WEAT (Wheat ETN) is approaching support on both this 60-minute time frame as well as the longer-term time frames with bullish divergences in place all the way out to the weekly charts. Watching to see if we get a reversal soon, even if prices briefly undercut this 60-minute support level. WEAT 60-min Aug 15th [...]
The following notes & chart outline the entry criterion, price targets, suggested stop & beta-adjusted position size for both a swing trade as well as a potential trend trade in NIB, Cocoa ETN.
A quick update on SPY & QQQ. After one of the largest 3-day declines so far this year, on both Thursday & Friday SPY found support on the minor uptrend line that was most recently highlighted in Thursday's video while QQQ fell to right where the previous 60-min chart scenario had projected from the last [...]
This video provides analysis of the semiconductor sector via $SOXX (PHLX Semiconductor Index) & the 3 major semiconductor ETFs: SOXX, SMH & XSD. Also discussed are the pros & cons of trading the 3x leveraged ETFs, including SOXL & SOXS. The factors affecting the performance of leveraged ETFs when held for extended periods of time, [...]
An overview of some of the recent significant technical developments in the major stock indices as well as a few sectors & individual stocks that stand out as attractive trading opportunities at this time. Also discussed are the pitfalls of becoming complacent after a period of unusually low volatility & benefits of being prepared at [...]
XSD (SPDR S&P Semiconductor ETF) has made an impulsive breakdown below the primary uptrend line off the early 2016 lows. Comparable trendline breaks are pending on SOXX (iShares PHLX SOX Semiconductor Sector ETF) & SMH (VanEck Vectors Semiconductor ETF) as they are currently testing TL support. A break & close below the trendlines on both [...]
Both the small caps (IWM) have already broken below their primary uptrend lines off the early 2016 lows along with the mid caps (MDY). While both closed at support yesterday, IWM appears to be headed down to at least the 133.50 area with MDY poised to fall to at least the 305.35 area once the [...]