Get started

Nasdaq Composite Index CFD

Amazon (AMZN), DJI, IXIC, SPX, XAUUSD, USOIL - December 21Hello? Dear traders, nice to meet you. "Like" is a huge force for me. By "following" you can always get new information quickly. Thank you for always supporting me. -------------------------------------------------- ----- It remains to be seen if any attempts to break above the downtrend line (2)-(3) with support at around 3176.40 around December 24 can continue. If you get support above the 3294.62 point, you'll have to see if there's a move to update the New High. If you fall below the downtrend line (4), you can touch the 3008.91 point, so you need to trade carefully. ------------------------------ (DJI 1D chart) It started with the gap (30303.4-30314.3) rising and closed at -0.41%. It remains to be seen if the index can be maintained above the 29933.8 point. ------------------------------- (IXIC 1D chart) It started with the gap (12764.7-12804.9) rising and closed at -0.07%. We need to see if it can rise along the uptrend line (2). ---------------------------------- (SPX 1D chart) It started with a drop in the gap (3722.5-3722.4) and closed at -0.35%. ---------------------------------- (XAUUSD 1D chart) We have to see if we can ascend above 1899.330. You should watch as you can break above the downtrend line (5)-(6). If you can't break the downtrend line, you can touch the uptrend line (4), so you need to trade carefully. -------------------------------------- (USOIL 1D chart) We have to see if we can ascend above 49.17. You also need to see if you can move up along the uptrend line (3). -------------------------------------------------- ------------------------------------------- ** All indicators are lagging indicators. So, it's important to know that the indicator moves accordingly with the movement of price and volume. Just for convenience, we are talking upside down for interpretation of the indicators. ** Check support, resistance, and abbreviation points. ** Support or resistance is based on the closing price of the 1D chart. ** All explanations are for reference only and do not guarantee profit or loss on investment. Explanation of abbreviations displayed on the chart R: A point or section of resistance that requires a response to preserve profits S-L: Stop-Loss point or section S: A point or segment that can be bought for profit generation as a support point or segment (Short-term Stop Loss can be said to be a point where profits and losses can be preserved or additionally entered through installment trading. You should trade from a short-term investment perspective.) GAP refers to the difference in prices that occurred when the stock market, CME and BAKKT exchanges were closed because they are not trading 24 hours a day. G1: Closed price G2: Market price at the time of opening (Example) Gap (G1-G2)
NASDAQ:AMZN
by readCrypto
Market Week In Review - 12/14/2020 - 12/18/2020The Market Week in Review is my weekend homework where I look over what happened in the previous week and what might come in the next week. It helps me evaluate my observations, recognize new data points, and create a plan for possible scenarios in the future. I do occasionally have some errors or typos and will correct them in my blog or in the comments on TradingView. I do not have an editor and do this in my free time. If you find this helpful, please let me know in the comments. I am also more than happy to add new perspectives and data points if you have ideas. The structure is the following: A recap of the daily updates that I do here on TradingView. The Meaning of Life, a view on the past week What's coming in the next week The Bullish View, The Bearish View Key index levels to watch out for Wrap-up If you have been following my daily updates, you can skip down to the “The Meaning of Life”. If not, then this first part is a great play-by-play recap for the week. Click the original charts for more detail each day. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Monday, December 14, 2020 Once upon a time you dressed so fine Facts: +0.50%, Volume higher, Closing range: 7%, Body: 7% Good: HH/HL, gain on higher volume Bad: Long upper wick, low closing range Highs/Lows: Higher high, Higher low Candle: Long upper shadow, very slim body Advance/Decline: 0.99, about even on advancing and declining stocks Sectors: Technology (XLK +0.36%), Consumer Discretionary (XLY +0.15%). Expectation: Lower   The Nasdaq opened the week with a gap up as first doses of the vaccine for COVID19 were being delivered to frontline health workers. The index climbed from there to a morning high, but then sold off the rest of the day to close near the open. The long upper wick of the candle indicates the buyer momentum in the morning turning to selling in the afternoon. The Nasdaq closed the day with a +0.50% gain on higher volume. The closing range of 7% with a 7% body and no lower wick shows the bears took over in the afternoon. There were about an even amount of advancing stocks and declining stocks. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Tuesday, December 15, 2020 Hey, Mr. Tambourine Man, play a song for me Facts: +1.25%, Volume lower, Closing range: 99%, Body: 40% Good: HH/HL, recovered from mornings lows, closing range Bad: Lower volume Highs/Lows: Higher high, Higher low Candle: Good sized body in upper half over long lower wick Advance/Decline: 2.31, more than two advancing stocks for every declining stock Sectors: Utilities (XLU +1.97%), Energy (XLE +1.97%) were top. Consumer Staples (XLP +0.24%) was bottom. Expectation: Higher   The Nasdaq started with a small gap up on Tuesday, dipped to a morning low and then gained, never looking back and closing near the all-time high set last week. The index closed with a +1.25% gain, a closing range of 99% and a 40% body in the upper half of a bullish candle. The morning selling by the bears was turned into afternoon buying by the bulls. Optimism for a stimulus and good news on Apple production increase for the first half of 2021 helped fuel the gains. Volume was lower than the previous day. Breadth was good with more than two advancing stocks for every declining stock. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Wednesday, December 16, 2020 I wasn't born to lose you Facts: +0.50%, Volume higher, Closing range: 76%, Body: 39% Good: HH/HL, no gap up, low just below yesterday's high Bad: Some selling at close Highs/Lows: Higher high, Higher low Candle: Medium sized body in middle of the candle, smaller wicks Advance/Decline: 0.93, less breadth than yesterday Sectors: Technology (XLK +0.68%) and Consumer Discretionary (XLY +0.66%) were top. Utilities (XLU -1.16%) was bottom. Expectation: Sideways or Higher The Nasdaq found another new all-time high today, putting in a series of higher lows and higher highs over the past four days. Retail Sales data came in lower than expected, but Crude Oil Inventories showed a high demand for oil. But the news the market really responded to was the Fed's continuation of a bond buying program that has brought so much liquidity to the equity markets. The index closed with a +0.50% gain on higher volume. The closing range was 76% with a body of 39% in the middle of the candle. There was less breadth than yesterday with about one advancing stock for every declining stock. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Thursday, December 17, 2020 Well, I see you got your Brand new leopard-skin pillbox hat Facts: +0.84%, Volume higher, Closing range: 99%, Body: 49% Good: HH/HL, upper half of candle is green body, closing at the high Bad: Small gap up Highs/Lows: Higher high, Higher low Candle: Upper half of candle all green body, no top wick. Advance/Decline: 2.11, two advancing stocks for every declining stock Sectors: Real Estate (XLR +1.17%) and Materials (XLB +1.15%) were top sectors. Communications (XLC -0.25%) and Energy (XLE -0.47%) were the only losing sectors. Expectation: Sideways or Higher The market opened up on mixed good and bad economic news. Building Permits and Housing Starts were both higher than anticipated, giving momentum to the Real Estate and Materials sectors. Broader market excitement was dampened by a higher than expected Initial Jobless Claims report. Investors shrugged off the news by noon and markets rose in anticipation of a stimulus deal. The Nasdaq closed at another new all-time high, rising +0.84% on higher volume. The closing range of 99% and a green 49% body in the upper half of the candle represent the morning selling turning to afternoon buying. There were two advancing stocks for every declining stock and 209 stocks with new all-time highs on the Nasdaq. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Friday, December 18, 2020 How many roads must a man walk down Facts: -0.07%, Volume higher, Closing range: 65%, Body: 32% Good: Finished in upper half of range Bad: Lower low, close below open, options expiration caused late day gains Highs/Lows: Higher high, Lower low Candle: Outside day with high closing range, long lower wick Advance/Decline: 0.85, more declining stocks than advancing stocks Sectors: Materials (XLB +0.45%) and Consumer Staples (XLP +0.22%) were top sectors. Real Estate (XLRE -1.73%) and Energy (XLE -1.67%) were bottom sectors. Expectation: Sideways or Higher The Nasdaq gave us one more all-time high to finish the week, and then reversed for most of the day as the bears took over. The day ended with 10 minutes of buying, likely to cover futures and options contracts that expired today. The index ended with a -0.07% loss on higher volume, a mostly sideways move for the end of the week. The closing range of 65% was at the bottom of a 32% red body. There were more declining stocks than advancing stocks. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- The Meaning of Life (View on the Week) The Nasdaq erased last week's loss and continued its climb. The index closed the week with a +3.05% gain on higher volume. The 86% closing range and 82% green body show a solidly bullish week. There is barely any lower wick and the upper wick was created from Friday's intraday volatility on a quadruple witching day to end the week. The week felt bullish with many growth stocks performing very well throughout the week. The S&P 500 (SPX) gained +1.25% for the week, while the Dow Jones Industrial (DJI) gained +0.44%. But the big news continues to be the Russell 2000 (RUT) which put in its seventh week in a row of big gains, gaining +3.05% this week. Heading into the week, it seemed everything would be supercharged for gains. Vaccines rolled out on Monday to the priority front-line health workers. The market opened with a gap-up on the great news. But that news was weighed down by the announcement of new lockdowns in the US and around the world. Nervous investors sold equities and treasury bond yields rose. And yet, the index still closed the day with gains and near the opening price. You could almost hear the collective sigh of relief at close among investors. Tuesday through Thursday were all bullish for the Nasdaq. On same days there were lopsided gains and not all the indexes participated. By Thursday close, everything was looking great. Then Friday's session opened with the anticipation of a quadruple witching day. A witching day is when multiple futures and options contracts all expire on the same day, causing a higher volume of transactions in the market. Friday's session took the index back down to Wednesday's close, filling a gap created by Thursday's open. It looked dismal heading into the late afternoon. While several growth stocks were accelerating, the broader market was declining. That changed in the last 20 minutes when the index bounced off the day's low and gained 0.80% to close the day with a very small loss. Stepping back and looking at the weekly chart, the Nasdaq had higher highs and lower lows for the past five weeks with closing ranges averaging in the upper 3/4 of the candles. Volume was higher this past week mostly because of the quadruple witching day on Friday. The index has been trading just below the middle line of an upward channel drawn from the March market bottom. The sectors took on a character we have not seen for some time. Technology (XLK) is back to leading the sectors for this week. Helped by a number of breakouts in technology growth stocks. Some of those were fueled by speculation in security stocks following a wide and troublesome security breach that impacted both the government and private sector. Consumer Discretionary (XLY) came in second, after very briefly passing Technology on Wednesday morning. Retail Sales data and Santa Claus are likely the reasons for the great performance. Materials (XLB) also performed well on Building Permits and New Housing Starts data that came in better than expected. The big loser for the week was Energy (XLE). This is after five weeks of leading the sector list. Despite vaccine availability and positive oil prices giving it a boost midweek, the nervous sentiment caused by new lockdowns worldwide have put downward price pressure on the sector. US Treasury Bond Yields were higher for the week . The spreads between long term and short term bonds widened. The sale of bonds causes yields to rise and it provides some view into investors' confidence in the economy. To further see investor confidence in the economy, look at corporate bonds compared to short term treasury bonds. The flat price for High Yield Corporate bonds (HYG) shows investors are keeping these bonds while the lower price for shortterm 3-7 treasury bonds (IEI) indicates investors are selling government bonds. As the IEI/HYG ratio gets lower, it shows more bullish sentiment for US corporations and the economy. The US dollar (DXY) declined -0.82% for the week. The dollar is at a support/resistance area formed in the first quarter of 2018. The lower dollar value compared to other currencies can be a boon for US equities as multinational companies will benefit from the lower dollar. Exports become less expensive in international markets while imports become more expensive in the US, causing consumers to shift to domestic products. In addition, the subsidiaries of multinational companies will have a positive impact on performance as the value of revenues are worth more when repatriated to the US dollar and reported in quarterly earnings. The put/call ratio (PCCE) ended the week at 0.596. This level is off the lows seen in November, but is still on the overly bullish side. A contrarian indicator, when the put/call ratio is below 0.7, it signals overly bullish sentiment which typically proceeds a pullback in the market. The indicator was at 0.458 just before the September correction and it was at 0.489 just before the short October correction. Silver (SILVER) was up +7.79% for the week while Gold (GOLD) rose +2.28% for the week. The sudden decline in GOLDSILVER ratio tends to be a positive indicator. Crude Oil was up +4.57% as demand continues to increase from summer lows. Timber (WOOD) is still in strong demand gaining another +3.68%. Copper (COPPER!1) continued to climb with a +2.53% gain while Aluminum (ALI1!) gained +2.46%. The rising prices of these commodities reveals increased economic activity including new construction (WOOD), additional electronics manufacturing and infrastructure (COPPER) and more demand for consumer staples (ALUMINUM). Among the biggest four mega-caps, only Alphabet (GOOGL) closed the week with a loss. All four of the mega-caps are trading above their 10w MA, which is a good sign for the broader market. These mega-caps will influence the indexes, which influences investor sentiment. Apple (AAPL), Microsoft (MSFT) and Amazon (AMZN) all had breakouts from volatility contraction patterns in the past week. Checking in on the prior week's high-profile IPOs. AirBnB is 7% above the opening day close, while DoorDash (DASH) is about 8% below opening day close. In a classic "Sell the news" fashion, Pfizer (PFE) and Moderna (MRNA) both dropped in price this week despite the milestone of vaccines being approved and shipped to the US and globally. SolarWinds (SWI) sold off sharply, losing 40% of its value for the week, after news of a major security breach that impacted government agencies, utilities and the private sector. That had the opposite impact on several other security stocks. One example, Fortinet (FTNT) gained 14% for the week. