy ETF (XLE) … [Read more...]