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Daily Reflection: 07.19

Looking for a move on the S&P to 1051. The line in the sand for tomorrow, bullish above Monday’s highs on the S&P, bearish below, hence we will use a break ABOVE Monday’s high to cover shorts, and a break BELOW Monday’s low to cover any longs.

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Wk28: Market Recap

An Inverted hammer on the weekly top line figures, once again on stronger volume. The trend thus far this year has been lighter volume on the rallies as compared to the declines. The general daily trend channel can be seen below. Chop between the upper and lower support and resistance level is possible, we’ve been seeing nice conditions for swing trade setups and great intraday trading.

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Wk29: Market Forecast

In the week ahead look for these news announcements to act as potential market movers… While economic news is light, we are in the thick of earnings season so expect wild price action and a lot of opening gaps. Remember, gaps tend to fill so fading the opening move is typically the first trade of the morning from an intraday perspective. We are expecting some sideways action, but will be watching out for a potential reversal forming a higher low.…

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Daily Reflection: 07.12

Welcome back. Last week posted the biggest gain in the markets this year. Volume however was extremely light. We are getting in to earnings season with Alcoa (AA) kicking things off tonight after the bell. Things could get choppy as we tend to gap at the open throughout big earnings announcements like GOOG, MSFT, CSCO, etc. Keep your eyes peeled.

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4th of July Hiatus

We will be taking some time off for the holiday festivities including a trip to the big easy. We will return on July 12th. In the mean time we’re expecting fireworks in the market as 995 remains our target on the S&P.

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