Keeping an eye out for RSI divergence intraday or an overbought reading coinciding with gap fill to initiate a short.
Stops keep getting run and RSI hasn't seen the north side of 50 in quite a few bars. Sell.
I'm not sure if we're in Elliot Wave 3 or eWave 5 currently, but this is how I see it...
News broke late this afternoon that JPM could settle its claims for $11 Billion. Catalyst? Check. JPM catapulted off of support aligned with the 200 Day Moving Average in today's trading. I'd like to enter short on a spike around $53 (gap fill) with a stop loss above the 20 MA on a closing basis. Should this trigger below support, it would probably be wise to...
Gastar appears to be breaking out of an inverse Head & Shoulder's formation and has breached an area of thick overhead resistance. As to be expected, some bag-holders stuck in the stock for nearly two years are taking break-even sales or huge profits on the run from the low near .60 in late 2012. Support is drawn with a "crayon" as the actual area of support is...
Looking for the potential of near term weakness in Microsoft via a wonky little Head & Shoulder's Top formation. Probably the bigger idea here is that any sort of major decline in excess of 20% (in the Indices) is probably a bit farther off in the future. A retest of the support trend line indicates to me a decline of up to 20% is possible in the major indices...
Just for fun - history rarely repeats but often rhymes. Good luck!
The bad news? A yield curve inversion appears imminent. RSI for the 30yr Yield shows a divergence meaning it is likely to head lower (sending 30 yr prices higher). Conversely, the 10yr looks expensive and therefore likely to head lower (yields higher). Not good for the equity bulls unless something major changes, soon. The tectonic plates are shifting. Be ready...
Technically, ONVO seems to be setting up well. Not a stock for everyone, but looks like one of those I may like to pick-up a few shares of and forget about... Highly speculative so manage risk accordingly. No position at time of publishing.
A deeper look at some of the reasoning behind this chart from earlier today:
WTI looks set to endure a major, multi-stage breakout. We'll need to hold above each resistance handle and solidify new support before averting our eyes to the next higher price objective. Crude (Brent & WTI) seems to be saying what our politicians are not -- major trouble is going to be served up stateside upon the inevitable escalation of US actions in Syria...
A Head & Shoulder's Top formation in the daily chart of TLT is clearly visible, but is it in fact a bearish pattern? We do not know yet. The declining resistance trend line drawn from the peak to the most recent high combined in reference to the lower support line touched this past week could be hinting to a larger bull flag consolidation. Mixed patterns are...
Keeping an eye here on IWM. Strong open recovery and CH targets gap fill above, but there doesn't appear to be much follow-through so far. Lots of unsure candles at the breakout point. Good luck!