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Nasdaq manages to stage a breakout

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(adsbygoogle = window.adsbygoogle || []).push({}); After a volatile few days, indices have managed to stage a recovery with some indices doing better than others. The Nasdaq managed to return above support, while breaking resistance from what had been a ‘bull flag’. Volume eased back despite the gain; not a great association given the extent of today’s move higher. Play the resistance breakout, but we don’t want to see an undercut of 11,500 support. The S&P is trapped inside its prior trading range having dropped below breakout support. Today’s gain brought the index above its 200-day MA, but with the index back inside its prior consolidation it’s not exactly clear as to what can be expected next. The Russell 2000 had give up the most ground from… [Read More...]

Blog Post: Day 7 of $QQQ short term down-trend, likely to end Friday; 42 new US highs, 367 lows and 8 at ATHs; Two stocks I wrote about on Tuesday…

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IndicatorsGMI: 1/6GMI-2: 6/9T2108: 22%My Green Line Breakout (GLB) indicator is for me a great way to identify leading stocks. On a monthly chart I draw a horizontal green line on the top of the price bar that reached an all-time-high (ATH) that had not been surpassed for at least 3 months (3 bars). Think of it as a rocket that has climbed to a peak and then rested for at least 3 months. When the stock finally closes above the green line, a GLB, it can be the start of a major advance because the stock has overcome all of the selling by persons who had bought near the higher prior peak. I showed in my Trader Lion 2022 presentation that most of William O’Neil’s huge … [Read More...]

Using 52 Week High Scanner to Identify Mid Cap Stocks for Swing Trading

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Swing trading is a strategy that involves buying and selling stocks based on short-term changes in their prices over a few days or weeks. Traders aim to profit from both upswings and downswings in stock prices, with positions typically held for up to six days, or even a few weeks if profitable. In the stock… Read More » The post Using 52 Week High Scanner to Identify Mid Cap Stocks for Swing Trading appeared first on Bramesh's Technical Analysis. [Read More...]

Week Ahead – More turmoil to come?

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US A week ago, a lot of economists were thinking the Fed was going to pick up the pace of rate hikes as disinflation trends were struggling given a robust core services inflation reading and tight labor market conditions.  A banking crisis however is changing how policymakers are assessing the impact of the first eight rate hikes.  Fed expectations are all over the place with Nomura analysts calling for a rate cut, while most investors are between a hold or a final quarter-point rate rise.  How broader financial turmoil plays out leading to the FOMC decision could greatly influence how policymakers place their rate vote.  In addition to the FOMC decision, it will be a busy week of economic data releases.  On Tuesday, existing home sales … [Read More...]

The Flight to Safety

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FEEDI’ve got to say, I was wrong about crypto – – or, more specifically, wrong about Bitcoin and Ethereum. To be clear, I still think crypto is useless, but maybe we’ve found a very specific niche case where it excels: that is to say, a reliable safe haven for fixed assets (a digital gold, someRead More 0 Comments [Read More...]

Morning Post 03/17/2023 SPX

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Happy St Patrick’s Day! Good v evil On to the lie – Somewhat surprising to be back battling with 4k resistance. Then again, when everything is rigged… anyway, let’s not worry about a range bound and protected market, get your green on, grab some whiskey and enjoy the day! More to come below. Have a good day. GL and GB! [Read More...]

Hold the horses – buyers are back.

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(adsbygoogle = window.adsbygoogle || []).push({}); After two days of selling, markets stuck in a quick pause. It was a narrow range day, so not a whole lot to work with, but it was interesting to see where this buying occurred.For the Nasdaq, the buying was again at breakout support. Volume was well down on Friday’s distribution, so I wouldn’t be expecting any big bounce here, but it might be enough to keep losses from piling on. There was a new ‘sell’ trigger in On-Balance-Volume to add to the current ‘sell’ trigger in the MACD. However, stochastics remain on the bullish side of the fence. For now, the ‘bear trap’ remains in play. In the case of the S&P, the buying kicked… [Read More...]

