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.
The Market's longer term uptrend still intact. Breadth is deteriorating again. These names have shown good relative strength and accumulation volume and most are in the growth sector. This may give good risk/reward entries on some of the best names. Some of these charts still need to confirm their price action. This video is my watchlist. Most of these names are...
This stock just recently did a direct offering to fund the purchase of cyrpto mining tools. That looked like it was going to bite them in the butt yesterday but with the flash sale and subsequent recovery, ANY might be a good choice as long as their is no funny business in regards to stock manipulation. Buyers are here and are interested in this...
I hope everyone is having a blessed day. Today I'm posting a symbol from our watchlist. Spotted in the options market. We are watching INTC to see more strength and break above this trendline and possible downward trend. These are the levels to watch over the next few weeks whether long or or short.
Here is what stocks we are watching for this week!
Looking for a $420 breakout with targets of $425 and $430
Nice bullflag showing here, looking for a break over $41 with targets of $42 and $43
Currently sitting a major trend resistance, we are looking for a move over $346 with targets of $348, $350 and $352
There's a new TradingView feature that lets us share our watchlists. I'm partial to my sexy collection of futures symbols, so go ahead and grab it here: www.tradingview.com
Also, I've got a sell/short signal on the notes. RSI (upper 88), 3-period is a bit juiced.
And finally, the best resource for futures symbols and product...
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.
After several days of a massive sell off, the pain looks like it could continue further. The Laguerre RSI shows favor of the bears and we are currently pinched between two of my favorite moving averages to watch. We have a larger trading range opening up and could see price retest higher before continue it's downward momentum.
Be careful in this market!
We saw a strong impulsive move to the downside after a long corrective phase. We shall now keep watch on what may appear to be a small flag formation before we decide whether we will take more pips to the downside or maintain a corrective phase in the meanwhile.
Share your thoughts and suggestions are welcome! Happy trading!
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
The Market's longer term uptrend still intact. These names have shown good relative strength and accumulation volume and most are in the growth sector. This may give good risk/reward entries on some of the best names. Some of these charts still need to confirm their price action. This video is my watchlist. Most of these names are at or near all time highs or...
We got some tapering news today but on the verge of world instability amidst covid resurgence and the fallout from the withdrawal of US Troops from Afghanistan. Clearly the Mid-East was much more volatile than we were lead to believe. The best thing to do in the market is keep your mind neutral and don't marry your position. As we've seen all year,...
In this video I break down my current technical analysis and forecast for crypto markets as well as give you an update on my weekly watchlist. I break down the new names last so you may want to skip to later in the video if you are only interested in those. Please note that this is not financial advice. Feel free to comment with your thoughts :) Good Luck!
I am going to post some more ideas from our unusual options screener.
After seeing some of the plays uncovered here I think it would be awesome if more people could benefit from charts and ideas like this one.
For this post we are looking at Starbucks. We are seeing increasing call activity come in on the October 1st Contract at the 125 strike. Let's see how it...