IWM to $182
BY LICIA LESLIE November 19, 2023 Hi Shoppers, IShares Russell 2000 Index (Ticker: IWM) has bounced off the downward sloping trendline that it has broken out of: I believe it is on its way back to the 200 day moving average at $182 (turquoise line). I am looking at the calls expiring Wednesday […]
SPY to $453
BY LICIA LESLIE November 17, 2023 Hi Shoppers, I am thinking the SPDR S&P 500 (Ticker: SPY) gapped up on Tuesday and has been hanging out in this area the last two days. It could be gearing up for that next leg higher to $453.50: If SPY opens and trades higher I will […]
Head and Shoulders Bottom in IWM
BY LICIA LESLIE November 15, 2023 That was a face ripper, right? S&P 500 (Ticker: SPX) gapped open 47 points and never looked back. The high was $4508, up 97 points! Check out this bottom forming pattern in the Emini Russell 2000 Index: See that? It is a head shoulders pattern signaling the bottom of […]
Back on Track to $4500
BY LICIA LESLIE November 12, 2023 Hi Shoppers, On Wednesday I talked about the runaway gaps in the S&P 500 , how that was a bullish signal, and that we are heading to $4500. Then on Thursday we had a terrible bond auction sparking an ugly selloff which looked like it was the beginning […]
RCL Bearish Engulfing
BY LICIA LESLIE November 8, 2023 Hi Shoppers, Royal Caribbean Cruises (Ticker: RCL) has rallied half way back from its selloff: Yesterday’s action has created a bearish engulfing candle which could be signaling an end to this rally. Looks like RCL can pull back to $90 and possibly $85. Let’s shop for […]
S&P Higher & Crude Lower
BY LICIA LESLIE November 8, 2023 Hi Shoppers, Looks to me like the market is pausing for its next leg higher: Here is the chart of the Emini S&P 500 Dec Futures Contract: I think ES is on its way to $4500. Did you see oil? Here is the chart of the […]
Old Resistance = New Support
BY LICIA LESLIE November 5, 2023 Hi Shoppers, Medtronic (Ticker: MDT) has had a nice little run higher. Friday it closed just over the 21 day moving average but … look at the candle it created: It could be a doji which may be signaling a change in this little uptrend. Or it may not. […]
CVNA Revs Up
BY LICIA LESLIE November 3, 2023 Hey Shoppers, The market is loving Carvana’s (Ticker: CVNA) earnings report. Check out the chart: It has traded down to the lowest support level of my pitchfork and formed a hammer on Wednesday. A hammer can be found at the bottom of a down trend and may be signaling […]
AA Busting Out
BY LICIA LESLIE November 1, 2023 Hi Shoppers, Alcoa Corporation (Ticker: AA) is on a breakout: Looks to me like it is ready to trade up to $28. I like the Nov10 25.50 calls: Right around a dollar. Be sure to look for a higher opening and use a close below $24.40 […]
JPM Breaks Support
BY LICIA LESLIE October 29, 2023 Hi Shoppers, JP Morgan (Ticker: JPM) looked pretty ugly, along with the rest of the market, on Friday. Apparently, Jamie Dimon is selling a million shares. It closed well below the median support line (red line) on my pitchfork: The next support level comes in at […]