June 2016
« May    

SPY & QQQ Key Support Levels & Targets

The markets gapped down to some pretty significant support levels today (and/or hit those levels in pre-market trading before reversing): the 203ish area on SPY & the 104.50ish level on QQQ. While this first tags of those key levels in a while is likely to produce a reaction, which so far it has, with the [...]

GBP Near-term Scenario

It's getting late here in the east coast of the US so I'm going to share one last chart on the GBP/USD with what I believe will be the two most likely scenarios, both of which bring the pair back up to the 1.40ish level in the coming days. I rarely ever trade currencies & [...]

Pound Sterling at Support, Bounce Likely

As the Brexit vote polls are still open & push to about 50/50, the GBP/USD has fallen to long-term support with bullish divergence in place. Currency traders that don't mind stepping in when there is blood in streets might consider a long position around the 1.36 level with the appropriate stops using a 3:1 or [...]

GLD Testing Support + GDX Update

Not only are these two levels (120.28 & 119.16) decent price support, they are also the 50 &61.8% Fibonacci retracements of the most recent rally in GLD. Should 120.25 go, GLD will likely continue down to at least the 119.15 area/61.8% Fib (60-minute chart): GLD 60-minute June 23rd The bigger picture for gold [...]

Jun 23, 2016 2:01pm|Categories: Gold & Commodities|Tags: , , |4 Comments

Brexit: The Great Diversion

The last time I recall so much incessant chatter & focus on a potential market moving event would have to be the Grexit fears a few years back with the big difference being that those worries (of potential fallout from a Greek exit of the Eurozone) was that the markets had priced in a good [...]

Jun 22, 2016 12:33pm|Categories: Equity Market Analysis|Tags: , , , , , |21 Comments

Swing Trading A Sideways Market: Patience Pays

In response to the erratic, back & forth price action in the markets & most sectors over the last two months, I posted the following reply to a comment on how difficult it has been to make money lately with so many nice chart patterns that just don't seem to be playing out, including the [...]

Jun 21, 2016 3:22pm|Categories: Equity Market Analysis|Tags: , |11 Comments

AKS Unofficial Short Trade Idea

AKS looks to once again offer an objective short entry following the break of this most recent uptrend line. Unofficial trade idea for now although it might be added as an official short trade with targets & suggested stops next week after the Brexit distraction has passed. Props to member @freezer for highlighting AKS in [...]

Jun 21, 2016 8:54am|Categories: Unofficial Short Ideas|Tags: |1 Comment
Load More Posts