Wow what a push. We completed micro wave 1 of the larger wave 5. We are consolidating in micro wave 2. Not sure where that will stop but it looks like it wants to walk along the top of that blue wedge. Then a real big push up for micro wave 3 should occur next. And by the looks of Wave 1, I would say it should hit the top of that black upper trend line. That...
I don't think that some comment is necessary. Market is very unstable. FOMC was desapoint traders.
In downward descending triangle. Bullish pattern. Breakout 74% of time to upside. $IBB $AMGN $GILD $CELG $BIIB $SPY
Health Care SPDR ETF is looking good on long term basis, testing its 5-year uptrend On long term basis - XLV is trading firmly in 10 year uptrend (above 1st upper standard deviation from 10-year mean), but due to the recent August selloff the price is now testing its 5-year uptrend. If the price holds above the fist upper standard deviation from 5-year mean, the...
Although we are starting back into another earnings season, I'm just not all that fond of earnings plays; I prefer the relative boredom of index ETF trades or things like sector SPDR's for the generation of steady income as opposed to flash-in-the-plan earnings plays which are generally binary in nature. They either work out quickly and dirtily or go horribly...
XLV fell from the 77.40 record high (July 20, 2015) to threaten 7-month rising wedge support and the 50 day moving average currently at 74.26 which is also near the 73.86 range low (July 8, 2015). While the 74.26/73.86 support zone holds the dips, that suggests the uptrend remains, offering scope for returned strength towards 76.05 (July 24, 2015 high-gap low)....
XLV has been grinding higher towards the 75.62 range high (May 29, 2015) which is near the 76.01 record high (March 20, 2015). A decisive break above the latter would confirm a higher base and extend the broad uptrend towards new targets at 76.65 then 79.53 (as shown on the daily chart). The immediate support lies at the 73.66 low (June 9, 2015). A push below...
XLV could move nicely as the healthcare stocks continue to advance, watch for a breakout with volume to take the trade and stop 8% down
This chart shows 8 SPY sectors from the highest to the lowest weight*. You can copy/use this chart by going to the Share icon on the chart (below the like button) and click the Make it mine button on the popup. Enjoy! * Taken from www.sectorspdr.com on May 9th, 2015. It's missing XLU (2.75%), because TV has a limit of 8 charts.
Received email re "long" candidate Cempra $CEMP . Looks like this is getting the ax. Be brave (not a good trader personality trait) to $18 - 17 area. One could cover in stages at $19.80 and $18. Just wanted to bring to your attention if you find this informational. From Barchart to my inbox: Barchart technical indicators: 96% Barchart technical buy...
The charts above show the performance of each sector relative to all nine sectors combined. XLK tech couldn't be included due to having only 8 panes but it was included in determining the sector ratios. Important to keep in mind that these are ratios, all prices could go lower or higher together but what I'm interested in here is purely the relative performance....
$BDX is moving towards a 3rd watch after a double top 50% fib pullback. Positives: riding 20 ma, with 50+200 supporting upward momentum, RSI refusing to break 50 maintaining bullish position, MACD crossover. Negatives: upper BB not supporting upward price action, want to see bullish volume pattern.