Sep 242013
 

BAC will trigger a short entry for aggressive traders on a break below the S1 support zone shown here on the daily chart.  Price may find some support on the yellow (lower) uptrend line.  However, a end of week close below the uptrend line on the weekly chart will trigger a swing short entry for more conventional traders and/or an add-on position for aggressive traders.  Daily & weekly charts below:

 September 24, 2013 10:26 am  Uncategorized Tagged with:
May 092013
 

The BAC short trade currently has only one price target at this time, T1 at 10.05, although additional target(s) may be added if this trade begins to pan out.  Suggested stop over 13.70.

 May 9, 2013 2:37 pm  Completed Trades - Short Tagged with:
May 092013
 

Regardless of the relentless bid under the market lately, the Too Big To Fail banks still look bearish from a technical perspective at this point.  Although the current divergences and bearish price patterns can & will be negated should prices go much higher, at this [continue reading…]

 May 9, 2013 1:22 pm  Equity Market Analysis Tagged with: , , ,
Apr 252013
 

Although there are many key stocks and indices that I’m following which are in the process of backtesting a recently broken key uptrend line or bearish pattern, I’ll just share a few here below.  The first is a weekly chart of XOM, the world’s largest [continue reading…]

 April 25, 2013 6:07 pm  Equity Market Analysis Tagged with: , ,
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