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Daily market analysis, live webcasts and world-class articles from real traders.
June 21, 2021 | No Comments
Friday saw the S&P 500 close below the 50-day moving average for only the third time this year. It’s an unsettling development that had bulls cowering throughout the weekend. Many chart watchers use the 50-day moving average as a proxy for the intermediate trend. When prices are trending above it, the path of least resistance is higher. When prices tumble below it, however, the path of least resistance turns lower.
June 20, 2021 | No Comments
The FED has been the main talk this entire week as the FED hinted that they would be looking to increase interest rates sooner than previously stated. Additionally, they are looking to slow or stop the emergency bond-buying. Their reasoning for this is that inflation is running faster than expected, and the economy has been doing well with lockdowns ending.
June 19, 2021 | No Comments
We are going to take a short break from our series on consolidation patterns to talk about current market conditions and how they impact commodities. The hawkish Fed surprise this week created quite the volatility in the markets the last few days leaving many traders to wonder what to do with current and potentially new positions. I will give my perspective on the matter.
June 19, 2021 | 1 Comment
Good Day Tackle Traders! Welcome to the stock report. The Fed has spoken and certain areas of the market are not happy with what they said. Previously very strong segments of the market are getting decimated. Areas that were running well were financials, industrials, and energy. All of those have reversed and started to break some levels of support as well as blown through some key moving averages. This swift action has some folks scrambling and concerned about what comes next and more importantly what to do about it?