First Thing You Need to Know Here Is That All The Strategies in the world are only successful if you can exercise the patience required. Sitting Tight Is the most important skill not reading charts. I Went Long In Balamines on 26th October 2020 Basis A Weekly Inside Bar Breakout. The Stock Was In A Strong Uptrend Before This And Had Taken A Pause Between August...
WMT flopped its fourth quarter earnings in 2020 announcing -.74 cents a share. I expect a report with a lot more strength with integration of E-commerce into it online store models as well as less fear surrounding COVID-19 creating boost in sales. With only 1% of shares floating short, The slow grind up, which has been evident since the middle of March, is likely...
Stocks have ripped to new highs. The S&P is currently facing resistance at a Fibonacci extension level at 4073. The Kovach OBV has leveled off suggesting that are overbought and may see a retracement. There is a vacuum zone back down to 4009, but 4040, roughly the half-way point may be a nice support level as well. Our next major milestone is 4144, which is...
Stocks broke out to all time highs! We sensed they were poised for this, and there were two options to trade: anticipate the breakout or wait for a dip to lower levels first. Those who were patient were rewarded with a slight dip to buy, and those who yolo'd had to hold underwater a bit. We are currently seeing resistance at this new high, and a red triangle on...
Stocks have regained highs. The S&P has just barely inched above highs at 3987, but is still having trouble with 4009. We are seeing some weakness at highs and there are two possibilities. First, we could see a retracement and continuation of that consolidation of volatility preceding the breakout. We could see a wedge or flag form. If so 3928 will be a good...
Stocks have retraced a bit from relative highs. The Kovach OBV is strong but has leveled off suggesting that we could range a bit at current levels. It is highly likely that the S&P will form some sort of consolidation pattern, either a wedge, flag or sideways continuation before the breakout. The retracement was paltry with respect to our expectations. The...
The S&P has continued to climb, and we have met relative highs again near 3987. However we are currently facing resistance here. We saw a swift rejection from these levels and have just breached the vacuum zone after breaking 3963. We will see support again at 3937 and 3928. It will take some momentum to break through these relative highs which will provide...
Small caps have underperformed of late and price action in the Russell is testament to that. We've seen three bearish outside days this year, and granted the sample size isn't huge - a function of viewing this on the daily - but in the prior two episodes, we saw the index fall around 9.5% on average in 7 trading sessions. With bond yields creeping higher, amid ISM...
Stocks caught a lift at market open. We've reached 3978 before facing a bit of a retracement. The Kovach OBV is strong which could suggest momentum is back. It's about time the malaise lifted for the S&P. We still need to break relative highs at 3987 to be considered properly bullish. We will definitely face resistance here. Then the next target is 4009. It...
Stocks took a significant hit yesterday. We stressed that they would find support around the 0.500 Fibonacci level and that was exactly where they found support. Subsequently a rally took us back to the 0.786 Fibonaci level at 3933, also a level we highlighted yesterday. The S&P appears to be forming another pseudo-megaphone pattern, 'pseudo' because we are not...
After KAP broke the inverted head and shoulders neckline around the 342 level, it retested the breakout level and then moved up to reach the first target of 439 before it pulled back into what could end up as a bull flag. The flag still needs to be confirmed as it still forming. Watch this consolidation pattern carefully, as a 425 break could indicate that the...
After breaking from a very defined channel between 4500 and 3900 in mid January the share moved strongly to around the 5275 levels from where it started to consolidate in what looks like a bullish flag pattern. A break of this pattern would be very bullish and would be an indication that the price target of 6000 is within reach.
Zeder has been trading within a defined consolidation channel for 5 months now. The bottom of the channel at 250 was reached once again and acted as a support level for a bounce. Channel players could add at these lower channel support level for a top of the channel target of 275. Watching the top of the channel closely as the previous break in February turned out...
Stocks retraced back to the support 0.618 Fibonacci support level at 3890. They are continuing the rather narrow range between this level and 3963. The Kovach OBV was strong but has flattened. It really could go either way at this point. Another retracement could take us to the 0.500 Fibonacci level at 3860. A rally would have to break 3933, before we could...
Heading into today’s European trading session, the risk tone is leaning risk on with Asia-Pacific indices mostly positive, measures of volatility subdued and safe havens pressured. In the FX complex, the positive risk tone sees JPY sit at the bottom of the F majors, followed closely by CHF with USDJPY set to test the 109.00 handle to the upside, while NZDJPY...
RBC discussed its S&P500 expectations for 2021 in a recent note to clients. RBC noted: Our 2021 S&P 500 target of 4.100 is our base case. It is roughly the median of 15 upside scenarios that we examined. If our call proves too conservative, our analysis suggests that the S&P 500 could trade as high as 4,600 for a +20% full year gain - the most bullish...
Stocks retraced and are correcting sideways. We had a fairly risk-off/neutral day yesterday. The level 3890, or the 0.618 Fibonacci level is definitely providing some support right now and seems to be a lower bound for now. The Kovach OBV is trending up but has flatlined slightly. It could go either way from here. Further retracement could easily take us to...
Stocks are struggling, and it appears virus woes may be putting a damper on them. The S&P made a run for 3963, but fell just short of this and retraced back down to 3933 or so, which is a Fibonacci and technical level. We should see support here, but if not, 3890 would definitely provide support. We will find further support at 3860 or so. The Kovach OBV is...