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- The Week Ahead Tuesday will bring an update on GDP for Q3. Along with GDP, we'll also get a view into corporate profits, prices (inflation/deflation) and consumer spending for Q3. Existing Home Sales for November will be an early indicator of current consumer confidence and economic activity. Weekly Initial Jobless Claims will be released on Wednesday and is expected to continue its increase. More housing data will be made available including New Home Sales and Housing Price indexes (for October). Personal spending data and early consumer sentiment readings for December will also be released. Finally, weekly Crude Oil Inventories will show how demand has been impacted by recent lockdowns. Thursday, markets will close early for the Christmas holiday. That will come after Core Durable Goods Orders data, which will indicate levels of manufacturing activity. Friday, the market will be closed for Christmas. There are not many earnings reports during the holiday week. Cintas (CTAS) and Paychex (PAYX) release earnings on Tuesday and Wednesday respectively. They may provide some additional insight into current employment levels. These uniform and paycheck support stocks would be directly impacted by higher/lower levels of employment. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- The Bullish Side It's easy to be bullish this week. Every day turned in a higher high, with the last three days being new all-time highs. The news of vaccines becoming available in the US is another big step forward to end the pandemic and get the US economy back on track. The fed made two big statements this week that are bullish. First, it announced that the bond buying programs will continue into the foreseeable future. This bond buying will continue to lower yields on bonds, causing investors to keep money in equity markets. Higher liquidity, usually means higher stock prices. The fed also did a stress test of the US banking system late on Friday. After the test, they announced banks can resume stock buyback programs. That means the fed is much less nervous about bank failures, a good sign for progress back to a fully functioning US economy. Commodity prices are soaring on high demand. Wood is soaring on new construction. Copper is soaring on new network infrastructure and electronics manufacturing. Aluminum is soaring as so many consumer staples (including my beer) require aluminum in the manufacturing process. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- The Bearish Side We are still waiting for stimulus. The market has been rising in anticipation of a stimulus bill being signed into law this week. Unfortunately, it did not happen before the end of Friday. Congress had to approve and get the Presidents signature for a two-day extension on spending to keep the government from shutting down. If a stimulus is not approved by Sunday, the markets could open Monday with a dip down as investors reprice stocks without the stimulus. Good news is already priced in and bad news could be disastorous. Tesla will be added to the S&P 500 on Monday. It will be the sixth largest company on the S&P 500 when its added (Alibaba is bigger, but not part of the US S&P 500). This could be another case of Sell the news. The price has increased steadily in anticipation of the addition and spiked near close on Friday as call options expired. If investors take profits on Monday, expect a negative impact to the S&P 500 and the Nasdaq. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Key Nasdaq Levels to Watch There are several key levels in the Nasdaq to keep an eye out for and respond accordingly. First on the positive side: The high of Friday at 12,809.60 will be the first test. Let's see if the index can put in a new daily high to start the week. The next round-number resistance could come at 13,000. Round-number resistance is caused by traders’ tendency to put in sell orders at round numbers. On the downside, there are several key levels to raise caution flags: 12,432.71 is the low of this week. Staying above the low would put in another week of higher lows. The 21d EMA is at 12,354.52. The index has closed above this moving average line for the last 32 trading days. The support area of 12,250 proved itself last week. Hopefully, that area will hold the index above that price level. Dropping below would be a warning shot from the bears. November support area is at 12,000 and a round-number point. A move below this line would raise more flags for investors. The 50d MA is at 11,895.50. The index is 7% above this line. Testing the 50d MA will make a lot of investors nervous, already causing a big hit to portfolios. September Support line is at 11,300. Dropping to this level would be a sure sign of correction. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Wrap-up It's Christmas week! And more importantly, we are getting closer to the end of 2020! With gambling and marijuana stocks having huge gains recently, investors must be telling us athat 2021 will be a lot more fun. While the support of the fed is encouraging, the market is still expecting a stimulus bill to be sent to the President and signed. If that doesn't happen on Sunday, expect some pullback from recent highs. The Brexit deal is also continuing to drag on and can offer more pessimism in the market. With that out of the way, we still have to look at the higher highs and higher lows on increased volume and be encouraged. Growth stocks and breakout stocks are all acting well on a week-by-week basis. Investors still do not have many options outside of equity markets to put money. Keep risk under control, but staying engaged seems the right thing to do right now. Good luck, stay healthy and trade safe!
NASDAQ:IXIC
by drewby4321
Daily Market Update for 12/18Trend lines drawn from the 10/30 bottom (35d), 12/14 (5d) and today 12/18 (1d).   If you have ideas to make the daily update better, please let me know in the comments.   I do occasionally have some errors or typos and will correct them in my blog or in the comments on TradingView. I do not have an editor and do this in my free time. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Friday, December 18, 2020 How many roads must a man walk down Facts: -0.07%, Volume higher, Closing range: 65%, Body: 32% Good: Finished in upper half of range Bad: Lower low, close below open, options expiration caused late day gains Highs/Lows: Higher high, Lower low Candle: Outside day with high closing range, long lower wick Advance/Decline: 0.85, more declining stocks than advancing stocks Sectors: Materials (XLB +0.45%) and Consumer Staples (XLP +0.22%) were top sectors. Real Estate (XLRE -1.73%) and Energy (XLE -1.67%) were bottom sectors. Expectation: Sideways or Higher -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Market Overview The Nasdaq gave us one more all-time high to finish the week, and then reversed for most of the day as the bears took over. The day ended with 10 minutes of buying, likely to cover futures and options contracts that expired today. The index ended with a -0.07% loss on higher volume, a mostly sideways move for the end of the week. The closing range of 65% was at the bottom of a 32% red body. There were more declining stocks than advancing stocks. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Indexes and Sectors All indexes rose to new all-time highs before selling off the rest of the day. The S&P 500 (SPX -0.35%), Dow Jones Industrial (DJI -0.41%) and Russell 2000 (RUT -0.41%) closed lower for the day. Materials (XLB +0.45%) and Consumer Staples (XLP +0.22%) were the top sectors for the day. Utilities (XLU -0.86%) led in the morning but then sold off, a common occurrence this week. The bottom two sectors were Real Estate (XLRE -1.73%) and Energy (XLE -1.67%). The VIX volatility index declined -1.64% but was higher most of the day. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Market Indicators   Yields on US 30y, 10y, and 2y treasury bonds rose for the day. Spreads loosened between the 30y and 10y, while they tightened between the 10y and 2y. Corporate bond prices rose for the day while 3-7 treasury bond prices dropped. Corporate bond yield spread tightened.     The US dollar (DXY +0.22%) advanced for the day. It is right at a support/resistance area from the first quarter of 2018. Silver (SILVER -0.82%) and Gold (GOLD -0.21%) declined. Crude Oil (CRUDEOIL1! +1.38%) gained for the day. Timber (WOOD -0.59%) pulled back a bit. Copper (COPPER1! +1.00%) continues to rise on high demand. Aluminum (ALI1! +0.50%) is back on the rise.   The put/call ratio rose to 0.596, still a very bullish reading. The put/call ratio (PCCE) is a contrarian indicator that shows overly bullish or overly bearish investor behavior. The 0.7 level is considered normal. As it approaches 0.60 (overly bullish) and below, watch for a possible pullback in the market.   -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Market Leaders   The biggest four mega-caps all had losses for the day. Apple (AAPL -1.59%) and Microsoft (MSFT -0.38%) traded above their 21d EMA line. Amazon (AMZN -1.06%) dropped below the 50d MA, tested the 21d EMA, but closed above them both. Alphabet (GOOGL -0.82%) is trading below its 21d EMA, but above its 50d MA. These key moving average lines act as both support and resistance for stocks. Telsa (TSLA +5.96%) led the mega-caps for the day, although it was losing before the last 10 minutes of the trading session. Likely a large amount of options expired today as investors anticipated bet on price increases before Monday's addition to the S&P 500. Adobe (SDBE +1.53%), Master Card (MA +1.02%), and Coca-Cola (KO +0.88%) were at the top of a short list of mega-cap gainers for the day. Nike (NKE -2.29%) dropped ahead of their earnings report but is up 5.44% after hours on beating expectations. Fedex (FDX -5.71%) dropped after not providing full-year guidance in their earnings report. Several growth stocks had big days including Crowdstrike (CRWD +9.99%), DoorDash (DASH +7.87%), AirBnb (ABNB +6.97%), and Digital Turbine (APPS +7.42%). Moderna (MRNA -2.62%) declined for the day but is up after hours on the FDA approval for distribution of their vaccine. Bank stocks including Bank of America (BAC -0.55%) and JP Morgan Chase (JPM -0.49) are up 4.39% and 5.77% are up afterhours. The Fed completed its bank stress test and determined that banks can resume stock buy-back programs but still need to keep dividends at reduced levels. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Looking ahead   No major economic news is scheduled for Monday. On Friday, congress passed a temporary bill to fund the government for two more days, but the larger funding bill including stimulus is still being debated. If the bill does not pass by Sunday, that would obviously be big premarket news that would impact Monday's open. There are no notable earnings releases on Monday for the daily market update. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Trends, Support and Resistance The five-day trend and the longer trend from the 9/20 bottom point to a +0.82% gain. The one-day trend points the other direction, a -0.81% loss. Any stimulus news could be a catalyst in either direction. Good news is assumed to already be priced in while bad news could cause a significant pullback. Support level is still around 12,250, but looks like a new level could be building at around 12,400-12,450. Another test would confirm that level. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Wrap-up   It was a strange end of the week where all the indexes dropped, while several growth stocks moved the opposite direction for big gains. The late afternoon lows were reversed in the last 10 mins as the quadruple witching day came to a close and the expiration of options and futures contracts caused a surge in buying. All eyes are on the stimulus negotiations over the weekend. I'm cautiously optimistic that leaders on both sides in DC do not want their constituents going through the holidays worried about the lack of support for the unemployed, for job retention and survival of small businesses. I'm happy to be done with a week of Dylan lyrics. The legend made great music but the lyrics are depressing, very hard to find happy messages during a week the market rallied. :) Stay healthy and take care!
