dogchasingcogChasingCars

dogchasingcogChasingCars

The area between 3820 and 3900 in the Eurostoxx 50 has been tough resistance MANY times in the last 20 years... sure the prize for breaking through it could be a fantastic rally for the bulls, but failure to do so could result in another historic drop... Do you know FOR SURE how this one will resolve? If so, please let me in on that, 'cause i don't have a clue....

dogchasingcogChasingCars

LQD is a $45 billion ETF holding bonds of over 2300 among the biggest and most prominent US corporate borrowers. It peaked last August, and the five month consolidation broke to the downside last week. Now it's clinging by the fingernails to the highs of last April, which are offering some semblance of support. If that gives way, a couple more supports can be...

dogchasingcogChasingCars

Over the last 13 years, some of the most spectacular crashes in high-yielding bonds have begun with a monthly rejection at falling channel resistance. Equally spectacular rallies have followed, yet the bear trend remains stubbornly in place. I can't help but notice that the candle formation over the last two months looks eerly similar to the one of last year, at...

dogchasingcogChasingCars

Junk bonds are very important among risk assets, and they often send signals that anticipate what will happen to stocks. Seing the rejection at the all-important falling resistence, and the break of the rising trendline from last spring, one can't help but feel uneasy about the markets in the near to mid term... especially after a rally that's sucked EVERYBODY in,...

dogchasingcogChasingCars

On a break of critical support at 3625, SX5E will at least fill the gap in the 3535 area. It's also the target of the ominous H&S that's been formed. A negative open tomorrow will increase the odds of this break significantly. Be ready to pull the trigger on this one.

dogchasingcogChasingCars

EDIT has formed a short-term, very steep rising channel, within a bigger, much more sustainable, multi-year rising channel. Call me crazy, but I think this one is going to do well... Right now, price is acting well at triple support: not just the aforementioned short-term rising channel, but also a former falling resistance, and the all-important 50 day MA (both...

dogchasingcogChasingCars

For now at least; everything can change in the blink of an eye, and with earnings looming, it's anybody's guess in which direction the next 300+ bucks move will be in AMZN. I can only point out how this bounce off channel support is about to collide with falling resistance, and if that gives way, price will accelerate to the upside. If you switch the chart to the...

dogchasingcogChasingCars

Stillwater Mining has moved sideways for the last 7 and half years. A return to all-time highs would mean almost 70% gains from here, but what could happen should it FINALLY start trending UP? It fell out of BLACK rising channel back in March, but it flew right back inside of this steep rising channel, and as long as it stays inside, it can rise substantially. You...

dogchasingcogChasingCars

The horizontal support\resistance around 22.50 seems to have great significance to Barrick Gold. Last time it consolidated below it for roughly 8 years was between 1997 and 2005, then it broke out, backtested 22.50 twice (black arrow marker), and went on to more than double in less tha 3 years (May '05 to March' 08). Not a bad trade for someone who doesn't want to...

dogchasingcogChasingCars

AEM on monday broke above highs at 68.93, which were seen for the last time almost NINE years ago (Sept 2011). Yesterday came the backtest of that resistance, today we have more positive followthrough. If you like bullish breakouts inside rising channels buy this one. If you like gold\gold miners buy this one. ATH come into play at around 87 bucks... Full...

dogchasingcogChasingCars

Big dump at the open to strike fear in the heart of nervous longs, and to trap late short sellers who don't know better... Is this the correct read? Is the correction already over for AMZN? TOO EARLY TO TELL, but I cannot help but notice that the rebound has started from the 200 hourly sma, and we're already back above the horizontal support\resistance at 2930...

dogchasingcogChasingCars

Just a hasty update; please refer to my previous analisys for price targets and all other details. You can see from the last ten days' action how market makers can manipulate price however they want to pick your pockets and make you abandon winning stocks. I sticked with QRVO even if the main thesis was trading water (due to the breakdown from short-term rising...

dogchasingcogChasingCars

Doubling down on PRVL at long last; technical picture is great as you can see from the upper daily chart: since shortly after the IPO, stock has been inside a nice 45° rising channel (had to use some intraday high\low along with some closes to draw this channel but this is absolutely fine in my book). In the lower chart you can better appreciate the recent price...

dogchasingcogChasingCars

AMD weekly in the top chart finds itself inside of several rising channels; the most recent of them is four and half years old with a very nice 45° angle. Consolidation within this uptrend has now come to an end, as you can see from the lower, daily chart; breakout and immediate backtest is exactly what we want to see to go long; buy immediately or risk being left...

dogchasingcogChasingCars

I've already outlied in detail the short-term bullish thesis with target 440, as well as the longer term one with target 655; see my previous posts, they are still 100% valid. Yesterday's decisive breakout of the almost 2 year consolidation is just the last piece of solid evidence for the bullish case, and, in my opinion, the nail in the coffin for ILMN bears. You...

dogchasingcogChasingCars

Platinum relative to gold is now exactly FIVE TIMES CHEAPER than it was at the peak of the commodities bubble back in May - June 2008. It is still in a downtrend, and this study has ZERO validity for short-term trading: extremes can ALWAYS get more extreme, OR they can get stuck at the same "insane" level for an unpredictable long time, so I would advice to pick...

dogchasingcogChasingCars

If you believe in correlation among markets\risk assets, then you definitively want to keep an eye on the Euro Stoxx 50, Europe's most important stock market (along with the DAX 30). The pan-European index finds itself against 20 year falling channel resistance (RED), from which some catastrophic crashes have taken place in the past: 2000, 2007, 2015, and no less...

dogchasingcogChasingCars

Quality breakout after a long consolidation, within a longer term uptrend. I need nothing else to double down on this one. Full disclosure: with today's buy at the open, I'm now long QTRX at 0.9% of total assets.