July 2016
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Gold, S&P 500 & VIX updates – Market Wrap

Today was a mixed bag in the markets with the $SPX (S&P 500 Index) closing down slightly on the day with the Nasdaq 100 ($NDX) as the standout performer, largely due to the top-heavy component AAPL (Apple Inc), which closed up 6.5%. The fact that the $NDX-E (equal weighted Nasdaq 100 Index) closed down -0.17% [...]

Biotech Sector Outlook (video)

As this video ran longer than I had anticipated, I'll sum up my thoughts for those that don't have the time or inclination to watch the entire video. Despite the fact that the biotech sector has been drifting higher in a choppy but overall bullish trading range since the February lows, there is very little, [...]

Jul 26, 2016 3:36pm|Categories: Equity Market Analysis|Tags: , , , , , , , , , , , , |5 Comments

Famous Dave’s (DAVE) Breakout

DAVE (Famous Dave's of America) has broken out above this downtrend line & looks poised for a move to the 6.75 area although with the stock reporting earnings within the next few weeks, this is only an unofficial trade idea. Volume confirming the breakout so far which helps to reel in the spreads on this [...]

Jul 26, 2016 3:16pm|Categories: Unofficial Long Ideas|Tags: |0 Comments

Tuesday Morning Pre-Market Commentary

Best to keep things light throughout this week as we have a slew of potentially market moving economic releases culminating with Q2 GDP (at a pretty lofty consensus of +2.6%) on Friday before the market opens. We also have the 2-day FOMC meeting kicking off and at least 7 of the 30 blue-chip Dow components [...]

USO Stop Hit, Divergences Still Intact

USO exceeded the suggested stop with a 60-minute candle close of 10.13 for a loss of 1.8% today. With bullish divergences still in place and the 10.15 support holding for most of today, USO might be added back as a new trade idea soon. The USO long/UWTI short trade will now be moved to the [...]

Jul 25, 2016 4:37pm|Categories: Completed Trades - Long, Gold & Commodities|Tags: , |1 Comment

Zillow Bearish Rising Wedge Breakdown

Z (Zillow Group Inc) has broken down below below a bearish rising wedge pattern today. Z was posted as an unofficial short trade setup (first chart below) in the trading room last week:   As Zillow is scheduled to report earnings after the markets closes next Thursday, August 4th, it will remain [...]

Jul 25, 2016 12:45pm|Categories: Unofficial Short Ideas|Tags: |0 Comments

QQQ & SPY Sell Signals Pending

On watch for (60-minute time frames): 1) a break below QQQ 112.69/SPY 215.30 2) MACD 9-ema cross below zero line 3) 13 ema cross below 34 ema Should all three sell signals trigger in both the QQQ & SPY, my expectation would be for a minimum drop to SPY 212.70 & QQQ 110.70.

Jul 25, 2016 10:24am|Categories: Equity Market Analysis|Tags: , , , |0 Comments
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