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    January 2017
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    XBI, Biotech Stocks Approaching Triangle Pattern

    The most significant levels that I've been monitoring in recent months on the biotech sector is this large symmetrical triangle pattern (yellow). Today's rally has taken XBI within 1% of the top of the triangle which is likely to either act as resistance when hit, sending prices lower, or a breakout followed by a rally, [...]

    Jan 31, 2017 3:55pm|Categories: Equity Market Analysis|Tags: |0 Comments

    QQQ Breakdown Triggered, Awaiting SPY Breakdown for Sell Signal Confirmation

    QQQ has clearly broken down below its 60-minute bearish rising wedge pattern today & appears to be waiting for confirmation via a similar breakdown on the other big index, SPY ($SPX) before continuing down towards any of the price targets below. As such, sell signal on the broad markets is still pending at this time [...]

    Jan 31, 2017 12:22pm|Categories: Equity Market Analysis|Tags: , , , |3 Comments

    $TSX Toronto Stock Exchange Poised for a Correction

    It appears likely that the $TSX (S&P/TSX Composite Index) is headed back down to at least the 14962 area following the recent failure at the 2014 all-time highs. Note the large negative divergences that have been building & were recently confirmed with the PPO, MACD & RSI all turning back down following the recent failure [...]

    Jan 31, 2017 12:12pm|Categories: Equity Market Analysis|Tags: , , |0 Comments

    Stock Market Correction Likely to Commence Today

    The likely catalyst for a correction in the SPY will be a break below this trendline along with QQQ breaking below its comparable 60-minute trendline / bearish rising wedge pattern. QQQ is starting to move below its bearish rising wedge pattern following what appears to be a small bear flag continuation pattern. If so, we [...]

    Jan 31, 2017 9:47am|Categories: Equity Market Analysis|Tags: , , , |2 Comments

    Analysis of London & Sydney Markets

    By request of a couple of members on the other side of the pond, here's my take on the London FTSE 100, Sydney All Ordinaries & the S&P ASX 200 Composite Indices. Following the recent breakout above significant resistance to new highs, the $FTSE is now back-testing that level, now key support, from above. While [...]

    Jan 30, 2017 9:41pm|Categories: Equity Market Analysis|Tags: , , , , |3 Comments

    WEAT Trade Update, Pullback To Support

    After hitting T1 & reversing a mere penny shy of T2, WEAT (Wheat ETP) has now pulled back to the former R1 resistance level which is now support. As such, WEAT offers an objective add-on or new long entry with a suggested stop on a daily close below 6.85 (which is 15 cents above the [...]

    AKS Final Official Price Target Hit for a 20% Profit

    The AKS (AK Steel Holding Corp) short trade has hit T2 (the official final target) for a 20.3% profit. Consider booking profits or lowering stops if holding out for the unofficial 3rd target at 6.75. Original & updated 60-minute charts: While T2 was the official final target, my personal plan is to hold [...]

    Jan 30, 2017 11:53am|Categories: Completed Trades - Short|Tags: |2 Comments
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