On Wednesday, we have the German courts ruling on the Euro area's permanent bailout fund. On Thursday, we have the Fed possibly coming in with another QE to the rescue. But is this all really that important to the markets? The reality is the markets tell you what they want to do and right now they are telling us they want to go higher.
One of the very best traders I have ever had the good fortune to run into lived on a mountain in Switzerland. He didn't listen to news or market rumors, he simply went with the market. In other words, he traded the markets on a technical basis.
He could have been on a desert island, it didn't matter, he just didn't pay attention to the news or listen to the market rumors that fly around the trading floors everyday.
He relied purely on market action to make his decisions, and he made millions!
So let's keep it simple, or as my Swiss friend used to tell me, "they don't pay you anymore for making it complicated." It may be different in the government, but in trading, simpler is better.
Now, let's analyze the major markets and stocks on the move using MarketClub's Trade Triangle Technology.
Click Here to view today's video