Analysis of QQQ & the market leading FAAMG stocks (FB, AMZN, AAPL, MSFT & GOOG) with key support & resistance levels with a relatively quick (~14 minute) video:
The following notes & charts highlight a potential trade setup for SSW, Seaspan Corp.
High-yield, aka 'junk' bonds, which are highly correlated with the stock market & not with other bond classes, have made an impulsive breakdown below this large bearish rising wedge pattern in HYG (High Yield Corporate Bond ETF) which also makes the recent breakout a failed breakout, i.e.- bull trap. As the performance of junk bonds [...]
In the first chart below which was posted on Monday, I highlighted the fact that any new high on IBB (Nasdaq Biotech ETF) soon would be a divergent high & so far, that is the case. Yesterday, IBB attempted to breakout above the 303ish resistance level which has capped all advances going back to the [...]
QQQ is starting to resemble a Head & Shoulders topping pattern on the 120 minute time frame. The symmetry on the shoulders isn't ideal but the up-sloping neckline is perfectly normal as is two shoulders following the head vs. just one. QQQ 120-minute June 20th Volume patterns, something that I believe many traders [...]
Analysis of the US stock market, various key sectors including gold & GDX.
The WEAT (wheat ETN) active long swing trade hit T2, 7.38, yesterday for a 5% gain. T3 remains the final target at this time. Previous & updated daily charts: