Right Side of the Chart

...because anything to the left is history
  • ACN - Aug 27 201520150827
  • AMGN - Sep 28 201520150928
  • AVGO - Aug 25 201520150825
  • BLK - Oct 19 201520151019
  • BRKB - Aug 25 201520150825
  • COLM - Sep 28 201520150928
  • CVS - Nov 12 201520151112
  • DUST - Oct 23 201520151023
  • FAS - Sep 10 201520150910
  • FL - Nov 13 201520151113
  • FNHC - Jul 28 201520150728
  • GDX - Oct 23 201520151023
  • HSY - Jul 21 201420140721
  • $HUI - Oct 19 201520151019
  • IBB - Nov 10 201520151110
  • INTC - Aug 25 201520150825
  • IPXL - Aug 11 201520150811
  • JBLU - Sep 02 201520150902
  • LABU - Nov 10 201520151110
  • NBIX - Sep 02 201520150902
  • $NDX - Nov 24 201520151124
  • NUGT - Oct 21 201520151021
  • PBE - Oct 02 201520151002
  • QQQ - Nov 24 201520151124
  • ROST - May 26 201520150526
  • SMH - Nov 12 201520151112
  • SOXL - Nov 12 201520151112
  • TQQQ - Nov 24 201520151124
  • TSM - Nov 12 201520151112
  • USCR - Nov 18 201520151118
  • XBI - Nov 10 201520151110
  • XLF - Sep 10 201520150910

Active Trades – Short

Active Trades are trade ideas that were previously posted as Trade Setups and have since triggered an entry or occasionally, a trade idea that was first posted directly to the active trades category as offering an objective entry at the time of the initial post. Active Trades might also be listed in one or more of the other trade categories as these categories are not necessarily mutually exclusive. E.g.- An Active Trade that still offers an objective entry might also be categorized under the Trade Setups category. Likewise, an Active Trade with multiple prices targets may have already hit one or more of those initial targets with additional target(s) remaining, thereby falling under both the Active Trades and Completed Categories. Traders should look to make any new entries or add to existing Active Trades objectively, such as a on pullback to a support level during an uptrend or a re-test of a broken trend-line, wedge, or channel pattern.

Nov 242015

I'll be leaving town for the remainder of the week & don't plan to post any market or trade updates until I return. Even if I wasn't leaving town, as I've stated several times in the Trading Room recently, that the abbreviated Thanksgiving holiday trading week (US equity markets closed Thursday & close early on Friday) are notoriously plagued with erratic price swings that tend to trigger false whipsaw buy & sell signals as well as run any nearby stop-loss orders on your positions, or at least that has been my experience in the past. As such, I tend to be very selective on entering any new positions & will often widen my stops during the Thanksgiving trading week. This 2-minute chart showing the price action in QQQ so far this week helps to illustrate that point.

A member in the Trading Room asked the following question as I was drafting this final market update for the week so I figured that I'd just copy & paste his question & my reply which summarizes some of the recent market developments & includes my thoughts as to where the market is likely headed in the near-term.

Q: Randy, earlier today you said “but it appears to me that the charts also confirm that a reversal in US equities is most likely in the early stages”. Is this a topic that you could expand on a little further? I’ve heard others in the industry say the same thing but there are no charts to explain why.

A: I was just about to post one last update on the markets for the week before I leave town in a few hours. On the 15-minute QQQ chart that I’m posting, there are a few things that indicate that the bounce off the Nov 16th lows has run its course with a new (short-term) downtrend likely now underway:

1) Prices broke below the ascending price channel late Friday, briefly ripping higher only to fail at the R2 level.

2) That breakdown of the ascending price channel was likely a near-term top as it was confirmed via a divergent high (i.e.- negative divergences on most price & momentum indicators & oscillators, again, on the 15-minute time frame).

3) The 28/68 ema trend indicator (shown as a histogram on that 15-minute chart) signaled a bearish cross (sell signal) today, following an extended bullish period that confirmed the prior uptrend. -END REPLY- (additional note: The 28/68 ema histogram made a marginal cross back into positive territory right before the close, printing a negligible positive value of 0.01, which is likely to prove to be a whipsaw signal unless the QQQ can move considerably higher tomorrow.)

TO ALL: Happy Thanksgiving to those who celebrate it & to all others, enjoy the rest of your week & best of luck on your trades!




 November 24, 2015 4:48 pm  Active Trades - Short, Equity Market Analysis, Short Setups Tagged with: , ,  No Responses »
Nov 232015

Despite the low-volume pre-holiday trading session, the Q’s couldn’t have traded off the technicals any better so far today. The first chart below is the 15-minute chart of QQQ posted on late Friday morning along with today’s updated chart. Since Friday’s chart was posted, the [continue reading…]

Nov 192015

QQQ has hit my upper-most bounce target first posted here on Monday morning & if my analysis is correct, this morning’s pre-market session highs in QQQ (TQQQ, NQ, etc..) should mark the end of the bounce that I was expecting after my initial downside targets [continue reading…]

 November 19, 2015 9:10 am  Active Trades - Short, Equity Market Analysis, Short Setups Tagged with: ,  2 Responses »