Technical analysis on the US stock market as well as a few sectors & trade ideas that stand out at this time. Covered in the following order is the outlook for JCP, SPY, QQQ, IWM, EUR/USD, GLD, /GC (gold futures), /CL (crude futures), USO, XLE, XOP, XES, XBI & IYT. Video playback speed can be [...]
XES (Oil & Gas Equipment & Services ETF) could be in the process of forming an Inverse Head & Shoulders bottoming pattern. A little more downside in XES followed by a resumption on the primary uptrend in energy stocks would be inline with my recent scenario for a correction in the energy sector, which is [...]
This video takes a comprehensive look at the diversified U.S. stock indices as well as many key sectors of the U.S. market. These index & sector ETFs are discussed in the following order: SPY, QQQ, IWM, XLF, USO, XLE, XOP, XES, XLV, XBI, IBB, PBE, XRT, XLP, XLU & GDX.
Here are 6 reasons why it appears the energy stocks (via XES in this example) are still headed lower in the coming weeks. I remain longer-term bullish but near & intermediate-term bearish on the energy sector at this time including crude oil, XLE, XOP & XES. XES daily June 13th This chart is also a [...]
I'm seeing a mixed bag of bullish and bearish charts when viewing the broad markets and key sectors from a longer-term perspective. For now, my longer-term bias remains bearish but I did want to point out some of the recent bullish technical developments as well as some of more bearish charts as well. I put [...]
also another recent stop-out if anyone took the XES breakout. seems to be a common theme lately... all these recent breakout on non-confirming volume that have been failing one after another lately. previous and updated chart below. this trade might still offer a decent short entry here but not as objective at this point as [...]
currently prices are right at the neckline on the possible XES IHS pattern recently posted. however, please read the notes from that original post here before taking the trade. here's the chart from that post as well as today's updated chart.