TheTechnicalRoom

TheTechnicalRoom

Looks like we are going to Gap up above 97. If you are lucky we could pull back to yesterdays high for a re-entry. If not you can enter above the 15 min bar high. This trade is good to the 100 level were it will face major resistance. Reduce half and re-enter above ATH

TheTechnicalRoom

What is the definition of Technical Analysis? From Wiki “technical analysis is a security analysis methodology for forecasting the direction of prices through the study of past market data, primarily price and volume. Technical analysts believe that prices trend directionally, i.e., up, down, or sideways (flat) or some combination. The basic definition of a price...

TheTechnicalRoom

This chart was drawn for @howardlindzon little competition to see who can guess when $goog will cross the $SPX. Looking at the correlation of $goog vs. $SPX I find this very hard to happen. Currently they have a 96.5 % correlation and $goog has approximately 65% of catch up to do. This year $goog has gained 58% ytd and the SP500 has gained 29%. If everything was...

TheTechnicalRoom

Currently the market is in the sweet spot of the Santa rally. Not only have the markets breached new closing highs. The china $AAPL deal has closed. This should lead to the next leg up in the current trend. The first target is the $575 level followed by the infamous $600.

TheTechnicalRoom

With Facebook, the chart shows us two major plays. One option is that we hammer through resistance around $55. This could lead to quick gains into Fridays close. The second option is that we form a typical cup-and-handle, pull back to the $52 range and then power though to the $60 range. Trade the price!

TheTechnicalRoom

Bank of America is showing a great risk vs. reward for going long. $17 is the first target which is a gain of approximately 13%. The stop loss can be set below the existing trend-line for a potential loss of 3-5%. RSI and MACD are working off overbought conditions.

TheTechnicalRoom

Looking at the technicals, gold is still in a downtrend, but we could get a bounce near the $1200 range, seeing the markets are at all-time highs and there has not been a correction in a while. Technicians always follow price so even though gold may regain its shine, it is better to wait for a bounce and see if the downtrend will break. I don’t know about you, but...

TheTechnicalRoom

Adding to the Bitcoin ($BTCUSD) story from yesterday thetechnicalroom.com it is crazy how momentum has almost carried Bitcoin past the price of Gold.Is Gold acting as a Bitcoin resistance where people are finally wondering how it could possibly be worth more than Gold?

TheTechnicalRoom

Yesterday I shared my experience with Bitcoin $BCOIN as a runaway story or the stock that got away. thetechnicalroom.com It looks like the consolidation scenario is starting to take place. If we can consolidate between approximately $900-1200 for a couple weeks, will look for entry above $1250.

TheTechnicalRoom

Everyone likes to talk about their winning stocks, some people like to forget their loosing stocks, but what about that trading play you thought was right and psychologically could not pull the trigger. Just over a month ago, I attended Stocktoberfest in San Diego, it was a splendid conference and there were so many inspiring presentations. Presenters displayed...

TheTechnicalRoom

We are reaching overbought levels...but with the holiday season approaching and a potential run up into earnings...its hard to see how this gap wont get filled. First target $27 then $31. Strong support $24. Lets see how far the overall markets can run. Quite a few bullish MACD cross-overs. $YHOO $P $PAL.

TheTechnicalRoom

Are the doom and glooms still arguing that the world economy isnt improving. $DAL $LCC Well if the transports are suppose to lead the rally in a bull market. Take a look at all the airlines breaking out to new highs! Support is around $7.76 for JBLU.

TheTechnicalRoom

The false move in $goog is just the start of the upcoming minor correction. I was ready to enter google today if $SPY broke to new highs and google broke this flag patter. Sitting in cash for now. Learning to be patient!!

TheTechnicalRoom

Nice run up in Air Canada. Classic cup and handle pattern. Not sure how to enter this now.

TheTechnicalRoom

Not sure what to make of the dollar strength. The market is at an all time high. This is usually negative for commodities. Could this be an early warning sign for equities or just a strong US economy. Upside target at $22.94 for now.

TheTechnicalRoom

The pattern developing in $YHOO has been typical in the last couple of months. The stock seems to make bullish flag patterns after each run up. The risk vs. reward looks very appealing. Will look to enter on a breakout of the flag with an initial target of $35 then $37.