NASDAQ:IXIC
by drewby4321
Daily Market Update for 12/17Trend lines drawn from the 10/30 bottom (34d), 12/11 (5d) and today 12/17 (1d).   If you have ideas to make the daily update better, please let me know in the comments.   I do occasionally have some errors or typos and will correct them in my blog or in the comments on TradingView. I do not have an editor and do this in my free time. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Thursday, December 17, 2020 Well, I see you got your Brand new leopard-skin pillbox hat Facts: +0.84%, Volume higher, Closing range: 99%, Body: 49% Good: HH/HL, upper half of candle is green body, closing at the high Bad: Small gap up Highs/Lows: Higher high, Higher low Candle: Upper half of candle all green body, no top wick. Advance/Decline: 2.11, two advancing stocks for every declining stock Sectors: Real Estate (XLR +1.17%) and Materials (XLB +1.15%) were top sectors. Communications (XLC -0.25%) and Energy (XLE -0.47%) were the only losing sectors. Expectation: Sideways or Higher -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Market Overview The market opened up on mixed good and bad economic news. Building Permits and Housing Starts were both higher than anticipated, giving momentum to the Real Estate and Materials sectors. Broader market excitement was dampened by a higher than expected Initial Jobless Claims report. Investors shrugged off the news by noon and markets rose in anticipation of a stimulus deal. The Nasdaq closed at another new all-time high, rising +0.84% on higher volume. The closing range of 99% and a green 49% body in the upper half of the candle represent the morning selling turning to afternoon buying. There were two advancing stocks for every declining stock and 209 stocks with new all-time highs on the Nasdaq. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Indexes and Sectors All major indexes finished the day with gains. The Russell 2000 (RUT +1.30%) was the top performing index again. The S&P 500 (SPX +0.58%) and the Dow Jones Industrial (DJI +0.49%) joined the Russell 2000 and Nasdaq with new all-time highs. Real Estate (XLRE +1.17%) and Materials (XLB +1.15%) were top sectors, getting a boost from the pre-market New Building Permits and Housing Starts data that exceeded expectations. Health (XLV +1.07%) was also a top performer among the sectors. Utilities (XLU +0.67%) led in the morning, signaling some caution for investors likely following the Initial Jobless Claims report. The only two losing sectors for the day were Communications (XLC -0.25%) and Energy (XLE -0.47%). The VIX volatility index declined -2.53%. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Market Indicators   Yields on the US 30y and 10y treasury bonds rose for the day while the 2y treasury bond yield dropped. As a result, the spreads between long term and short term bonds widened. Corporate bond prices dropped for the day while 3-7 treasury bond prices also dropped. Yields rising. The yield spread is tightening as the yields on corporate bonds rise faster than the short-term treasury bonds. The spread is still trending flat, so not much concern here.     The US dollar (DXY -0.71%) declined for the day. It is right at a support/resistance area from the first quarter of 2018. Silver (SILVER +2.87%) and Gold (GOLD +1.14%) as the GOLDSILVER ratio continues to decline from a 9/23 pivot. Crude Oil (CRUDEOIL1! +0.77%) gained for the day. Timber (WOOD +1.07%) continues to climb. Copper (COPPER1! +1.13%) gained on the day. Aluminum (ALI1! +0.82%) is attempting to break out of a recent resistance level.   The put/call ratio dropped to 0.507, an overly bullish reading. The put/call ratio (PCCE) is a contrarian indicator that shows overly bullish or overly bearish investor behavior. The 0.7 level is considered normal. As it approaches 0.60 (overly bullish) and below, watch for a possible pullback in the market.   -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Market Leaders   Apple (AAPL +0.70%) and Microsoft (MSFT +0.06%) both gained for the day, while Amazon (AMZN -0.15%) and Alphabet (GOOGL -0.95%) had losses. All of them underperformed in intraday, having lower closes than opens. Alphabet is the only of the biggest four mega-caps trading under its 21d EMA. Telsa (TSLA +5.32%) made another new all-time high as it approaches being added to S&P 500. Johnson & Johnson (JNJ +2.64%), PayPal (PYPL +2.64%), and Home Depot (HD +1.62%) were other top performing mega-caps. Taiwan Semiconductor (TSM -1.24%) and AT&T (-2.21%) were a few mega-caps not doing as well. MongoDB (MDB +10.64%) and Sumo Logic (SUMO +11.83%) were two top performing growth stocks. Digital Turbine (APPS +9.70%) also had a great day. Moderna (MRNA +5.09%) had a decent gain after bouncing off its 21d EMA yesterday. Jabil (JBL +7.38%) was up after beating quarterly earnings and revenue expectations, the announcement coming before market open. Fedex (FDX +1.19%) also beat expectations after market close today, but did not provide guidance for the full fiscal 2021 year. The stock is down -4% after hours.   -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Looking ahead   Additional comments from the FOMC will come late in the morning on Friday. Additional oil data will be released in the afternoon. The CFTC will release several reports on speculative positions in commodity futures which indicate investor sentiment. Tomorrow is also a "Quadruple Witching" day, when stock index futures, stock index options, stock options and single stock futures all expire simultaneously. The expiration of contracts and options will result in higher volume and certain issues may even experience price increases/decreases due to the buying and selling required to settle the contracts. Nike (NKE +1.56%) will announce earnings after market close. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Trends, Support and Resistance The five-day trend line points to a +0.73%, while the other trend lines point to a +0.07%. Look for a possible gap-fill to yesterday's high before the index goes higher. Any stimulus news could be a catalyst in either direction. Good news is assumed to already be priced in while bad news could cause a significant pullback. Support level is still around 12,250, but looks like a new level could be building at around 12,400-12,450. Another test would confirm that level. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Wrap-up   We never get tired of yet another new all-time high. The fed's promise to continue buying bonds ensures that liquidity will continue in the markets. Never fight the fed is a popular saying. Any bearish moves are likely to meet with support in this environment. Based on the chart, I have an expectation of Sideways or Higher. But I would not be surprised if we have a small pull back in the next few days. If a larger pullback violated support areas or key moving average lines, then there's reason for concern. For now, be a happy bull and enjoy the higher highs and higher lows. Stay healthy and take care!
NASDAQ:IXIC
by drewby4321
Amazon (AMZN), DJI, IXIC, SPX, XAUUSD, USOIL - December 18Good morning? Dear traders, nice to meet you. "Like" is a huge force for me. By "following" you can always get new information quickly. Thank you for always supporting me. -------------------------------------------------- ----- Breaking strongly above the 3176.40 point, it climbed above 3241.16 points, leading to an attempt to break through the downtrend line (2). It remains to be seen if volatility around December 24 could break above the downtrend line (2)-(3). If you get support at 3294.62, I think it's likely that there will be a move to update the New High. According to the wRSI_SR indicator, the RS line is in the overbought section, so there is a possibility of a short-term downtrend. So, we have to see if we can get support from 3176.40-3241.16. If you get over this short-term downtrend well, we're expecting a nice upside. ------------------------------- (DJI 1D chart) It started with the gap (30154.5-30216.0) rising and closed at 0.49%. It remains to be seen if the index can be maintained above the 29933.8 point. ----------------------------- (IXIC 1D chart) It started with the gap (12658.2-12730.8) rising and closed at 0.84%. You should see if it rises along the uptrend line (2). ------------------------------ (SPX 1D chart) It started with the gap (3701.2-3713.7) rising and ended at 0.58%. We have to see if it rises along the rising channel. --------------------------------- (XAUUSD 1D chart) It is on the rise, breaking above the 1871.820 point. We should watch as it rises above the 1899.330 point and can break above the downtrend line (5)-(6). ----------------------------------------- (USOIL 1D chart) If it rises above the 49.17 point and gains support, an attempt to break above the downtrend line (1) is expected. It remains to be seen if it can rise along the short-term uptrend line (3). -------------------------------------------------- ------------------------------------------- ** All indicators are lagging indicators. So, it's important to know that the indicator moves accordingly with the movement of price and volume. Just for convenience, we are talking upside down for interpretation of the indicators. ** Check support, resistance, and abbreviation points. ** Support or resistance is based on the closing price of the 1D chart. ** All explanations are for reference only and do not guarantee profit or loss on investment. Explanation of abbreviations displayed on the chart R: A point or section of resistance that requires a response to preserve profits S-L: Stop-Loss point or section S: A point or segment that can be bought for profit generation as a support point or segment (Short-term Stop Loss can be said to be a point where profits and losses can be preserved or additionally entered through installment trading. You should trade from a short-term investment perspective.) GAP refers to the difference in prices that occurred when the stock market, CME and BAKKT exchanges were closed because they are not trading 24 hours a day. G1: closing price when closed G2: Market price at the time of opening (Example) Gap (G1-G2)
NASDAQ:AMZN
by readCrypto
Amazon (AMZN), DJI, IXIC, SPX, XAUUSD, USOIL - December 17Hello? Dear traders, nice to meet you. "Like" is a huge force for me. By "following" you can always get new information quickly. Thank you for always supporting me. -------------------------------------------------- ----- It remains to be seen if any attempts are made to break above the downtrend line (2)-(3). At this time, if support is gained at 3294.62, it is expected that a rise to renew the New High will come out. ----------------------------- (DJI 1D chart) It started with a drop in the gap (30199.3-30191.4) and closed at -0.15%. It remains to be seen if the index can be maintained above the 29933.8 point. ------------------------------- (IXIC 1D chart) It started with the gap (12595.1-12611.0) rising and closed at 0.50%. We need to see if it can rise along the uptrend line (2). ------------------------------- (SPX 1D chart) It started with the gap (3694.6-3696.3) rising and closed at 0.18%. We have to see if it rises along the rising channel. ----------------------------- (XAUUSD 1D chart) It remains to be seen if any attempts are made to gain support at the 1855.500-1871.828 range, move up and break above the downtrend line (5)-(6). ----------------------------------------- (USOIL 1D chart) You should watch for any movement that deviates from 45.76-49.17. If it rises above the 49.17 point, it is expected to reorient itself by touching the downtrend line (1). -------------------------------------------------- ------------------------------------------- ** All indicators are lagging indicators. So, it's important to be aware that the indicator moves accordingly with the movement of price and volume. Just for convenience, we are talking upside down for interpretation of the indicators. ** Check support, resistance, and abbreviation points. ** Support or resistance is based on the closing price of the 1D chart. ** All explanations are for reference only and do not guarantee profit or loss on investment. Explanation of abbreviations displayed on the chart R: A point or section of resistance that requires a response to preserve profits S-L: Stop-Loss point or section S: A point or segment that can be bought for profit generation as a support point or segment (Short-term Stop Loss can be said to be a point where profits and losses can be preserved or additionally entered through installment trading. You should trade from a short-term investment perspective.) GAP refers to the difference in prices that occurred when the stock market, CME and BAKKT exchanges were closed because they are not trading 24 hours a day. G1: Closed price G2: Market price at the time of opening (Example) Gap (G1-G2)
NASDAQ:AMZN
by readCrypto
1
