As the S&P inches to its' upward trednline, and the continued sell off in oil, the risk is extremely high for traders to the upside in the S&P. I'll be waiting for the market to come back down to its trendline before initiating my longs for the new year.
My approach was simple, be patient and do not get greedy. I used nothing more then a candlestick chart, volume, and trend lines to formulate my plan. The weekly chart was my big overall picture, I would then repeat the process on daily and hourly charts. I would wait for the opportunity for when the market would come down to its trendline, and buy when the...
Basically, the last few months NASDAQ 100 never got 3 ticks without a minor DD, followed by the bottom confirmation. (2x) So, everytime it goes against you, close it and wait for the confirmation, once it's up buy back and watch it fly. You'd save some few important percentages doing that, all it takes it's active control of your positions, even in the long run.
Just days before Germany's much anticipated third quarter gross domestic product (GDP) data is released, business leaders and policy makers warn that euro zone's largest economy has lost its competitiveness and is on the brink of recession. German Stock Index DAX is grinding high for the last 3-4 weeks after a sharp down move. It is building nice consolidation...
I'm very bullish on that pair. Why? Bank of Japan decided to add another QE program to fight deflation. They will make extra asset purchases by an additional 10-20 trillion yen. Japan's unemployment rate increased to 3.6 percent from 3.5 in September. The trade gap is increased and Inflation Rate is at 6-Month Low. SL108 T1 120 T2 125
The first bearish setup, the bearish Cypher (Elite Zone only), already reached both of its target levels. Now $PRGO is presenting two possible continuation trade setups. 1. Major structure zone. 2. Possible Harmonic pattern completion *The full explanation is this week's Weekly Markets Analysis This setup is part of the Weekly Markets Analysis newsletter...
Telecoms caught some weakness after earnings release. $51.50 was important resistance above which buyers failed to hold eventhough company released numbers higher than expectations. Now, we have tight consolidation near lows with resistance at $49.15. Break below consolidation support $48.50 will trigger Short entry and will open doors to $46 major support. If...
During this recent move up in S&P (100 handles from the last bottom) Oil&Gas ($XOP) stayed one of the weakest sectors and specifically shares of Slumberger. After exhausted move up on the end of June, it entered into correction and broke down its 50 EMA that was in control since the beginning of 2014. Now, sellers keep preassure and hold resistance at $110...
Bank of America lags behind the market, ant usually that indicates some weakness. Key level in this action is $15.30, the breakdown of which previously led to a drop to $14.85. Now it acts as a resistance and underneath a bear flag has been formed, breakdown of which will attract more sales. Potential entry points are marked on the chart with orange bands.
The enterprise software company's Q2 earnings met analyst estimates, and ServiceNow raised its revenue forecast. But ServiceNow stock was down. Technically we had wide wedge that gave good buying opportunities with reversal candles (check my long ideas in the links below). But fow now, stock resolved its indecision pattern to downside on increasing volume....
Fundamentals: Nvidia Corp posted higher fiscal second-quarter earningsyesterday after market close and gave a forecast for current-quarter revenues that exceeded Wall Street's estimates, sending shares of the graphics chipmaker higher in after-hours trade. The outlook in the PC industry has brightened following news that PC shipments were flat in the June quarter,...
NetApp holds well above broken resistance level at $38. This is very important level as it is in play since March. We had some clues before break up as buyers managed to build series of higher lows with recent bottom at $36. Below this, idea will loose its luster. As broad market entered into corrective phase, i like how this specifique stock showing us relative...
TeraData has been hot stock during 2010-2012, then it lost its luster after soften in margins. But in terms of net profit and total revenues it is showing us solid numbers. Stock found strong support at $39-$40. Looks like funds accumulate this stock during last three quarters. Yesterday, it gave us Day #1 (broke of flag and trend line). If the next days it will...
Ferro Corp is sitting on its major support showing us relative strength, while SPY broke down its intermidiate trend with big, ignited candle. I will be watching for stocks that show us resilience during this corrective phase, as we remain in macro trend. If indexes will find its footing, then we can see an upward move in this stock with resonable risk/reward and...
Sprint is expected to report a smaller loss than in the first quarter as a massive network overhaul comes close to an end. Investors will look for any update on the company's planned $32 billion bid for T-Mobile, expected to be announced in the next few months. The bid has met with skepticism from regulators, who worry it could reduce competition in the...
AOL is curling down below all key moving averages, after it failed to hold above $40. Stock was hardly beaten on its previous earnings report and since then covered part of those losses on this strong market. Anyway, still under preassure consolidating in tight pattern. I will initiate small position here and will add on break of $38 with tight stop above $39.50....
Kors is high-growing company with EPS for the past 5 years 130%. So, if it misses or meets with expactations on its report that will be soon on August 5th, it may frustrate investors and trigger further selling. Technically, it pierced psychological mark $100, but failed to close above, from hwere it sold off. It found support at $86 that was recently broken with...
After V-shape move off the bottom on February, stock formed double top at $91.62 and sold off from there with two gap downs (means strength of sellers). I will us gap pivot point as stop/ Until it stays below $87, I am bearish. Price is below key moving averages. You can manage this trade in different ways I use active trade management. Enter with tier1 in this...