TICKER: $SPY With the phase 1 trade deal between USA and China, the market continue to climb to all time highs. Volatility was not impressive but it is what I expected as the market have already priced the deal in. DONT FORGET THAT THE MARKET IS VERY SMART. SPY bulls continues to run the show with confirming the daily cup and handle pattern. Weekly RSI hit 70...
Ticker: $CGC Daily inside bar with very low trading volume on Friday 12/7/2019. This is because CGC is announcing a new CEO on Wednesday 12/11/2019 and both bulls and bears are uncertain about who it's going to be. None the less, I expect a volume spike tomorrow as the range is so tight. The break is inevitable and potential leaks or inside information could be...
Ticker: $XBI XBI needs to break 94.95 to break out hard. If we reject and form a 4 hour lower high compared to 94.95, WATCH OUT FOR THE 4H INVERSE HEAD AND SHOULDERS with support for 92.97 and 91.68!!! Also watch for market correlation. If market is strong and hits ALL TIME HIGH, XBI could be in a great position to go long.
Ticker: $XLF Huge gap up open and bulls ran with it. The only reason why SPY was so strong is because of the financial sector. XLF closed above the All time high (30.33)! We need more bull volume to confirm it is a clear break or else I would still consider it a double top with 30.33 if we reject. If we consolidate pre market and bulls open with fire, that...
Ticker: IWM IWM broke daily resistance of 161.93 during the trading day of Friday, 12/6/2019. However, it did not close above it which. Clearly bears are trying to push the price down and we will see this Monday 12/9/2019 to see if we can break and close about 161.93. If bulls do, expect bulls to keep going. If we reject, it would be a double top and expect...
Ticker: $QQQ QQQ is clearly weekly than SPY, IWM, XLF, and XLV. QQQ is not close to ATH resistance of 206.05 whereas the other sectors are near ATH or broke daily resistance. If the market pulls back, QQQ will set a daily lower high compared to 206.06 and I expect an equilibrium. If markets are strong, I will watch to see if QQQ could break 266.05 to add fuel...
Ticker: $SPY Next week will be very interesting as SPY is near all time high and about to test it. We had a gap up open on Friday and bulls continue to punch the bears in the face. Monday 12/9/2019 will be very telling. Bulls need to break all time high of 315.48 and close above it to show that they're not done with their massive move. If that's the case,...
SWKS forming a weekly bull flag. Bulls must break 102.87 with increasing bull volume this coming week to give confidence that we are going up. Daily time frame is a clear equilibrium pattern. I expect low trading volume until a break. If we do not break bullish, expect daily consolidation and a weekly higher low to form. I would also watch for correlation with...
CURLF Daily HL has been set but the bounce from it consist of low volume. I would need a bull volume spike on 12/2 to be more confident in seeing continuation. However, we need to be caution because a head and shoulder pattern could form if we set a lower high and drop to a lower low.
Weekly EQ on watch. 12/12/2019 is earnings and that could fuel the bulls or the bears to break this pattern.
TICKER: UBER Looking like a daily bull flag incoming this week of 12/2. Bulls need to prove it by breaking 30.13. Hourly trend has changed to the bulls, but we're still in a weekly downtrend. Has the bottom been found for the year? Confirm this bull flag and I will be confident in saying YES. I plan on making a quick flip on the break of resistance. As far as...