AspenTrading

AspenTrading

The failure to hold above well-tested resistance at $150.82 and the thrust lower sets up a real test for the bulls. Either $147.64 holds or we are heading to $143.26 & $141.20 You know why most technical analysis falls short of your expectations? It’s too subjective! RSI and stochastics measure periods of overbought and oversold….but this measure has a defined...

AspenTrading

The 3 levels seen on the chart below were automatically drawn in when trading got underway on Sunday afternoon.....well ahead of today's New York open. Adding to this edge were the S/R Levels in The VIX.....knowing where those inflection points are is critical for trading the S&P's.​​ Trade #1 shorting into 4547 You could have used 4530 to take profits ...

AspenTrading

That pop higher today above $22 is pretty key (PURPLE resistance line, most significant). Looking for $23+ Understanding Support and Resistance Levels: Remember, the more informed and objective we can be with numbers, the more confident we can be with our trades. That’s important because, although price action is random (a fact that has been proven time and time...

AspenTrading

Not really sure what to tell ya.....4471-74 has been a known level for over a month - and the market keeps serving up great trades from it.

AspenTrading

It was a pretty solid battle throughout the summer with the lower range of $114.50-$115.50 doing a solid job of keeping prices moving sideways. That changed back on Sep 28th. The rally underway presently is likely to find RESISTANCE at that well-worn support NOW resistance level. Sell rallies. Understanding Support and Resistance Levels Remember, the more...

AspenTrading

Unless we see prices take out 43,900 I favor lower levels.

AspenTrading

This sideways chop/channel has been keeping both the bulls and bears honest for a while now. I am leaning on the GREEN and ORANGE dotted lines (lookback periods) to maintain my bearish bias. There are four sets of support and resistance levels that are displayed by Aspen Trading’s S/R Analysis Tool. Each one is unique to a specified period of time that we then...

AspenTrading

Yesterday's break below ~$267.70 puts SMH on track to move lower towards the other side of the lookback periods (ORANGE & RED dotted line) at ~$255-$249. Only a move back above $267.70 puts the bulls in control. Given the way the S&P's are trading and the negative tape at large, I favor shorts in SMH.

AspenTrading

SPY/S&P 500 looks vulnerable with decent upside resistance. There are four sets of support and resistance levels that are displayed by Aspen Trading’s S/R Analysis Tool. Each one is unique to a specified period of time that we then display directly on the chart. The levels are classified as follows GREEN: displays 2 solid lines (upper/lower) ORANGE: displays 2...

AspenTrading

Pretty key support at PURPLE level. There are four sets of support and resistance levels that are displayed by Aspen Trading’s S/R Analysis Tool. Each one is unique to a specified period of time that we then display directly on the chart. The levels are classified as follows GREEN: displays 2 solid lines (upper/lower) ORANGE: displays 2 lines (upper/lower)...

AspenTrading

$SBUX Certainly worth considering longs leaning against the $110.38 level I like the Oct 15 110.115 Short Put Spread There are four sets of support and resistance levels that are displayed by Aspen Trading’s S/R Analysis Tool. Each one is unique to a specified period of time that we then display directly on the chart. The levels are classified as follows GREEN:...

AspenTrading

The break below well tested support in conjunction with a weak S&P 500 should see continued downward pressure on kiwi.

AspenTrading

These levels have created a pretty impressive price channel. At some point this will give way though.....~115.62 holds the key for the bulls who have been waiting for this ETF to catch fire. I suspect they might be disappointed.