Analysis of the US stock market, various key sectors including gold & GDX.
As a follow-up to the May 8th post, S&P 500 Sector Analysis, XLE (energy sector ETF) has now come within 60 cents of that 64ish key support level with the bullish divergences still in place & close to being confirmed (via a bullish crossover on the PPO), should XLE build on today's gains. Previous chart [...]
In updating the trade ideas, the following Short Trades have either hit one or more profit targets and/or exceeded their maximum suggested stop with all associated posts to be moved to the Completed Trades category where they will be archived indefinitely for future reference: XOP/GUSH: Hit the first target for a quick 10% gain (on [...]
This video covers the Active Short Trade Ideas on Right Side Of The Chart, along with a brief highlight of today's breakdown of QQQ, including some objective levels for shorting the broad market.
Here are 6 reasons why it appears the energy stocks (via XES in this example) are still headed lower in the coming weeks. I remain longer-term bullish but near & intermediate-term bearish on the energy sector at this time including crude oil, XLE, XOP & XES. XES daily June 13th This chart is also a [...]
Regarding the recent comments on DRIP in the trading room whereby several traders just recently had their stops taken out, it looks quite likely that there might another shot at an XOP/GUSH short or DRIP long on a break below this Ascending Broadening Wedge pattern (purple uptrend line). The negative divergences in place warn of [...]
Despite crude prices rallying over 10% in the same time period, XOP is only up about 3% since the 4/29 short entry. As I had apparently neglected to list a suggested stop earlier, the official stop for the XOP/GUSH trade will now be set to any move above today's high of 38.28. XOP 60-minute [...]