We definitely got that "sell the close" institutional selling that I was looking for and then some. This makes 6 out of the last 7 trading sessions that the key index tracking etf's (SPY & QQQ) were met with high volume selling into the close. This is commonly seen during phases of institutional distribution, especially [...]
The SPY turned down right on cue, reversing off it's previously posted resistance level to the cent which brought the QQQ down with it, just shy of it's similar previous reaction high from Monday. The expected negative divergences were also made official as the MACD on both index tracking etf's have now put in lower [...]
Here I am, constantly preaching the virtues of always checking multiple time-frame when formulating your market or individual stock analysis, yet I should have looked at the shorter frames before that last 60 minute scenario update. As these 5 minute charts of the SPY & QQQ show, prices are in a well defined short-term uptrend [...]
As stated in the recent 60 minute scenarios on the QQQ & SPY, I was expecting a bounce from the aforementioned support levels, which has clearly happened. I also stated that I was unsure how far those bounces would go (i.e.- the squiggles were not a forecast of the exact scope or duration of the [...]
The SHW active short trade looks to be offering an objective add-on or new short entry as it re-tests the recently broken bearish rising wedge pattern from below.
The FSLR long bounce trade has hit it's one and only target for a quick 7.9% gain in less than 24 hours. Although this stock could easily continue higher, I'm sticking to my original trading plan of just taking the quick, oversold bounce off support and have booked profits. This trade will now be moved [...]