Daily Market Update for 12/16Trend lines drawn from the 10/30 bottom (33d), 12/10 (5d) and today 12/16 (1d).   If you have ideas to make the daily update better, please let me know in the comments.   I do occasionally have some errors or typos and will correct them in my blog or in the comments on TradingView. I do not have an editor and do this in my free time.   -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Wednesday, December 16, 2020 I wasn't born to lose you Facts: +0.50%, Volume higher, Closing range: 76%, Body: 39% Good: HH/HL, no gap up, low just below yesterday's high Bad: Some selling at close Highs/Lows: Higher high, Higher low Candle: Medium sized body in middle of the candle, smaller wicks Advance/Decline: 0.93, less breadth than yesterday Sectors: Technology (XLK +0.68%) and Consumer Discretionary (XLY +0.66%) were top. Utilities (XLU -1.16%) was bottom. Expectation: Sideways or Higher   -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Market Overview   The Nasdaq found another new all-time high today, putting in a series of higher lows and higher highs over the past four days. Retail Sales data came in lower than expected, but Crude Oil Inventories showed a high demand for oil. But the news the market really responded to was the Fed's continuation of a bond buying program that has brought so much liquidity to the equity markets. The index closed with a +0.50% gain on higher volume. The closing range was 76% with a body of 39% in the middle of the candle. There was less breadth than yesterday with about one advancing stock for every declining stock.   -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Indexes and Sectors The S&P 500 (SPX +0.18%) was the only other major index to close with gains. There was less interest in the Dow Jones Industrial (DJI -0.15%) and the small-cap Russell 2000 (RUT -0.36%) today. There was also more focus among sectors. The open started with Utilities (XLU -1.16%) and Real Estate (XLRE +0.03%) leading but things quickly changed. Technology (XLK +0.68%) and Consumer Discretionary (XLY +0.66%) closed the day as the best performing sectors. Energy (XLE -0.49%) was bought up midday after crude oil inventories data looked positive, but sold off in the afternoon. The VIX volatility index declined -1.70%. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Market Indicators   Yields on the US 30y and 10y treasury bonds rose for the day while the 2y treasury bond yield remained flat. The spreads between long term and short term bonds widening slightly. Corporate bond prices dropped for the day while 3-7 treasury bond prices also dropped. The yield spread remains about even to slightly tighter.     The US dollar (DXY -0.26%) declined for the day. Silver (SILVER +3.27%) and Gold (GOLD +0.59%) as the GOLDSILVER ratio continues to decline from a 9/23 pivot. Crude Oil (CRUDEOIL1! +0.86%) gained for the day. Timber (WOOD +0.65%) continues to climb. Copper (COPPER1! +0.47%) gained on the day. Aluminum (ALI1! +0.95%) has been going up and down the last several days.   The put/call ratio dropped to 0.547, as bulls are growing in optimism. The put/call ratio (PCCE) is a contrarian indicator that shows overly bullish or overly bearish investor behavior. The 0.7 level is considered normal. As it approaches 0.60 (overly bullish) and below, watch for a possible pullback in the market.   -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Market Leaders   Amazon (AMZN +2.40%) and Microsoft (MSFT +2.41%) both broke out on higher volume from recent consolidation areas and closed well above their 21d EMA and 50d MA. Those moving averages were acting as resistance for the two stocks over the past week or so. Apple (AAPL -0.05%) pulled back just slightly from yesterday's breakout. Alphabet (GOOGL -0.22%) closed below its 21d EMA for the third day. Other mega-caps with big gains included PayPal (PYPL +3.88%) and Alibaba (BABA +2.66%). Tesla (TSLA -1.65%) continued to pullback and Pfizer (PFE -2.25%) continues to slide despite the delivery of vaccines. "Sell the news." Penn National Gaming (PENN +6.79%) and Draft Kings (DKNG +6.53%) were among top growth stocks for the day. GrowGeneration (GRWG +11.56%) also had a big gain, breaking into new highs. The market sees tops growth opportunities are in gambling and marijuana. 2021 should be much more fun. As with Pfizer, Moderna (MRNA -6.92%) continues to fall back to earth.   -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Looking ahead   Tomorrow, Building Permits data for November will be shared before market open, giving another indication of how the recovery is going. Manufacturing data for November will also be released. Jabil (JBL -1.01%) before market open and FedEx (FDX +1.07%) after market close will be two interesting earnings reports to watch. Jabil serves so many industries that it's outlook on demand will be a clue on broader growth sentiment heading into 2021. FedEx has benefited significantly from the uptick in online-shopping deliveries since the pandemic began. The outlook could both highlight expected post-pandemic consumer behavior, but also could hint toward holiday season retail activity.   -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Trends, Support and Resistance All trend-lines are pointing at the same location which would result in a 0.56% gain tomorrow. That has been the pace of growth for most of December, except a few days. Sentiment is that stimulus is already priced in and so would have a minimal upside on good news, but potentially a big downside on bad news. Support level is still around 12,250, but looks like a new level could be building at around 12,400-12,450. Another test would confirm that level.   -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Wrap-up   Another new high and the uptrend continues. Thanks to the Fed continuing bond buy backs, we could continue to see more growth in the market in the near future. Whereas the liquidity has provided this perpetual growth to the overall market, the worries go to rotations as investors move between industry sectors and cap-size segments. Somedays it's all about growth stocks, other days it's about value. Somedays it's about small-cap and other days it's about mega-caps. As the rotations come and go, they do seem to always rotate back. Stay healthy and take care!
NASDAQ:IXIC
by drewby4321
Daily Market Update for 12/15Trend lines drawn from the 10/30 bottom (32d), 12/9 (5d) and today 12/15 (1d).   If you have ideas to make the daily update better, please let me know in the comments.   I do occasionally have some errors or typos and will correct them in my blog or in the comments on TradingView. I do not have an editor and do this in my free time.   -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Tuesday, December 15, 2020 Hey, Mr. Tambourine Man, play a song for me Facts: +1.25%, Volume lower, Closing range: 99%, Body: 40% Good: HH/HL, recovered from mornings lows, closing range Bad: Lower volume Highs/Lows: Higher high, Higher low Candle: Good sized body in upper half over long lower wick Advance/Decline: 2.31, more than two advancing stocks for every declining stock Sectors: Utilities (XLU +1.97%), Energy (XLE +1.97%) were top. Consumer Staples (XLP +0.24%) was bottom. Expectation: Higher   -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Market Overview   The Nasdaq started with a small gap up on Tuesday, dipped to a morning low and then gained, never looking back and closing near the all-time high set last week. The index closed with a +1.25% gain, a closing range of 99% and a 40% body in the upper half of a bullish candle. The morning selling by the bears was turned into afternoon buying by the bulls. Optimism for a stimulus and good news on Apple production increase for the first half of 2021 helped fuel the gains. Volume was lower than the previous day. Breadth was good with more than two advancing stocks for every declining stock.   -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Indexes and Sectors The Russell 2000 (RUT +2.40%) was back as the top performing major index with a very bullish candle body and no lower wick. The S&P 500 (SPX +1.29%) and Dow Jones Industrial (DJI +1.13%) also had gains for the day. Both the SPX and DJI candles were inside bullish days. Look for a confirmation with a higher high tomorrow. All sectors gained for the day. Utilities (XLU +1.97%) led for most of the day. Energy (XLE +1.97%) also gained the same percentage for the day. Intraday, Real Estate (XLRE +1.75%) had the biggest gains. Consumer Staples (XLP +0.24%) and Communications (XLC +0.82%) were the bottom performers, but still had good gains. The VIX volatility index declined -7.40%. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Market Indicators   Yields on the US 30y, 10y and 2y treasury bonds all rose for the day with the spreads between long term and short bonds widening slightly. A signal that investors are feeling more comfortable with riskier bets. Corporate bond yields dropped for the day while short term (3-7y) treasury bond yields rose. The tightening spread represents movement from the safer treasury bond to riskier corporate bonds as investor's optimism builds for a stimulus package bill to pass in congress.     The US dollar (DXY -0.26%) declined for the day. Silver (SILVER +2.77%) and Gold (GOLD +1.38%) as the GOLDSILVER ratio continues to decline from a 9/23 pivot. Crude Oil (CRUDEOIL1! +1.60%) gained for the day. Timber (WOOD +2.25%) continues to climb. Copper (COPPER1! -0.08%) moved sideways for a second day. Aluminum (ALI1! -1.22%) has been going up and down the last several days.   The put/call ratio rose to 0.628, but still showing bullish optimism among investors. The put/call ratio (PCCE) is a contrarian indicator that shows overly bullish or overly bearish investor behavior. The 0.7 level is considered normal. As it approaches 0.60 (overly bullish) and below, watch for a possible pullback in the market.   -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Market Leaders   Apple (AAPL +5.01%) took the lead among the four biggest mega-caps, after reports it would increase production for the first part of 2021. Amazon (AMZN +0.26%) and Alphabet (GOOGL +0.5%) also gained for the day. Amazon is trading below its 50d MA and Alphabet is trading below its 21d EMA. Microsoft (MSFT -0.03%) had a small loss but was able to close above the 21d EMA and 50d MA lines after dipping below them in the morning. Other top gaining mega-caps included Walt Disney (DIS +2.74%) and Nike (NKE +2.28%). JP Morgan (JPM +1.71%) and Bank of America (BAC +1.49%) also were top mega-cap gainers. Tesla (TSLA -1.04%) pulled back a bit while Pfizer (PFE -1.28%) continues to drop back from highs (sell the news?). Growth stock Chewy (CHWY +10.05%) took another big step up. Solar Edge (SEDG +6.97%) and NIO (NIO +6.15%) were among top growth stock performers, likely getting a boost from the confirmation of President-elect Biden and a bright future for alternative energy. Moderna (MRNA -5.06%) joins Pfizer in the sell-the-news slide from highs after vaccines are becoming available.   -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Looking ahead   Retail sales data for November will be released before the market opens tomorrow. Mid-morning an update on Crude Oil Inventories will be released. In the afternoon, FOMC will make statements about economic projections and announce any interest rate changes. No interest rate change is expected, but the remarks may have an impact, good or bad, on investor confidence.   There are no notable earnings announcements on Wednesday for the daily market update.   -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Trends, Support and Resistance The trend line from the 10/30 bottom points to a +0.90% which would bring the index back to new all-time highs. The one-day trend line points to just below that point but still an all-time high. The five-day trend line is pointing to a -0.58% loss. The index is well above the 12,250 support area, but it did go that distance last Wednesday after making a new all-time high. If the index passes through the 12,250 support area and the 21d EMA, then the next support area is the November support around 12,000. A drop tomorrow beyond that point should raise the alarm.   -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Wrap-up   The market was mostly back to its current bullish rally characteristics today. Small-caps are leading the Russell 2000 to new all-time highs, Energy is a leading sector and there is a good amount of breadth across the market gains. The only unusual thing for today was also having Utilities and Real Estate at the top of the sector performance list. This has only been the case in recent months when the markets were not doing well. We won't overthink it. We have a new high and a new low on the Nasdaq for the third day in a row. The trend is up. Investors are selling Treasury Bonds and buying Corporate Bonds. The US Dollar is dropping more which can help US equity markets. The gold/silver ratio is declining. World governments are continuing to roll out the vaccine. And the its looking more likely the US stimulus bill will pass through congress. Stay healthy and take care!
