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 [...]
An overview of some of the recent individual stock & sector trade ideas, both long & short, shared on Right Side Of The Chart. For those wanting to skip ahead to a particular trade idea, the following stocks & ETFs are covered in this order: CARA, TEVA, USRM, CLVS, NVDA, LI.V, LIACF, PBYI, PTLA, TINY, FCEL, HIMX, SMH, XSD, SOXX, XLF, GLD & GDX.
An overview of the US stock market via technical analysis of QQQ, SPY & IWM along with SMH (semiconductor ETF) and XLF (financial sector ETF).