+-*Following the break below the small bear flag earlier today, QQQ is once again consolidating in what appears to be another continuation pattern, this time a larger, potentially more powerful bearish pennant. The next objective short entry or add-on will come on a break below [continue reading…]
+-*PWE (Penn West Petroleum Ltd) has hit the first price target, T1 at 2.17, for a quick 13% gain in just three trading sessions. Consider booking partial or full profits and/or raising stops, depending on your trading plan. note: The maximum suggested stop level (shown [continue reading…]
+-*Unlike the typical videos that I publish which often focus on a particular sector, trade ideas, or an overview of the US and/or global stock markets, this video covers what I believe to be the some of the most significant developments in the financial markets [continue reading…]
+-*The wedge overthrow scenarios on the 15-minute charts of the SPY & QQQ are playing out so far, with prices back well within the patterns on both. A break below the wedge plus sell signals triggered (still pending as of now) on the short-term trend [continue reading…]
+-*Both the SPY & QQQ have broken above the top of the previously highlighted 15-minute bearish rising wedge patterns with IWM current trading at the top of its 15-minute wedge pattern. All three of these index tracking ETFs remain on short-term buy signals (15-minute MACD [continue reading…]
+-*Notes on these 15 minute charts of QQQ, SPY & IWM. Click first chart to expand, then click anywhere on right-hand side of each chart to advance to the next chart. Expanded charts may be panned & zoomed using a mouse or touch pad.
+-*So far, GDX (Gold Miners etf) found support at the S1 level (18.80) previously highlighted on both the 15 & 60 minute charts and has moved higher since. A slight modification has been made to the lower trendline on the symmetrical triangle pattern on this [continue reading…]