NASDAQ:IXIC
by drewby4321
Amazon (AMZN), DJI, IXIC, SPX, XAUUSD, USOIL - December 16Hello? Dear traders, nice to meet you. "Like" is a huge force for me. By "following" you can always get new information quickly. Thank you for always supporting me. -------------------------------------------------- ----- It seems that there is a move to break away from the downtrend line (4). We must see if we can move above the 3176.40 point and break off the downtrend line (4). If the price can be held above the downtrend line (4), further gains are expected. I think this will likely lead to an attempt to break above the downtrend line (2)-(3). If it falls at 3104.0, it is a short-term Stop Loss. However, it is possible to gain support and climb at 3008.91, so careful trading is necessary. This is because it can gain support and rise at the M-Signal line of the 1W chart passing through the 3008.91-3104.0 section. So, on the 1W chart, you can see that it is maintaining an upward trend. -------------------------------- (DJI 1D chart) The gap (29861.6-29919.1) started with a rise and ended at 1.13%. ------------------------------ (IXIC 1D chart) It started with the gap (12440.0-12543.3) rising and closed at 1.25%. We have to see if we can keep the index above the uptrend line (2). ----------------------------- (SPX 1D chart) It started with the gap (3647.5-3666.4) rising and closed at 1.29%. -------------------------------- (XAUUSD 1D chart) The volatility around December 16th (December 15th-17th) should be watched to see if there is any movement that deviates from the 1830.705-1871.828 range. An attempt to break above the downtrend lines (5) and (6) is expected if it rises to the 1855.500-1871.828 range and gains support. ----------------------------------------- (USOIL 1D chart) You should watch for any movement that deviates from the 42.76-49.17 segment. If it is supported at 45.76, it is expected to rise above 49.17. -------------------------------------------------- ------------------------------------------- ** All indicators are lagging indicators. So, it's important to be aware that the indicator moves accordingly with the movement of price and volume. Just for convenience, we are talking upside down for interpretation of the indicators. ** Check support, resistance, and abbreviation points. ** Support or resistance is based on the closing price of the 1D chart. ** All explanations are for reference only and do not guarantee profit or loss on investment. Explanation of abbreviations displayed on the chart R: A point or section of resistance that requires a response to preserve profits S-L: Stop-Loss point or section S: A point or segment that can be bought for profit generation as a support point or segment (Short-term Stop Loss can be said to be a point where profits and losses can be preserved or additionally entered through installment trading. You should trade from a short-term investment perspective.) GAP refers to the difference in prices that occurred when the stock market, CME and BAKKT exchanges were closed because they are not trading 24 hours a day. G1: Closed price G2: Market price at the time of opening (Example) Gap (G1-G2)
NASDAQ:AMZN
by readCrypto
Amazon (AMZN), DJI, IXIC, SPX, XAUUSD, USOIL - December 15Hello? Dear traders, nice to meet you. "Like" is a huge force for me. By "following" you can always get new information quickly. Thank you for always supporting me. -------------------------------------------------- ----- It started with the gap (3116.42-3143.0) rising and closed at 1.30%. We need to see if we can break off the downtrend line (4) and move above the 3176.40 point. If you don't get off the downtrend line (4), you'll end up falling. Therefore, it is not recommended to climb above the 3176.40 point and enter until you have confirmed that you are gaining support. If you fall from 3104.0, you can touch 3008.91, so you need to trade carefully. In the wRSI_SR indicator, it is showing a short-term uptrend as it breaks out of the oversold section. We have to see if we can continue this trend. ------------------------------ (DJI 1D chart) It started with the gap (30046.4-30123.9) rising and closed at -0.62%. We have to see if we can quickly ascend above 29933.8 points. Also, we have to see if we can keep the index above the 29467.0 point. -------------------------------- (IXIC 1D chart) It started with the gap (12377.9-12447.4) rising and closed at 0.50%. We have to see if we can go up along the uptrend line (2). ---------------------------------- (SPX 1D chart) It started with the gap (3663.5-3675.3) rising and closed at -0.44%. We have to see if it can rise within the rising channel. --------------------------------- (XAUUSD 1D chart) It remains to be seen if volatility around December 16 can gain support at 1830.705 and the uptrend line (4). If it falls from 1803.382, it may fall into the 1731.106-1753.992 range, so careful trading is necessary. --------------------------------------- (USOIL 1D chart) You should watch for any movement that deviates from the 42.76-49.17 segment. If you keep the price above the 45.76 point, it is expected to rise above the 49.17 point. -------------------------------------------------- ------------------------------------------- ** All indicators are lagging indicators. So, it's important to be aware that the indicator moves accordingly with the movement of price and volume. Just for convenience, we are talking upside down for interpretation of the indicators. ** Check support, resistance, and abbreviation points. ** Support or resistance is based on the closing price of the 1D chart. ** All explanations are for reference only and do not guarantee profit or loss on investment. Explanation of abbreviations displayed on the chart R: A point or section of resistance that requires a response to preserve profits S-L: Stop-Loss point or section S: A point or segment that can be bought for profit generation as a support point or segment (Short-term Stop Loss can be said to be a point where profits and losses can be preserved or additionally entered through installment trading. You should trade from a short-term investment perspective.) GAP refers to the difference in prices that occurred when the stock market, CME and BAKKT exchanges were closed because they do not trade 24 hours a day. G1: Closed price G2: Market price at the time of opening (Example) Gap (G1-G2)
NASDAQ:AMZN
by readCrypto
3
Daily Market Update for 12/14Trend lines drawn from the 10/30 bottom (31d), 12/8 (5d), the 12/9 pivot (4d) and today 12/11 (1d).   If you have ideas to make the daily update better, please let me know in the comments.   I do occasionally have some errors or typos and will correct them in my blog or in the comments on TradingView. I do not have an editor and do this in my free time.   -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Monday, December 14, 2020 Once upon a time you dressed so fine Facts: +0.50%, Volume higher, Closing range: 7%, Body: 7% Good: HH/HL, gain on higher volume Bad: Long upper wick, low closing range Highs/Lows: Higher high, Higher low Candle: Long upper shadow, very slim body Advance/Decline: 0.99, about even on advancing and declining stocks Sectors: Technology (XLK +0.36%), Consumer Discretionary (XLY +0.15%). Expectation: Lower   -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Market Overview   The Nasdaq opened the week with a gap up as first doses of the vaccine for COVID19 were being delivered to frontline health workers. The index climbed from there to a morning high, but then sold off the rest of the day to close near the open. The long upper wick of the candle indicates the buyer momentum in the morning turning to selling in the afternoon. The Nasdaq closed the day with a +0.50% gain on higher volume. The closing range of 7% with a 7% body and no lower wick shows the bears took over in the afternoon. There were about an even amount of advancing stocks and declining stocks.   -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Indexes and Sectors The Russell 2000 (RUT +0.11%) was the only other index to end the day positive. The S&P 500 (SPX -0.44%) and the Dow Jones Industrial average (DJI -0.62%) both had losses on the day. All of the indexes have low closing ranges with little to no lower wicks. Technology (XLK +0.36%) and Consumer Discretionary (XLY +0.15%) were the top sectors. All other sectors were down for the day with Energy (XLE -3.50%) performing the worst. Utilities (XLU -0.51%) briefly led in the morning, indicating some defensive moves for investors, but sold off later in the day even as the major indexes fell back from morning highs.   The VIX volatility index rose +6.05%. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Market Indicators   Yields on the US 30y, 10y and 2y treasury bonds all dropped for the day with the spreads between long term and short term remaining about the same. Corporate bond yields rose slightly for the day while short term (3-7y) treasury bond yields remained about the same. The move away from corporate bonds (causing yields to rise) is something to watch but not yet significant.     The US dollar (DXY -0.06%) declined for the day. Silver (SILVER -0.46%) and Gold (GOLD -0.63%) both dropped for the day. Crude Oil (CRUDEOIL1! -0.12%) was also down slightly. Timber (WOOD +0.27%) gained for the day. Copper (COPPER1! +0.00%) was even while Aluminum (ALI1! +1.59%) gained for the day.     The put/call ratio rose to 0.566, back to the overly bullish side. The put/call ratio (PCCE) is a contrarian indicator that shows overly bullish or overly bearish investor behavior. The 0.7 level is considered normal. As it approaches 0.60 (overly bullish) and below, watch for a possible pullback in the market.   -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Market Leaders   The biggest four mega-caps had mixed days. Microsoft (MSFT +0.44%) closed back above its 21d EMA and 50d MA. Amazon (AMZN +1.3%) was able to close above its 21d EMA but could not stay above the 50d MA after crossing it mid-day. Alphabet (GOOGL -1.27%) closed below its 21d EMA. Apple (AAPL -0.51%) had a loss for the day but continues to trade above its 21d EMA and 50d MA. The moving averages are key lines of support and resistance and show how these large companies are performing in the market and influencing the indexes. Other mega-caps also had a mix of results. The biggest gainers were Tesla (TSLA +4.89%), Netflix (NFLX +3.82%), PayPal (PYPL +3.14%) and Nvidia (NVDA +2.27%).  Walt Disney (DIS -3.65%) and Pfizer (PFE -4.64%) dropped back from recent gains. Growth stocks that did well include Peloton (PTON +4.11%), Datadog (DDOG +3.32%) and Fiverr (FVRR +2.58%). An older favorite, Qualys (QLYS +7.51%) had a big gain after news of a security breach in the US Treasury department. Social Media stocks Pinterest (PINS -1.88%) and SNAP (SNAP -3.24%) did not fare so well for the day. DOMO (DOMO +20.84%) broke out on huge volume today.   -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Looking ahead   Economic news tomorrow will include Import/Export price indexes. Industrial Production data for November will also be released and is expected to be lower than the previous month.   There are no notable earnings announcements on Monday for the daily market update.   -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Trends, Support and Resistance The trend line from the 10/30 bottom points to a +1.92% which would bring the index back to new all-time highs. The one-day and five-day trend lines, as well as the trend line from the 12/9 pivot are pointing to a -0.5% to -0.67% loss for tomorrow. So far the 12,250 area has held-up well as support and is just above the 21d EMA. If the index passes through the 12,250 support area and the 21d EMA, then the next support area is the November support around 12,000. A drop tomorrow beyond that point should raise the alarm.   -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Wrap-up   It was a bit of a rocky start to the week. The market opened up with positive news that vaccines were being delivered to frontline healthcare workers. There was optimism on stimulus talks in congress as well as a positive outlook for Brexit negotiations overseas. However, as the day went on, concerns around new COVID lockdowns and what would come of the Fed meetings this week began weighing on investor confidence. The morning surge in Utilities and the dropping treasury bond yields are both signs of that nervousness, while the jitters were confirmed in the afternoon sell-off. This is likely how the week will progress. More back and forth as the market mixes positive and negative news, mixed expectations on global outlook, and measuring when the pandemic will finally come to an end. But overall, the index is starting the week with a higher low than the previous week and a higher high than the previous day. Many growth stocks are continuing to do what they are supposed to do, grow. Keep an eye out for indications of change, but the trend is your friend. Stay healthy and take care!
NASDAQ:IXIC
by drewby4321
2
Amazon (AMZN), DJI, IXIC, SPX, XAUUSD, USOIL - December 14Hello? Dear traders, nice to meet you. "Like" is a huge force for me. By "following" you can always get new information quickly. Thank you for always supporting me. -------------------------------------------------- ----- We have to see if we can get support at 3104.0 and rise above 3176.40. If you fall from 3176.40 point, you can touch 3008.91 point, so you need to trade carefully. 3008.91 is the point that must be supported in order to ascend to an important support point. --------------------------------- (DJI 1D chart) It remains to be seen if the index can be maintained above the 29933.8 point. -------------------------------- (IXIC 1D chart) We have to see if we can go up along the uptrend line (2). ---------------------------------- (SPX 1D chart) It remains to be seen if the bullish channel can rise between the uptrend line (3)-(4). --------------------------------- (XAUUSD 1D chart) We need to make sure we can get support at point 1830.705. Also, we need to see if the volatility around December 16th will cause any movement to deviate from the 1830.705-1855.500 range. If it falls from 1815.137, it is expected to touch the 1731.106-1753.992 section, so careful trading is required. ---------------------------------------- (USOIL 1D chart) You should watch for any movement that deviates from the 42.76-49.17 segment. You also need to see if you can get support and climb at 45.76. -------------------------------------------------- ------------------------------------------- ** All indicators are lagging indicators. So, it's important to be aware that the indicator moves accordingly with the movement of price and volume. Just for convenience, we are talking upside down for interpretation of the indicators. ** Check support, resistance, and abbreviation points. ** Support or resistance is based on the closing price of the 1D chart. ** All explanations are for reference only and do not guarantee profit or loss on investment. Explanation of abbreviations displayed on the chart R: A point or section of resistance that requires a response to preserve profits S-L: Stop-Loss point or section S: A point or segment that can be bought for profit generation as a support point or segment (Short-term Stop Loss can be said to be a point where profits and losses can be preserved or additionally entered through installment trading. You should trade from a short-term investment perspective.) GAP refers to the difference in prices that occurred when the stock market, CME and BAKKT exchanges were closed because they are not trading 24 hours a day. G1: closing price when closed G2: Market price at the time of opening (Example) Gap (G1-G2)
NASDAQ:AMZN
by readCrypto
3
Market Week In Review - 12/7/2020 - 12/11/2020The Market Week in Review is my weekend homework where I look over what happened in the previous week and what might come in the next week. It helps me evaluate my observations, recognize new data points, and create a plan for possible scenarios in the future. I do occasionally have some errors or typos and will correct them in my blog or in the comments on TradingView. I do not have an editor and do this in my free time. If you find this helpful, please let me know in the comments. I am also more than happy to add new perspectives and data points if you have ideas. The structure is the following: A recap of the daily updates that I do here on TradingView. The Meaning of Life, a view on the past week What's coming in the next week The Bullish View, The Bearish View Key index levels to watch out for Wrap-up If you have been following my daily updates, you can skip down to the “The Meaning of Life”. If not, then this first part is a great play-by-play recap for the week. Click the original charts for more detail each day. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Monday, December 7, 2020 Run for your life with me Facts: +0.45%, Volume lower, Closing range: 78%, Body: 78% Good: Higher high, higher low, closing range Bad: Lower volume Highs/Lows: Higher high, Higher low Candle: No lower wick, small upper wick, green body Advance/Decline: 0.91, slightly more declining stocks then advancing stocks Sectors: Communications (XLC +0.63%) and Utilities (XLU +0.56%) were the leading sectors. Energy (XLE -2.34%) was the worst performing sector. Expectation: Sideways or Higher It was a good start to the week for the Nasdaq. The only problem, it was only the Nasdaq. The other major indexes had decidedly different days while the Nasdaq made a new all-time high. The index ended the day with a +0.45% gain on lower volume. The closing range of 78% and green body of 78% represent a day with no lower wick where the morning open was the low and the index never revisited that spot. There were two pullbacks in the afternoon that brought the index to the middle of the range, but both were bought back. The second pull back around 3:30p followed Consumer Credit data that was half of expectation. There were slightly more declining stocks than advancing stocks. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Tuesday, December 8, 2020 If anything could ever be this good again Facts: +0.50%, Volume higher, Closing range: 92%, Body: 56% Good: Close higher on volume, reversing morning lows Bad: Nothing Highs/Lows: Higher high, Lower low Candle: Bullish outside day with longer lower wick Advance/Decline: 1.77, more than three advancers for every two decliners Sectors: Energy (XLE +1.49%) and Health Services (XLV +0.76%) were top sectors. Utilities (XLU -0.30%) and Real Estate (XLRE -0.46%) were the bottom. Expectation: Sideways or Higher After sending some mixed signals on Monday, the market reconfirmed the current bullish rally on Tuesday. The Nasdaq closed at an all-time high, and the Russell 2000 continued its rally after a short pause. There was more breadth in the market with more than three advancing stocks for every two declining stocks on the Nasdaq and 195 stocks making new highs. The index finished the day with a +0.50% on higher volume. The outside day is marked by a higher high and lower low than Monday and is bullish with the 92% closing range and large 56% body over a long lower wick. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Wednesday, December 9, 2020 Long road to ruin there in your eyes Facts: -1.94%, Volume higher, Closing range: 15%, Body: 80% Good: Support above 12,300 Bad: Sold off with little to no upward reversals Highs/Lows: Higher high, Lower low Candle: Bearish outside reversal day Advance/Decline: 0.54, two decliners for every advancer Sectors: Energy (XLE +0.22%) and Industrials (XLI +0.22%) were top sectors. Communications (XLC -1.19%) and Technology (XLK -1.92%) were the bottom. Expectation: Sideways or Lower 191 stocks on the Nasdaq managed to set a new high before the index took a downward spiral that never came back. The index closed sharply down after progress stalled in congress to pass a new stimulus bill. By the end of the day there were two declining stocks for every advancing stock. The Nasdaq finished with a -1.94% loss on higher volume. The closing range of 15% and 80% red body define a bearish outside reversal candle with a higher high and a lower low than yesterday. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Thursday, December 10, 2020 Do you remember the days We built these paper mountains?   Facts: +0.54%, Volume lower, Closing range: 88%, Body: 73% Good: Held support near 12,250, closed near high Bad: Gap down at open, then choppy intraday Highs/Lows: Lower high, Lower low Candle: Thick green body, high closing range Advance/Decline: 1.59, three advancing to two declining Sectors: Energy (XLE +3.07%) was top. Industrials (XLI -0.95%) was bottom. Expectation: Sideways or Higher   The Nasdaq opened the day with a gap down after disappointing employment data released in the morning. The index tested the support area around 12,250, but refused to go lower. The bulls ruled the morning as the index rose to the intraday high and then going back and forth in a choppy afternoon but closing near the high. The Nasdaq finished the day with a +0.54% gain on lower volume. The closing range was 88% with a 73% body. There were three advancing stocks for every two declining stocks. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Friday, December 11, 2020 Take it till life runs out   Facts: -0.23%, Volume lower, Closing range: 96%, Body: 30% Good: Held support near 12,250 Bad: Inside day not indicating direction Highs/Lows: Lower high, Higher low Candle: Inside day, small body over longer lower wick Advance/Decline: 0.69, three declining to every two advancing Sectors: Communications (XLC +0.60%) was top. Energy (XLE -1.15%) was bottom. Expectation: Sideways   The Nasdaq closed the week with an inside day that included an intraday bounce of the 12,250 support area. That inside day could mean a continuation of the downward bearish movement. However, balance that with a high closing range and the mid-day reversal which could be a bullish sign. The direction changes came as mixed economic news was shared. Producer Purchasing Index was lower than expected, released before market open. Consumer Confidence was higher than expected, released mid-morning. Ultimately it was a stop-gap bill in congress to prevent government shutdown that brought the index off its lows to close with a 93% closing range and a 30% body over a long lower wick. The Nasdaq finished the day with a -0.23% loss, a much smaller loss than the 1% at mid-session. There were almost three declining stocks for every two advancing stocks. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- The Meaning of Life (View on the Week) The Nasdaq lost -0.69% in a volatile week that had new all-time highs at the top and tested support areas at the bottom. The weekly candle has a closing range of 42% under a 21% red body. The candle's long upper wick and long lower wick along with the smaller body represent a week of indecision. And that's exactly what it felt like. There was one broad market rally day, and all the others were either lopsided gains for the Nasdaq or rotations among sectors. Volume for the week was lower than last week, but higher than average. The S&P 500 (SPX) lost -0.96% for the week and the Dow Jones Industrial (DJI) pulled back -0.57%. The Russell 2000 (RUT) was the only index to finish the week with gains, climbing +1.02%. That is the sixth week in a row that the small-cap index outperformed the other major indexes. The week began with a new all-time high. However, Monday's rally was not shared by the other indexes, sending mixed signals on what would happen next. What happened on Tuesday was a big rally day where all indexes gained for the day, likely on the positive news that UK had administered its first vaccine dose. That would be short-lived as Wednesday brought a sell-off that resulted in the Nasdaq losing almost 2%. The next two days continued the down trend with lower highs and another losing day on Friday. Stepping back and looking at the weekly chart, the Nasdaq still has a higher high and a higher low. The indecisive candle is still in an uptrend which could confirm the rally continuation next week. However, this is the lowest closing range in six weeks, potentially a turning point. Despite starting the week in last place, Energy (XLE) rose to the top of the sector list starting from Tuesday as the first vaccine doses were made available in the UK. That positive vaccine news boosted the sector that is likely to benefit from the increased activity in travel and leisure sectors. Communications (XLC) led at the beginning of the week, but could not keep up with Energy and finished the week in second. Utilities (XLU) also had moments of leadership on Monday and Tuesday. The sector is a defensive play in equities and an alternative to moving money into other safe havens such as bonds. Real Estate (XLRE) was the worst performing sector for the week. Technology (XLK) that heavily impacts market performance, underperformed the S&P 500 this week. Communications (XLC) led for two days, before being overtaken by the top three and ending the week in fourth place. Utilities (XLU) was the loser of the week. The defensive play was not needed by investors who seemed optimistic about vaccines, stimulus talks and oil agreements. That was enough optimism to ignore the unemployment data signaling trouble for the economy. US Treasury Bond Yields were lower for the week as investors bought up the safe haven bonds among volatility in the equity market. The spreads between long term and short term bonds tightened, although the US10Y-US02Y spread widened on Friday. The bond buying did give some support to the US Dollar. The US Dollar (DXY) rose +0.30% for the week. That follows a three week downtrend that brought the dollar to its lowest value since April 2018. Corporate bond yields rose for the week while short term treasury bonds yield lowered. This wider spread between the two bonds shows a bit nervousness in US corporations and the economic recovery. The put/call ratio (PCCE) ended the week at a much more comfortable level of 0.737, showing a bit less bullish optimism among investors. A contrarian indicator, when the put/call ratio is below 0.7, it signals overly bullish sentiment which typically proceeds a pullback in the market. The indicator was at 0.458 just before the September correction and it was at 0.489 just before the short October correction. Silver (SILVER) was down -1.05% for the week while Gold (GOLD) remained flat at -0.08% for the week. Crude Oil was up +0.94% as demand continues to increase from summer lows. Timber (WOOD) is still in strong demand gaining another +3.11%. Copper (COPPER!1) continued to climb with a +0.86% gain while Aluminum (ALI1!) dropped -1.25%. Only Apple (AAPL) was able to finish the week with a gain, albeit just a slight increase over open. The doji style candle is entirely above the 10w MA which is a good sign for continuation of the upwards trend. Alphabet (GOOGL) traded well above its 10w MA but the week brings a lower high and lower low. Microsoft (MSFT) and Amazon (AMZN) closed the week below their 10w MA. The week had two big IPOs. The first was DoorDash (DASH) which traded with a 20% range on Wednesday's opening day and following with two days of an 8% range. AirBnB (ABNB) was the second big IPO, opening on Thursday with a 15% swing in the first 30 minutes. That action settled down to finish the week with a loss. Greenwich Lifesciences (GLSI) traded up 2868% on Wednesday before settling at around a 930% gain by close. The company disclosed a 100% survival rate in trials of a breast cancer treatment. