Hello Everyone,
Market Comments
: Last Friday and on the weekend we discussed our favored scenario being an upside move starting on Monday and that played out nicely today. As I explained on the weekend, our reasoning was the bullish break in symmetry as well as a break in structure (i.e. the previous lower high had been taken out). Today the SPX cash gained 30 points or 0.7%, while the QQQ outperformed adding +1.2%. On the SPX cash there's an open gap just above at 4496 which is likely a magnet. The other scenario we are monitoring is a coiling type action (see daily SPX and QQQ charts in the newsletter below)
News Items: CPI and PPI could be important news catalysts this week
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KISS Trend Following Systems
- Breakpoint Trades proprietary trend following systems that dynamically follow an uptrend and raise stops along the way giving you an exit, while allowing you to stay in the trend. Check the indexes, as well as your individual stocks, ETF's etc, to see where the system is suggesting a stop.
KISS STS Tables for Indexes, ETF's, Stocks - check your stocks and ETF's to see where they are suggesting smart trailing stops if long
Matt
