An overview of the US stock market from the long, intermediate & short-term charts as well as analysis of the gold, silver & precious metals mining sector. https://youtu.be/hEtWJohSTwU
The following short trade ideas have either hit one or more profit targets and/or exceeded their maximum suggested stop & have been moved from the Active Trades category to the Completed Trades category, where all associated posts will be archived indefinitely for future reference. note: All of these trades were already highlighted in the trading [...]
The ACBFF (Aurora Cannabis Inc) Active Long-term Trade managed to poke its head above the 1.00 level for a couple of days but following the recent monster run & overbought conditions, the stock is experiencing some perfectly healthy profit taking. Next support levels at 0.88 & 0.81, both of which would offer objective add-ons or [...]
SPY stopped cold at the mid-point of the 2 month trading range, a level which has acted as support & resistance throughout the trading range. While a solid break above would likely bring prices back to the top of the range, a rejection off that level today would likely bring prices back down to the [...]
By request, an update on the semiconductor sector including the recent semiconductor related trade ideas, both those still active as well as those that were recently stopped out. Discussed in the following order are: $SOXX (PHLX Semiconductor Sector Index), SMH (semiconductor ETF), AVGO, AMAT, UEIC, CDNS, NANO, NVDA & DLB.
As of the time of posting, this video is still in the uploading & processing stage & should be ready for playback around 9:30am ET.
Remember, the initial knee-jerk reaction following a key FOMC meeting such as today's meeting, is very often faded with a nearly equal reaction in the opposite direction. It also not unusual to see the market's subsequent rip or dip after that faded as well. I like to wait until at least the following day before [...]