Lately, it’s been shocking to see a down day. The indexes seem to go up daily – even if not by large amounts, they’re green. It’s as if they’re green enough to remind everyone that the bulls are getting their way.
Not only are the buyers propelling stocks higher, but so are the bears who keep needing to cover their shorts – both on strength (to avoid pain) and on any weakness (in order to book quick profits and get back out while they can). Clearly, it’s been one impressive run.
At this point, the biggest question is when will we see a dip or a rest? After all, either one will be a welcomed sight for traders, simply because chasing extended moves is among the toughest things to do for those of us with shortened timeframes. Well, it will happen, so patience is the key right now while we wait for one to arrive.
As we head into a brand new week of trading, let’s examine some important levels in the indexes to keep an eye on in the days ahead. That will have the greatest influence on how individual stocks are going to move, so it’s where the trading week begins.
This clip was also posted over on the Trading Videos [1] site (as always), and perhaps you’ve seen it there – but in case you didn’t, I wanted to put it here on the blog for you.
Let me highly suggest clicking the “HD” on the video player and then going full-screen for best quality.
Thanks for stopping by and I’ll see you here soon with more.
Until then… Trade Like a Bandit!
Jeff White
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