Tom Bowley
Contributor at StockCharts
Chief Market Strategist at @earningsbeats and https://t.co/yovMS1j79t contributor.
Articles
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1 week ago |
stockcharts.com | Tom Bowley
In order to invest or trade successfully, you have to have conviction. Conviction does not equal stubbornness. It's very important to remain objective and occasionally question your conviction and adjust your strategy from time to time if signals warrant it. But I cannot trade personally if I believe there's a 50/50 chance the market is going higher. That doubt will resonate with each and every swing in the market. I'll chase at the wrong time and get whipsawed out of positions.
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3 weeks ago |
stockcharts.com | Tom Bowley
Let's be honest. Did anyone think a little more than a month ago that the S&P 500 was primed for a 1000-point rebound? I turned bullish at that April 7th bottom a month ago, but I did not see this type of massive recovery so quickly. Why does this happen? I believe these panicked selloffs occur, because the big Wall Street firms get out prior to market massacres and they need to get back in. What's the best way to accumulate shares?
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1 month ago |
stockcharts.com | Tom Bowley
I feel like the short-term risk is turning once again and I'll explain why in my analysis below. Please don't misunderstand. I suggested a bottom was in place a few weeks ago and I LOVE what has been happening in terms of manipulation/accumulation and I LOVE the fact that we were able to quickly regain both the 20-day EMA and 50-day SMA on our major indices.
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1 month ago |
stockcharts.com | Tom Bowley
Technically, it's rather clear that we remain in a downtrend. However, not all downtrends are created equal. Some are built to last, while others can turn around quickly. Recognizing the difference is obviously quite important. What most traders/investors cannot grasp is that secular (long-term) bull markets often see corrections or cyclical (short-term) bear markets. Both of these are much, much different than a secular bear market and present tremendous opportunity.
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1 month ago |
stockcharts.com | Tom Bowley
I pay attention to technical support levels as the combination of price support/resistance is always my primary stock market indicator. We're in a downtrend and, in my opinion, the trading range is very, very clear on the S&P 500 right now:I think most everyone can agree that much of the selling and fear and panic can be attributed the trade war - at least much of the weakness occurred with startling tariff news.
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It's always important to check out the consumer stocks, especially given that this represents two-thirds of our GDP. It's difficult to argue with a strengthening consumer discretionary ($XLY) space. https://t.co/uwrhEkxNgu
For those that joined me in today's LIVE trading room, I've taken profits on $LMND. My entry price, during the trading room, was 17.08 and I discussed a target of 19.00. Given that it hit 18.60, I can't pass up more than an 8% gain in just 5 hours, so I'm out.
RT @EarningsBeats: Join @TomBowley Tuesday-Thursday at 9 AM Eastern for his breakdown of the latest market action https://t.co/ftUHXMMZvn