An abundance of quality long setups has been noticeably absent from the nightly scans. This may in large part be due to sector rotation, but it is also common during the final stages of an extended rally.
The stock market indices had another great day as the market went higher. The Nasdaq 100 tested key overhead resistance levels, while the S&P 500 pressed up against the 1360 level as well and had a solid day.
The stock market indices started out the week with positive action. The morning, however, was choppy as the indices moved lower, backed and filled, retested support on the Nasdaq 100 and S&P 500 and held.
Who wants to hold dollars when inflation rates are rising and the dollar is currently losing ground at the rate of more than 7 percent a year? Damned if you do. Damned if you don't.
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It should not be assumed that the methods, techniques, or indicators presented on these websites will be profitable or that they will not result in losses. Past results are not necessarily indicative of future results. Examples presented on these websites are for educational purposes only. These set-ups are not solicitations of any order to buy or sell. The authors, Tiger Shark Publishing LLC, and all affiliates assume no responsibility for your trading results. There is a high degree of risk in trading.
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