gent-trader

gent-trader

Major failure as pivot and lower trend line broke, very weak breadth indicator, weekly chart also failed breakout as of today, Vix has broken upside weekly trend line, need confirmation at tomorrows close before I short the S&P

gent-trader

IF the pivot line breaks and RSI trend line breaks, down trend and lower prices should continue. I am short AMD, NFLX, MU and a few other tech names

gent-trader

sideways action as markets slowing or consolidating for next move, IMO XLF and XLE are key sectors to watch for the S&P Lots of buying in the DOW may be signs of profit taking and longer term investing in the DOW.

gent-trader

All monthly charts closed on upper trend line in a rising wedge, basic bearish set up may be sideways but a down month or two would be healthy IMO

gent-trader

spinning top, -ve divergence in MACD and RSI, RSI failed at 69.1 although monthly RSI is very bullish, well over 69.1 pull backs should be shallow until monthly RSI heads down and then very bearish if/when under 69.1 monthly chart has pulled back to upper trend line weekly chart set up is a classic sell set up but monthly chart rules perhaps this could bring the...

gent-trader

looking for follow through after warning break in june, daily test of lower trend line today, tweezer top yesterday, rising wedge on the weekly and failing so far, big day tomorrow

gent-trader

weekly charts are more powerful than smaller time frames, daily rising wedge broke to the down side last two days, toady was a large engulfing candle on a decent earnings, markets need to confirm downtrend for a multi month correction

gent-trader

Two days showing selling after attempts to new highs and now back in the rising wedge. RUT big red candle, this week may prove to be the start of a needed pull back. May see a run up in the QQQ's then a pull back by weeks end. VIX is looking to make a move up and the daily top trend line is much lower, as it is on the weekly too.

gent-trader

S&P weekly has two lines showing resistance, more power the daily chart, $RUT daily -ve divergence at all time highs, DOW transports showing resistance, -ve divergence on DOW weekly, NASDAQ weekly could form double top with a small pull back by weeks closing, being weekly charts, more energy to pull back

gent-trader

Possible bear flag on the weekly to watch for, may have more energy to the down side as is a weekly chart if plays out.

gent-trader

Longer trend line holding as resistance, Dow and RUT monthly charts need to break out for other markets to move, IMO heading down but it won't be a smooth ride yet

gent-trader

bigger time frames rule, below major trend line in the weekly, daily trend is down for now