The outlook for the US stock market via SPY, QQQ, & IWM followed by analysis on GLD, GDX, SMH, WEAT, JJG & DBA.
The following short trades have either exceeded their suggested stop(s) or no longer look compelling from an risk-reward perspective and will be moved to the Completed Trades category: ADBE: Has traded slightly above the suggested stop of 77.09 over the last several trading sessions, resulting in a relatively small loss of 2.8%. As the R/R [...]
ADBE (Adobe Systems Inc) will be added as an Active Short Trade here following the recent breakdown & backtest of the bearish rising wedge pattern shown on this daily chart. Being that that primary trend remains bullish at this time, my preferred price target is T1 (69.85) although T3 is the current final target and [...]