In my earlier post this week on SQQQ, I recommended accumulating the 3 X Short Nasdaq 100 between 9.50 and 9.75 ,on any counter trend rally this week in NDX This morning SQQQ is trading at 10.22, riding the break of Nasdaq 100 Futures Triangle to the downside overnight. Pattern Support on SQQQ is at 10.00, so watch that level for your stop, Simply put. Risk...
June S+P 500 Futures have broken a continuation triangle to the downside,thus accounting for the sharp downside move overnight Shown here on the 60 minute chart, S+P Futures are quickly on their way back down the chart. Crucial Neckline Support below the market is at 2800 should futures decide to put the maximum pressure, on the bulls,..prior to the long...
Dow Transportation stocks are down sharply today, signaling potential renewed weakness ahead for the US economy with one of the leading stocks in the group Federal Express (FDX) busting it's chart wide open to the downside. ( Shown Here) Weakness in the trucking and airline stocks can be seen across the board today, with the Dow Transportation Average breaking...
Kohl's, a brick's and mortar shopping favorite for women, with television commercials shown around each holiday season, offering give away in- store Kohl's Cash on purchases just one month ago, broke out to a new high near $76.00. However,the upside breakout proved false on the chart, just a trading few days later. and the stock had recently been pulling back...
Almost like clockwork, the bulls have come rushing back into technology overnight, seeking to immediately buy potentially oversold Fang stocks from yesterday's selloff. My read of the SQQQ Chart,the 3 X short Nasdaq 100 ETF, shows that a decline back towards 9.50 - 9.75 could be setting up the handle, on a very bullish "Cup and Handle" Short Trade on the Nasdaq...
Dow Jones Industrial Average Daily Line Break Chart, which uses closing price bars, appears to be on the verge of entering the proverbial "black hole " on the chart. I've drawn an elementary circle around the price area on the Dow chart, where this almost "forbidden" event could occur. It appears that recovery volume is quite lacking at this point, as traders...
The Philadelphia Semiconductor Index (SOX) is down over 3 % today on fears of a new and more powerful retribution backlash from China in the escalating 2019 trade war with the United States. I have been following the stock market for decades now, and if there is one relationship that you can count on, thru thick and thin for trend analysis it's, the ...
S+P 500 Futures Price Rally to start the new week of trading overnight on 5/20 is, to my eyes highly suspect, and offers a patient short seller a major opportunity to position and sell the rally, prior to,a potential major break in the retracement pattern. Rally has the potential to reach 2880 if shorts continue to cover, so being patient is the key here. My...
Every couple decades, an IPO on Wall Street, comes out, that is worth the extraordinary buildup. Beyond Meat (BYND) went public with 9.5 million shares at $25.00 a share on May 2,2019, and in just two weeks of public trading, the stock is up over 300%, last traded at $89.00 a share. Their business model is based on the core principal idea to replace animal fat...
Bargain hunters have continued to purchase technology stocks, sensing opportunity, and the Nasdaq 100 rose to 7600 today, making this weeks retracement rally now over 300 points, and counting. However, with each higher level reached, NDX buyers have ran straight into big money sellers, looking to liquidate positions above, with the 15 Minute "Know Sure Thing ...
Nasdaq 100 has rallied strongly today, as bargain hunters in technology stocks sensing that the envelope had been pushed too far to the sell side, immediately took advantage of yesterday's move down to key 7300 NDX Support, and have bid up technology from the Open this morning. Today's rally has pushed the Nasdaq 100 right back up to resistance at 7450. Its a...
Gold Futures have broken out to the upside short term above 1300, Basis Aug.2019 Gold Futures Contract GCQ at the same time the US stock market has sold off sharply. The pattern in place shows a triangle indecision at play in Gold. One of my favorite indicators for simple trend analysis confirmation, the "Know Sure Thing" Indicator however has not yet crossed to...
The Nasdaq 100 fell substantially today,almost 3.50% as technology stocks,were sold off big time, on the breakdown of the US/China Trade talks. NDX 100 Daily Line/ Break Chart ( shown here) shows that price fell all the way down to just above important 7300 Chart Support. If NDX 7300 level fails to hold this current decline, then expect the real possibility of...
By closing below 25450 on 5/13/19 the Dow Industrial Average has rendered a Closing Price Line/Break Sell Signal, which puts the decline into "thin air" on the close only chart. I use closing price only charts, to gauge the extent, of a potential measured price projection move, in the index, or stock that I am evaluating. Current Dow Jones Industrial Average...
My my. The entire 2019 rally in the S+P 500, it's main premise as it turns out now looking back, was to make a slightly higher all time high, 2954 this year, collecting enough bearish divergences along the way to keep every one in the game and honest. Then in all fall swoop, it all came undone. They even gave you almost the biggest fundamental news item why it...
I have written numerous articles here on treadingview.com about Boeing',since the 2nd 737 Max Crash earlier this year. They are all documented,advising readers to avoid Boeing's stock,at all cost. Today, comes word that China, in response to the new US trade tariffs levied against them, may single out and retaliate against Boeing, according to press reports in...
Overnight trading in stock index futures shows that the market is prepared to open sharply lower immediately reversing Friday's bullish reversal. Stalemate breakdown in US/China trade talks, an unthinkable result just days ago, appears to be the catalyst for the latest selloff. A new market trend is now developing. Market rallies in afternoon trading,ending at...
S+P 500 staged a Bullish "One Day" Reversal on Friday 5/10 trading lower than the previous day, but closing higher than the previous day's high. The Bullish "One Day" Reversal calls for a continuation of the upside price movement, more often than not, in the following day's trading activity, which would be on Monday May 13. Important Closing Level Support for...