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Stocks & Equities

Stock Trading Alert: Uncertainty Following Recent Run-Up, Will Uptrend Continue?

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Posted by Paul Rejczak - Sunshine Profits

on Monday, 06 March 2017 08:15

Originally sent to subscribers on March 6, 2017, 6:56 AM.

Briefly: In our opinion, speculative short positions are favored (with stop-loss at 2,410, and profit target at 2,200, S&P 500 index).

Our intraday outlook is bearish, and our short-term outlook is bearish. Our medium-term outlook remains neutral, following S&P 500 index breakout above last year's all-time high:

Intraday outlook (next 24 hours): bearish
Short-term outlook (next 1-2 weeks): bearish
Medium-term outlook (next 1-3 months): neutral
Long-term outlook (next year): neutral

The U.S. stock market indexes were mixed between 0.0% and +0.2% on Friday, as they extended their short-term consolidation following Wednesday's rally after Donald Trump's address to Congress. The S&P 500 index remained relatively close to its new all-time high of 2,400.98. The Dow Jones Industrial Average continued to trade along 21,000 mark on Friday, and the technology Nasdaq Composite index remained close to the level of 5,900. All three major stock market indexes continue to trade close to their new record highs. The nearest important level of support of the S&P 500 index is at around 2,365-2,380, marked by Wednesday's daily gap up of 2,367.79-2,380.13. The next support level is at 2,350-2,355, marked by previous daily gap up of 2,351.16-2,354.91. The support level is also at around 2,320. On the other hand, the nearest important level of resistance is at 2,390-2,400, marked by all-time high. Will the market extend its year-long medium-term uptrend even further before some more meaningful downward correction? We can see some short-term volatility following almost four-month-long rally off last year's November low at around 2,100. Is this a topping pattern before downward reversal? The uptrend accelerated on Wednesday, and it looked like a blow-off top pattern accompanied by some buying frenzy. The S&P 500 index continues to trade above its medium-term upward trend line, as we can see on the daily chart:

1 CBVauWK



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Stocks & Equities

More Downside Potential in the Gold Stocks

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Posted by Jordan Roy-Byrne - The Daily Gold

on Saturday, 04 March 2017 09:52

While we expected the gold stocks to correct and test GDX $22 and GDXJ $35, we did not expect it to happen so quickly. It literally took only three days! Gold stocks rebounded on Friday and managed to close the week above those key levels. While gold stocks could bounce or consolidate for a few days, we would advise patience as lower levels could be tested as spring begins. 

The weekly candle charts of GDX and GDXJ are shown below along with their 80-week moving average. For the entire week, GDX and GDXJ declined 8% and nearly 12% respectively. Although miners recovered Friday, the weekly candles signal the kind of selling pressure that do not exactly mark “higher lows” within an uptrend. In other words, while miners could recover for a few days or even a week or two, I would expect lower levels to be tested. That essentially includes the 80-week moving averages and the December lows. 

Mar32017minerswk

GDX & GDXJ Weekly



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Stocks & Equities

Chart of the Day - The Stock Market

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Posted by Gary Savage - Smartmoneytracker

on Wednesday, 01 March 2017 08:28

At some point the stock market needs to break the price trend line to confirm a daily cycle decline. The longer they prevent the natural profit taking correction from occurring the bigger the crash will have to be to break that trend line.

cotd-161

https://blog.smartmoneytrackerpremium.com/



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Stocks & Equities

SPX Elliott Wave View: Ending Wave 3 Soon

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Posted by Elliotttwave-Forecast

on Tuesday, 28 February 2017 08:26

Short term Elliott wave view in SPX suggests that the rally from 1/23 low is unfolding as a 5 waves Elliott wave impulse structure where Minor wave 1 ended at 2301, Minor wave 2 ended at 2267.2, and Minor wave 3 remains in progress but close to ending.

Internal of Minor wave 3 shows an extension and subdivided also as an impulse structure where Minute wave ((i)) ended at 2289.1, Minute wave ((ii)) ended at 2271.6, Minute wave ((iii)) ended at 2368.2 and Minute wave ((iv)) ended at 2352.6.

Index has broken above the previous peak at 2368.2 suggesting Index is likely already in wave ((v)) of 3 towards minimum extension area of inverse 123.6-161.8% fib ext area of proposed wave ((iv)) at 2372-2378.

Once wave 3 is complete, index should do a 3 waves pullback to correct the cycle from 2267.2 in Minor wave 4 before the rally resumes in Minor wave 5. We don't like selling the Index and expect buyers to appear again after Minor wave 4 pullback is complete in 3, 7, or 11 swing.


SPX 1 hour chart

43805 large
Larger Image


Elliott Wave Degree



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Stocks & Equities

Stockscores Perspectives: Why Winning Traders Win - IMGN - AIMT - BLD

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Posted by Tyler Bollhorn - StockScores Newsletter

on Tuesday, 28 February 2017 08:13

Screen Shot 2017-02-28 at 6.55.40 AMIn this week's issue:

  • Weekly Commentary
  • Strategy of the Week
  • Stocks That Meet The Featured Strategy
  • Stockscores' Market Minutes Video - Why Winning Traders Win Stockscores Trader Training
  • 7 Reasons to Say No to the Trade
  • Stock Features of the Week - Abnormal Breaks US

Stockscores Market Minutes - Why Winning Traders Win
Seemingly minor differences exist between what winning and losing traders do. This week, I discuss one of these simple differences that came make a massive difference in your trading success. Plus, my weekly market analysis and trade of the week on TV. Click Here to Watch

To get instant updates when I upload a new video, subscribe to the Stockscores YouTube Channel


Trader Training - 7 Reason to Say No to the Trade
As investors, our natural inclination is to seek out stocks that have good qualities. We look for reasons to buy the stocks we are considering and often forget to look for the negatives. Since there are thousands of stocks to consider and almost all of them can have some reason for buying them, it may be better to reverse how we approach the analysis of stocks. Looking for reasons not to buy a stock will emphasize a higher standard for the stocks you do buy and will help to improve your overall market performance.

Here is a list of common reasons I use to throw a stock out of consideration:



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