We are in the C wave of the correction. If you want to long, you need to wait for the next impulse to complete the 123. if we get a bearish flag at the end of 3, this trend down will continue. Trade at your own risk!
The solar sector looks like its consolidating, kind of a cup & handle, if this level holds im going long $SPWR. Target for TAN if it holes 26.04. A save haven from $SPX.
Shares of BAH look set to breakout and finally push thru the $40 level. It's currently in a rising wedge, and given geo-risk and defense sector strength, I like this name. I think $45 will come quick (161.8% extension) if shares breakout. Earnings aren't until May 21st, so I don't see much downside catalyst in the near term. I want to give it time to work and...
Hello friends. We have another major index confirming the bullish bias. I'm not excluding a slightly down day on Tuesday, but there seems to be a good bullish pattern forming up here. Thank you for taking a look and please be careful with money :)
Good day folks, Following a successful test of its support at 233, DJI has rebounded strongly making at the same time a higher top. So, we are sitting on something that could potentially be a higher low. The bottom trendline of this potential channel must be tested again, and maybe again. I am optimistic as we have tested 233 successfully, and we are also...
SPY looks ready to break one way or the other. Recent action suggests up, but geo-risks may cap us.
What a wild ride this has been! Late last night, the Chinese President delivered a speech that eased trade-war fears, as there were several items he "promised" they were doing or going to do. Of course, most of these things were things we've heard them say they'd do before, so it was all posturing in my opinion. Talk is cheap... show me the goods! I...
As clearly shown on the chart, the market is not in a downtrend as many may suggest. It has rebounded off of the underlying support line multiple times yet to break through. However, if it does make it through this point, it could very well go into a free fall towards the previous support dating back to 2016.
SPX has been a wild ride... even experienced traders like myself have been getting pushed around, stopped out, and left scratching our heads trying to make sense of this market. It's times like these that it's important to remember that the "why" isn't that relevant to us from a trading perspective. Technical analysis provides unbiased, objective, and most...
When a stock can be resilient during broader weakness, I'm interested. The technical picture is looking interesting, too. Several indicators and oscillators are signaling to buy (denoted with round, green arrows). It's held above the 200 day moving average, which also bodes well. I suspect we'll get weakness tomorrow, as futures fell sharply earlier. I've...
The market's current instability is due to talk of "trade war" with China. However, the support line as shown has rejected the fall two times so far. Unless the market breaks through, you can continue expecting an upward trend.
DIA bounce off 200sma (first test since June 2017) into a Turtle Soup Buy. Higher momentum lows. Powerful short term reversal setup. 234.85 cancels the setup. Trailing stop.
With Pre-market futures trending at a loss of over 400 points, today and the rest of this week we face a significant test of resilience in the marktet. On one side, the last quarter boasted solid earnings mustered by slight productivity growth and a favorable tax plan; however, on the bearish side we are looking at unfavorable trade circumstances and a slight...
Sooooooo....That hurt....(some of us, not so much others). My last technical call/idea (see below), that a descending triangle in DJI that had broken downwards on 3/20 would lead to a sell-off after the 3/21 Fed announcement was fairly accurate...Although I had no idea that it would be precipitated by crazy announcements about tariffs, trade wars, FB scandals,...
Good day folks, One of my favourite pattern is showing up on the one and four hour chart. I’m a very short-term trader who often scalp a couple bucks intra-day. However, I will be opening a position in this longer timeframe trade, because I just cannot pass on it. This is a bearish pattern. I don’t know if there is a name for it, if there is one please educate...
Nine years in, and SPX has rallied 258% (total return much higher with divs) off the ominous 666 level (666.79, to be exact) that was the low point during the financial crisis. As the Elliott waves suggest, we could be in for a steep decline to test the double-top-breakout level at 1510, which using recent all-time highs, coincides with the 61.8% retracement of...
Confluence of factors bringing indecision in the market; what's the next step? Looks like everything is consolidating and compressing, taking a pause from the long term bullish trend; in particular, $DIA is sitting on a strong support from which it bounced off on the most recent flash crash of early February and another confluence is given by the approaching 200...