February 18th, 2017 07:02
We hosted another Casual Trader’s Meetup here in San Mateo last night and we had the biggest turnout yet. Folks came for the tacos but the beer and Chinese food ran out too and the eclectic spread was enjoyed by all. We gave a brief presentation on our latest updates in AlpacaScan followed by a discussion about trading platforms and brokers. Everyone participated in the conversation and folks told us after that they had lots of fun as did we.
SPY went green before closing on this lovely Friday afternoon into the President’s holiday weekend. The strength in this market cannot be denied, as it continues to make new record breaking highs each week. Traders continue to bask in profits from an endless bank of bullish sentiment. It took a little pause yesterday but only so much as to let the 8 ema (exponential moving average) catch up ever so slightly.
As drama and controversy continue to be the theme in Washington, market makers do not appear worried about climbing the wall of worry. We continue to await policy on border tax, banking regulations and personal income tax reductions of US workers, but those on Wall Street are not deterred. Investors are clearly confident that whatever policy is enacted will be good for stocks. So for now, enjoy the trend and rake in those profits but be nimble and ready, for correction can come at any time.
Below are two charts, the daily SPY flying high above the Ichimoku cloud and the weekly spy with it’s new all time high.
Don’t forget to check out our new mobile stories . They offer detailed bite sized trade ideas right to your smartphone. We are still in the early stages but, if you’d like to be one of our beta testers with early access, simply click on this link AlpacaScan Mobile Stories | Alpaca. Check out our scan directly at AlpacaScan and keep up with our alerts on Twitter@AlpacaAlerts, Stocktwits@AlpacaAlerts and Instagram@AlpacaScan.
We at Alpaca wish all our trader friends and followers a wonderful long President’s Holiday weekend. I’ll be hopping on a flight with my family this afternoon to visit my in-laws for the holiday. Good trading everyone!
The author, Danielle Spandau is a seasoned trader/investor and educator also known as The Trading Wife.
All information and/or opinions contained herein are impersonal, for informational purposes only, and do not constitute a solicitation or offer to sell securities or investment advisory services. The views and opinions expressed in this article are those only of the author(s) and do not necessarily reflect the opinions of Alpaca. If you are considering making an investment, you should consult with an investment professional.