Stocks are ranging at highs. We do anticipate another run for ATH's soon, but it is highly likely we will see a retracement first. The levels 3758 and 3737 are great levels of support. The Kovach OBV has flat-lined, which suggests that momentum has run out. This is not a very good sign especially at highs. The S&P is stretched like a rubber band and will snap...
Stocks are ranging at highs, caught between all time highs, a technical level at 3825, and the nearest Fibonacci level, 3784. We are seeing some consolidation here as stocks find footing. Our target still remains 3856. Beware of some retracement first, even a 50% retracement would still be considered bullish. That would put us at 3726. There are several...
Stocks are ranging at highs. There is a divergence between the price action and the Kovach OBV. This suggests that the momentum just isnt there and a correction may be in store. We should see some support at 3759, a technical and Fibonacci level. Also 3739 and 3695 should provide major support. The next target after current highs is 3856, a Fibonacci extension level
CVS just hit prior resistance with a daily candle matching the previous peak. Not only that, WBA had a breakout of a massive downtrend, but the last two days formed a tweezer top so there is some bearish correlation here. I expect CVS to get rejected from here and move down to the bullish trendline at around $70.
Stocks broke past new highs, hitting our profit target. The S&P is facing resistance at 3825, and it is reasonable for it to retrace. There is not a lot of momentum to this rally as measured by the Kovach OBV. New highs should take some momentum to punch through. If we do retrace, we could find support at 3792 and 3784, which are nearby technical and Fibonacci...
96 Break could open 108 target. AMD kicking some Intel booty.
Stocks did not seem to care about the revolution in DC at all. They have retreated from the massive correction on the 4th to highs again, finding support one level below all time highs at 3758. Interestingly there is a divergence between the Kovach OBV and the price which suggests we should see lower levels again before breaking out further. The levels 3737 and...
Quite incredible, that despite recent rally in stocks, megaphone setup still remains valid and could be in play for TVC:SPX For almost two months now index is moving allong resistance and having hard time to break it out to the upside. Higher levels definetely possible, but I would be more concerned with taking profits and buying protection right now.
Stocks are extremely volatile lately. It does not seem like they've gotten the risk on memo that caused bonds to collapse last night. After that dip, it still seems like the S&P is feeling out current levels, between 3676 and 3737. The Kovach OBV has tanked but is currently flat lining, a testament to the ambivalence. Keep in mind, that even if it were to...
EOH is a solid recovery story and after a very good run in Q4 of 2020 is now consolidating in what looks like a bull flag. Watch for a break of this flag for a possible target between 1000 & 1100. No position. Wait for a flag break.
Currently trading off support and building what looks like a bull flag. Watch for a bull flag break for a 16000-17000 target range. Suggestion is to take half position now on support and another half when bull flag breaks. Stick to stop losses.
Gold recently broke from a multiweek range and gold shares followed. Watch Harmony after it broke from the range and is today testing that breakout. A lot depends on USDZAR weakness and the $ price of gold. Possible targets on the chart if this range break momentum is maintained. Looking bullish at this stage.
We warned you stocks would face resistance at highs and a retracement was likely. But we admit that we didn't anticipate the extent of the fallout here. The S&P blasted through the levels we have identified, at 3737 and 3714, and then a few more before finally finding support at 3665, a Fibonacci level. The Kovach OBV has registered this dip and verifies how...
Stocks made new highs, which is a great way to start the new year. Unfortunately, the Kovach OBV is somewhat bearish, oscillatory at best, so it would be best to exercise caution here. Let's see what happens more toward open. If there is continued momentum, we can push further. Use the Kovach Momentum indicator to measure this with respect to the open of...
Stocks retraced exactly when we said they would, finding support at the level we identified. The S&P still may retrace further and be considered 'bullish'. The extremely bullish can consider this a buying opportunity. The more conservative bulls may wait for a nicer pullback, to 3714 or 3694. The Kovach OBV has slumped, so we may see a nicer correction soon. ...
We finally did see a little dip in stocks, but nothing terribly significant. Unless there is some breaking news on stimulus, vaccines or some other world event, the S&P should range about current levels. The level 3758 is significant at new all time highs, and its doubtful we will have the strength to break this, barring some new event. The sideways correction...
Stocks have made new highs, yet again. We anticipated a retracement, and still feel one is due. At this point, 3737 will provide support. The next level of support will be 3714. The Kovach OBV has been trending up but it does not look quite as strong as other times when stocks have rallied. There is no reason to be fearful of a bear market yet, but certainly...
NYSE:SNOW is one of the most overpriced companies you can find right now. After post IPo rally, stock is struggling lately with poor relative strengh to Nasdaq. Potential breakdown of Head&Shoulders gives potential for new lows at $200 right now. However, its not low risk entry idea, so prepare for some volatility.