Solar sector strong as a whole, showing relative strength. Leaders are $FSLR (actually trying to break out today) and $ENPH.
$EXTR - showing relative strength today, breaks out from consolidative flat pattern. Small long with stop just below today's low. Market opened weak, so starter position to test waters.
Focus stock for today: $RELL. Strong group (industrials), price tightening up after recent ascend. 10 and 20 day moving averages have converged, and we now have an inside-day bar on Tuesday to trade on.
$BTU - The Russia-Poland saga got coal sector moving. BTU has been carving out big multi month base, and had been surfing the 10 day moving average higher in past few days. Formed inside day bar on Tuesday. Fellow coal sector peers $AMR and $HNRG also look strong.
$ULTA daily chart - breaking out from tight flag pattern. Inside-day bar on Friday, allowing for tight stop to be placed.
$ULTA monthly chart - almost at new all time highs. Tightening up considerably despite bear market. Daily chart (in thread) looking actionable.
$CAR - broke out from multi month base in October, and beat earnings expectations in November. Now tightening up in a flag pattern. Watching for breakout.
$PSTG tightening up just below neckline of multi month base. Two tight bars in a row, and inside-day bar on Friday.
$SMCI tightening up after post-earnings gap up on high volume. Good risk-reward for entry, as inside-day candle yesterday allows for tight stop loss to be placed.
$LMT setting up as well. Very similar picture as $GD. Out from big multi month base, and price is now tightening up above the 10 day moving average.
Confluence seen in defense sector stocks, quite a number breaking out / setting up at the same time. One of them is $GD. Trading near all time highs after breaking out from big multi month base. Price now tightening up above the 10 day moving average.
Palladium approaching neckline of 3 year head and shoulders pattern. Not a good sign for precious metals if this level breaks.
Hawkish tone at FOMC on Wednesday will likely be kryptonite to precious metals. Gold is testing lower bound support of flag pattern on daily chart. Am expecting a breakdown and next leg lower. On longer term weekly chart, gold is trading below neckline of multi-month distribution pattern.
CHZ looking to breakout from base on 60mins chart. Potential intraday play, stop may be placed at candle lows.
Potential busting of head and shoulders bearish pattern. Price broke down via head and shoulders pattern in Sep, and now shot back up above the neckline. A busted pattern tends to have the opposite effect, with price having the potential to much higher from here
USDJPY dropping like a rock. False breakout in Dollar Index today. USDJPY has potential to fall really big here.
USDCAD breaking out of a flag pattern. Price has been making higher lows, and finding support at rising 10 and 20 day moving averages, both which are starting to converge
XAUUSD slicing through neckline of double top pattern and 50 month moving average