My 8 Rules for Trading
Hi Shoppers, You’ve heard of the 12 Days of Christmas … Well, get ready for my 8 Rules of Trading. Print them out. Tape them to your wall. Post them somewhere you can see them every trading day. Check them out below. 1. Stick to your trade plan. […]
We Closed the Gap!
Hi Shoppers, I am seeing possible dojis created yesterday in the major indexes which could be signaling a change in this downtrend. Here is the SPDR S&P 500 (Ticker: SPY) chart: In the Invesco QQQ Trust (Ticker: QQQ) there is a doji along with a support level: The Ishares Russell 2000 (Ticker: IWM) is not […]
Happy Times
Hi Shoppers, Check out the possible doji in Bank of America (Ticker: BAC): After trading a high of $37.85 on November 30th, BAC traded a low of $31.35 on Friday and took out the low of Thursday closing right near the opening price. I will wait for confirmation this morning of BAC trading higher. Once […]
Where Do We Go From Here?
Hi Shoppers, According to my charts, the SPY, QQQ and IWM have all violated a support level and closed below it. Remember, the closing price is more important than the intraday highs and lows. So let’s take a look. For SPDR S&P 500 (Ticker: SPY) my support level is right there at that nice […]
A Chart Examination
Hi Shoppers, On Monday, I pointed out a bearish engulfing candlestick formation on the Abbvie (Ticker: ABBV) chart. And it was a beautiful example of that indicator. I thought it was going to be a huge winner. All I needed was for ABBV to trade lower. But guess what … it didn’t pan out. That’s […]
A Bearish Engulfing Candle
Hi Shoppers, Friday’s trade action has created a bearish engulfing candlestick in Abbvie (Ticker: ABBV): ABBV has had a tremendous rally since October 13th trading from a low of $136.37 up to a high on Friday of $149.55. That is over 9.5%. Friday’s bearish engulfing candle is formed at the top of this rally, created […]
A Santa Claus Rally?
Hi Shoppers, I am thinking all these dojis in the major indexes are pointing to a possible rally this morning. To take advantage of this, I like the ProShares UltraPro Short S&P 500 (Ticker: SPXU): Wednesday’s doji may be an indication of SPXU to trade lower. Looking at next week’s puts: Be sure SPXU […]
A Big Decision
Hi Shoppers, Wells Fargo (Ticker: WFC) has an interesting chart. It has come down hard and fast and could be ready for a bounce: Yesterday’s action created a hammer which could be a signal of a reversal of this big four day selloff of over five bucks. It also closed that gap created back on […]
Songbird
Hi Shoppers, I am seeing a possible hanging man candle in CVS Health Corp (Ticker: CVS) which could be indicating a change in that upward trend: There is also a double top. Watch for CVS to stay below yesterday’s close before hopping in on the downside. It could pull back to the 200-day moving average […]
Doji Doji Panic
Hi Shoppers, Looks like a doji formed yesterday in Las Vegas Sands (Ticker: LVS): LVS also looks to have a double top formation which can signal a reversal in trend. The stock has had a nice rally since October 24th when it traded a low of $33.38. If the stock opens and trades lower today, […]