Technical analysis & swing trade ideas on the major stock indices, gold, crude oil, natural gas, Bitcoin, Ethereum, RIOT, and US Treasury Bonds. Silver or Gold level access initially required.
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Swing Trade Ideas 2-22-21
2021-02-22T11:35:15-05:00Feb 22, 2021 11:35am|Categories: All Trade Setups, Equity Market Analysis, Fixed Income (Bonds), Forex (Currencies), Gold & Commodities, Subscriber-only Content, Unofficial Trade Ideas|Tags: $ Treasury Bonds, $Bitcoin, $ETHEREUM, $GOLD, $NATGAS, $NDX, $SPX, $WTIC, /BRR, /CL, /ES, /GC, /NG, /NQ, /ZB, /ZN, ETCG, GBTC, GDX, GLD, IEF, QQQ, RIOT, SPY, TLT, UNG, USO|11 Comments
@rsotc thank u. watchin those bonds like a hawk..
The sell signals/breakdowns on AAPL & now TSLA are 100% confirmed with the recent weakness in those two big (former) market leaders now spilling over to the rest of the FAAMGs. That, coupled with today’s breakdown below the primary uptrend line on the QQQ daily chart helps to confirm a sell signal on the stock market. Should that play out as I would expect, it will likely cause a flight-to-safety bid on T-bonds in the coming days to weeks.
i have concerns about shorting oil…….1) inflation 2) middle east rumblings…..I have been long coal stocks since you highlighted earlier this year and uranium……. would rather go long these breakouts than short oil…….
I completely understand. Pass on trades that don’t mesh with your outlook for the security and/or comfort level. Just sharing my thoughts as I suspect oil, which has been bullet-proof lately & up big while trading at a 10+ month high today, will likely outperform the major stock indices to the downside if/when the recent sell signals on SPY, QQQ, AAPL, & TSLA play out for a decent (10%+) correction. We have some additional checkmarks for the correction case today although still a little more work to be done to firm up the case for a 10%+ drop in the… Read more »
Randy Where would you put a stop on Drip if you were taking a position today at the $12.30 level? Your charts do not have downside listed as it is at its low.
i see 8 possible if 12 level breaks.
I think a fairly tight stop on DRIP makes sense based on the additional sell signals in QQQ & TSLA today coupled with the fact that the energy sector ETFs are at resistance. Of course, you have to account for the 2x leverage on DRIP so the stop would be double what it would be (in percentage terms) if shorting XOP. If targeting that 23.69ish resistance on DRIP, which is about 120% above current levels, a stop of 20% would provide an excellent R/R of 6:1. If looking for a more modest correction in the energy stocks, my min. target… Read more »
Hi Randy, IWM is holding and VIX isn’t going up very much. Would you need both of these to confirm breakdown? Considering doing DRIP trade but the market does not seem to be going down impulsively.
/RTY at resistance. About to confirm the bearish divergence on hourly (if that happens).
The $VIX often starts rallying before a correction starts but not always. Regarding both the VIX as well as the small caps (IWM) and some of the S&P 500 sectors such as financials & industrials (which are at/near ATHs & rallying today), either they (VIX, IWM, XLF, XLI traders, etc..) are right & I am wrong or the other way around. What I mean is that tech as a whole is mostly weak as are the former market-leading FAAMGs + TSLA. So either this is just healthy sector rotation with big-tech taking a breather while other sectors take the baton,… Read more »
Very nice entry on $XOP. Opened position around $81.44.