Market thoughts for July 31

No big selloff this morning and no island reversal this morning as some traders suggested yesterday at the close.

Market thoughts for July 30

Sell signal is invalidated today, will have to wait for the next sell setup. My best guess at this point is sometimes in early to mid Aug, but we will let the market decide for us.

Market thoughts for July 29

My technical model gave a sell signal yesterday meaning risk takers can take a short position here front running the market, while conservative traders can wait for sell confirmation before taking the short trade

Market thoughts for July 28

Expecting a small consolidation day today with a narrow trading range

Market thoughts for July 27

Looks and feels toppy after 2 strong weeks of rally, but I will not take any IT shorts until the market confirms its downturn.

Market thoughts for July 24

**Warning to the Bears**

The top I was looking for in the 960's-970's area is "A top" and it may not be "The Top", so do be careful when you are trading put options and triple beta ETF's.

I will try my best to identify "The Top" to you when the time comes. Once the market tops out, you will have plenty of time to put on your trades so no need to take unnecessary risk and drawdowns to front run this market.

Market thoughts for July 23

SPX finally breaking out of resistance today heading toward the 960-970's area. I am now on high alert for a possible top in the next 2 days.

Please keep in mind picking tops is a dangerous game, so be sure to have your stops in place when the market is right and we are wrong with our analysis.

Market thoughts for July 22

SPX is trading near the June high area, so I expect either a pullback here or most likely a false breakout in the next few days to the 960's-970's area before a real top is put in

Market thoughts for July 21

We should see a one day reversal today, follow by couple days of rally into ES 970's

Market thoughts for July 20

Here we are at 950's, let's see what the market has in for us this week

Market thoughts for July 17

Should be a quiet non event OPEX today

Market thoughts for July 16

I expect today to be a small down to an unchange day, but I do expect yesterday's high to be taken out today before reversing lower

Market thoughts for July 15

ES met my minimum objective this morning at 920's. I expect a minor pullback at this level and then the next target is at the 950's area.

Market thoughts for July 14

With yesterday's market liftoff, the ST momentum is now switch from down to up.

Today the market will probably consolidate yesterday's gains before resuming the rally for the rest of the week.

Market thoughts for July 13

The market should be up this week, but the set up is not there to rally today.

I expect market weakness early in the week, and the reversal could come as early as tomorrow

Market thoughts for July 10

Estimated ES range today is 870's -888

Market thoughts for July 9

Everything lined up for an up day today

Estimated ES range today is 893-875

Market thoughts for July 8

Expecting an up day today.

ES should rally from 880's to 900's, and TF from 480's to 495's in the next couple of days

Market thoughts for July 7

Today look for an early morning weakness and then a strong closed by the end of the day

Ideal reversal levels for the ES is around 884-887's area

Market thoughts for July 6

ES should find support at the 882-885's area, look for a rally back above the 900's area in the next 2 days

Market thoughts for July 2

Given today's trend day decline, SPX will likely revisit the lower end of the trading range at 880 and can go as low as 860's by mid July before consolidating and make another rally attempt to the 940's-950's area by early Aug.

Market thoughts for July 1

Market held important support yesterday and will attempt to break current ST resistance either today or tomorrow on its way to the SPX 950's area as stated in the previous post