PrepForProfit

PrepForProfit

Zillow closed at $42.46 on Friday for a -$1.50(-3.41%) loss. Price also closed back below the 50% Fibonacci level which was briefly breached to the upside last week but failed to hold as support going into the weekend. The 50% Fibonacci level acted as resistance back in March and April highlighted by the red arrows and appears to still be resistance now. Price...

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The Dow Jones Industrial Average(DJI) closed Friday at $23,723.7 with a loss of $622(-2.55%) to start off the new month of May. With Friday’s decline price also closed below the lower line of the rising wedge pattern after finding support at, and trending just above it, for the previous 8 trading sessions. This is the second wedge break since highlighting the...

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The Dow Jones Industrial Average(DJI) closed today at $24,633 with a gain of $523(+2.2%) which came as the Federal Reserve held their third FOMC meeting of the year and left interest rates near 0%. Price now has three closes above the 50% Fibonacci retracement level which is bullish and places price back in the upper half of the total Fib range from the February...

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Canopy Growth Corp(CGC) closed at $17.53 gaining $1.94(+12.44%) on the trading session today. Price closed above the 38.2% Fibonacci retracement level which had been acting as resistance for the past month and is bullish move considering how long it was pegged below the 38.2% level. While this is a bullish move, we need to see price close above the 50% Fibonacci...

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Gold(GC1!) closed at $1,735 on Friday for a -$9.80(-0.56%) loss on the trading day, but rose +$42.6(+2.52%) on the week from an opening price of $1,693 on Monday. Price is trading above the 23.6% Fibonacci retracement level which is the upper end of the total Fibonacci range from the $1,450 low(0% Fib) to the $1,788 high(100% Fib) and is the most bullish level for...

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The Dow Jones Industrial Average(DJI) closed Friday at $23,775 with a gain of $260(+1.11%) on the day, but loss of $320(1.33%) on the week with a Monday open of $24,095 and a Friday close of $23,775. Monday saw price fall back below the 50% Fibonacci retracement level after briefly trading and closing above it on Friday(17April) and then was unable to move back...

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The Dow Jones Industrial Average(DJI) ended flat, gaining $39.4(+0.17%) in today’s trading session with a close at $23,515. Price has created two small doji candles over the past two days with today’s doji candle topping out right at the 50% Fibonacci retracement level before price fell back down and closed near the days opening price. A doji is a candle with a...

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The Dow Jones Industrial Average(DJI) moved lower for a second consecutive day, losing $631.6(-2.6%) in today’s trading session with a close at $23,018 Price also broke below the rising wedge pattern which is a move that I’ve been expecting ever since highlighting the bearish wedge pattern last week. Along with the wedge breakdown, price also closed below the...

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The Dow Jones Industrial Average(DJI) lost $592.1(-2.4%) for a close at $23,560 as the oil market took center stage and commanded most of the business news cycle today. The Dow is now testing the lower line of the rising wedge pattern and has now moved back below the 50% Fibonacci retracement level as well after managing to close above it on Friday. This move...

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The Dow Jones Industrial Average(DJI) gained $704(+2.9%) on Friday and saw price move above the 50% Fibonacci retracement level which is the midpoint of the total Fibonacci range from the all-time high made in February and the coronavirus selloff low made in March. Price moving above the 50% Fibonacci level represents price regaining half of the losses seen during...

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The Dow Jones Industrial Average(DJI) lost $445(-1.8%) today as price continues to find resistance at the 50% Fibonacci retracement level which is the halfway point between the all-time high of $29,568 made in February and the coronavirus selloff low of $18,213 made in March. Price has been capped at the 50% Fibonacci level for the past 6 trading sessions as...

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While the stock market isn’t seeing the strong bounce that the Federal Reserve was trying to manifest via trillions of freshly printed dollars thrown at the bond and credit markets, gold is loving the massive increase in the money supply. Price is currently testing highs not seen since October 2012 near $1,800 which is where the current resistance level rests. ...

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The Dow Jones opened at $23,698 and closed at $23,390 today for a -$328(1.4%) loss after a long holiday weekend, and after a new $2.3 trillion round of corporate bond bailouts announced by the Federal Reserve this past Thursday. Price failed to move above the critical 50% Fibonacci retracement level which is where price also found resistance on Thursday. The 50%...

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The Dow Jones Industrial Average opened at $23,690 and closed at $23,719 today for a $285(+1.22%) gain. Price created a doji candle at the 50% Fibonacci retracement level which represents trader indecision at a critical Fib level. A doji candle is where price closes at, or near, the level it opened at with very small upper and lower wicks and resembles a "+"...

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The Dow Jones finished up $779(3.4%) on Wednesday with an opening price of $22,893 and closing price of $23,433. Price held above the 38.2% Fibonacci retracement level which is acting as short-term support after previously being a resistance level, but price remains below the 50% Fib which is the middle of the total Fib range from the February high to the...

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After seeing a gap-up open of nearly $900 after an overnight futures session surge, the Dow Jones failed to push higher during regular market trading today and closed down -$884(-3.7%) while also failing to move above the 50% Fibonacci level pointed out in the previous chart shared. Price needs to regain the 50% Fib level in order for the overall bearish trend in...

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Dow Jones Futures are currently up nearly $900(4%) to $23,400 and has made a push above the 38.2% Fibonacci retracement level and out of the bearish lower levels of the total Fib range. With price moving above the 38.2% Fib level, price has also created a higher high and higher low which indicates a short-term uptrend so the view has now shifted from bearish to...

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The Dow Jones is currently up nearly $840(3.9%) to $21,785 after holding at the 23.6% Fib level upon futures market open last night. Price is currently testing the downtrend resistance line which for now is still acting as price resistance. This move comes as President Trump and VP Pence had an upbeat tone during Sunday evening’s press conference while touting...