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- The Week Ahead The week will begin with the OPEC monthly report on Monday. On Wednesday, Retail Sales data for November will be released. The FOMC will release several reports and the Fed will announce any decision on Interest Rate changes. The interest rates are expected to remain the same. Thursday will bring Building Permits data for November. The weekly Initial Jobless Claims will also be released. Thursday will also bring earnings announcements from Rite Aid (RAD), Fedex (FDX) and Jabil (JBL). Nike (NKE) will announce earnings on Friday. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- The Bullish Side For the bullish side, take a look at the weekly chart. The week ended with a higher high and a lower low. That's the most apparent sign that we are still in an uptrend, despite a few choppy days this week. Volume was a little lower but higher than recent weekly averages. As I write this, the Pfizer vaccine has been approved for the US and we should start to see the first doses made available in a few days. Each time we have vaccine news, there is a boost to the markets on improving confidence in the economic recovery. The US markets have lagged behind other foreign markets that are seen as recovering sooner from the pandemic. The availability of the vaccine in the US, could change that expectation. The Put/Call ratio finally settled back into a reasonable range just above 0.7. Other contrarian indexes such at the CNN Fear & Greed index are starting to ease back to normal levels. The weeks before Christmas historically do well in the markets. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- The Bearish Side Congress went another week with mixed news on further stimulus and it now looks like it will be delayed until the new year. The markets soared on news that a bipartisan group of senators agreed to compromise on stimulus, but those hopes were quickly smashed by a refusal from Mitch McConnell to accept included terms. Optimism for a stimulus continued to wane as the week went on. Short term treasury bond yields have been declining and the spread between long term and short term yields is widening. The buy up of short term bonds as well as the sale of corporate bonds shows some nervousness among investors in equity markets. The nervousness resulted in a week of back-and-forth prices, rotations among industry sectors and lopsided rallies among the indexes. That volatility could also be seen in the VIX as it reversed from a downward trend that started six weeks ago. The VIX is at the same level it was the week of December 10, 2018 right before another decline into Christmas. The Fed is not expected to change interest rates on Thursday. However, there is talk that short-term inflation is on the rise. If the fed were to decide to control that with an interest rate hike, it would surprise the markets and have at least a short-term negative impact on equities. The weeks before Christmas historically do well in the markets, except when they don't. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Key Nasdaq Levels to Watch There are several key levels in the Nasdaq to keep an eye out for and respond accordingly. First on the positive side: The high of Friday at 12,383.50 will be the first test. Let's see if the index can put in a new daily high to start the week. It was a good sign when the index passed 12,500 last week, but it is now below that line again. That could be an area of resistance moving back upward. The all-time high is at 12,607.14. A new all-time high signals the continuing bullish rally. The next round-number resistance could come at 13,000. Round-number resistance is caused by traders’ tendency to put in sell orders at round numbers. On the downside, there are several key levels to raise caution flags: The support area of 12,250 proved itself this week. Hopefully, that area will hold the index above that price level. The 21d EMA is at 12,169.43. The index has closed above this moving average line for the last 29 trading days. November support area is at 12,000 and a round-number point. A move below this line would raise flags for investors. The 50d MA is at 11,758.18. The low of Thursday, Nov 4 is at 11,394.21. There is a gap to fill below that line. September Support line is at 11,300. Dropping to this level would be a sure sign of correction. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Wrap-up We are on the march to the Christmas holiday. Historically, this is one of the best times of the year to be in the market. Except two years ago in December 2018, when the market took a final dive to bottom out on Christmas eve day and then start a new rally the day after Christmas. The vaccines in the US will start to become available next week and a massive coordination effort is under way to make sure it gets to the right people as soon as possible. Progress with that deployment should provide confidence to investors. Caution and risk management is a must. But let's hope for a clear uptrend early in the week and momentum through the holidays. Good luck, stay healthy and trade safe!
NASDAQ:IXIC
by drewby4321
Daily Market Update for 12/11Trend lines drawn from the 10/30 bottom (30d), 12/7 (5d), the 12/9 pivot (3d) and today 12/11 (1d).   If you have ideas to make the daily update better, please let me know in the comments.   I do occasionally have some errors or typos and will correct them in my blog or in the comments on TradingView. I do not have an editor and do this in my free time.   -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Friday, December 11, 2020 Take it till life runs out   Facts: -0.23%, Volume lower, Closing range: 96%, Body: 30% Good: Held support near 12,250 Bad: Inside day not indicating direction Highs/Lows: Lower high, Higher low Candle: Inside day, small body over longer lower wick Advance/Decline: 0.69, three declining to every two advancing Sectors: Communications (XLC +0.60%) was top. Energy (XLE -1.15%) was bottom. Expectation: Sideways   -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Market Overview   The Nasdaq closed the week with an inside day that included an intraday bounce of the 12,250 support area. That inside day could mean a continuation of the downward bearish movement. However, balance that with a high closing range and the mid-day reversal which could be a bullish sign. The direction changes came as mixed economic news was shared. Producer Purchasing Index was lower than expected, released before market open. Consumer Confidence was higher than expected, released mid-morning. Ultimately it was a stop-gap bill in congress to prevent government shutdown that brought the index off its lows to close with a 93% closing range and a 30% body over a long lower wick. The Nasdaq finished the day with a -0.23% loss, a much smaller loss than the 1% at mid-session. There were almost three declining stocks for every two advancing stocks.   -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Indexes and Sectors The Dow Jones Industrial average (DJI +0.16%) was the only major index to finish the day with gains. The S&P 500 (SPX -0.13%) and the Russell 2000 (RUT -0.57%) had losses for the day. The S&P 500 had a lower high and lower low, while the Dow Jones Industrial finished the week with an outside day. Communications (XLC +0.60%) was the top sector. Industrials (XLI +0.24%) and Consumer Staples (XLP +0.22%) were the next two best performing. Energy (XLE -1.15%) and Financials (XLF -1.01%) were the worst performing of the day.   The VIX volatility index gained +3.51%. At the mid-day high it was up 11.76%. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Market Indicators   US 30y and 10y treasury bond yields rose while the 2y yield sharply dropped as investors bought up the short-term bonds. The spread between the 30y and 10y yields remained the same, while the spread between 10y and 2y yields widened. The yield on corporate bonds rose for the day while short term treasury bond yields fell, tightening the spread between the two as investors exchange riskier corporate bonds for safe-haven treasury bonds.     The US dollar (DXY +0.18%) rose for the day. Silver (SILVER -0.10%) and Gold (GOLD -0.08%) dropped slightly today. Crude Oil (CRUDEOIL1! -1.09%) dropped back from yesterday's gain. Timber (WOOD +0.149%) gained for the day. Copper (COPPER1! -0.73%) and Aluminum (ALI1! +-1.79%) lost ground for the day.     The put/call ratio rose to 0.737, a reversal in recent overly bullish sentiment. The put/call ratio (PCCE) is a contrarian indicator that shows overly bullish or overly bearish investor behavior. The 0.7 level is considered normal. As it approaches 0.60 (overly bullish) and below, watch for a possible pullback in the market.   -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Market Leaders   Three of the four biggest mega-caps had gains for the day. Microsoft (MSFT +1.30%) and Amazon (+0.48%) both gained but still closed below their 21d EMA and 50d MA key moving averages. Alphabet (GOOGL +0.4%) also rose for the day and is trading right at its 21d EMA. Apple (AAPL -0.67%) was the only of the four to have a loss. AAPL is trading above the key moving averages, but showed a bearish harami candle showing some indecision with investors.   Other mega-caps that had gains include Walt Disney (DIS +13.59%) that had huge gains after announcing new plans and price increases for its streaming service. Toyota Motor Corp (TM +5.54%) rose on news that they'll introduce an electric vehicle to their lineup. Tesla (TSLA -2.72%) was down for the day. Facebook (FB -1.29%) also continued losses after the US government announced lawsuits to break-up the company earlier in the week. Growth stocks were at the extremes on Friday. Solar Edge (SEDG +6.59%), CHWY (CHWY +9.02%), MongoDB (MDB +6.56%), and ETSY (ETSY +2.86%) were among the big gainers. Lululemon (LULU -6.71%) was down, despite a great earnings release the night before. Restoration Hardware (RH -5.29%), Snowflake (SNOW -5.18%) and RIOT (RIOT -7.28%) were among other losers. This week's big IPOs AirBnb (ABNB -3.77%) and DoorDash (DASH -5.91%) also lost on the day. Moderna (MRNA +0.80%) is up another 3% after hours on an announcement that the US government will double its purchase of the company's vaccine doses.   -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Looking ahead   OPEC will release its monthly report on Monday. Otherwise, there is not much economic news coming for Monday.   There are no notable earnings announcements on Monday for the daily market update.   -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Trends, Support and Resistance The trend line from the 10/30 bottom points to a +2.16% which would bring the index back to new all-time highs. The one-day trend line is pointing to a sideways move that would result in a -0.08% loss. The five-day trend and the trend from the 12/9 pivot are pointing to a -1.04% which would retest the 12,250 support area. So far that area has held-up well and is just above the 21d EMA. The QQQ ETF successfully tested its own 21d EMA the last two days. If the index passes through the 12,250 support area and the 21d EMA, then the next support area is the November support around 12,000. A drop tomorrow beyond that point should raise the alarm.   -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Wrap-up   The last several days have all offered a very different character to the market. Tuesday seemed everything was going well, another new all-time high with a very bullish candle. However, the rally day wasn't shared by the other major indexes. Wednesday brought a bearish drop of almost 2% and it seemed that would continue into Thursday. Thursday turned out to be very bullish for growth stocks, but the rally attempt wasn't shared broadly. We end the week on Friday with a back-and-forth session that left the Nasdaq with an indecisive inside day. Some signals show bullish and some show bearish. It is finally time to get some rest this weekend from a long week, refresh mentally and be ready to respond to whatever comes on Monday. Stay healthy and take care!
