March 1st: An odd title for a stock market update in mid-April but in reviewing the charts to compose an update or weekly outlook for the market, I kept coming back to the same conclusion; Not a thing has changed in the charts or my expectation for where the US stock market is headed since the very day it peaked (March 1st). Although more downside is needed to reach the commonly used definition of "a 10% drop from the highs", by nearly every metric that I monitor, the correction not only appears to be underway since then, with the small caps [...]
The following Long Swing Trade ideas have either hit one or more profit targets and/or hit their suggested stop or final price target & will be reassigned to the Completed Long Swing Trades category, along with all associated posts (charts & notes) to be archived indefinitely for future reference. Due to the large number of trades that need to be moved from the Active to the Completed Trades category at this time, the following trades will be batched out together: BBBY: Posted as a trade setup on Dec 6th, triggering a long entry the next day on an impulsive breakout above [...]
An overview of the US stock market via technical analysis of QQQ, SPY & IWM along with SMH (semiconductor ETF) and XLF (financial sector ETF).
The following notes & charts are related to the FIT swing trade which is available to premium members of Right Side Of The Chart. Please login or sign up for your free 3-week trial to view.
The following notes & charts outline the entry criteria, price targets & suggested stop for a swing trade on FIT (Fitbit Inc.).
FIT (Fitbit Inc) just reported earnings after the bell & is current trading flat to slightly higher (AH trades not reflected in this EOD chart). On watch for a breakout above this bullish falling wedge pattern as a potential bottoming play. Unofficial trade setup at this time as I'd prefer to see how both Fitbit trades tomorrow & possibly over the next several trading sessions. 2-year daily chart: FIT daily Feb 22nd