jaxdog

jaxdog Updated 

$CVX seems to have a nice pattern here. Looks like it got ahead of it's self on that last major upside move but, has now slowed and putting in a pennant base. I'll be looking to go long on ANY high volume up day from here. Today? TBD. Ideas, not investing / trading advice.

jaxdog Updated 

I like this set-up going into next week. Looks to me that we have several things going here. We have a pullback to Structural Support, Cup W/Handle Formation, Bull Flag Formation and Declining Volume as it pulls back (lack of sellers). This may be a good candidate for your watch list. Look for the solar sector to move higher (there are several good names I'm...

jaxdog Updated 

$AVGO – On a relative basis, Broadcom has held up well when compared to other high beta stocks. When I look at this formation of candles on the right side of the chart, I can see several patterns; 1. Flat base, blue line. 2 ascending triangle, 3. If you look hard an inverse head and shoulders and most important 4. A Minervini – VCP (volatility contraction...

jaxdog

See notes on chart... IF the support area holds again this may be a long candidate... If it breaks, and I think it will, I'll be shorting. The whole chip sector is getting weaker. Ideas, not investing / trading advice.

jaxdog

As you know, we are in a volatile market so taking any trade for more than a few hours or days is taking too much risk. On INTEL we are in a DO or DIE area here. If price drops below the lower support area, who knows where the bottom is? I'll take a short if dropping below. If the market firms up, this could easily rise to the supply zone overhead. I'm really only...

jaxdog Updated 

This will be a very simple trade for me. I have already placed a Buy-Stop Order GTC @ 19.04 which is one penny above the most previous high. See my line on the chart. The reasoning for the trade is that if rates exceed that previous high they are likely to continue to climb. Of course, I'll have a very tight stop which will be no more than 1% risk, maybe less if...

jaxdog

Looks like GLD is putting in a series of higher lows except one oops lower. In addition, it is in a wedging pattern which is showing less volatility. If you are a Mark Minervini fan, a Volatility Contraction Pattern (VCP). Chances are good if this break to the upside (it's close) with volume, it could be a good long trade. If I take this trade my stop would be...

jaxdog

As long as UVXY which trades similar the the VIX is trending down it will be good for bulls... Any reversal good for bears... Just an observation. And, my be changing as I post this...

jaxdog

Looks like the QQQ's may be in an area that "might" act as a support area. TBD. If it does not hold I've drawn in the next area of possible support. These are simply areas of interest. Just because we draw lines on charts does not mean the market will obey. But, these are areas along with moving averages that many traders see which in a way makes them valid areas...

jaxdog Updated 

I would favor a short on SHOP. It could possibly be played long for a bounce back to trend line and maybe even to the 10 / 20 EMAs. It is up pre-market but I'll be watching this for a short set-up if it losses the horizontal support area it tagged yesterday. I may even go long for a day or swing trade if it can get over the downtrend line and then look for a...

jaxdog

$SPY has not been below the 30 week SMA since May of 2020. Just a note to be cautious out there. Make sure to follow your plan if trading this market. For now, I'm over 90% cash and looking for day trades only, long or short on 5 and 15 minute charts (taking into account the daily and weekly too). This post is just an observation. No trading ideas.

jaxdog

It may be time to be looking for a real correction in the indices. It's been rough under the hood for sometime. It may be time for the big liquid leaders to give up some ground. I'm mostly cash right now looking for short set-ups. Not too much looking good to me on the long side. However, this can change on a dime. I'm not making any predictions, just watching the...

jaxdog Updated 

This is one of my top ideas for the day. SD is in the Oil / Energy Sector which is being supported lately. If it can get up and over the resistance line I've drawn with some volume, I'll be looking to go long with a 15% to 18% price target by getting back to recent highs. I've made notes on the chart for my reasoning. Ideas, not investing / trading advice.

jaxdog

Just thought it would be interesting to post this and put on watch list. This is nowhere near going long. It needs to stop going down and build a base before it's even considered for a long position. I like the space but me liking and the street liking it are different. Having said that this is on my long term watch list. Ideas, not investing / trading advice.

jaxdog Updated 

Emerging Markets looking to me like we have put in a low with this Reverse Head and Shoulders Pattern. I've drawn in what I feel would be a proper neck line that we are over at this point. It is under both the 50 and 200 SMAs but it has regained both the 10 and 20 EMAs. I've taken a small position and my stop will be 48.80 where I would deem this idea void. Ideas,...

jaxdog Updated 

$LAC I'm catching this late in the day but, I like the action. Today's move puts this over the 10 and 20 EMAs as well as busting up and thru the 50 DMA for a Power of 3 move. The EV's have been doing well lately and of course they need batteries... Volume is heavy to confirm the breakout. I'll be looking to add on any small pullbacks but I think this may just run...

jaxdog

I have an alert set at the support / resistance line drawn on my chart. Should this break below in the coming days, I'll be looking to go short for a swing trade. Ideas, not investing / trading advice. $GOOGL has similar pattern.

jaxdog Updated 

This is a daily chart on $BROS but if you look at the weekly it has regained the 30 week around $53.20 or so (it moves as the stock moves). Both the 10 and 20 EMAs are rising as is the RS Line. It is however still below the 50 DMA which might be a safer entry. But, I've taken an early entry this morning and I'll place a stop on a close below the 30 Week MA. Ideas,...