Good Afternoon,

Just for the record, since I have started this blog, I haven't had a "Bearish Commentary" when it comes to the broad markets and I am definitely not bearish now. I basically put an "all out buy" on the blog yesterday and the markets cooperated. As we will see, the SPY broke out today and is at a new bull market high...

Good Afternoon,

Easter is a huge holiday around the world - in Germany it is as big or bigger than Christmas and I always remember the 4 day weekend while trading Bunds, Bobls and Shatz in Chicago.  I probably traded a few shots over those long weekends as well!...

Good Afternoon,

And the beat goes on! We have more "mediocre" economic news but higher equity prices. Surprised? You shouldn't be. This is to be expected in the "the fed is in charge" economy. Remember, they promised extended low rates at their last meeting, so even with higher initial claims and lower Philly Fed, fundamentals are just good enough and the Fed is still in the picture enough to get us to new highs in the Dow Jones...

Good Afternoon,

A client asked me where I see the next support levels. So I drew my Fibonacci's and looked at a moving average as a back up in order to provide some information.

With a light economic calendar and but a full earnings calendar, we were broadsided with a downgrade in credit from the US to Europe (which included Greece). We have known that credit spreads have been widening, so is this a really nice buying opportunity? Will equities shrug this off like they have shrugged off Egyp, Libya, Japan...

Good Afternoon,

I have posted a few charts regarding how the buyers are definitely in charge. This is just another day that proves this. Down 100 points and now down only 20 -  we still have to see where we close, but I will post a chart of the past few weeks where we have some red days, but none of them have closed on their lows.

Before getting into the charts - and we have many to discuss, esepcially in forex, I want to provide you with the link to the webinar page where last night's free webinar will be posted shortly. If you haven't received it via dropbox, email me to get a link to the file.