The bias for the market is bullish, but the indices have been moving higher for several days already, so some nice corrections on the 30-minute charts would help lower risk on intraday buy setups.
Toni Hansen writes there is still a slight upside bias in the market on the 120-minute charts, but with the resistance that is now hitting on the larger intraday time frames, it is more likely to see some sort of correction intraday on 15-to-30 minute charts fairly early on Thursday.
Toni Hansen continues to expect more choppy trading as the week progresses, with her primary focus remaining on shorter time frames. Some stocks she is watching this week for continued upside include CPWR, SNDK, ALTR and WEN.
Toni Hansen is not looking to be aggressive on longer-term shorts, but because most of the market appears to need a rest, her shorting will be more focused on daily and intraday setups.
Toni Hansen writes that she is more leery to add too much to long-term buy setups, so she is dropping down to focus on smaller time frames, primarily intraday, with a few swings.
Many stocks are looking substantially overbought. After six months of upside in the overall market, it will be easy for the indices to fall into a longer-term correction on the weekly and monthly charts.
Copyright 2025 Tiger Shark Publishing LLC . All rights reserved.
It should not be assumed that the methods, techniques, or indicators presented on these websites will be profitable or that they will not result in losses. Past results are not necessarily indicative of future results. Examples presented on these websites are for educational purposes only. These set-ups are not solicitations of any order to buy or sell. The authors, Tiger Shark Publishing LLC, and all affiliates assume no responsibility for your trading results. There is a high degree of risk in trading.
Free Festival of Traders Videos
full story
printer version