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YELP

Should you long $YELP before earnings? I think there are better risk/reward ratios to pursue, but I would keep an eye on a few of these technical levels to see if there's any short-term, swing trades to be made. Any break above resistance and earnings are the only thing keeping it back. Volume and MACD would support any movements up. Distribution is starting to pull back, and yesterday's candlestick might be indicative of a market hesitant to support it before earnings. Anyone long might want to keep an eye on the support, as failure at the resistance will send it back down to either fill the gap and return to glory or send it substantially lower.
NYSE:YELP
by stephen.punwasi
5
Bulls aren't gonna make it easy for the BearsThis is a 4 hour chart of the QQQ and it shows both the bullish and bearish side of the argument. I have a bias to the bear side due to bearish divergence on the weekly chart and also the head and shoulder pattern. However, the bullish argument is that we have an inverse head and shoulder pattern ( green) opposing the Bears, and also the fact that we are still in a primary bull trend. The Bulls can drive the price all the way to 89.00 level and we could still be bearish long term. If we breach that level and get resistance level above ( 89.61)., then the bears might be in some trouble. That being said, often times in a bullish uptrend, we see the indices make new highs one to break down a few days after and turn bearish when it is least expected. I think right shoulder ( red) might take longer that many bears might be anticipating. I'm bearish medium term( 6 months), bullish short term( 3 weeks)
NASDAQ:QQQ
by aravindran1