IWM managed to back test the short term bear area and it also bounced off long term fib fan support. I like the volume but still too soon to call a bottom. All I know is that the CBOE alerted to huge put buying in this sector even Friday. Careful. If markets take a break this will fall first.
I see lots of issues setting up in Retail this week. I see no reason to press longs at this point short term.
Likely to see some profit taking this week. I am bullish this market but I see lots of reasons for short term exhaustion.
Sure looks like we are set for short term down turn to my charting. We closed September amazingly strong. Lets see how October starts.
This is one unhealthy chart. I have said repeatedly I did not have FB at solid support yet. This is not a good place for FB to be starting a new Month. I see whole lot of risk in all social media stocks.
I see lots of reasons to lighten up on AAPl here. It is at the 1.618 fib extension of the last bull leg hire. Also, at short term fib fan resistance. Likely sideways or lower into earnings is my take.
This is not a pretty stock. I do like how this retest of the descending wedge is not at fib fan resistance. Legs more likely for this beast. Market Dependent. It is coming off a solid quarter and guidance.
I wouldn't go over board shorting this stock. It has WINGS. All contingent on the markets but the expected measured move looks like will hit before year end. One stock that looks like an earnings pop in the cards to near $130 area. All contingent on the market.
One of my favorite shorts. The uptrend is dead. No near term support. $110 area likely in the cards soon.
Well, the trend breakout happened but EA is right at the monthly FIB fan zone here. Now we see if rel buyers or further short squeeze.
$M tight consolidation here. I have $XRT (Retail) breaking down next week. Time will tell.
MU sold off on earnings but so far they supporting price. When a stock doesn't sell off on bad numbers it makes you think there are buyers waiting for the dips. I don't even have it crossing a weekly or monthly fib fan zone. Any ones guess if it can hold up. I'd feel better to see a rapid dip below to accumulate. Right here the auction seems in parity. I...
The accelerated uptrend is exhausted. Odds just as likely INTC resets back down to the primary trend line. A little late to initiate new shorts. Dangerous for a swing trade. Some charts better just to trade day trade momentum.
I am watching the post earnings gap last quarter that GOOGL is still below. Looks like a magnet for an earnings run up. All depending on how the overall market behaves.
Well, if my charting holds true AMD is still in the rapid ascent phase. That means better odds to buy the dips here. I won't swing trade this to the short side yet.
I just don't understand why this part of the Oil sector continues to under perform. I am asking for input explaining why the strength in XLE isn't getting translated over to the $OIH sector.
KRE confirmed the trend break down yesterday. XLF is the next domino to crack. I have little doubt we are about to see nice correction in the financials sector.
No One talking about Materials sector today yet it's the one that changed momentum character today. Leading indicator for Industrials. It might still take some time to start falling but the cross today will change how institutional investors chase momentum in this sector. This isn't necessarily a good short but it is something to be aware.