11th-14th: My Thoughts on Market Conditions

The only way to succeed is to be consistent.

For August 11th

Market slowing down and it looks like it may fall back down towards $201 to test resistance. It may be time to look for shorts and prepare for a bearish outlook.

Oil bounced back up and may go higher if it breaks $40. Let’s see what happens when it tests $50 and and $43. Bullish outlook for now.

Gold is coming back slowly and want to retest the $1260s level. Since the market is looking weak, we may see a resurgence in gold.

For April 12th

A lot of consolidation for the market, but it is starting to looking bearish. Probably want to look at the $201 resistance.

Oil may breakout to test $43. We shall see. Bullish outlook so far.

Gold about to hit resistance. I still think it can go higher.

For April 14th

The market has spoken and will be going up for whatever reason. I am guessing a $211+ test is possible. I should be on a look out for a bullish market.

Oil seems to have doubled topped and will be reversing.There is a channel between $35 to $42.50s and I will be looking for it to test $39 before it makes a decision on what it wants to do.

Gold has hit resistance at $1260s and coming back down. I want to see it test $1205 to see what happens next.

4th, 6th: My Thoughts on Market Conditions

I have problems with consistency because these reports should be done daily. I must take a look at my schedule and my habits to solve this.

For April 4th

I’m surprised. SPY is bullish and wants to go test $213s again. Before it does that, I think it consolidates a bit more before it does that. So prepare for choppy markets.

Oil has definitely slipped. I guess the run was just a squeeze before going lower. I want it to test and peak $38.50s before declaring it bearish. It can definitely drop like a rock so find some overextended oil stocks and short short short!

Gold is consolidating. I may be interested in shorting it if it peaks $1185s. Maybe it consolidates a bit and gives us some sideways action before making its move higher or lower.

For April 6th

Market is definitely still choppy and looking to go higher since it based $204s. I shouldn’t be playing any stocks with no volume or clear trend.

Oil has bounced and is heading towards resistance at $38.50s. I still want it to peak there before making any moves.

Gold is choppy and consolidating. I have a feeling it wants to go lower since the market wants to go higher. We shall see what happens.

1st: My Thoughts on Market Conditions

For March 28th

The SPY looks like it wants to go lower, but I think it’ll consolidate a little before making a decision. If it bounces, it’ll want to retest $205s. 

Oil looks weak, but it did bounce off of the support at $38.30s. It’ll probably consolidate a bit before heading back down.

Gold lower and I still think it’ll go lower. It’s looking for $1200 before it makes its next move. 

For April 1st

The SPY bounced at 201 and broke out. Now in $205 and positive territory. One more retest at $204s and it could be a green light from here. 

Oil is heading down and probably wants to go lower.

Gold bounced off of $1200 and made a lower high. I want it to retest $1200 and break it towards the downside. If not, then it may break out again and retest $1260s.

22nd-24th: My Thoughts on Market Conditions

I've been pretty lazy with my thoughts on this and still haven't started on a single watch list. I will do so because that's my job. If I want to get paid, I must put in the work. I must stop being lazy.

For March 22rd

SPY is holding up and is looking it wants to get higher.Let’s see how it does between $205 and $213.

Gold is still consolidating, but if it breaks down from the uptrend, I should be looking for shorting opportunities. If it continues, I want it to retest $1266 and head higher.

Oil gapped up and wants to go higher. It’s on its way to $43.

For March 23rd

SPY seems to be consolidating, but still wants to go higher. I expect it to head towards and test $205-$213.

Gold tried to hold up, but keeps failing. If it breaks out of trend, I should be looking for overextended gold charts and start shorting. If it falls, key level is $1200 area.

Oil is consolidating, but I have a feeling it’s on its way to $43.

For March 24th

The SPY seems like it peaked out and wants to go lower now. Is the end nigh?

Gold broke trend, look to sell!

Oil has failed! Time to retest support at $38.30s.

14th-15th: My Thoughts on Market Conditions

I've been slipping recently with my updates and I think it's because there is so many things that happened last week. I realized that my stress from not posting will increase if I don't start somewhere, so I am going to post what I have and will continue posting until I get you guys up to speed.

I did hit my stride last week and I want it to continue. The only way to do so is to review my trades and get better.

For March 14th

Market came back with a bang on the 13th and it broke out of the $201 range. Now it will go on to $205 and test that level. Perhaps, that is when it will stall and peak. If that’s the case, prepare for the bear market to begin.

