TRADING ACTIVE Chart Details SMH had sell signal on Daily yesterday. I entered trade but did not post. Waited for trend dots to confirm. Trend dots confirmed bearish trend very end of day. Gaps to fill below down to $111. Weekly RSI trend is about to breakdown. Daily trend dots confirmed bearish trend. I will post a Weekly view chart for SMH when trend...
I AM NOT ENTERED IN THIS TRADE Waiting on Weekly view Sell Signal – which will trigger with price below $210.73 Chart Details Sell Signal on Daily View on 12/30. Overall chart pattern is bullish breakout of wedge. The next bearish trend will be short-lived. Trend Dots show next Weekly trend is Bearish. Exits- Since BABA is overall bullish, I would exit at...
I AM NOT ENTERED IN THIS POSITION. I will update with possible entries. Looking out to entry next Monday or Tuesday possibly. QQQ is at the "longest run" its had in history. This is when I start looking at bearish entries. Matter of time to downturn. Fear and Greed Index at 93 money.cnn.com Chart Details We are off the rails with QQQ - going into outer...
I AM NOT ENTERED IN THIS BEARISH POSITION...YET. I will update with possible entries this morning after reviewing chart ideas. Entry updates will be made at once on all charts when applicable. "A Minsky Moment is a sudden collapse of asset prices after a long period of growth, sparked by debt or currency pressures." Named after economist Hyman Minsky. This...
THIS IS NOT READY. I will update once there is an entry. Keep in mind - Markets close at 1pm today. EARLY CLOSE A Santa Claus rally is a calendar effect that involves a rise in stock prices during the last 5 trading days in December and the first 2 trading days in the following January. www.google.com Based on Santa Claus rally, we have a 76% chance of the...
THIS IS NOT READY FOR ENTRY BEARISH IMO.....YET I will update once I enter or see a position entry upcoming. AAPL Weekly RSI is 84. Extremely overbought. Weekly bullish trend has remained bullish since June. Angle of price around 45 degrees is not sustainable at this time length. It's simply gone on too long. With gaps to fill down to $99, there is...
Bloomberg article from yesterday sees 50% chance of correction in 2020. www.financemesh.com Current Daily trend shows we may get to 3300 before downturn. RSI trend should indicate when uptrend is broken. We have a RSI high on 92. If we get close to this, get short positions ready. I plan to be playing 14 day entries for options put contracts, or call credit...
NVTA recently formed a double top. It looks like the pattern formed a bear flag after the double top. It just broke the consolidation of the bear flag and is continuing down. Trend just turned bearish on the Weekly view. To me this indicates I can enter the trend that started, rather than try to get in front of a trend reversal. If I get on these, I will...
AAPL had a selloff this morning which was erased by the Trump tweet "we are close to China deal". Funny how this is timed right at the market open. Trump and his buddies wanted to get in on some more cheap Puts before market goes down. LOL Moving average is coming for this like a shark. There is no Trump savior at this point. 4Hr, Daily, and Weekly trends are...
30Min view of SPX shows we stayed within the current wedge pattern for the most part. There was a small increase above the resistance line which moved the tip of the pattern back by 7 hours. (I don't think this is big deal) 10WeekMA is coming from below like a shark. IMO we have less than a week before SPY/SPX turns down. News - Steve Bannon was on CNBC this...
Using the 10WeekMA for SPY we can see selloff's occur the last 3 times when price was within $8.60 or less of the moving average (red zigzag). We are currently less than $8.60 from the moving average - but no selloff. If we use the normal moving average on 64bars, and ignore the double jump up, by 12/13 price is closer than last selloff. Last selloff price was...
SPX / SPY - the final wedge within a wedge pattern has little room left to expand further IMO. Top white resistance line is multi-month resistance from Weekly view chart from 12/9 (see link below). RSI trend is already high in position and short. Bollinger Bands are tight. Going back in pattern, last time price angle like this with tight bands we have...
THIS IS NOT READY YET IMO IHI - Medical Devices ETF Forming an ascending wedge similar to much of the market. Bearish pattern. Pattern runs out of room February 2020. Watch closely Jan. 15 2020 going forward for entry. When Weekly trend turns bearish and gets close to white resistance line for breakdown, this would be entry point. I will update getting...
The fake breakdown in AAPL and SPY is getting old, but the moving average cross is becoming unavoidable. The blue resistance line in the AAPL chart is multi-year resistance (hard to breakout). 10WeekMA is pressing upwards toward this blue resistance line, leaving price no room. 10WeekMA is moving roughly $1 per day closer ($4.90 every 5 days). With current white...
SPX / SPY is overextended and on a weekly basis has been bullish over 12 weeks. This is abnormal with RSI on Weekly in the 80's. But we keep getting these breakdowns, which lack momentum, and form back into same pattern. Wedge which has resumed now ends on 12/12. My SPY Puts are for 12/27. I am going to consider getting some out into January if price falls by...
MSFT showing that the breakdown last week which occurred did not confirm by breaking the lower channel. Price needs to break pink and white lines to continue down and fill the red gap boxes. Resistance line and trend line cross this Friday. This means we may see sideways movement until Friday/next Monday. RSI trendline was broken last week. RSI current trend...
MTUM is the ETF ticker which tracks momentum. The pink lines show a megaphone pattern, which is bearish when tilted up. education.howthemarketworks.com The inner white trendlines of the megaphone show price hitting the angled resistance. The angled resistance crosses the current white price trendline on 12/13. Going back in history with MTUM, inside the megaphone...
AAPL Weekly view shows how overextended this bullish trend really is. RSI is currently over 80 and has been over 76 since October. Yellow ascending wedge protrudes out the top of the main blue multi-year resistance line. (from Outter Space AAPL chart) In the history of AAPL, there are no instances where price spikes out the top in such a manner. The blue...