NYSE:PLTR Here is a strong one for your watch list. This is perfectly normal action (so far) for a stock to pull back to its breakout area. It is pulling back on declining volume. All this is textbook action. I will be looking for the resumption of uptrend before I get involved. That could take a day, a week, or more. Patience will be key. I will update this...
NYSE:RTX Well Fargo upgraded RTX yesterday and give it a $120 price target. I used this morning’s early pullback to get an early start on this one. It will not be a technical breakout until it moves over 92.81. My plan is to build an oversized position after it breaks out of this flat base. I will be patient but have a stop of no more than 3% loss. On another...
NASDAQ:Z has had a nice move off its recent bottom of around 76%. Sorry to say I missed it. However, it has now been consolidating those gains for about 80 days now. It recently dipped below the 50 DMA (Red) and has now recovered for the last three trading days. I like that the 5 DMA (White) is now above all the Moving Averages. I have started an early entry...
I got into this one on Mar 6th when it re-took the 20 EMA (green) where it also found support at the 50 DMA (red). My plan was to bring up to a full-sized position on a breakout over 41.07. However, on the 13th when it did break above that it promptly pulled back. Fast forward to today once it moved back over Friday’s high (which again found support at the 20 EMA)...
If you look at this chart of Schwab, you can easily see the cup w/ handle formation. It has broken the blue downtrend line and is taking on good volume this morning. I have started a one-half size position here as the risk reward is exceptionally good. My stop will be below the most recent low which also corresponds with the 20 EMA (green). This could easily move...
AMEX:XBI Formed a flat base from early January to late February before breaking out. You can see on this chart it is either a failed break-out (with more downside to go) or it is retesting that breakout area and will soon resume its upward trend. All TBD. In addition to coming down to the breakout area it looks like it “may” be getting support at the 50 DMA...
$QQQW is the equal weight NASDAQ:NDX and it is at an all time high, forming a cup. The question is, "Will it form the handle & breakout"? TVC:RUT is in an uptrend but facing trouble at resistance. This shows that breadth is not as bad as they paint it to be. However, it could be a lot better. AMEX:IWM
... for a 1.82 credit. Comments: Targeting the shortest duration <16 delta strike paying around 1% of the strike price in credit to emulate dollar cost averaging into the broad market. There is no July contract yet, but June is still paying at <16 delta ... .
The iwm the index most quoted this year to move up %50% by most of the Talking wall cnbc well now trick and trap is now setup to take the $
... for a 1.63 credit. Comments: Laddering out at intervals, targeting the <16 delta strike paying around 1% of the strike price in credit to emulate dollar cost averaging into the broad market. Will start looking at adding in shorter duration if I can get in at strikes better than what I currently have on.
Stodgy old NYSE:IBM has had quite a run over the last few months. I am sorry to say I have missed it. Earnings are now out of the way and as you can see, we have a 3-weeks tight pattern. It has recently been setting new 52 week highs as well. If you are a Wiiliam O’Neil follower, he states in his writings that a 3-weeks tight pattern can lead to some serious...
I do not know how long this has been available on @TradingView , but I just discovered it and wanted to make sure if you didn't know about it, I would bring it too your attention. On the SP:SPX chart at the bottom when economic data is going to be announced or recently announced, click on the "Flag" icon(s) to see what it is. For example, jobless claims,...
Hello everyone! First two new charts for 2024. Another year another upside logic market. We're breaking ATH with continually decaying economic data, new banking troubles, new wars, and an election year and markets ignore it all. It's a Fed controlled market so mysterious!? Anyhow, in this chart I did a vague not so accurate EW that began Jan 2022 that bottomed...
SPY & QQQ saw negative reversal today despite the strength in semis. Major resistance is in play. IWM failed breakout on watch?
NASDAQ:AAPL I like how this is setting up. It looks like it has held the $180 “area” for a month now. It has had some good rallies from that area. I am looking for it to break above that steep blue downtrend line. It has captured the 5 DMA (white) and looks like it could take the 10 EMA too. All TBD. My plan is to go long on a break of the downtrend line with a...
NYSE:PFE is certainly a dog but, it has put in a higher low and the moving averages are starting to turn up. I like to go bottom fishing occasionally. PFE is my new candidate. I have an alert set just above the current price where it may move above short-term resistance, around the thin blue line. If it triggers and I take this trade, I can put a stop close by...
... for a 1.74 credit. Comments: Back to short puts here, targeting the <16 delta strike paying around 1% of the strike price in credit. Just gradually building a position here at intervals.
Looking at this weekly chart it looks to me that sellers finally capitulated the week of November 13, 2023. Since then, it is mostly green accumulation, and it is holding price on lower and lower volume. You can see the flat base as identified with the LevelUp chart. I had a position earlier this week and stopped myself out for no gain. I re-entered today in...