I mean you keep seeing this chart pattern over and over again. I'm just going through different stocks and this has been the pattern that keeps coming up. And shoutout to JC AND ALL-STAR CHARTS, I learned this pattern from him and his crew. These big bases for the most part have all been residing to the upside.
United Health Care makes up 8.52% of XLV the health care ETF. If you go look at the ETF it's making new highs, while its second largest weighting is still trading in range. My question is how long does UNH continue trading in this sideways range its been in?
Here's a chart of salesforce on a weekly. As you can see we failed to stay above the 2021 highs here recently. To me the level is 310 that we need to get above, then the next level for me is 424.
Am I the only one who has noticed this channel META has been trading in? I mean technically this is an uptrend, and asset prices do trend. I will say it's struggling to stay above the 500 plus range. It got above it a few times, but not for long. So what happens here? Do we continue to trend up and eventually breakout, or do you see Meta give back these gains from...
It's crazy how this sector hasn't fully recovered from its fall in 2021. Some of the laggards in the top 10 are TSLA, NKE, SBUX. The other 6 companies have have recovered pretty well from their 2021 drops in price, and some have gone past to make new all times highs. I'm bias about this sector simply because it makes a large percentage of my personal portfolio....
Consumer staples sector, or in other words the companies we shop from on a daily. EX: COSTCO, WALMART, TARGET. This chart is prefect, this level is just so clear to see. We have multiple touches of this resistance/supply level, and we had one false breakout back in April 2022. How many times can a level be tested before it decides to breakout? We are back at this...
I know this monthly candle stick isn't finished, so this will be an important week for the energy sector. This is crazy, so back in 2008 we made a high at 91.36 right. Then we had a false breakout in 2014. It failed to breakout in 2022, 2023, so is this the year for XLE to finally breakout from this level? We have an ascending triangle forming as well. What's...
Okay so real estate broke out of its down trend November of last year, and its been pretty much trading sideways ever since. Call me crazy but this level seems real important to me. In MY OPINION, not a fact, XLRE needs a strong push and close above this level to even touch this sector. Do I really even need to say what happens to XLRE if it's below this level.
The healthcare sector seems really indecisive if you ask me. Look at all those doji candlesticks. I see why you're not supposed to make moves on these type of candle prints. Especially for someone like me who is a trend trader by nature. We have no choice but to wait and see which way the market wants to move. Up, down, or continue this slight sideways movement....
Fun Fact in 2018 tech became to large of a percentage of the S&P500 and the committee decide to change the Telecomm sector name to communication services. Alphabet and Facebook now Meta moved from technology along with some key names from the consumer discretionary sector like Disney, Comcast, and Netflix. Fast forward to today we are slowly approaching all time...
Well we've been here before with financials. Are we ready to go ahead and move along from this level? I'LL be completely honest I don't like that wick on last weeks candle, but we still closed green making it the 10th positive week. Regardless of what I believe the chart is the chart.
Here's the industrial sector being strong then ever, 11th straight green weekly candle. Last week's candle made a strong push and close above the 1.618 Fibonacci level. This is some market we've been having. What do you guys think here? Think this market can take us to the next Fib level? IDK but we shall see.
The materials sector has actually performed extremely well. 9 straight green weekly candles and the highest weekly close in the history of the ETF. I really like this sector and some of the stocks in the top ten haven't even broke out yet. I guess my question is, was last week a strong enough breakout to take this sector higher and to the next Fibonacci level? I...
Fun fact about me, Forex was my first introduction into the market back in 2020. Now a lot has changed for me in the past 4yrs. I have learned so much about trading and investing, it's truly been a journey. Now I no longer trade FX but I do still look at the FX market for information. Is it just me, or does this pattern look really familiar? IDK
Ethereum really seems to respect this 4000 level a lot. I believe there is some level of support at the 2500 level if ETH goes lower. But if you are bullish on Ethereum you need to see it get above 4000 and hold above it. As always though IDK
I know everybody was saying if AAPL is below 180 it's not good. I don't necessarily disagree, but what if 180 wasn't the real level to get too too bearish on AAPL. The way I see it 168 might be the level we should be worried about, but even then if y'all remember in 2023 157 was the level to get above. I always like to say IDK when I post a chart because I really...
Question what happens here? Do we breakout this week or do we continue to just trade in this range for another week or two? IDK but I like being able to see these trends. Only if I had unlimited money to take these trades, but one day I will be a great investor/trader also a better technician!!!!
