Morning Charts

Morning charts:

Rentless buying pressure from the last 5 trading sessions is putting a fresh coat of lipstick on some incredibly bearish charts.  If this buying pressure continues these charts will get even more attractive.   While bearish chart patterns have been working more in 2015 than in recent memory,  the hopes and dreams of additional Central Bank accommodation will trump any bearish chart pattern any day of the week.  With bad data getting cheered you can assume the driving force behind the massive mover higher in the market is investors trading with the FED at their backs, knowing stocks remain the place to park their cash.

Here are some morning thoughts.  Please post any questions below in the comment thread.




Known to most as Uranium Pinto Beans, Jason has more than 15 years under his belt of trading stocks, options and currencies. His expertise primarily lies in chart analysis, and he has a strong eye for undervalued stock. Because he’s got the ability to identify great risk/reward trades he usually enjoys taking the path less traveled and reaping the benefits from the adventure.

He is a co-founder of Option Millionaires, and he is best known for his weekly webinars with Scott, as well as his high level training webinars and charts found in the forums.

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