This stock came up on my option scanner and I have to say that I totally agree. This thing could just be getting started.
I looked back to see how price reacted at this level when the above indicator was this far extended. We got some pretty nice gains, most notably the first.
AMEX:SPY , CME_MINI:ES1!
I was surprised to see in the indicators lining up in this way. If you look at the previous times I've marked on the chart, we saw some pain following a 0 cross of the top indicator in addition to the action in the lower indicator.
I think people may feel caught off guard leading to some volatility but if this is the case, I would be...
This stock came up on our screener and looks like it could be coming up on a longer-term resistance level. Water could become more difficult to access as supply chain shortages are affected, rising the price of even every day essentials including clean water.
I'll keep an eye on this stock, the indicators are all very bullish and looks like a...
The behemoth that is NASDAQ:AAPL is going to report earnings October 28th. Typically, most stocks experience a "pre-earnings run-up" with most of the gains in the options contracts being made before the earnings announcement. That is particularly true with tech companies.
With that in mind, the resistance level is going to come in around 153. That will be the...
Sorry for the delayed update.
SPY has been extremely bullish since my last post where we were bought up at a critical technical level of confluence. With the amount of strength that came in at that zone, it signals to me that it's not the broader market controlling these moves. As long as the the technicals are in tact, that's what matters. For now the...
Even with everyone following tik tok and social influencer trade ideas, there are still market technicals that will prove superior.
Make sure you guys have this chart in mind when taking longs at all time highs.
Profit taking can quickly turn into a more dramatic drop as demonstrated by this chart. NASDAQ:QQQ
Scanning through the sectors I noticed something quite clear, an inverted head and shoulders with a possible retest playing out. This is supported by the laguerre rsi below. I'm expecting prices for XLE to go higher and potentially confirm a megaphone pattern.
The top Indicator is showing bulls taking control and that matches up nicely with out trendlines. We completely avoided a heavy resistance area by gapping clean above it. The lower indicator is not yet as strong as I'd like it to be but the move is supported by other features displayed on the chart.
An update on the SPY Chart shows continuing bearishness. We are not getting back to the 0 line on our upper indicator and falling further below our current level on that indicator would be a very bad sign for the market.
Inflation doesn't seem like it's going away and crypto may be showing itself as an inflation hedge.
For those that are following this chart... You would have been well aware of the weakness the market was showing overall. After a bounce higher, we were never recovering on our Laguerre RSI. The explosive move to the downside today was flagged by the weakness in that indicator.
I would totally have posted yesterday but It was my girlfriends birthday...
As a way to get exposure to the China housing debacle.... I go over my chart on a new position I opened that has relatively low volatility considering the weight of exposure it may have to the chinese housing collapse.
Is a great way to make money part time, especially if you can do it to invest that money in to the market.
Why do I do Uber?
That's simple... I do not trade with money I cannot afford to lose. I love investing but I also love paying my debts. Unlike China... ok that was pretty weak.
Anyway... This demonstrates buying the wrong break out and what...
Yesterday I posted some trendlines for SPY that ended getting bought up in the morning. Today we are checking in with reality to see if the overall outlook is as bad as it seems. I'll be following these lines closely as well as our Lag RSi since we are showing overall weakness and further downside is very possible.