Short term I am guessing we see lots of chop. I personally am trading SPY QQQ XLK SMH XLF and some AAPL and VIX. I am looking for RSI and/ or PPO divergences on the hourly and daily timeframes.
Longer term technically speaking we have broken down. If we are going back to new all time highs any time soon we need buyers to start to step in ASAP. The divergence on...
Looking to go long for a bounce. Time frame = overnight to a few days. Beware of thanksgiving week. (likely to see low volume especially later in the week.)
Similar set up on many other charts as well. The only others I may play are XLK and SPY or SPX
Although I rarely trade the semis anymore, I always watch them as leading indicators for the rest of the market. Currently holding LRCX puts. A lot of bullish sediment this last week however the bulls are still yet to undo a lot of the technical damage done by the bears this year. On the chart I have highlighted some key areas to watch. Remember this is a monthly...
The momentum is currently favoring the bears but this type of consolidation is unprecedented and implies a big more coming in my opinion. The direction of the move is yet to be determined, but I think a buy stop order over the green line with a stop loss order below the red line is worth the risk/reward.
Elliott wave. Negative divergence. MACD bearish cross. I really hate to be bearish on the entire economy. I am just posting my observations. No current positions. Made some good money last week on SPY QQQ XLF XHB XBI puts. Another noteworthy sector to watch is the semiconductors. They have been a leading indicator of the overall market for a while. I would love to...
