Hi All! The major averages came under very serious pressure this afternoon and shredded through support levels we thought would take longer to reach.  Things closed very ugly and near the lows of the day.  We opted for a chart of the DOW since the major indices are all fairly correlated and this chart is…

Hi All! Real quick because we’re about to conduct our weekly webinar.  GT has finally made it: Bearish Mentions: RTH STILL hasn’t quite made it to our lowest target just above $106.00. OKTA HAS PLUNGED ANOTHER 5% so rollers should do their thing or at least think about it! More to follow when warranted. Cordially, Wayne

Hi All! Quick update as markets are moving. Our bearish idea, GT needs a little more weakness to crack down another dollar or more. Bearish Mentions: RTH hasn’t quite made it to our lowest target just above $106.00, hopefully it will. OKTA has gotten smoked again today and has effectively closed our lower target gap below $61.00…

Market getting hit again today even with good jobs report. This comes back to the good news in economy means the potential for bigger rate hikes due to potential inflationary pressures. Our downside idea: GT is testing lows from beginning of September…depending on your profit you can roll or take some off the table.  You…

Overall market is still negative but has come back up a little. Bearish idea GT will be close to triggering at $23.21 Bearish Mentions: RTH has moved down to the 50 SMA.  Further pressure could push down to the 100 day SMA at $104.41 OKTA has dropped nicely as well…first target would be the 50…

The SPX has dropped right to our support level that has 2 forms of trendline support (Blue arrow). As we noted yesterday, there should be many support levels to cushion the market’s drop.  We noted a minor one in Red but the next major one is where the RED arrow is pointing to. At this point, we’re mildly happy that…

Good day! We don’t want to read too much into yesterday’s afternoon weakness but it did produce a 3rd ugly candle and we’re right on our first key support line, the support line of the rising wedge.  We can add to that mix a little futures weakness for a change. The bond market is big talk…

Hello All, Dealing with river flooding but fine so far! Anyway, working on this week’s newsletter but don’t lose sight of the fact that CRC is up $8.00 since last week’s newsletter. Be smart with the FED looming and such a vertical move! Cordially, Wayne

The overall market is down again with trade talks dominating the news cycle. NBL: is coming off a little even with light sweet up a little. IBM: getting hit a little as well. CSCO is having an inside day vs Fridays action, but this is good as long as it stays bullish with a positive…