Member @lee1 requested an update on the $TSX within the trading room. In reviewing the charts, I figured that the recent technical developments in Canada's largest index warrants a front page post at this time. $TSX weekly April 7th In the previous update, I had pointed out the recent 'double-tap' overbought cluster as [...]
XLE (Energy Sector ETF) is currently trading just below a confluence of resistance levels (horizontal, uptrend line & downtrend line) while the intermediate-term trend remains bearish. Obviously, a break above all three resistance levels, particular the 71.65ish level, would be bullish, especially if confirmed with a bullish cross above the zero line with the PPO [...]
The following notes & chart outline the entry criterion, price targets, suggested stop & beta-adjusted position size for a swing trade in DPZ, Dominos Pizza Inc.
Following Wednesday's early session pop impulsive late day sell-off, QQQ consolidated in a tight sideways range to close the basically flat on the day. Also note how QQQ failed on numerous attempts throughout yesterday's session at the 132.40ish resistance level, which defined the key level of the recent failed breakout to new highs. Also worth [...]