BUY RMBS $20.45
BUY VISN $11.17
All markets here look very neutral, trading sideways since early November. The volume has come down and new highs are being sold with solid resistance. If you take a look at charts of the Dow, Nasdaq, Russel, S&P500, and TSX - all trading sideways. This makes it tough for making easy profits. It really is right now a stock pickers market. I'm swing trading breakouts with HIGH accompanying volume!! This is really important as I'm seeing a lot of fake breakouts on LOW volume. High volume breakouts just provides a higher probability of success and not failing.
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Also if you take a look at the markets Vs. the MACD and RSI, you can see lowering momentum and falling overbought conditions (bearish divergences). I'm not saying that the markets are going to come crashing down, but I do think that we have a greater chance of trading sideways/correcting than for this market to continue higher. Of course, the markets are trading technically right now and no fundamental news should be driving this market higher. The major trend is still up and until that upward channel is broken, I think we should remain optimistic, however cautious.
BUY VISN $11.17
All markets here look very neutral, trading sideways since early November. The volume has come down and new highs are being sold with solid resistance. If you take a look at charts of the Dow, Nasdaq, Russel, S&P500, and TSX - all trading sideways. This makes it tough for making easy profits. It really is right now a stock pickers market. I'm swing trading breakouts with HIGH accompanying volume!! This is really important as I'm seeing a lot of fake breakouts on LOW volume. High volume breakouts just provides a higher probability of success and not failing.
.
Also if you take a look at the markets Vs. the MACD and RSI, you can see lowering momentum and falling overbought conditions (bearish divergences). I'm not saying that the markets are going to come crashing down, but I do think that we have a greater chance of trading sideways/correcting than for this market to continue higher. Of course, the markets are trading technically right now and no fundamental news should be driving this market higher. The major trend is still up and until that upward channel is broken, I think we should remain optimistic, however cautious.
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