NASDAQ:IXIC
by drewby4321
Daily Market Update for 12/10Trend lines drawn from the 10/30 bottom (29d), 12/4 (5d), the 12/9 pivot (2d) and today 12/10 (1d).   If you have ideas to make the daily update better, please let me know in the comments.   I do occasionally have some errors or typos and will correct them in my blog or in the comments on TradingView. I do not have an editor and do this in my free time.   -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Thursday, December 10, 2020 Do you remember the days We built these paper mountains?   Facts: +0.54%, Volume lower, Closing range: 88%, Body: 73% Good: Held support near 12,250, closed near high Bad: Gap down at open, then choppy intraday Highs/Lows: Lower high, Lower low Candle: Thick green body, high closing range Advance/Decline: 1.59, three advancing to two declining Sectors: Energy (XLE +3.07%) was top. Industrials (XLI -0.95%) was bottom. Expectation: Sideways or Higher   -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Market Overview   The Nasdaq opened the day with a gap down after disappointing employment data released in the morning. The index tested the support area around 12,250, but refused to go lower. The bulls ruled the morning as the index rose to the intraday high and then going back and forth in a choppy afternoon but closing near the high. The Nasdaq finished the day with a +0.54% gain on lower volume. The closing range was 88% with a 73% body. There were three advancing stocks for every two declining stocks.   -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Indexes and Sectors The S&P 500 (SPX -0.13%) and Dow Jones Industrial average (DJI -0.23%) declined for the day. The Russell 2000 (RUT +1.08%) outperformed the other indexes and finished the day with a gain.   Energy (XLE +3.07%) led the day. Financials (XLF +0.17%), Technology (XLK +0.14%) and Communications (XLC +0.06%) were the only other sectors with gains. Industrials (XLI -0.95%) was the worst performing sector of the day.   The VIX volatility index gained +1.12%. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Market Indicators     US30Y and US10Y bond yields dropped for the day and spreads widened slightly between US10Y and US02Y bonds. The US02Y continues the downward trend from a 11/12 pivot.   Corporate Bond yields fell for the day. The spread tightened slightly between corporate and short-term treasury bonds.     The US dollar (DXY -0.29%) dropped for the day. Silver (SILVER +0.04%) and Gold (GOLD -0.15%) were relatively even compared to the previous days drop. Crude Oil (CRUDEOIL1! +2.96%) spiked as vaccines began rolling out globally. Timber (WOOD +0.29%) gained for the day. Copper (COPPER1! +1.94%) and Aluminum (ALI1! +0.81%) also had gains.     The put/call ratio dropped back to 0.570 showing a little more bullish optimism than yesterday. The put/call ratio (PCCE) is a contrarian indicator that shows overly bullish or overly bearish investor behavior. The 0.7 level is considered normal. As it approaches 0.60 (overly bullish) and below, watch for a possible pullback in the market.   -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Market Leaders   Apple (AAPL +1.2%) was the only of the four biggest mega-caps to end the day with gains. Amazon (AMZN -0.09%) and Microsoft (MSFT -0.6%) had a second day of losses and closed below the 21d EMA and 50d MA lines. Alphabet (GOOGL -0.57%) continues to slide from 12/3 high and closed right at its 21d EMA.     Not a lot of mega-caps had gains for the day. Tesla (TSLA +3.74%), PayPal (PYPL +2.15%) and Netflix (NFLX +1.52%) were among the top mega-cap gainers. AT&T (T -2.45%) pulled back after two days of big gains. Many growth stocks reversed yesterday's losses. Cloudflare (NET +8.72%) was a top performer. Twitter (TWTR +8.43%) possibly benefited from news the US government would sue to break up Facebook (FB -0.29%). Restoration Hardware (RH -3.20%) lost on the day after beating expectations in their earnings release. Adobe (ADBE -1.42%) was down after hours despite beating expectations and providing a stronger-than-expected outlook.  It was a similar story for Lululemon (LULU +1.52%), Broadcom (AVGO -1.48%), Oracle (ORCL -0.42%), Costco (COST -0.40%).   -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Looking ahead   Tomorrow will bring Producer Price Index data for November before the market opens. New consumer sentiment data will be released in the morning after the market opens.   There are no notable earnings announcements for the daily market update.   -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Trends, Support and Resistance   I've added a trend line from yesterday's high to mark a pivot. The trend line from the 10/30 bottom points to a +1.96% which would bring the index back to new all-time highs. The five-day trend and one-day trend are pointing to a sideways move for a +0.17% gain. The two day trend line from the 12/9 pivot is pointing to a -1.36% loss which would put the index right at the 12,250 support area that has developed in December. The index would still be above the 21d EMA at that point.   If the index passes through the 21d EMA, then the next support area is the November support around 12,000. A drop tomorrow beyond that point should raise the alarm.   -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Wrap-up   If you are a growth investor, it sure did feel like a bullish reversal today, after yesterday's 2% pull back on the Nasdaq. There are some things to keep in mind. The S&P 500 and Dow Jones Industrial both dropped for the day, showing some lopsided focus to the one day rally. With the exception of Apple, the biggest mega-caps did not participate in the rally and are trading below key moving average lines. Good growth stocks releasing earnings that beat expectations are selling off on the news. Smart investors selling into strength to protect profits. The Two-Year Treasury bond yield has been sliding since a mid-November pivot and is approaching early September levels. Although, yesterday's pullback helped elevate the put/call ratio, it dropped back today and continues to show overlay bullish outlook by investors, something that can be dangerous. SQQQ volume is elevated as investors hedge portfolios and/or expect a drop in prices. If yesterday shook you out of some positions, be cautious as you move back in as we may see more volatility heading into the holidays. Take care!
NASDAQ:IXIC
by drewby4321
Amazon (AMZN), DJI, IXIC, SPX, XAUUSD, USOIL - December 10Hello? Dear traders, nice to meet you. "Like" is a huge force for me. By "following" you can always get new information quickly. Thank you for always supporting me. -------------------------------------------------- ----- It started with a drop in the gap (3177.29-3167.89) and closed at -2.30%. You need to make sure you get support at point 3104.0. If it falls, it is a short-term Stop Loss. If you fall from 3008.91 point, you can touch 2363.49 point, so you need to trade carefully. If support is gained between 3008.91-3104.0, an attempt is expected to break above the downtrend line (2)-(3). --------------------------------- (DJI 1D chart) It started with the gap (30173.9-30229.8) rising and closed at -0.35%. It remains to be seen if the index can be maintained above the 29933.8 point. ------------------------------------ (IXIC 1D chart) It started with the gap (12582.8-12591.7) rising and closed at -1.94%. We need to see if it can rise along the uptrend line (2). ------------------------------------- (SPX 1D chart) It started with the gap (3702.3-3706.0) rising and closed at -0.79%. ----------------------------------- (XAUUSD 1D chart) It fell without breaking above the 1871.828 point. With volatility around December 16th, we have to touch the 1830.705 point and the uptrend line (4) and see if we can move up. If it goes down, you can touch the 1731.106-1753.992 section, so you need to trade carefully. ------------------------------------- (USOIL 1D chart) You should watch for any movement that deviates from the 42.76-49.17 segment. -------------------------------------------------- ------------------------------------------- ** Check support, resistance, and abbreviation points. ** Support or resistance is based on the closing price of the 1D chart. ** All explanations are for reference only and do not guarantee profit or loss on investment. Explanation of abbreviations displayed on the chart R: A point or section of resistance that requires a response to preserve profits S-L: Stop-Loss point or section S: A point or segment that can be bought for profit generation as a support point or segment (Short-term Stop Loss can be said to be a point where profits and losses can be preserved or additionally entered through installment trading. You should trade from a short-term investment perspective.) GAP refers to the difference in prices that occurred when the stock market, CME and BAKKT exchanges were closed because they are not trading 24 hours a day. G1: Closed price G2: Market price at the time of opening (Example) Gap (G1-G2)
NASDAQ:AMZN
by readCrypto
Daily Market Update for 12/9Trend lines drawn from the 10/30 bottom (28d), 12/3 (5d), and today 12/9 (1d). If you have ideas to make the daily update better, please let me know in the comments. I do occasionally have some errors or typos and will correct them in my blog or in the comments on TradingView. I do not have an editor and do this in my free time. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Wednesday, December 9, 2020 Long road to ruin there in your eyes Facts: -1.94%, Volume higher, Closing range: 15%, Body: 80% Good: Support above 12,300 Bad: Sold off with little to no upward reversals Highs/Lows: Higher high, Lower low Candle: Bearish outside reversal day Advance/Decline: 0.54, two decliners for every advancer Sectors: Energy (XLE +0.22%) and Industrials (XLI +0.22%) were top sectors. Communications (XLC -1.19%) and Technology (XLK -1.92%) were the bottom. Expectation: Sideways or Lower -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Market Overview 191 stocks on the Nasdaq managed to set a new high before the index took a downward spiral that never came back. The index closed sharply down after progress stalled in congress to pass a new stimulus bill. By the end of the day there were two declining stocks for every advancing stock. The Nasdaq finished with a -1.94% loss on higher volume. The closing range of 15% and 80% red body define a bearish outside reversal candle with a higher high and a lower low than yesterday. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Indexes and Sectors The S&P 500 (SPX -0.79%), Dow Jones Industrial average (DJI -0.35%) and Russell 2000 (RUT -0.82%) also reversed lower from yesterdays gains. They all outperformed the Nasdaq, with the Dow Jones Industrial having the smallest loss. Energy (XLE +0.22%) and Industrials (XLI +0.22%) were the leading sectors of the day. Consumer Discretionary (XLY -0.10%) led mid-morning before losing ground. Communications (XLC -1.19%) was just behind Energy at the beginning of the day but finished second to last, ahead of Technology (XLK -1.92%). The VIX volatility index gained +7.69%. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Market Indicators US30Y and US10Y bond yields rose for the day while spreads between long term and short term bonds stayed about even. Corporate Bond yields also rose for the day. The spread widened a bit between corporate bonds and short-term treasury bonds as investors became a little more nervous about economic recovery. The US dollar (DXY +0.15%) rose for the day. It is reversing off a low not seen since April 2018. Silver (SILVER -2.43%) and Gold (GOLD -1.63%) dropped back from a recent high. Crude Oil (CRUDEOIL1! +0.18%) ticked up a bit despite Crude Oil Inventories data being higher than expected. Timber (WOOD +1.33%) gained for the day. Copper (COPPER1! +0.45%) and Aluminum (ALI1! +2.33%) reversed from yesterday’s losses. The put/call ratio rose to 0.644 showing less optimism from investors. The put/call ratio (PCCE) is a contrarian indicator that shows overly bullish or overly bearish investor behavior. The 0.7 level is considered normal. As it approaches 0.60 (overly bullish) and below, watch for a possible pullback in the market. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Market Leaders The big four mega-caps all had losses for the day. Apple (AAPL -2.09%) and Alphabet (GOOGL -1.85%) are still trading above key moving average lines. Microsoft (MSFT -1.95%) and Amazon (AMZN -2.3%) closed below their 21d EMA and 50d MA lines. Most other mega-caps were down for the day. AT&T (T +2.11%) and Johnson & Johnson (JNJ +1.02%) were able to complete a second day of gains. Tesla (TSLA -6.99%) and Netflix (NFLX -3.72%) fell back from recent gains. Hardest hit were the growth stocks. Moderna (MRNA -7.81%), Cloudflare (NET -7.47%), Okta (OKTA -7.47%) and Fastly (FSLY -6.99%) were among the biggest losers. PagerDuty (PD +0.49%) was one of the few growth stocks I watch that had a gain. Restoration Hardware (RH -0.89%) is up 1% after hours after beating expectations on earnings. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Looking ahead Core Consumer Price Index data for November will be released tomorrow before the market opens. Initial Jobless Claims will also be released before the market opens. Lululemon Athletica (LULU -2.02%), Broadcom (AVGO -1.70%), Oracle (ORCL +1.19%), and Costco (COST -0.88%) are among companies reporting earnings after hours. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Trends, Support and Resistance The trend lines diverged today for the first time in a few weeks. The long-term trend from the 10/30 bottom continues to point to new all-time highs with a gain of +2.36%. The five-day trend flattened a bit but still points to a +1.53% gain. The one-day trend line is pointing to another -3.12% decline. That trend line is derived from the steep slope of today’s sell-off. Likely the index will pause before passing through three support areas. The first area is around 12,250-12,300. Next, expect the index to get some support at the 21d EMA. If not, then the third support area is the November support around 12,000. A drop tomorrow beyond that point should raise the alarm. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Wrap-up The day started with several breakouts in both large, mid, and small-cap stocks. The Nasdaq had 191 stocks hit new highs before reversing and going lower. Many of the breakouts failed and the prices are back below the day’s open. When so many breakouts fail, there may be something wrong. The Nasdaq had a sharp pull-back from a new all-time high. It could bounce back tomorrow, or it could continue to pull back a bit until it finds an area of support. If support areas break down, that could mean a deeper and/or longer correction. Have a plan for raising cash and getting to the sideline or using a hedge strategy to protect your portfolio. Take care!
NASDAQ:IXIC
by drewby4321