dorfmanmaster

dorfmanmaster Updated 

RSI at 90, meaning extreme overbought levels. The lower BB has curled up, and intraday volume has been below-average. If we see a pullback; 20ema will line-up around $21.5, to test a short-term support. I am SHORT until we see some consolidation after this parabolic move. $21.5 could be a good place to enter a position.

dorfmanmaster Updated 

This is a 1-month chart, which enables us to see the very long-term trend. Honestly nothing is really happening yet, we maintain a consolidation for almost a year, after a long-term heavy decline. Fundamentally, nothing has shifted yet, but it looks like there is some interest with Biden getting nominated. Stocks are undervalued; that doesn't mean they can...

dorfmanmaster Updated 

Technical Analysis We have a breakout on strong intraday volume (200% above 10-day average). RSI @67 - still not overbought. OBV has been supportive. Because we are in a longer down-trend, we will see multiple resistance; which will very helpful to set your limits. Risk reward ratio is great, using $32.3 as stop-limit loss, and $39 as a sell-exit. Be...

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Technical analysis From October 19th, we have seen a 26-trading-day downtrend. The second attempt to break the trend was at the 38.2% fibonacci retracement level, which failed. We are now trying to test the same downtrend line (Red arrow), while also testing the 61.8% fibonacci retracement level. The 50sma which is converging with the 50% Fib; which seems to...

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Teradyne made a cup & handle, which continues to see strength. Cup & Handle -- Measured Move Making a measured move from the floor of the cup, to the resistance which was all time highs, we get a 18 points (12% aprox.) potential move. Trade Would follow the 5sma (green line) to take profits for 50% of my position, the other 50% if it takes the Resistance 1...

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Notice how the 5sma has been resistance for the SOXX for the past 12 trading days (red oval). This tells us that short-term, SOXX has to break the 5sma to get out of its current down-trend. The purple line is the 50sma, which is now also resistance, as we crossed below it, and is now touching the 5sma.

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Technical Analysis The 200ema has been tested several times, and has worked very well as a mid-term support level. Risk reward ratio is easy to set-up with a 3:1 ratio approximately. Sector & Industry Analysis It is important to note that the industries inside the sector have different performance, which has been very useful to analyze what the market thinks...

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Materials sector has been showing relative strength. It is actually 3th in YTD performance, after 1. Technology, 2. Discretionary (Mega-cap lead sectors) Today it is resting on the 100ema, which has been supportive since march 23rd crash. This level is also coinciding with early 2020's high, as well as 4 other tests of the support; including a failed breakout,...

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An interesting way to see how countries are doing is by the iShares of the country. Mexico had seen a breakout, but very quickly gave that up, creating a failed breakout. Next support & resistance levels are drawn in the chart. 50sma and 200sma look like they will start trading together. Mortality rate there is the highest in the world unfortunately.

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ZS has been behaving well inside the uptrend channel drawn. When we touch the upper part of the channel, we see a pullback to the lower segment line. RSI analysis suggests, we have difficulty going above the 70 level, however, the chart remains bullish whenever the RSI has been over the 43 RSI. A break below 40 in the RSI would be short-term bearish. ----->...

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Fundamental Analysis Democrats and Republicans have various diverging opinions that affect sectors and industries across. The one aspect they do agree on, is they need more infrastructure spending . Technical analysis Breakout to all time highs. RSI @67 OBV supportive of uptrend.

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Technical Analysis INTC breaking out of a consolidation channel after its drop due to disappointing earnings. RSI confirming breakout; at 62. Intraday volume is above its 10sma average. 200sma lining-up with previous tested support. Breaking this resistance , would take us into next parallel channel. Attractive risk-reward-ratio at 2.5, placing...

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200sma has been a strong resistance since the March drop. The red circles show 4 times trying to get to it. Placing fibonacci retracement lines shows confluence with a support level (green rectangle from late June --> early July) The 20sma crossed below the 50sma on September 27th. (Bearish signal trend model) Also, if we close at the current price, we are...

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ARKG broke out of the parallel channel with strong volume (over 110% tan average 10-day volume). When there is a break-out, the 5sma tends to be a good rule of thumb to follow the short-term trend; and not lose to much if there is a failed breakout. RSI shows we are still not overbought at 67; but with strong buying. Using the bottom level of the parallel...

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A follow-trough day was made yesterday September 30th on $COMPX, $SPX and $DJI. We would deny this pattern and most likely the rally, if we break-down below June highs, or 100sma on the SPY. Check out the idea on Distribution & Follow Through Days for more info.

dorfmanmaster Updated 

Investor Business Daily model follows the model of distribution and follow-through days based on volume as follows: Distribution days: A distribution day is defined as a day in which the move by the index is moves -0.5% on stronger volume than the previous day. Follow-Through days: On Day 4 or later of the attempted rally, at least one of the key market...

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The $SPX sell-off from September 2nd highs, created a consolidation range (orange rectangle) from $330-340 approximately. Making a measured move, with the consolidation constituting a half-way measuring flag structure (blue arrows). 100 exponential moving average is now the trend support, coincidental with June highs. Unfortunately, this is not a support trend...

dorfmanmaster Updated 

A close below the 50sma is likely. Fibonacci retracement levels are lining up perfectly with the simple moving averages; creating confluence strength. 100sma is lining up with the 38.2% level. 200sma is lining up with the 50% level; which also coincides with pre-covid levels.