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May 2016
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XOP (GUSH) First Target Hit for 10% (30%) Gain + Trade Update

XOP  (Oil & Gas Exploration & Production ETF) hit the first target (32.20) on Monday followed by the typical reaction that occurs when a price target is hit & now appears poised for another thrust down towards T2. At the first target price, that provided a gain of 10.1% on the XOP short or a [...]

Market Recap for May 12, 2016

QQQ fell & closed back well below both the 106.80 level & the 130-period ema today, keeping the bearish case alive. The 13/33-ema trend indicator also flipped back to bearish after the brief whipsaw signal while SPY was rejected off the downtrend line & closed back below the 207.00 level. 60-minute charts: Zooming [...]

What I’m Seeing So Far Today

As a follow-up to today's previous "What I'm Watching For Today" post: To summarize a few of the key points from yesterday's market wrap-up video, here are a few things that I'll be watching for today in order to either keep my near-term bearish outlook intact or dampen it, should these events fail to occur [...]

What I’m Watching For Today

To summarize a few of the key points from yesterday's market wrap-up video, here are a few things that I'll be watching for today in order to either keep my near-term bearish outlook intact or dampen it, should these events fail to occur with the markets continuing to build on yesterday's gains: QQQ: a move [...]

May 10, 2016 Market Recap (video)

I received some positive feedback regarding the market recap posted yesterday after the close using static charts & plan to do more of those going forward. As there are just too many important technical developments to cover with written commentary & static charts, tonight's recap is a more extensive, discussing some of today's key technical [...]

SPY: Just Filling An Ol’ Gap

Now that the SPY has scratched the itch to back fill the May 2/3 gap, the correction should be able to get back underway. With prices only barely rolling over after the back-fill of that gap, it is still much too early to state with a high degree of confidence that the bounce off the [...]

May 10, 2016 1:37pm|Categories: Equity Market Analysis|Tags: , , , , , |3 Comments

QQQ At Resistance, Reversal Likely

QQQ needs to reverse here soon to keep the bearish case well intact. 106.80 is a solid resistance level which, if taken out by a fair margin, will solidly flip these 60-minute trend indicators from bearish to bullish. My expectation is for an reversal off this level. QQQ 60-minute May 10th

May 10, 2016 10:53am|Categories: Equity Market Analysis|Tags: , |3 Comments
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