A quick look at some of the key technical levels & developments that I'm monitoring on within the U.S. equity markets. Starting with the 60-minute charts of the broad index tracking ETFs: The momentum in SPY is rapidly diminishing on this most recent thrust to a divergent high. A break below the 253.85ish support will [...]
Technical analysis of the stock market, crude oil as well as several swing trading opportunities that stand out at this time. The following securities are covered in this order: /CL (crude futures), XOP, XLE, NVDA, SOXX, SMH, XSD, CRUS, QCOM, XLP, XBI, SPY, QQQ, & IWM. Playback speed can be increased in the video settings [...]
This video highlights some of the potential swing trading opportunities that stand out at this time. Covered in the following order are: Crude oil & the energy sector via /CL (crude futures), XLE & XOP gold & the US dollar via /GC (gold futures) & the EUR/USD forex pair various agricultural commodities via /ZW (wheat [...]
As a follow-up to my analysis on the biotech sector in the recently posted video, XBI is wedging higher on the 60-minute time frame with negative divergences in place. My expectation is for a reversal & drop down to the 85.50ish support and/or uptrend line followed by a bounce & then another leg down to the [...]
Technical analysis on QQQ as well as the market leading FAAMG stocks followed by the outlook for the biotech sector via XBI and a few of the largest biotech stocks (most of which are components of QQQ). The following ETFs & stocks are covered in this order: QQQ, AAPL, GOOGL, MSFT, FB, AMZN, XBI, ABBV, [...]
Analysis of XBI (Biotech Sector ETF) and several of the largest biotech stocks including AMGN, ABBV, CELG & GILD.
I haven't posted much analysis on the biotech sector lately as my opinion wasn't very strong. However, this bearish candle is XBI today is both a breakdown below the bearish rising wedge pattern (white lines) as well as a failure from the recent bullish pennant (blue lines) breakout. My expectation is for a continued move [...]