Market Comments: The markets are gapping lower with the Q’s gapping below very important support at 56.67. This puts the markets near very important inflection points and will affect how we trade. As you’ll see below our short focus will …
Long Focus:
CI: Is flagging nicely on daily and hourly. Key levels to break on the upside are yesterday’s high, 43.67 and R1 43.75. Because it has rallied right up to resistance, I’d be very careful about buying weakness but …
Long Focus:
VFC: Has held up during market weakness and yesterday moved higher on good volume to an important daily high of 97. This level is not the top of resistance but it is an inflection point and volume ramped …
Market Comments: After 2 up/down days there are a lot of mixed signals but also quite a bit of consolidation on the hourly time frame that could power a move in either direction. I’m going to try to be very …
Market Comments: Indexes got weaker after a much anticipated jobs report suggesting the bulls priced it in yesterday and the market will have to look for some other reason to move today. It could also mean a choppy day and …
Long Focus:
CAM: Big volume new 52 week high and breaking out of a daily consolidation all on a closing basis. Key daily support created by the consolidation comes in at 60.19 to 59.90. Yesterday’s high is 60.63.
- Trade …
Market Comments: With the negative 3-day pivot pattern (see video in training section – Conflicting and Confirming Patterns), I’ll have a negative market bias today unless the OR patterns are just plain bullish. I’ll be quite negative if we break …
Long Focus:
DVN: Broke out of a daily consolidation yesterday, and is in the energy group so it should be followed. Key support level will be the prior days high of 90.47 which lines up nicely with S1 of 90.49.…
Long Focus:
APA: Broke out of a key daily consolidation area right at a positively sloped 50 day MA on Friday. There is plenty of resistance from its highs in January but the breakout and it being in the energy …
Market Comments: Note the daily pattern on the market watch charts of: The two charts that are the weakest relative to their 50-day MA (Q’s and IWM) in that they touched it, did not make a new low vs the …