The WEAT (Wheat ETN) swing trade has hit the final target, T3 at 7.70, for a 9.5% gain or 11.44% beta-adjusted gain. WEAT was added as a Long Swing Trade at 7.03 on June 9th with a suggested beta-adjustment of 1.2 (20% above a typical position size) due to the relative low volatility in wheat [...]
The following notes & charts highlight my outlook, including price targets for SPY (S&P 500 tracking ETF) along with the tracking ETFs of the four largest sectors with the S&P 500.
We have an impulsive breakdown below the 120-minute H&S pattern as well as the key 136.40 support level so far today. Right behind the June 9th bearish engulfing candle in QQQ & other technical breakdowns in QQQ & the FAAMG stocks, this is one of the highest probability sell signals on the Q's in many [...]
The potential Head & Shoulders pattern highlighted on June 20th now appears to be fully formed with today's impulsive move down to the neckline. As discussed in that previous post a week ago, I was waiting to see not only if the second right shoulder would form but ideally to see that drop back down [...]
FCEL (FuelCell Energy Inc) has hit T2, the second & final price target a 1.32, for a 37.5% gain. Consider booking partial or full profits and/or raising stops if holding out for additional gains as the charts on still appear constructive at this time. As this was the final target, FCEL will be reassigned from [...]
We had a brief & shallow stop run on the SGG (sugar ETN) Active Long Swing Trade last week with the ETN printing a weekly close back above the stop level & sugar still looking ripe for a reversal soon. That resulted in a relatively minor loss of 3.6% as I was keeping stops tight [...]
TEVA (Teva Pharmaceuticals) was added as an Active Long Swing Trade on a breakout above the bullish falling wedge pattern back on May 12th. That breakout proved to be a false breakout /whipsaw signal before one last thrust down with the bullish divergences still very much intact. From there, TEVA went on to make a [...]