Tag: technical analysisSort
Prepare for tomorrow, because there are only two options:
#1 - We form a double-bottom right off the 900 level, despite the terrible Employment Situation report and we head up to at least 20-day MA resistance. The VIX fails the 20-day MA resistance and falls back towards the 50-day MA.
Well, I was in majority cash yesterday so I didn't feel the bite. I'm ready to go long again once we hit the 20-day SMA. Any break from that level, then it's 100% short for me. We gapped down today, but it was only -100 pts on the Dow, initially, and the fact that we weren't able to fill the gap in the first 30 mins was a big warning sign.
Banked 10.6% on HDSN : Technical Analysis Day Trade Review
Equity Markets: Technical Update (Election Edition)
We gapped up huge today and we just drifted throughout the day. The market started to show weakness as the VIX rebounded off of the 50-day MA. That came as a surprised because I didn't think we would breakdown that fast. At 3:30PM, we see that the market re-entered into consolidation after a brief breakdown. The S&P 500 is now above 1,000. There is resistance at approx. 1008-1010.
We're still in consolidation and formed a doji day on all indices and many sectors. It's not necessarily bullish or bearish. It signals that the market is taking a breather. The 20-day MA remains as sufficient support and most stocks have not broken down and closed below that level. The VIX has followed through with the breakdown below it's 20-day MA.
Technical Analysis Day Trading Review: Boo Yah! Banked on ABK +7% and SSCC +5%
Another consistant day of day trading for us here at ttt.net. We went 2 for 3 on our trades today with 2 awesome trades on ABK and SSCC, and took a small loss on DRYS early in the morning on a false breakout. Black Service members banked on these stocks today as well with my [...]
Equity Markets: Technical Update (Halloween Edition)
So, despite the negative economic news, we still gapped up significantly but sold off immediately ("sell the news"). Then we drifted down and hit support at 940 (SPX) at the gap's opening, then gave off a reactionary rally, and finally dropped down to yesterday's close (aka the highly-reliable WTF patttern).
We've been trading in a typical range day that occurs on most FOMC days. The most interesting aspect of the day was the last 5 minutes of the day. There's speculation that it may have been GE CEO Jeffrey Immelt's comments from Spain or HF program selling. In either case, it broke the market's support for today. I didn't trade today, but I can't imagine trading on a day like today.