Getting out of the Woods

Good afternoon ladies and gentlemen, we finally made it out of the bubble we had posted on here.  We have been picking up profits everyday.  Currently we are in a tricky spot as you see we have some consolidation on the top of the previous bar.  Currently this can still go any way.

Today we saw that the bulls are really pushing the limits even on light volume.  Media continues to support the buying of Gold and we are seeing Gold rebound.  This week we got a couple of fundamentals coming out that can drive the market either way.  I suggest you continue to be quick and lock in your profits based on your tolerance.

We are looking somewhat good.  However we are still not out of the woods. Our out of the woods target is around 1300s on the SP500.

Keep cool and Trade Smart!




Note: further stock setups will be called out on the blog with weekly ideas.  Get them while they are free! 

S & P 500

Good evening everyone. Markets looked pretty firm today and we had a rally.  People really brought in the money and we had a EOD small run.

But lets not get ahead of ourselves yet.  We still need some confirmation in order to call this a re-test, or bottom or reversal.  Today we saw people come in with some money however this could be due to what Bernanke's might bring to the table on Friday.

What you want to see is the market cross fully over some of its resistance and break out of the channel it wants to build.  Currently we are putting some pressure on the bears, however what ever Bernanke brings to the table will either make or break the market.

I advice to continue keeping light until we see further confirmation of the market turning. However there some good setups, however some of the stuff is coming overbought.

Keep cool and Trade-Smart.

by Elektrode!