Will be watching CHKP closely for a pullback, from March to July a Head and Shoulders pattern was formed. I will be watching to see if CHKP is in the process of forming another Head and Shoulder pattern. What are the odds it does it again?? Any way I will be watching it for a possible bearish trade.
In my opinion we are forming a double top on the SPY, I am looking for a pull back to around the 220 area before moving higher. I could be totally wrong (wouldn't be the first time!), I just have the feeling the market has moved too far too fast and has gotten ahead of it self and needs a pull back.
LVS faded on Thursday, Gapped up on Friday above resistance but also faded (possible dead cat bounce).
Will watch this week to see if LVS retests resistance and pushes through or rolls over and heads lower.
Looking to initiate a bullish swing trade, my trigger is at $6.23, my stop at $5.62 and my target is $7.45 (2R).
Whether it works or not I have to thank Real Life Trading (Jerremy) for this trade idea.
What can I say, normally I am a market bull but over the next few years I see the markets moving lower.
Short term I could see a relief rally after the elections lasting a few weeks but then lower into 2017.
A combination of global macro events (black swans) and central bank policies around the world causing ...