aipine

aipine Updated 

Shooting star candle forming on the daily, looking for a pullback before seeing more upside. If 407 doesn't hold expect to see a move to the trending resistance line.

aipine Updated 

It has been an interesting few trading days, SPY seems to want to make a run back above the 400 range, but we are observing some pretty uninspiring volume on our way to getting there. The market is waiting on something. Perhaps GDP and PCE reports will be a catalyst? I personally am not overly optimistic on reaching new highs anytime soon.

aipine

Due to general market choppiness I have been light on trading in recent weeks, so I thought I'd take the opportunity to zoom out for a macro view of things. Two things stick out to me on this monthly chart. 1) The ~410 area has been difficult for SPY to move past for quite some time. 2) The 100 and 200 EMA's on the monthly view are FAR below the current price....

aipine Updated 

SPY NEAR OR AT HISTORICAL RESISTANCE I will be layering in some shorts this week if we find ourselves trading inside the red box, stopping out if we shoot to the 410-411 area (which frankly may be too generous). I am being somewhat respectful of SPY's recent history of demonstrating bullish tendencies, but I will be shocked if we close a daily candle over 403...

aipine

An interesting view of the past, this snapshot from late 2002 is eerily similar to what we are currently observing with SPY. Including a false breakout before a significant drop in value. Will we see a similar pattern play out in the coming weeks? H/T @michaeljburry on Twitter.

aipine Updated 

CRSR appears to be trading within the same ascending triangle that it has been in for the past 60 days. A breakout will be considered when a daily candle closes above the $36 price. Afterwards, the potential exists for quick price movement back to the $45-$50 range. Anticipate positive movement on this stock, especially considering the strong Q1 ER.

aipine

As CRSR continues to leg down, keep an eye on these support levels based on historical trends.

aipine Updated 

Price is once again sitting on the trending support line, this is a great entry point for the next swing to the upper $40 range.

aipine

CRSR looks to be emerging into a channel where it could be for some period of time. Keep an eye out for the run up to earnings.

aipine

We are nearing the end of an accumulation pattern that will result in fireworks. Positive or negative - what is your bet?