USO (Crude Oil ETP) is piercing through the bottom of this 60-minute bullish falling wedge pattern on what is likely to prove to be an over-throw of the wedge followed by a reversal & upside breakout. While I'm on watch for signs of a bullish reversal or possible near-term selling climax for a buy signal [...]
I had a request from member @vim2 for an update on copper. Here's my 10 year weekly chart of $COPPER (spot copper prices). Copper has been gradually moving higher since putting in a divergent low around the beginning of the year & breaking out above this bullish falling wedge pattern shortly afterwards. Prices are currently [...]
This video ties in some of the recent charts & analysis that I've recently covered on the US equity markets on various time frames as well as the $VIX volatility index. It appears that should the US stock market move even just a percent or so below where it closed today, that would likely trigger [...]
FB (Facebook Inc) exceeded the suggested stop over 121.25 yesterday for a 6.1% loss but will likely be added back as a new short trade soon. In fact, the stock even offers an objective short entry or add-on here on this rejection following yesterday's backtest of the large rising wedge pattern. As with AMZN, which [...]
The recent AMZN short trade exceeded maximum suggested stop of a 60-minute candlestick close above 730.40 for a modest loss of 3.5% on July 6th & as such, will be moved to the Completed Trades category. I also wanted to highlight the fact that AMZN may very likely be added back soon as a new [...]
An recap of the US equity markets, gold & the precious metal mining sector.
A look at the steel sector including the charts of many individual steel stocks with support, resistance & price target levels.