This video provides an update & the outlook for all active trade ideas on Right Side Of The Chart at this time as well as a couple of potential trade setups. Also discussed are some general trading strategies & considerations on aligning one's swing trading with the near-term outlook & trend of the broad market. The video duration can be reduced by increasing the playback speed in the video setting as well as skipping ahead to any particular trades which are covered in the following order: AOBC, OMI*, OREX*, CORN, ENDP, GE, IEF, JJG, SOXX, SPY, UGAZ**, XLE & XOP*** followed [...]
Here are a few of my top picks for sector ETFs right now that appear to offer some of the best risk-to-reward profiles at this time. Holding exchange traded products (ETFs & ETNs) vs. individual stocks during earnings season helps to mitigate the risk of being caught on the wrong side of a large earnings-induced gap against your position (e.g.- INTC has traded up over 10% today following their earnings report last night while SOXX has only traded up less than 2½% so far today). SOXX - semiconductors ETF short (or SOXS long). This backtest of the recent broken 60-min uptrend [...]
Technical evidence for a major trend reversal and correction in crude oil continues to build. The first chart below is the same chart (many annotations & technical developments later) that was posted here back on January 19, 2016, making the case that "a significant rally or trend reversal was close at hand" just 3 weeks before crude bottomed & embarked on the bull market that has so far seen $WTI rise by approximately 150%. Positive & negative divergences, rising & falling wedges, trendlines, breaks above/below resistance/support levels, overbought & oversold readings, etc.. all help to determine where prices might [...]
Technical analysis providing the near-term outlook for the US stock market, gold, silver & the mining stocks, natural gas and crude oil. I've also included a static 60-minute chart of /PL (platinum futures) below the video as platinum is starting to break down below this very extended price channel with negative divergences in place. Potential price targets are shown below. PL 60-min Jan 22nd
Crude futures have broken down & backtested the secondary uptrend line, currently making the second test of the 63.15 support level. A solid break and/or 60-min close below will likely bring /CL down to the 62.20 level. Should my call for a correction in crude continue to play out, that should translate into more downside in the oil & gas stocks & related ETFs such as XLE, XOP & XES. 60-minute chart of /CL (crude futures) below. CL 60-min Jan 19th
Two of the three (XES & XOP) of the major oil & gas ETFs that I closely monitor have triggered sell signals on the 60-minute time frame with XLE poised to follow suit. My expectation for a pullback in the energy stocks meshes with my expectation for a correction in crude oil prices & the EIA Petroleum Status Report, scheduled to be released at 11:00am ET, could be the catalyst for a move down to the price targets that I've recently highlighted on the 60-minute chart of /CL (crude futures) below. The other three charts are the 60-minute charts of XLE [...]
Technical analysis on the US stock market providing the near-term outlook & price targets followed by the outlook for crude oil & the energy sector as well as various swing trading ideas. An update to the recent XLU swing trade is also provided towards the end of the video.