I am predicting that the move we are seeing in the Dow is a move back to the upper trend line. This is just my opinion, I am bullish for at least the first half of 2017.
Will be watching CHKP closely for a pullback, from March to July a Head and Shoulders pattern was formed. I will be watching to see if CHKP is in the process of forming another Head and Shoulder pattern. What are the odds it does it again?? Any way I will be watching it for a possible bearish trade.
In my opinion we are forming a double top on the SPY, I am looking for a pull back to around the 220 area before moving higher. I could be totally wrong (wouldn't be the first time!), I just have the feeling the market has moved too far too fast and has gotten ahead of it self and needs a pull back.
Macys at a support level, will be watching closely for a bounce to go long (shares or calls).
EQT is at a support level (lower channel), will be watching closely for a bounce to go long (shares or calls)
A pretty clear inverse head and shoulders pattern has formed, it's a little cleaner on the weekly time frame. I will be watching for a break above the neckline for a possible long position.
LVS is pulling back, looking for a bounce around $53. If it does will look to initiate a bullish swing trade.
Tesla has been trading in a downward sloping channel for over six months, I will be watching Tesla closely next week for an opportunely to short with shares or Puts.
Looks to me like a Cup and Handle pattern is forming. Will keep a close I on CVI for a breakout above the cups high.
To me it looks as though FCX has formed an inverted head and shoulders pattern and is now retesting the neckline. I will be watching for a move higher and consider buying shares or calls.
Cup and handle formation in the daily time frame, I realize I am late in identifying it but I am just practicing spotting patterns, would have been nice to spot about a week ago :-(
LVS faded on Thursday, Gapped up on Friday above resistance but also faded (possible dead cat bounce). Will watch this week to see if LVS retests resistance and pushes through or rolls over and heads lower.
The Q's are at the upper channel resistance, could we see a pull back to the lower trend line support level?
Silver looks like it is forming a head and shoulder pattern on the monthly time frame
CLVS at resistance, possible bearish swing trade, will be watching closely for a reversal
Looking to initiate a bullish swing trade, my trigger is at $6.23, my stop at $5.62 and my target is $7.45 (2R). Whether it works or not I have to thank Real Life Trading (Jerremy) for this trade idea.
What can I say, normally I am a market bull but over the next few years I see the markets moving lower. Short term I could see a relief rally after the elections lasting a few weeks but then lower into 2017. A combination of global macro events (black swans) and central bank policies around the world causing unintended negative forces on the markets (global...
The morning star reversal pattern indicates GLOG sound push higher in the short term. My belief is the overall market will experience a post-election relief rally lasting several weeks which will aid the move higher. As a side note, my longer term outlook on the markets is bearish.