An overview of the US stock market via technical analysis of QQQ, SPY & IWM along with SMH (semiconductor ETF) and XLF (financial sector ETF).
The vertical lines on this 2-year chart of the SPY (S&P 500 tracking ETF) show all instances in recent years where volumes have plunged, as measured by the SPY's volume 10-day EMA , to the red 'correction' line. Corrections followed either a touch of that line or the cross back above it following any extended [...]
Sorry for the late start. I had planned on getting this update out earlier but apparently NVIDIA must have found out I was short their company stock (NVDA) as woke up to only a single monitor working today (which is essentially flying blind when I don't have the use of multiple monitors). ;-) Took a [...]
This video is provides a brief (under 12 minutes) overview of the key technical levels, developments & prices targets for the stock market via SPY, QQQ & IWM as well as some of the sectors that stand out as attractive trading opportunities at this time.
As a follow-up to last week's post OpEx Ramp In Effect, Fade Likely To Begin Next Week, it appears to me that the correction that I was expecting to happen this week will most likely begin today with the markets closing significantly lower, quite likely printing a bearish engulfing candlestick. If that does occur, it [...]
A break & 60-minute close below this trendline/price channel on SPY in conjunction with a break below the comparable uptrend line on the 15-minute QQQ chart will likely be the catalyst for a move down to the 232 support level & ultimately beyond while a break & 60-minute close below this trendline also in conjunction [...]
This video makes the case for an impenitent correction in the US stock market most likely starting next week or possibly sooner. I also share a few trading strategies on how to capitalize on a potential swift pullback in the market while minimizing & quantifying downside risk (loss potential).