For detailed commentary and discussion, please refer to our blog post published on 7/23/14: www.syncubate.com
The bald eagle can fly, but US markets seem to put it to shame, flying even higher, with QQQ taking the lead. A National Symbol change may be in order here, but I digress.
Since the mid-April lows just below $84, QQQ is now up over $14. Quite a run, no...
For detailed analysis, please see our blog post dated 7/20/14: www.syncubate.com
A tug of war is in play here between the bulls and the bears.
This is now the second time since the beginning of July that the 20 Day MA has served as a support on a pullback.
Although Friday's trading action was no doubt bullish, -DMI is still poking its head up above +DMI, as...
In our latest blog post, the subject of trading losses is discussed, with an emphasis on establishing rules and having a trading plan in place in order to overcome hurdles and facilitate one's long term success in the markets.
For the detailed blog post, please refer here: www.syncubate.com
This chart on QQQ is an example of framing a trade, such that one has a...
I had to redo my chart after the stock split so it gave me a chance to take another look and redraw. Here's an updated chart that may or may not prove valid. Price does seem to react at the various tines of the fork.
Daily closes above the mid fork would bode well for AAPL. Price rejection by the mid fork and closes below 90 would have bearish overtones for AAPL...
It started 2014 year as laggard and was trending lower in bear channel. But then it bounced off of 200 EMA with RedDogReversal, regrouped and have built higher highs. Finally, sentiment changed when it resolved this indecision area with break up of resistance at $88.60 with nice 4 days follow through. Traders should adapt and make adjustments if they want to...
QQQ retested the blue trend line and got rejected (so far). RSI is weakening (but still above support). MACD turns negative. NASDAQ 100 above 20 days MA (NDTW) is declining indicating deteriorating internals.
Powershares is showing signs of potential bearish crab pattern. The PRZ is measured from A to X leg at the 1.618 extension level at price $96.23. Even though there is naked structure around $96.28 kill zone, There is confluence at $96.28 at the 3.618 & 1.618 extension level. This should act as resistance. If this plays out, we should see a good rejection which...
There's a potential gartley showing up. If C leg can make it up to $92.68-$92.74 we may see reversal in price upon the completion for an intra-day trade. For longer term, price action may trade down to 91.08 to complete a Bat pattern. There's strong structure around $91.42-$91.13. The Bat pattern would make for a perfect retracement back to the trend line, if you...
In a chart similar to SPY, QQQ has reached trendline resistance and need to consolidate before another leg higher is possible. When prices move quickly vertical they need to take a moment and "cool off" before another wave of buyers can move in and push prices higher. A candlestick pattern detailing the selloff hasn't appeared yet as price is still higher but...
QQQ showed strength last week but now a pause may be in order. Price rallied to the overhead trendline and over the last two days has formed a small spinning top. Any reversal is probably a buying opportunity but we need to see the setup. With the recent volatility in QQQ the sell off and reversal may be quick.
While the stochastic remains heavily overbought (which it can for extended periods of time) price broke through resistance to make new highs. the bearish hanging man formation was rejected and we have new highs. While price may retreat a bit from this level the channel higher is intact. Prices will continue north over the medium term.
Today's price action took AAPL up to confluence of 50% fork resistance, prior pivot from April 2012 of $644 as well as TL extension backtest. Counter trend traders could look to short this area with a stop on a close above $645.
Though market looks toppy, there is still a good chance it can bounce up and climb even higher. July 2007 to October 2007 period is an example. But watch the red support lines carefully.
This chart is a comparison on GE and the SPY, and how sometimes GE tends to Sell off before the rest of the equities. Usually SPY would grind sideways for a few days, while GE has been selling off to the downside. I still think SPY in going to grind for the next few days before It starts another leg down.
It is difficult to buy here after $40 move from earning's gap but on intraday basis there we can still trade tactically keeping long in our mind.
Actually, it is one of the best stocks in this choppy, range-bound market because after earnings was released it had nice, powerfull 2 days continuation move then some rest, inside days which is healthy after such a big...
This is a 4 hour chart of the QQQ and it shows both the bullish and bearish side of the argument. I have a bias to the bear side due to bearish divergence on the weekly chart and also the head and shoulder pattern. However, the bullish argument is that we have an inverse head and shoulder pattern ( green) opposing the Bears, and also the fact that we are still in...
A SHS formation in the Nasdaq Composite with a well defined neckline.
Measured target 3600 where structural support is found in the middle of 2 gaps....
(One being closed - the other to hold as gap support)?
Daily RSI at 48,.53
Neckline has to break first!!!
Safe trading ladies and gents!
BM
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