The near-term outlook for the US stock market via SPY, QQQ & IWM followed by analysis on GLD, GDX, UUP & several trade ideas including GILD, CARA & SMH.
Member @hardsix inquired within the trading room as to whether or not PCLN (The Priceline Group Inc) looked like a potential shorting candidate as the stock is very over-extended. On the first chart below (2-year, daily time frame) potential divergences are in place as PCLN makes the most recent & most extreme overbought reading in [...]
On several occasions over the last several years I have published some indicators warning of pullbacks & corrections on both SPY & QQQ. These historically reliable indicators are triggered when trading volumes, using a moving average to filter out any out any potential whipsaw signals & help highlight a trend of falling trading volumes vs. [...]
This video begins with the near-term outlook for the US stock market via SPY, QQQ & IWM followed by coverage of the following stocks, sectors & commodities that stand out as potential trading opportunities at this time: WEAT, JJG, DBA, CHOC, NIB, $COCOA, FCEL, DDS, M, AZPN, NVDA, SMH, IPI, MOS & POT.
FCEL (FuelCell Energy) has moved above this bullish falling wedge pattern following a divergent low. Very aggressive trade but large profit potential as a possible breakout/short-sqeeze candidate. Resistance levels above are potential price targets. FCEL 60-min Feb 10th Props to @drummonddrive who just pointed out in the trading room that PLUG is [...]
The outlook for the US stock market via SPY, QQQ, & IWM followed by analysis on GLD, GDX, SMH, WEAT, JJG & DBA.
Member @teeps01 inquired about AKS (AK Steel) within the trading room. AKS, along with the other steel stocks are bouncing today, largely if not exclusively due to the fact that SLX (Steel ETF) is bouncing after the first tag of the primary uptrend line in months. The first tag of support in while is usually [...]