As expected, NIB (Cocoa ETN) continued right on through T1 in the wake of yesterday's impulsive bull flag pattern breakout, with NIB gapping up today to hit T2 for a relatively quick 7% profit. The move following the breakout of a bull flag continuation pattern is often as impulsive as the move leading up to [...]
Members @ww0987 & @Ruben had requested an update on the semiconductor sector. XSD (SPDR S&P Semiconductor ETF) has been clinging to the bottom of this large rising wedge for weeks now & but has yet to confirm a sell signal with an impulsive breakdown & solid daily close below the wedge although best to wait to [...]
NIB (Cocoa ETN) has hit the first target for a relatively quick 4.6% gain & appears likely to be headed to T2 very soon. As expected, NIB has taken out the 25.62-25.72 resistance zone with an impulsive move following today's gap & breakout above the 60-minute bull flag continuation pattern. This opens the door for [...]
Consumer spending accounts for more than two-thirds of U.S. economic activity. As this 11-year comparison of XRT (SPDR S&P Retail ETF) vs, the S&P 500 shows, the stock market & the retail sector historically move in near-perfect unison, with any divergence between the two very rare and a potential warning sign as was the sharp [...]
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A quick overview of the US stock market via the 60-minute charts of SPY, QQQ & IWM: SPY resumes the near-term downtrend following the recent breakdown & backtest of the purple minor TL, QQQ seems to be in a state of suspended animation over the last month, going virtually nowhere despite clearly bearish technicals that [...]
Hard to say how far the bounce off the 50ish support level will run, assuming KRE (Regional Banking ETF) is headed there in the coming weeks as I suspect, but I think the most likely scenarios will be something along these lines... KRE daily March 17th