SLOPolarBear

SLOPolarBear Updated 

This stock has been on a tear. The selling in the past few days leads me to believe we're inching close the buy zone (blue line and half bowl). Shipping sector is going to look really good if oil prices suddenly fall. I, among other traders, believe oil is going to reverse when it hits a major resistance level in the next couple weeks. Long at the pullback.

SLOPolarBear

But the market is throwing us some curve balls so we may see this trend break lower. I took my meager profits and went to cash, waiting for an all-clear. This is a waaaay over-sold stock in solid company. From the chart we can see clouds ahead, but I respect this company enough to see it break above, at some point. Just not at this exact moment.

SLOPolarBear Updated 

I use this ETF as an indicator of market sentiment more than anything. Notice the massive volume occurring in the past few days. Smells like a distribution. Won't be long before we see some major movement in the market. I'm sidelines with cash for now.

SLOPolarBear Updated 

Yipes. I've never been more neutral on a stock, ever.

SLOPolarBear Updated 

Hopefully you opened up a long position last Friday (see post linked below) or during the premarket trading session today. You would have got in at a good price and rode a massive bullish trend today. Based on closing price action, guessing most of you held on who did. Here's a look ahead this week: The FinTwits are enraged by the price action today. Lots of fits...

SLOPolarBear Updated 

Oil futures are looking ripe to take a spill. Broad market is rising tide again. This one is no-brainer for me. Like the double bottom RSI. Ascending MACD. Volume profile says sellers are done.

SLOPolarBear Updated 

Macy's had some major price action advances recently and sold hard after pushing to highs this stock hasn't seen for more than a year - bag holders jumping, no doubt. I'm liking the fact that price action has been bouncing off the 20 EMA with increasing vigor. MACD says hold on and wait a couple days for a better entry. I'm looking to buy on a gentle and...

SLOPolarBear Updated 

Oil took quite a spill during the pandemic, but the H&S formation that predicted it was printed on the tape long before the first covid reports came out. I'd like to see price action reject off the dotted red line to form the head in the current price channel. For those who believe that this is a descending wedge that we will eventually break out of, I point you...

SLOPolarBear Updated 

Looking to open a long position at the bottom of the trading channel. Strong stock with very strong earnings. Everything about it technically and fundamentally screams buy and hold.

SLOPolarBear Updated 

Anyone who knows what they're looking at here knows what to do. You're welcome.

SLOPolarBear Updated 

A couple more weeks. Maybe three?

SLOPolarBear Updated 

Double bottom divergence on RSI today. Looking at all the reversals from pullbacks before, this is an excellent time to open a LONG position in the SPY. Starting to see more of the same in my basket of stocks that looked pretty bearish the past few days. Loving that long term MACD trend line. Average volume spikes are not losing their intensity, but they're losing...

SLOPolarBear Updated 

Or the 50 MA on the hourly.

SLOPolarBear Updated 

Higher lows on the price action, lower lows on the RSI. Volatility is building up pressure. Notice how we closed on the bottom of that ascending triangle at the bottom of the bull flag. Not buying yet. LONG volatility. SHORT market.

SLOPolarBear

Everything in this chart screams BUY... buy volatility. Expecting a breakout within the next few days. May break below the ascending wedge we're in right now, but I expect to form a higher low. If you look at the channel from its lowest low, we've been in this since about Feb 5. Just shortly before that the market gapped up. I'm expecting SPY to close the gap...

SLOPolarBear Updated 

I see these patterns on lower time frames (5m charts mostly -- thanks algo's). I've never quantified the pattern but they seem to be a distant cousin of the cup & handle. Usually you spot a bunch of other patterns that break down PRIOR to spotting the scythe shape becoming crystal clear, but I've yet to see one of these things fail. If you spot the scythe at highs...

SLOPolarBear

See chart.

SLOPolarBear Updated 

Setups that looked beautiful on Tues/Wed were pretty much broken by Thur. We usually see this happen right before a major pullback in the market (5-10%). We got a fake breakout on the SPY as it gapped up this AM. Sellers took control quickly and as I write this the market is retesting the flag it's been inside of the past week. The VIX is printing a positive...