Silver is looking like a high probable short opportunity. its already very extended and overbought, but it may want to tag or pierce the orange trendline.
Gold has rallied over 26% in a few months. That is a massive deviation from the mean move in Gold, ofcourse much of this move is from banking fear. With an upsloping wedge pattern forming, gold is likely going to make a new directional move. Probabilities favor a break lower from this pattern but we shall see if Gold has other plans.
Apple, Microsoft, Google, Amazon, Nvidia, Meta. these are the 6 stocks in the SPX that have been seeing all the moneyflow. A concentration of capital in a few names does not make for a healthy stock market. It leaves the markets vulnerable to a bigger decline if money is so concentrated in a few names. the S&P500 is on the verge of a breakout but these...
This is a top short target. Keep this name on your watchlist as its been lagging the communications sector. If the communication sector sees weakness which we think it will, this name will be a relative weakness trade to the downside. Earnings approaching is the major outlier event.
HD has broken support but has not completely broken down yet. HD bulls need to recapture the orange trendline on a weekly close or else the bearish trend will break the 200 Weekly MA.
NOC is on watch for a techncial retrace to resistance and an important daily gap. With earnings approaching we may see the larger trend take place. The chart is looking vulnerable to more downside. A rally back to resistance will be a better risk to reward setup.
Align Tech looks poised to break higher. This bull flag on the weekly looks strong. Risk & reward are clear. Abide by techncial stops & targets.
PNC technically looks broken and on the verge of more downside. Can PNC pull a rabbit out of the hat this banking earning cycle? Or will the downside pattern prevail?
Natural gas has crashed when comparing it to the DBC commodity ETF. If a recession takes hold, demand destruction always prevails and it looks like Nat gas is pricing this in. This price action could be a leading indicator that many other commodities may be vulnerable to a pullback. Since Natural Gas is one of the smaller components of this ETF, it can see a...
The correlation between DBC (orange line) and Nat Gas is strong. However, Nat Gas gas does have price history where it diverges, leads & lags the average DBC price action. The white arrows on the screen display the periods where Nat Gas And DBC (in orange) diverge. Some of the divergences have lead to steep pops & drops of mean reversion. What were seeing now...
Is the Dollar about breakout? We've seen this pattern before...a classic down-sloping wedge pattern is likely to result in a bullish move to the upside. Any pattern can fail, so the next support below if it does fail is Double Bottom .
When the XLU outperforms the broad market, you better be taking note as an investor or trader. What does it mean when Utilities outperform the S&P500? The better question to ask is why do people buy Utilities? We have informed our members of this important signal and why its critical to understand this price action. A hint, most investors buy Utilities for...
Binance was in the headlines today with the CFTC. The BNB token had a nasty fall into support. This token is at a key technical area. If it loses this area, the price action can start to fall even sharper to the next major support level seen on the lower wedge. Will the largest trading exchange in the world get caught up in a crypto ponzi like FTX? If this...
The SMH is triggering a intra day topping formation. This is likely to play out as money roates out of the overbouhgt tech/ semi space. NVDA, AMD are some of the leaders already showing weakness today. If Semis fall they will take this market lower.
Clorox pattern is looking bullish and may be on the verge of breaking higher. This Consumer Staple could do a meaningful retrace of the downtrend if it breaks out of this bullish consolidation and recaptures the 200 Weekly MA. Watching for a long entry.
This financial has been holding up very well considering XLF & financials have been obliterated. One of the very few relative strength financials holding above key daily moving averages. If financials see a technical bounce this stock will likely breakout to the upside.
CVS is completely oversold and into massive support. Will see see a technical bounce in the near term? The previous breakout zone is approaching.
TMUS is looking very topping heavy on the larger term time frame. This would align with our thesis that we believe communication and aspects of the tech market are going to see some capital rotation. If this weekly topping formation is triggered in this chart we will have a high probability trade setup. Knowing the trend to trade is key.