Bounce in Oil?
Hi Shoppers, Wow! Nice rally. But while the stock market has been trading higher, the March Crude Oil Futures have been trading lower: I have a short-term support line, which the futures are now testing. I will be watching closely this morning along with another oil chart. Oil!The other chart I will be watching is […]
Freaked Out by the Fed?
Hi Shoppers, I am hearing Griff is bullish on several things. Technology: here is the Technology Select Sector (Ticker: XLK) chart: See what I see? I know you do. This is a possible cup and handle formation. XLK is in the consolidation period and needs to close above that red resistance line at $137.20. This […]
Time for a Pause?
Hi Shoppers, If you’ve been reading Profits in Pumps, you know I have been writing about the cup and handle formation since January 15th. We are now right at the top of the cup, where the resistance level is and causes a pullback or consolidation period. That resistance level in the S&P 500 (TIcker: SPX) […]
Be Your Own Governor
Hi Shoppers, James Madison said, “Knowledge will forever govern ignorance: And a people who mean to be their own Governors, must arm themselves with the power which knowledge gives.” As traders we are our own Governors, right? Working for ourselves. No one was breathing over our shoulder. Relying on ourselves for discipline, […]
Not to Brag, But … [Profits in Pumps]
Hi Shoppers, I can’t stand it! I am about ready to burst. It just amazes me how technical analysis and chart reading (same thing) can work so well. I wrote this night of January 17th for the new Pit Report: “If MSFT can close above $241, I think it can rally to $255.50, which has […]
It Happened!
Hi Shoppers, The cup-and-handle formation in Bitcoin (TIcker: BTCUSD) is coming to fruition. BTCUSD has traded over $21,550 and busted out trading up to $23,300. To find the short term target price from here, you take the distance from the high and low of the handle formation. In this case that is $1,280. Add that […]
Another Cup & Handle!
Hi Shoppers, Remember the cup and handle formation I have been talking about that is forming in the major indexes? Well, I am also seeing it created in Bitcoin (Ticker: BTCUSD). Regular Profits in Pumps readers know I look at BTC as something of a gauge of the overall market sentiment. I know it is […]
Do You Know Volatility?
Hi Shoppers, Cleveland Cliffs (Ticker: CLF) has had a really nice rally, trading up 82% since Nov. 3. That’s huge! I think there may be what looks like a beautiful doji at the top of this uptrend created yesterday: I will be looking for CLF to trade lower this morning. If it does for at […]
A Cup and Handle Forming?
Hi Shoppers, Here are the other two major index charts showing the signs of a possible cup and handle formation. Invesco QQQ Trust (Ticker: QQQ): IShares Russell 2000 Index (Ticker: IWM): IWM has been leading the market lately and looks to have completed the cup formation. This is the one to watch for that […]
Have You Been Paying Attention?
Hi Shoppers, We may be due for a pull back here. The S&P 500 (Ticker: SPX) and SPDR S&P 500 (Ticker: SPY) traded up and over the 200 day moving average yesterday, but just couldn’t manage to close over it. Remember, the close on the chart is much more important than the intraday prices. The […]