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Stock Report February 15th, 2020

Just like last week, the market ended in the same spot as far as patterns are going. The difference this week is that we are a few points higher. The SPY (ETF that follows the S&P 500), printed a three-day high base.

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Scouting Reports

Stock Report February 8th, 2020

On Thursday, the SPY (ETF that follows the S&P 500) closed at all-time highs yet again and printed a hangman candle. On Friday, it opened lower and sold-off slightly. It looks like the great sell-off of 2020 could be over. Or maybe I am wrong? It will be interesting to watch and see what it will do next. In the video, I am going over a few scenarios of what could happen next as far as price action goes.

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Scouting Reports

Stock Report December 7th, 2019

The overall market this past week was just like a roller coaster ride. We began with a sharp drop on Monday and gap lower on Tuesday, and then swiftly reversed to an upside recovery for the rest of the week. It looks like we are trying to establish a new channel support in SPY (the S&P 500 ETF). I’ll explain more in the video.

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Scouting Reports

Stock Report November 9th, 2019

The SPY (ETF that follows S&P 500) closed at all-time highs on Friday. There was a lot of “backfilling” as far as all up gaps for this week meaning many of the higher openings saw intraday selling that created a choppier environment than buyers would have liked.

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Scouting Reports

Stock Report November 2nd, 2019

So, as many of us anticipated, the SPY (the ETF that follows the S&P 500) did break out. For those that want solid confirmation, as I was saying in last week’s report you don’t necessarily have to trade the break. You could wait for a break retest of support and then enter your long positions then. In my mind, that kind of break and retest can take a few weeks to happen.

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Scouting Reports

Stock Report October 5th, 2019

After a two day sell-off, short term price action was oversold by shorter-term measurement methods like a fast stochastic and nearing the most recent significant support zone/trend zone on the daily time frame as the price action approached the 280 neighborhood… Then snap!

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Scouting Reports

Stock Report September 14th, 2019

The Spider (SPY, ETF that follows S&P500) reached an all-time high on Thursday intraday. It appeared to me that the move was caused by tariffs news. It “got smacked down” immediately and went sideways till the end of the week.

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