Today we look at the patterns that are showing up and what to expect into next week. I reveal my larger positions and the hedges that are placed in for next week. A potential downside of 3% or more remains as we try to aim for the support levels of the megaphone and wedge formations. I also look at the XLF, SPY, Dow Jones, GLD, AXP and AMZN.
Duration : 0:5:1
Today we look at various stocks to see more justficiation that we could be topping in the markets. We look at today’s action on the SPY, and how we made a newer low and then consolidated for most of the day only to find more selling pressure at the end of the day. Tomorrow can be another push lower simply because the market wants to form a H&S formation, and the head needs to completely form (i.e. move to 978-980 level on the SPX), before the right shoulder can form. That said, one day of consolidation is not out of the question yet. Overall, you can’t be fully bearish until the market breaks the wedge support found around the 960 level but ascending. Today we took profits on most of our shorts including JPM, as we see a possible push higher on some of the stocks as they form their respective H&S. We look at GLD, which we got stopped out of, since it broke it’s triangle formation to the upside and that might be another sign of fear entering the market. If GLD was an inflation hedge, the market would have been up when GLD was up, but it’s down. We also look athe XLF, STEC, RIMM and AAPL.
Duration : 0:5:2
http://trade-technicals.blogspot.com
Sources used in this video
Disney Earnings MSM story
http://finance.yahoo.com/news/Earnings-reports-push-stocks-apf-3791949710.html?x=0&sec=topStories&pos=main&asset=&ccode=
Consumer Sentiment Lower Story
http://finance.yahoo.com/news/Consumer-sentiment-falls-in-rb-1076974694.html?x=0&sec=topStories&pos=1&asset=&ccode=
DISNEY PHOTOS from
http://commons.wikimedia.org
P/E RATIO chart of the day
http://www.ritholtz.com/blog/2009/08/chart-of-the-day-sp500-pe-ratio/
Duration : 0:7:43
Today we look at the SPY chart longer term, and talk about the fact that the market is showing similar signs to the action we saw 2 weeks ago, only one big thing has changed: The financials continue to underperform the market. Even though today was a commodity based rally due to weakness in the dollar, we believe that tomorrow will be the day that will decide wether this market is able to make new highs or if it’s going to go back lower to play the lower end of the wedge formation. We also talk about the JPM trade that we have on, and look at the financials XLF ETF that is forming a H&S.
Duration : 0:5:1
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I’m sorry I forgot to show the key levels on the intraday spy 15 min chart that you should watch for the morning session. I also forgot to show you guys how the daily channels were setting up on the SPX. I will have these two pictures posted on the blog site @ askchrishetrades.blogspot.com. One thing I want to bring to you traders attention, is that we held above the 50% like of the downward channel. We are still above the fast line from the push we got the other day. So either way we are at a key area tomorrow for a push higher or a definite break back to the lower channel. That key level to watch is exactly where we closed at so you can expect a gap up or gap down in the morning and a good movement from there. If we break that level I say 1045 Mondays low is the next support level. Enjoy!!
Duration : 0:10:55
Today we looked at the strong rally on high volume and what it meant for the markets moving forward. I added a lot to my shorts in preparation for a continuation of the sell side as the market failed to stay above the channel support. With that in mind, i show the H&S formation that have been forming on the markets, and the neckline levels that need to be breached in order for us to see more downside. I have September puts on BEN, GLD (gold), XLF and SPY. My stops are placed in comparison to the SPY 101.65 level.
Duration : 0:5:1
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Duration : 0:0:32
Today we look at the damage that the bears have caused the market. Just like i mentioned in my last video, if the data today breaks stocks, there will be no bounce since all the bulls are trapped. The bears not only got to drag the bulls but broke important levels such as the 1035-1040 levels. I expect the market to possibly retest these levels (as high as 1042) in the days to come, and if these levels hold as resistance, we might break to the downside. Tomorrow we have Jobless claims fo the months of september and that will be a market mover for sure, though we do have more room for the downside. The next support level is between 1014-1018, and is also the infamous wedge support that we have been looking at for a while now. A break of that support would mean a new trend lower. If the bears do confirm another day below the 1035-1040, I will become a lot more bearish biased, in general. Volume today was stronger than most days, and therefore it’s significant! I also look at the VIX and show how it broke 27-28 levels, though i would like to see it break 30 before i become a true bear. I look at the USO and talk about the intraday trader there and te significance of the USO not breaking back into the triangle formation we had showed yesterday (despite talks on IRAN). In the other video I also talk about UUP, AAPL, AMZN, WYNN, LVS, FAZ, TZA, SRS, BIDU and SBUX very quickly.
Duration : 0:5:1
Hey guys,
Today my friend traders and I tried to review the charts from scratch and see if the same patterns emerged, and we continue to think that we are on the right track. The S&P futures bounced off of the channel support early in the morning, as bad news from BAC and C kept the market down all night. The cash index almost tested the support yet again, and then rallied strongly only to lose momentum before strong resistance was hit. I told people to take off some of their positions at the open, no matter if they were losing or profiting positions. I took some off myself, only to put more SPY puts on later at 86.30$. The weakness in the rally today on great news from consumer confidence could be what the bears needed to tip the iceberg. There is a potential for a gap lower below the S&P channel in futures trading, and a retest of the support as resistance when the cash indexes open to confirm a head and shoulders on the 60 minute S&P charts. Once the support breaks (it should next time, after it was tested 3 times in less than a week) the sellers should finally pile in, and we should be on the road to 7540 on the Dow Jones. In this video I also focus on SPY,GS, XLF, SRS, $TNX, $VIX,
Duration : 0:8:8
Hey guys,
I just wanted to give you a break down of a few stocks and what i think of them individually. We look at the dow jones, the qqqqs, jpm, xlf and aapl here.
Duration : 0:5:1