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May 2016
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GUSH XOP Price Targets Finalized

The official targets for the GUSH/XOP short trade have been finalized to T1 at 32.30 & T2 at 31.77. My primary scenario (orange) on the daily chart below has XOP falling to the 31.70 area before a meaningful bounce while the alternative scenario (light blue) has XOP backtesting the primary downtrend line before a meaningful bounce. [...]

IWM Downside Targets/Support Levels

I've had several inquires lately about IWM (small cap ETF) as a short candidate to which my reply was; Yes, as a risk-on/risk-off higher-beta index, similar to QQQ, IWM will most likely outperform the large cap index tracking etfs such as SPY & DIA, should the markets move lower in the coming days, weeks or [...]

QQQ Analysis & Outlook (video)

A relatively quick (12 minute) video overview covering the near-term & intermediate-term outlook for QQQ (Nasdaq 100 Tracking ETF) including some key support & resistance levels & other technical developments to watch for.

May 3, 2016 9:27pm|Categories: Equity Market Analysis|Tags: , |4 Comments

GDX NUGT Short Trading Plan (video)

My reply to an inquiry from a member of the site as to my trading plan on the NUGT (3x Bullish Gold Miners ETF) short trade that I posted taking in trading room yesterday. No need to watch this video if you don't have any position or interest the miners today as other than some [...]

REMX Bearish Rising Wedge Pattern

Along with most other industrial metals & the basic materials sector, REMX (Rare Earths ETF) appears headed lower in the coming weeks. Unofficial trade idea at this time as although XLB (Basic Materials ETF) did break down today below the bearish rising wedge pattern that was highlighted in recent videos, it is currently trading just [...]

Transportation Sector, Among Many Others, Breaking Down

Right after I wrapped up yesterday's video making the case for a broad based selloff in US equities, I had realized that I left out one of the sectors that I had intention to highlight as one of the more bearish sectors that was setting up for a very likely trend reversal (correction), the transportation [...]

May 3, 2016 10:05am|Categories: Equity Market Analysis|Tags: |0 Comments

Stocks Bounce Off Support, Close at Resistance

QQQ experienced the typical reaction off the initial tag of the 104.90ish support level to close at the top of this near-term falling price channel while the MACD & 13/33ema pair histogram both remain below zero (confirming the near-term trend is still bearish). QQQ 60-minute May 2nd   Meanwhile the SPY also closed [...]

May 2, 2016 6:20pm|Categories: Equity Market Analysis|Tags: , , , |1 Comment
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