It is difficult to buy here after $40 move from earning's gap but on intraday basis there we can still trade tactically keeping long in our mind. Actually, it is one of the best stocks in this choppy, range-bound market because after earnings was released it had nice, powerfull 2 days continuation move then some rest, inside days which is healthy after such a big...
This is a 4 hour chart of the QQQ and it shows both the bullish and bearish side of the argument. I have a bias to the bear side due to bearish divergence on the weekly chart and also the head and shoulder pattern. However, the bullish argument is that we have an inverse head and shoulder pattern ( green) opposing the Bears, and also the fact that we are still in...
A SHS formation in the Nasdaq Composite with a well defined neckline. Measured target 3600 where structural support is found in the middle of 2 gaps.... (One being closed - the other to hold as gap support)? Daily RSI at 48,.53 Neckline has to break first!!! Safe trading ladies and gents! BM Music at work: open.spotify.com www.youtube.com
SPY has formed a shooting star Doji near a all time high, which is likely to form tomorrow. A red candle tomorrow would confirm an evening star reversal pattern. Also notice the mini Head and shoulder within the larger Head and shoulder pattern. The major resistance and support levels are labelled @ 184.62. 181.31 and 174.03, would be places to take profits at...
Applied 2007 chart pattern to today's market, and it fits pretty well. Of course the market does whatever it likes and does not necessarily follow any pattern. That being said, major support and resistance lines for 2002-2007 and 2009-2014 are similar. Maybe people behave the same psychologically, maybe people and machines have studied past patterns and have been...
It' hard to narrow down exactly where the QQQ's could hit resistance, since the SPY/DIA are still above their pivots. But I have two tentative points. Either we test the 50 ema and sell or form a H&S pattern. Both scenarios will favour my bullish gold thesis. Although i prefer the former. (as GDX is at it last level of retracement before turning bearish.) The...
As many of you know United States and Japan's diplomats have been working on the Trans-Pacific Trade Agreement TPP. Trans-Pacific Partnership (TPP) is an ambitious plan for a free trade agreement among 12 countries which, if realized, could cover 40 percent of global GDP. It is a key plank in President Obama's foreign policy, and an effort to anchor the US firmly...
Reached first support/demand zone, after kissed good buy the lower boundary of the wedge. Q's also at support/demand zone