Member @stock51 requested the weekly charts of SPY & QQQ after I had posted the following charts of IWM in the trading room. The following are the daily (spanning 2-years) and weekly (10-years) charts of all three along with a 21-year chart of the Russell 2000 Small-cap index highlight the most extreme pinch in the [...]
I wanted to post a quick overview of the financial markets with the near to intermediate-term outlook for most of the major asset classes. Charts & detail commentary will follow on any actionable trading opportunities as well as the active trade ideas on the site. Starting with the US equity markets, despite the market's near-term [...]
Analysis of the US stock market via QQQ, SPY, IWM, SMH & the following market leading stocks: AAPL, GOOG, MSFT, AMZN & FB.
Technical analysis of the Russell 2000 Small Cap Index via the tracking ETF, IWM as well as SPY, QQQ, MDY & the Wilshire 5000 Index.
After a sharp drop in the first hour of trading, QQQ & SPY have experienced snap-back rallies into resistance with the MACD signal line recently crossing into bearish territory (short-term trend) for the first time in over a month. Note how well the MACD signal line/9-ema has defined the short-term trend as bullish or bearish [...]
A breakdown of the bearish rising wedge pattern on AAPL (Apple Inc.) will most likely roughly coincide with a breakout above this downtrend line in the Apple Volatility Index ($VXAPL):
SPY (S&P 500 tracking ETF) has broken down below the 30-minute bearish rising wedge. Now awaiting confirmation via a bearish cross below the zero line on the MACD 9-ema as well as a bearish cross of the 26-ema below the 66-ema. Additional confirmation will come on a bearish cross of the 13 & 33-ema pair [...]