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 …
Details for today’s list will be covered in the live coaching session today
Long Focus:
I’m reluctant to chase extended energy plays without seeing intra-day action.
There are a few energy names that have not moved if they show strength …
Long Focus:
HLF: Earnings play
NBL: Trade on strength
CHK: Trade on strength or weakness
COP: Trade on strength or weakness
DV: Trade on strength
TSL: Trade on strength
Other interesting long charts: INTU, URBN, APC, SLB, CAT, XLE, CVX, …
Market Comments:
Unrest in Middle East is pulling markets down and pushing oil and gold up. The market is gapping from above the pivot high to below the pivot low. As a result my plan is to list some long …
Market Notes: Option expiration is today and the markets are closed on Monday so I will not expect to trade much beyond noon today.
Long Focus:
APC: Big volume daily breakout.
- Trade OR Breakouts over FTP 80.16
- Trade …
Market Comments: Lots of strong and extended patterns. It’s hard to pick a few to focus on. I picked stock closer to inflection points.
Long Focus:
BTU: Breaking out of a tight two days, and 2 months of consolidation and …
Market Comments: Two days of consolidation at a high level could create opportunities long and short. I’d prefer breakouts near daily inflection points as opposed to those in stocks that have not rested. We should be very cautious with shorts.…