A look at the steel sector including the charts of many individual steel stocks with support, resistance & price target levels.
The following notes & charts outline the entry criteria, price targets & suggest stops for a swing trade in ZEUS, Olympic Steel Inc. Please log in or register for your free 3-week trial to view.
I should have included the bigger picture (daily time frame) along with the previous post highlighting the breakdown on the 60-minute chart of IWM. Should today's downside break of that 60-minute pennant formation spark even just a half-decent sell-off, that would likely have larger implications on the more significant daily time frame; Both a failure [...]
Not many technically significant events to report in the equity markets today although as I've have a few inquires regarding the recently highlighted pennant formation on the IWM (small cap ETF) 60-minute chart, I wanted to highlight the fact that price have started to move below the pennant. A couple of things to watch for [...]
Over 90% of the biggest US companies report will report their quarterly earnings this week in what is expected to be the fourth consecutive quarter of declining profits. While I've spend the better part of the day scanning for new trade setups, it would only be prudent to hold off entering any new positions, especially [...]
As covered in the July 10th market outlook video, the 2015 market top was preceded by a series of 3 consecutive divergent highs, culminating in one large divergent top on May 20th, followed by a 12.% drop into the Aug lows (or actually a 15%+ drop into the Feb '16 lows before that 2015 was [...]
Near-term charts seem to paint a mixed bag of technicals. On one hand, we had the recent breakdowns on the 30-minute rising wedge patterns in QQQ & SPY following a divergent high. However, the trend indicator still remain bullish & with the near-term & intermediate-term trend still clearly bullish, the trend remains bullish until proven [...]