{"id":12703,"date":"2011-06-27T22:41:56","date_gmt":"2011-06-28T02:41:56","guid":{"rendered":"http:\/\/www.smbtraining.com\/blog\/?p=12703"},"modified":"2011-06-27T22:41:56","modified_gmt":"2011-06-28T02:41:56","slug":"my-take-on-the-market","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/my-take-on-the-market","title":{"rendered":"My Take On The Market"},"content":{"rendered":"<p>My view on the market is encapsulated via a chart on the SPY for the past several weeks. We have been in consolidation mode for 16 days now. I am starting to wonder if we will continue to stay in this range until earnings seasons begins. Each time we have moved to the 126.60 support area buyers have stepped in. Today we moved almost two points higher from support. And my two main long ideas LNKD and AMZN exploded to the upside.<\/p>\n<p>It is apparent from this visual as well that we have spent a lot more time in the lower part of this range than the upper part. If we are going to break to the downside at some point the sellers will have to prevent such large bounces from support. A bounce from 126.60 that doesn&#8217;t breach 127.50 will get me to start thinking about a downside break. And a move with force below 126.60 to 126.30 or so would have me aggressively short with an initial downside to 125.<\/p>\n<p>On the flipside if we break above 130 I will be looking for a move to 131.50ish. And by the way, I have no emotional energy invested on which way we move. That&#8217;s how it should be for all short term traders.<\/p>\n<p style=\"text-align: center;\"><a href=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2011\/06\/spy-june-range-2011.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-12707\" title=\"spy june range 2011\" src=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2011\/06\/spy-june-range-2011.png\" alt=\"\" width=\"600\" height=\"420\" srcset=\"\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2011\/06\/spy-june-range-2011.png 1000w, \/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2011\/06\/spy-june-range-2011-300x210.png 300w\" sizes=\"auto, (max-width: 600px) 100vw, 600px\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>My view on the market is encapsulated via a chart on the SPY for the past several weeks. We have been in consolidation mode for 16 days now. I am starting to wonder if we will continue to stay in this range until earnings seasons begins. Each time we have moved to the 126.60 support area buyers have stepped in. &#8230; <a href=\"https:\/\/www.smbtraining.com\/blog\/my-take-on-the-market\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":143,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1,8],"tags":[],"class_list":["post-12703","post","type-post","status-publish","format-standard","hentry","category-general-comments-2","category-steven_spencer_steves_blogs","no-post-thumbnail"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.1.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>My Take On The Market | SMB Training<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.smbtraining.com\/blog\/my-take-on-the-market\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"My Take On The Market | SMB Training\" \/>\n<meta property=\"og:description\" content=\"My view on the market is encapsulated via a chart on the SPY for the past several weeks. We have been in consolidation mode for 16 days now. I am starting to wonder if we will continue to stay in this range until earnings seasons begins. Each time we have moved to the 126.60 support area buyers have stepped in. ... Read More\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.smbtraining.com\/blog\/my-take-on-the-market\" \/>\n<meta property=\"og:site_name\" content=\"SMB Training Blog\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/smbcap\/\" \/>\n<meta property=\"article:published_time\" content=\"2011-06-28T02:41:56+00:00\" \/>\n<meta property=\"og:image\" content=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2011\/06\/spy-june-range-2011.png\" \/>\n<meta name=\"author\" content=\"sspencer\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@smbcapital\" \/>\n<meta name=\"twitter:site\" content=\"@smbcapital\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"sspencer\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script 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