Didn’t expect the big pull back, but was probably from the market doing so well. Still in the uptrend and I expect it to continue to consolidate or break down. If it breaks down, I expect it to fade and test $1190s.

Oil is consolidating and really looks like it wants to test $40s. However, it might need more consolidating before it does that. Who knows, maybe it peaks out here and starts to fade. I still think a breakout is possible despite the fundamentals.

For March 15th

SPY channeled up for the day and made a new high. I’ll count this as a consolidation and it to push higher tomorrow. I see a positive week this week and positive the last stand for longs before the winter.

Gold broke down today and it’s going to want to test $1190s. I am expecting it to retrace a bit before moving lower.

Oil hit resistance at $39s. Here rejection there and I expect either a pullback or more consolidation. Looking at the weekly chart, it seems that this chart can flag before going higher.

7th-11th: My Thoughts on Market Conditions

Here were my thoughts on the market conditions last week. I don't think anyone would be interested in them now, but I did say I would post them. The reason I didn't post them sooner was because I wanted to include pictures, but that was way too much work. I didn't do any watch lists, but it's about time I get started with them.

For March 7th 2016

I really want to be looking at the SPY, OIL, and GOLD because they seem to be very active right now. I need to form an opinion about them and then think of a strategy to find the best trades. The best trades will lead to the most profits.

The SPY has definitely some resistance at $200 and I will be expecting a pullback tomorrow. If buying pressure continues, I expect the SPY to head towards $205 to test the waters there. If it pulls back, then I will watch it test the $195 levels. I will be expecting a choppy day for the markets tomorrow unless the market heads higher.

Gold future  continues on making big moves and it broke out of its flag on March 4th with heavy selling. I expect a short term consolidation before going higher and won’t be surprised if it wants to test $1300s. I should be thinking of longing gold at this point.  The problem here is if the market wants to continue going higher, then gold might take a drop.

Oil futures have just broken its downtrend today and may find itself heading towards $43.50s levels. It wants to go there and I will want to see how it reacts there. Oil stocks should be on an uptrend as of now.

SDRL - I know this squeezed many people out because they were covering since the owner was investing more money into the company. I will be looking for a long and my target will be towards $8. I’ll look for a uptrend to form before doing so or just a straight pop. If the name fails, I must look for it to peak out at $5.80s. $5.80s is definitely the key level here.

Target: $8+

Support: $5.80s

For March 8th 2016

Today was a big day for oil. I did not trade well because I did not respect my stops. I cared too much about money than the trade. I did not look at all the charts I had for the day so I missed a few trades as well.

So the SPY fended off the sellers and went to test yesterday's highs at 201. It is still in a range between 199 and 201 so I expect it to chop around until it makes a move. Most likely it breaks out tomorrow at this point and goes to test $205. I should be looking to long some big caps stocks. Looking at the big caps, it seems like a lot of them just sold off. Very strange.

Gold futures consolidated as I thought and has the potential to push higher. I expect the push and it to test $1300s.

Oil futures broke out of the downtrend and I should have played some oil today. Any oil name would have been good because it seems to be heavily shorted. I just had to find the right setups. I expect oil to continue its breakout tomorrow and head towards $40s. A pullback may be coming so I must look for the most exaggerated oil stocks and look for shorts.

For March 10th

The SPY sold off yesterday after it couldn’t break $201. It was a great day for shorting any setups that were overextended. It followed the oil move directly. Looking at the chart more closely, I should have expected a pullback based on the bars and volume. Tomorrow I believe the trend continues and tries to break $201. If it doesn’t, it either chops around at this range or it fails and we will be looking at a bear market.

Gold tried to push and breakout, but it failed on the 8th. The uptrend isn’t over yet, but it looks like it may fade off to test $1200 levels. If it holds, expect a breakout to $1300.

Oil touched recent resistance and faded. I should have been focused on closer resistance than later resistance lines. Oil came back strong today and I expect a breakout for tomorrow to test the $40s mark.

For March 11th

Market is confused on where it wants to go. It’s still chopping, but I have a feeling it will want to fade in the upcoming days. Market will be choppy tomorrow between $199 and $201 and will be fading if it peaks $199s.

Gold still wants to breakout above $1280 because the market is acting pretty weak. Expect a breakout to $1300. I should looking for gold stocks that want to go higher.

Oil is peaking at $38.50s despite the high oil fact. If it goes above that, it’ll test $40s. If not, then I expect a fade due to the fundamentals being weak. Very strange it is holding up this long.