There potential for a decent bounce if the 2500 level can be reclaimed. If not the next level down would be 2300. Below that a move to 2000 would be possible.
36 has been a key level for the VIX often leading to nice bounces in the broader indexes.
Here is the weekend look at the S&P going into the trading week of April 18th to 22nd. The S&P closed down 2.14% completing the second red week in a row on Thursday. The S&P started the week on Monday down 1.66%, rallied the next two days into the 9/21 emas only to reverse and finish the day on Thursday dropping 1.23% to close at the weekly low. Going into...
Here is the weekend look at the Nasdaq 100 going into the trading week of April 18th – 22nd. The Nasdaq closed down the second week in a row dropping another 3% and is currently 17 % off the ATH. Price opened the week on Monday with a 2.5% drop. Price rallied up into the 9 ema on Tuesday & Wednesday but was rejected twice and finished the shortened trading week...
DE has a beautiful chart. I broke out recently and has re-tested the breakout point already and pushed back up. I like this for a move back to the ATH and potential move to the 1.618 Fib and higher. Do not want to see it move back below the breakout point.
Here is the weekend look going into the trading week of April 11th – 15th. Last week the Nasdaq closed 3.6% lower after rejecting the re-test of the 200 sma and the top of the higher time frame neutral box. The Nasdaq double topped on Monday near the 15268 pivot and dropped for the remainder of the week. Price closed on the Friday back below the 9/21 ema cloud...
WMT coming back into ATH. This is the 4th touch increasing the odds of a break. Targets above would 158 & 162. Watch for failure at the 1.13 fib on any break. Careful with a rejection back into the red box. No longer interested below the red box. If a break above the long term range hold and extended move is possible.
Here is the weekend look at the S&P Futures going into the trading week of April 11th – April 15th. Last week price made a week attempt to re-test the 786 Fib high but rolled over on Tuesday and dropped back into moving average support. The S&P closed out the week back on the 200 sma and just above the 21 ema. Going into this week the S&P is showing...
Here is the weekend look at the S&P futures going into the trading week of April 4th – 8th. The S &P started out the week with a strong move above the neutral box. Price broke through the Feb 2nd (4586) pivot on Tuesday getting as high as 4631. Price met resistance just below the 786-fib retracement and then reversed lower dropping approximately 2% during the...
Here is the weekend look at the Nasdaq 100 going into April 4th -8th. The Nasdaq closed +0.73% after making an initial 3.40% push higher into 15260 pivot resistance. As mentioned last week the 200 sma was indeed a magnet drawing price as high as 15268 before reversing the balance of the week. By dropping 2.5% over Wed, Thurs & Friday back to the 9ema. The Nasdaq...
PD has already had an impressive recovery from the March 15th low. Recently it has been consolidating above the trendline and closed with a nice green candle today. Looking for a push into the red box and potential breakout above 39. Further targets would be the fib levels above. Important that growth names stay strong and we see follow through in the Nasdaq. Not...
JMIA has broken out of a decent base and the downward trendline. Needs to hold above the trendline and green box. Will be waiting for some consolidation or pull back before entry. Good chance this moves higher if the growth names continue to show strength. First target would be the 15.50.
Sent out an earlier post for a 2618 pull back play into 100. Never quite reached my buy zone as it turned at 101ish. If you failed to get in on that play OIL is setting up for a potential break of 115 again. Above there a test of the ATH is possible. Note that any trades held into the weekend would be very risky.
NAS/QQQ WEEKEND Mar 28-Apr1 Here is the weekend look at the NASDAQ 100 for the week of Mar 28th- Apr 1st. Last week the Nas finished up once again closing the week up another 2.3% Bringing the gain from the Mar 15th low to 14%. Price closed above the 21 & 55 emas, but below the 200 sma and currently sits in the upper third of the neutral(tan box). Going into...
ES/SPY WEEKEND Mar 28-Apr1 Here is the weekend look at the S&P going into the week of Mar28th – Apr 1st. Last week the ES closed another 1.86% higher pushing the total gain from the Feb 22nd low to 10.5%. Price closed the week above the 200sma and above the neutral (tan box) and is now less than 6% off the ATH. With the close above the neutral my bias has...
ES/SPY WEEKEND Mar 21-25 Here is the weekend look at the S&P going into the week of Mar 21-25. Last week after briefly trading below the Mar 8th low the S&P rallied for four straight days to close out the week up 6.23%. The rally was one for the history books as it marked 3 days of + 1% gains on Wednesday, Thursday and Friday. The move broke through the...
NAS/QQQ WEEKEND Mar 21-25 Here is the weekend look at the NASDAQ 100 for the week of Mar21-25. Last week after an initial sell off that briefly undercut the Feb 24th low the Nasdaq retraced almost 11%, closing out the week +8.46% and making for one of largest 4 day rallies in history. Price broke through the downward trendline & the 21ema closing inside the...
Looks like pot stocks may be a thing again. Adding this to my watch for tomorrow like everyone else. Massive move today and after hours could have some follow through to 9 or 10.