The markets are coming under a little bit of pressure down over 1% on the day. JPM has come into its 50 daily MA so it should ease some of the selling pressure on the markets.

Market Wrap Up: 04/19/12

No real updates today. We still have a bear flag on the SPY daily. I'd look to short the financials via SKF and FAZ.

Market Wrap Up: 04/18/12

We have a ripe BEAR FLAG pattern on the SPY daily chart. As long as price does not close above the 20-MA look for a move lower possibly down to the $134.00 level on SPY and $64.75 on QQQ.

Look out for stock symbol: YONG. It's a Chinese small-cap that I hold from $3.17. There is a macro bull pattern on its chart and has a micro bull pattern on the daily chart. We could see a move coming into it tomorrow.

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Market Wrap Up: 04/17/12

The stock markets were surprisingly stronger today. This bounce might last longer than anticipated and the market might continue rallying going into tomorrow. The most important sector to follow this week is technology. Look to short the QQQ if it gets to $67.55, we are still in a downtrend.

Market Wrap Up: 04/16/12

Nothing has changed. Market are still in a down trend. Look to short the market whenever you can. Tuesday or Wednesday will be a down day.

Market Wrap Up: 4/13/2012

Be careful going into next week. I'm expecting very large moves as earnings come in to play. Overall, the markets are weak and continue to look bearish. Expect the bears to pile in next week.

As I have said yesterday, the SPY was going to trade into the $139.00 level and then pullback. We came within just $.10 of that level yesterday and today the markets reverse. Learn to read the charts and you will profit! CNBC is saying "China GDP numbers disappointed," NO! The news does not matter!