Technical analysis on the US stock market as well as several key sectors & stocks that stand out at this time. Covered in the following order are: QQQ, SOXX, XLK, IYT, FDX, UPS, XLP, XLU & IYR. playback speed can be increased in the settings to reduce video duration
This video provides the near-term & longer-term outlook for the transportation sector including shipping & trucking as well as the outlook for FDX & UPS, both of which are components of IYT (transportation sector ETF). The video starts with an overview IYT, UPS, FDX, the railroad sector & concludes with an overview of the trucking sector & the some of the individual trucking stocks that stand out a compelling swing & trend trading opportunities. Not only do the transportation sector & many of the individual stocks within trade very well to the technicals (charts) but they also have a history of [...]
This video highlights some significant developments & divergence between the US stock market & the transportation sector. Both the near-term & intermediate-term outlook for the stock market & the transportation sector are covered in this video. The total run time for the video is 22 minutes however, you have the option to increase the playback speed up to 2x in order to decrease the duration of the video. For those wishing to skip ahead to a analysis of a particular index, sector or time frame, the following are covered in this order: Dow Jones Industrial Average (Dow 30) Dow Jones Transportation [...]
FDX (Fedex Corp) hit the first & sole official price target for a quick 9% gain. FDX was added as an Active Short Trade on Nov 30th following the breakdown below dual uptrend lines. The immediately fell sharply, hitting the T1 level (145.27) on Friday and has now clearly taken out that level with the stock trading down over 12% from entry. Previous & updated daily charts below: As T1 was the sole official price target for this trade, FDX will be moved to the Completed Trades category. However, as per the original post, especially considering the impulsive nature [...]
With FDX (Fedex Corp) trading down nearly 3% today, I'm guessing the initial results from Cyber Monday are less than expected. FDX will be added as an Active Short Trade here with the first & final target of T1 at 145.27. Additional targets (T2 & T3) may be extended to this trade should the broad market confirm. The break below both of these uptrend lines (wedges) on the daily chart, along with the bearish technical outlook on the weekly chart, is the primary reasoning for establishing a short position in FDX at this time. Suggested stop over 167.50. [...]
FDX has moved below the previously highlighted support level which has drawn prices on IYT below the symmetrical triangle/horizontal wedge-type pattern. as today is OpEx, i'm not reading too much into these breakdowns yet although i do believe that they warrant monitoring next week. keep in mind that although i do expect both FDX & IYT to continue to move lower, they are not official trade ideas. i am merely following FDX right now because it is widely considered a key economic indicator. for those interested in shorting either, feel free to contact me & i will be glad to email [...]
this looks like an important level for an important stock to hold. i'm not adding this as a trade idea at this time but something to keep an eye on as a solid breakdown below this support level would most likely continue to drag the transportation sector lower, reaffirming the current dow theory non-confirmation mentioned in the previous post. if FDX bounces, keep an eye on that downtrend line above. that resistance line along with the support line that FDX sits on appears to be a bearish descending triangle pattern.