- NASDAQ, QQQ & S&P100 Charts Are Bearing Down Heavily on the S&P500 Recent BreakoutFollowing up from my last post where I focused on how the S&P head and shoulders neckline was going to hold, we have seen a blistering short squeeze since then that took all the major indices up to their upper channel line of their slowly descend...
- S&P Holds the NecklineWe may have just seen a successful test of the S&P head and shoulders neckline. Last Thursday the S&P slipped through the neckline but closed back slightly above it for a bullish hammer then on Friday the market squeezed with 500k SPY b...
- Nasdaq at Most Overbought Level in Two YearsIn my April 6th article I wrote how the S&P 500 was grossly overextended and basically pressed against the ceiling on the Percent of S&P stocks above their 50 day moving average. Tonight we are taking a look at the Nasdaq to see if it i...
- AAPL's Situation WorsensWell, we learned Friday that AAPL is cutting back production of its iphone due to slowing demand. I guess AAPL forgot to tell us that when investors were buying the channel breakout a couple of days ago. Looking back, it almost appears th...
- Focusing on the SPY TopThe trading world is watching the SPY this morning as it is the last barrier of reason on the stock market. Trade well my friendsAlan...
- A couple of good reads
on Apr 15, 2016
http://www.zerohedge.com/news/2016-04-15/saudi-prince-drops-friday-night-bomb-no-deal-without-iranwe-are-selling-every-opport See my Tuesday 4/12 blog posthttp://www.zerohedge.com/news/2016-04-15/fed-sends-frightening-letter-jpmorgan-corporate-... - Pro SPY Traders Agree with VXX TradersWhile the iron grip tractor program has forced all the retail stock market indices (S&P, Nasdaq, Dow) out of their multiyear declining channels the past 3 days, pro traders are largely ignoring this as they go by their own chart, the SPY ETF.Toda...
- VXX Believes 3 Day Iron Grip Tractor Program to Force Channel Breakouts is About To EndWhile the tractor program that has been locked on the market for 3 days has been hugely successful in forcing the stock indices to break out of their restraining channels, the breakouts haven't gone very far and it begs the question of what happens n...
- XLF Up Against Double ResistanceThe XLF financial ETF had a big day yesterday but finds itself up against the upper line of its six-month declining channel this morning. At this juncture you can expect them to put lipstick on some really foul bank earnings.Trade well my frien...
- Midterm Channels Projecting Market PullbackThe S&P 500, Nasdaq, and USO have maxed out in their midterm channels as the VIX is basing at the 13.75 level which has projected stock market tops for the past four weeks. The USO was stopped dead in its tracks after the Saudi Arabia oil m...
- USO December Support Level Becomes ResistanceThe USO continues yesterday's late afternoon reversal downward while this morning Saudi Arabia's oil minister Ali al-Naimi threw water on the hopes of oil producers taking action in regards to crude output at the Sunday meeting in Doha. He was asked...
- Is Russian / Saudi Arabia Deal a Game Changer for Stocks or a Ruse?The stock market ripped higher Tuesday as oil took off on a monster squeeze from the moment a Russian news agency reported that a Russian diplomat said that Russia and Saudi Arabia had reached a deal ahead of this week's OPEC meeting. This news...
- S&P Establishing a Steep Declining ChannelThe S&P 500 continues its topping process even though oil has been squeezed relentlessly the past few days. Monday we had a two point confirmation of the S&P market top that is textbook. First, the third lower high was printed in...
- AAPL Rejected by 200 Day Moving Average & 1 Year Declining TrendlineAAPL's bearish situation has worsened considerably recently as it tested its 200 day moving average and the upper line of its one year declining channel a week ago and was rejected by both simultaneously. Since then AAPL has traded lower for fi...
- An Interesting Article on Oil
on Apr 10, 2016
http://www.zerohedge.com/news/2016-04-10/iraq-latest-announce-record-oil-production-why-just-beginning-supply-glut... - Stocks & Oil Indices At Major ResistanceAs the stock market closed another week of trading, we found the S&P 500, Nasdaq, QQQ, XLF, XLE, and the USO still stalled at major trend lines. The exceptions are the VIX and VXX which are sitting on major support. Expect sudden move...
- Another Float Up Friday?A lot of rising channels failed this week. The charts below are 195 minute bar charts showing two months of trading.The first two rows are the key stock indices where we see that all but the QQQ have lost their rising channels. The bottom...
- Float Up Friday Hits A SnagThe S&P 500 is experiencing another float up Friday where they went ahead and gapped it up at the open to make sure they get a green day using a oil squeeze early on as I mentioned was likely last night. One hour into trading the rally appe...
- S&P Percent Above 50 Day MA Still at the CeilingThere was a big squeeze in stocks Wednesday that was triggered by an even bigger squeeze in oil as the prop the market coalition seems to have abandoned their effort to decouple stocks from oil after some days without success and instead built a fire...
- S&P Hanging On By A ThreadThe S&P 500 finds itself in a precarious position this morning.It has now failed twice at its upper horizontal channel line (shown in black). Trade well my friendsAlan...
Alan
Join Date:
2012-09-22
