When a market gaps up out of a trading range it confounds many traders. They do not understand how the price can gap up to a whole new trading range, stay there all day, and even go higher through the day. If the gap is out of an oversold level it is actually a […]
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The profitable trading system in the stock market for the past two years has been to but the dip. The question is what level presents the best probabilities for a dip buying bounce? We currently have three key support levels converging: The 50 day moving average at $200.22. The $200 price century mark
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$SPY has been in a $205 support and $208.50 resistance trading range for two weeks. For the past seven out of ten days $SPY has closed lower than it opened. This is a sign of distribution. A bearish MACD crossover is signaling a leveling out in the up trend and a loss of momentum.
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$TSLA closed below the 200 day moving average. This is a key dividing line between an long term up trend ending and a down trend beginning. In the intermediate time frame the 50 day line itself is at a downward curve. The RSI gives $TSLA plenty of room for more downside. Stocks do not
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All time highs are bullish. Everyone that has every bought the S&P 500 index has a profit, or is very close to one. At these levels, almost no stop losses are being hit; only profit taking puts pressure on the market. The long term up trend is in place with years of higher
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The long and short term up trends in the market are both in place. This market has gone parabolic on a break above the 70 RSI. This is a rare outlier event to run so far with no pullback. This is currently a market for trend followers and momentum traders. Short signals have failed
$SPY Chart: 10 Fast Facts 11/23/14 Read More »
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The 5 day ema has provided end of day support for 18 trading days. The 10 day sma has provided support for 19 trading days. 8 days ago $BABA broke out above all time highs and never retraced. For the past 5 trading days $BABA has been in as $119.45 resistance / $106.48 price
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The long term and short term up trends are both currently in place with signs of slowing. $IWM and $QQQ index ETFs both spent last week forming a new high price base range that is bullish. The risk/reward ratio is shifting against the bulls after this fast run so far from the ‘V’
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Chart courtesy of stockcharts.com The 50 day sma was broken and closed above which is a buy signal. The 200 day was broken and closed above today which is a buy signal. The MACD is bullish $IWM has been trading above the 10 day sma for 8 trading days. The momentum has been
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