May 2016
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NUGT GDX Trade Idea

While NUGT has been an unofficial trade idea since just off the recent highs (posted in the trading room), I know believe that the R/R to short NUGT (preferred) or GDX here at NUGT 99.50 or GDX 24.75 is favorable. While I often highlight how the initial reaction to FOMC meeting announcement or the release [...]

Crude Oil & Energy Sector Outlook (video)

This video begins with the outlook for crude oil followed by analysis of XLE (energy sector ETF) and XOP (Oil & Gas Exploration & Production ETF) along with the top components of each sector.

May 18, 2016 1:14pm|Categories: Equity Market Analysis, Gold & Commodities|Tags: , , , , , , , , , , |4 Comments

CL (Crude Futures) Bearish Rising Wedge Pattern

$CL (crude futures) look poised for a pullback to at least the 46.75 level (first target) & quite likely the 45.90 level (second target) or beyond if/when prices break below this 60-minute bearish rising wedge pattern. Comparable price targets on USO would be 11.50ish & 11.25ish with a continued move down to the 10.70 area [...]

GLD & GDX Outlook with Price Targets

GDX (Gold Miners ETF) has been riding along the bottom of its wedge, refusing to break down until GLD breaks below its comparable rising wedge pattern. Note, the price targets on these charts are the actual support levels, unadjusted for an optimal fill. Best to set your BTC or buy limit orders slightly above your [...]

May 17, 2016 9:23am|Categories: Gold & Commodities, Unofficial Short Ideas|Tags: , , |1 Comment

Crude Oil & Natural Gas Forecast

$WTIC (Light Crude Oil spot price) is back-testing the apex of the recently broken bearish rising wedge pattern while the negative divergences on the RSI & MACD continue to build, warning of a likely correction that would bring WTI back to the 42.30-43.00 area. $WTIC daily May 16th   $NATGAS (Natural Gas spot [...]

May 16, 2016 9:49pm|Categories: Gold & Commodities|Tags: , , , |6 Comments

Market Recap for 5-16-16

The big news in the market today was Warren Buffett's disclosure of a recent $1.069 billion stake in AAPL (Apple Inc.), which provided an impressive 3.71% gain in that market leading stock. However, despite the Buffett/AAPL rally, SPY closed below both the downtrend line as well as the 207.00 resistance level while QQQ failed to [...]

May 16, 2016 5:53pm|Categories: Equity Market Analysis|Tags: , , , , , |5 Comments

Nasdaq 100 Overview via QQQ (video)

There haven't been any significant changes to the outlook for the US equity markets since the most recent updates but with US equity posting gains across the board today, I figured that I'd cover some of the key technical levels to watch along with a overview of the top components of QQQ.

May 16, 2016 1:25pm|Categories: Equity Market Analysis|Tags: , , , , , , , , |0 Comments
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