Blog Post: Day 2 of $QQQ short term down-trend; 79 new US highs and 361 lows; in cash; $SPY is just below its 30 week average, very dangerous, see…

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IndicatorsGMI: 3/6GMI-2: 3/9T2108: 28%The 30 week average (red solid line) is now declining again. Stage 4 down-trend may be gaining steam, watch out. Break-outs are failing. I am in cash. T2108= 28%. When it goes below 10% I will be looking for a bottom. The post Blog Post: Day 2 of $QQQ short term down-trend; 79 new US highs and 361 lows; in cash; $SPY is just below its 30 week average, very dangerous, see weekly chart first appeared on Wishing Wealth Blog. [Read More...]

W D Gann And Its Application In Stock Market

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Introduction W.D. Gann was a famous trader and astrologer who lived in the early 20th century. He is known for his unique approach to technical analysis, which involved using a combination of astrology, geometry, and mathematics to predict market trends. In this article, we will explore the life and work of W.D. Gann, as well… Read More » The post W D Gann And Its Application In Stock Market appeared first on Bramesh's Technical Analysis. [Read More...]

Week Ahead – ECB Playing Catch-Up

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US The labor market is still strong but is showing signs it is ready to soften as wages cool.  Wall Street will pay close attention to the February inflation report.  Disinflation trends are struggling here and a hot report could not only lock the Fed into boosting their hiking pace but possibly lead markets into expecting a higher peak rate.  Headline inflation is expected to slow from 6.4% to 6.0%.  The monthly inflation rate is expected to edge lower from 0.5% to 0.4%, while the core reading is expected to hold steady at the 0.4% pace.  While the inflation report will get the majority of the attention, traders should also pay close attention to the February retail sales data which should show consumer spending is weakening.  Housing … [Read More...]

Bank Run In Silicon Valley

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FEEDSo Much For Effective Altruism ; In Frank Capra’s 1946 classic movie “It’s A Wonderful Life”, George Bailey quells a run on his bank by explaining to his depositors that their money is in the value of each other’s houses, and he convinces them to take just the money they need rather than pulling all ofRead More 0 Comments [Read More...]

Morning Post 03/10/2023 SPX

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Late. Sorry. At Southern office for the weekend with LS1 and friends for spring break and overslept. Good v evil On to the lie – Yesterday was quite the surprise – to me at least. That move was overdue and somewhat expected, but still surprising to a degree. More to come below. Have a good day. GL and GB! [Read More...]

Sellers are preventing a support bounce in lead indices

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(adsbygoogle = window.adsbygoogle || []).push({}); Since indices returned to breakout support after the early year surge I had thought we could have seen some form of bounce, but the longer markets linger at these levels, the less likely we will see a bounce. Today’s candlesticks across indices definitely leaned more on the bearish side, and if I had expectations, it would be for further losses tomorrow. While today’s action ranked as firmly bearish with a distribution day yesterday, it’s still managing to hold its 200-day MA. The index is outperforming peer indices, but it is losing ground to the S&P. The S&P has now come down to its 200-day MA with a confirmed distribution day. Technicals are also net bearish, but as this… [Read More...]

Blog Post: Day 4 of $QQQ short term down-trend; 129 new US highs, 181 lows; MACD histograms suggesting turn in GLD and UUP, see charts

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IndicatorsGMI: 4/6GMI-2: 3/9T2108: 46%The MACD histograms often show a change in trend before it is evident in the price. Look at how the histogram has been steadily rising as price declines=positive divergence. In contrast, the dollar, UUP, is showing a negative divergence. Gold rises as the dollar falls. Compare the two charts. As the value of the dollar declines, it takes more dollars to buy an ounce of gold. The post Blog Post: Day 4 of $QQQ short term down-trend; 129 new US highs, 181 lows; MACD histograms suggesting turn in GLD and UUP, see charts first appeared on Wishing Wealth Blog. [Read More...]

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