Hello All, We’re back again with a familiar refrain… The markets are still struggling today as the Turkey turmoil continues to hamper share prices.  As we noted at publication last Tuesday, during Wednesday’s webinar, and in nearly every update that’s followed, the SPX was caught up in many lines of resistance and support after reaching a short-term overbought…

  Hello All, The major indices are still down after a weak opening due to Turkey’s currency crisis.  As we noted, they were short-term overbought and ensnared in various resistance lines anyway. This news provides a great and ready-made news item to justify selling stocks.  The implication?  There’s always a news-based reason for market action.  That’s…

Hello All, The SPX closed up mildly and USB closed above our trigger level by 1c ! We can’t fault anyone for electing to take this idea and run with it since so little is going on in the markets.  However, do remember that the SPX is ensnared in a web of support and resistance lines and it could double top,…

Hello, JNJ closed right at but not above our trigger of $132.64 in what ended as a down market.  Today it is a little weak with the markets opening weak.  If anyone became aggressive in that one do remember that we plan to utilize a very tight stop at the 200 SMA near $132.33, which…

Hello, Again, our apologies for this week’s health-related issues. Here’s a link to today’s recorded webinar: http://www.tractiontech.com/08/market-traction-analysis-8-1/ As we discussed earlier today, the earnings season and now the FED are out of the way to a large degree, at least for the moment, and even with that, the S&P 500 hasn’t been able to power…