DOW and general market should break down beyond the most recent swing lows. Reasons: Short based on these factors - parabolic rise - anemic volume on weekly and daily charts - extreme overbought conditions on Composite Index on weekly charts - close proximity to .618 Fib zone on monthly and weekly swing high/low - pivot in time in Gann's cycles - new moon phase
From previous idea: Mar 9 Comment: missed the buy opportunity ? Sell now and buy again at LONG T3 7060. Retrace after A.T.H. expecting price to retrace and bounce back, to the 7300 as new highs. Expecting resistance at LONG T1, consolidate at LONG T2.
Finding the price action, particularly Friday's gap and go run, highly unusual. We're either 1. Still creating a pattern, or 2. Breaking out. And it's not option 2. It doesn't get much more interesting than this for TA folks. Like most, until this afternoon I was looking at the possibility of a symmetrical triangle or descending triangle. But Friday's move...
Can we see Nasdaq closing the week at a record high and S&P 500 breaking through the falling trendline and horizontal resistance? If not today, I'd be expecting this early next week. Hope we don't see a big red candle today as this would negate the view.
Now this week's new Trade Idea of The Week is in CH ROBINSON (CHRW). We decided to enter a bullish position in one of our watchlist stocks, CH ROBINSON. We entered this trade on the long side at $92.94 and we have already made some gains today. This is a great setup that we loved to play called a squeeze. This is where the price consolidates and then starts to...
Another trade we entered today was in PRAXAIR (PX). Heres why we like this bullish position for a nice swing trade: 1) OVERALL MARKET STRENGTH - The overall market looks phenomenal after a strong move the last couple of days and looks to move to new highs. 2) SECTOR STRENGTH - The industrials sector itself is looking phenomenal after today's move. You can see...
I'm expecting another hateful growth. Everybody wants just short, so they'll miss this rally again. I see no risks here, just steady growth.
Here are the days trades that BigPOW generated for multi day swing trades, actually ES triggered yesterday. GC long FEb 8 at 1320 NQ short Feb 8 6475 ES short Feb 7 2684 ZB short Feb 8 144'24 will keep updating as new trades hit and watch these trades. BigPOW is new adaptation of the Day trade Algo
People lot smarter than me saying this - this is what I see. Merrill lynch two Fridays ago said correction is on.
NASDAQ FUTURES looking to be the strongest out of the indices. it is the only one that has held the 100MA firmly, expect a pop to 50MA on this one, or at the very least a pop to $6500 or slightly higher before switching from long to short.
The monthly shows us that the NQ is stretched. Let's see what's going on from here... P!
This company is the number 1 mobile security developer in China. #Crypto? Chart looks good on the weekly +
I elaborated about this pattern here on TV already a couple times. Because we have reached the Centerline and price formed this pattern, I'm confident that we could see a larger move down to the L-MLH. Let's observe how this plays out to get a good understanding of the price movement within this context. P!
All Trade Parameters shown on the chart. Short setup on 1h Supply. Daily Reversal Pattern forming with a powerful engulfing candle! Looks like we reached the High of the Year.