bkenwell

bkenwell

weekly chart of $GE stock. Need to see a good daily close, but so far, a powerful breakout that sets the stage for $100

bkenwell

Dollar pulled back into that $29.50 zone of support and more importantly, the 10-week ema. That gave us a "bend don't break" reaction as it ultimately held as support. Now rotation higher, I'm looking at a trim in the $30.40 to $30.50 area. That lets us move to a B/E stop (or higher) and turn our attention to $30.50+ to see if the UUP can gain momentum. Cheers

bkenwell

Looking at CL1! now, a break of Friday's low is a daily-down rotation. Below $100 opens the door back down to the $96.50 area, followed by ~$93 and the 200-day. Oil bulls have not been used to seeing /CL in a downtrend this year. However, that's the case at the moment with the 10-day acting as active resistance, while it's below all of its major short- and...

bkenwell

The ES continues to wedge, making this a rather tough trade at the moment. All year long, these consolidations have eventually rolled over and favored the bears. However, there has been some bullish developments over the last few weeks, so longs are looking for some upside traction. The next 7 sessions won't make life any easier, I'm afraid. June 9th is...

bkenwell

From peak to trough, the CME_MINI:NQ1! -- Nasdaq Futures -- saw a 32% correction. We're at 29.9% right now. Back in 2020, it took just six weeks to flush the market down to some level of support & demand, which coincided with the 200-week moving average. For this correction, it took significantly longer -- six months and we don't necessarily have the return...

bkenwell

We have been looking for $SPY to get back to $450, provided it could clear the 200-day moving average. It has been pretty much rangebound between 430 and 440 -- roughly speaking -- and once it cleared the latter, $450 was the upside target. It's not just the 50% retracement, but back into the December lows. From here, we'll have to navigate. another push...