Facebook continues to have difficulty even throughout this
rally of the indexes. Weak close of this bar on Friday and we
will initiate starting a short position
@MaximusAnalysis
Major levels to watch are 116.21 / / 118.92 / / 121.66
Also this week is the turn date based on weekly price cycles.
Right now after such a rip from the lows. We have to see how the price reacts at these previous sell areas. We want this blue uptrend line to also hold.
Again when the trade is crowded its easy to squeeze the masses that chase the trade.
Max
You can see that Solarcity has taken a pretty good beating from one of the high flyers 2 years ago. What we see right here is that we have a level that has to hold.
5-9-2016 low is the line in the sand that the bulls have to defend with all they got. Break of that and a test of the IPO low.
You now have your defined risk and need to see at least a higher...
Being that priceline has been sideways for 2 years. We are looking to see if it pops back above the 1280.25 area and closes this week. Again it took a nose dive for earnings but lets see if this bounce is dead cat vs legit.
Max
So I posted this chart a couple of weeks back but the 5th wave ended at 162. Again I will never be one that only posts things that are perfect because that is not what trading is about. Really have to watch things being that the financials are still looking weak after earnings.
Keep watching here....
Chesapeake Energy has been in a downtrend and under this 200 moving average for almost 2 years. Now that we have cleared this marker will this be the level that springs things to that 9 dollar marker. 6 dollar psychological level as well as 200 moving average need to hold for the bulls here.
VRX has stayed below this trendline for months. Now we have to see now that we have about 5 days above will we break up or down. We have to really ensure that we are looking at the volume of the breakout/down out of this channel.
Crude has continued its upward march from the 26 dollar lows. It has hit one of our levels here at 46.12 and produced a doji candle. At this time it is safe to say that we should expect some type of pullback of crude. A 20 dollar move is a hefty one and last thing we need is to think that it is going to $60 dollars overnight.
Lets stop snorting like a pig...
Really looking at next week to tell us exactly where we are. Volatile action with wild intraday moves have been the norm for the last 2 weeks. A hold of this weeks low is critical for the bulls to regain traction. Tonight's open should give us a little sign of things to come.
Again remain flexible and look at the levels we post in the morning. Always have...
This could be a really really fast move upside for gold. Again in the environment that we are I am fine with being a little "late". There were many bulls that went long yesterday and are not getting crushed. Remember that patience pays and perfection doesn't exist.
