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Gold and precious metals in general have been a darling of the market so far this year, and I’m sure by writing this post, I’ll get some angry tweets, and messages as a result. But hey, I am here to read and follow the charts, not make people feel good about their existing long positions.
Choppy trading session as the bulls nor the bears are holding on to any king trading edge here. This is in large part due to the suspense that the Brexit vote has the market in. Odds seem to point at them staying, however polls today show the “leave” vote evening up the score. Where do
Technical Outlook: Yesterday’s rally resulted in a blip on the radar. Very unimpressive, in that it gave up nearly 60% of the day’s gains by the close of the day. 2100 was as high as the SPX could get and is where the immediate selling took place at. Even 2085, which was quite a surprise
Join the SharePlanner Splash Zone and see for yourself what a membership can do for your portfolio by signing up for a Free 7-Day Trial. With your membership, you will get each and every trade that I make with real-time text and email alerts (international too) as well as access to my chat-room that I trade in each
Retail is dead if you aren’t Walmart (WMT) or Amazon (AMZN) but a chart pattern is a chart pattern and what you have on Tiffany (TIF) is a gorgeous triple bottom with just the right amount of sparkle to it. The $60 level seems to have insane amounts of support there, because every
Rare do you find such an unenthusiastic rally, but that is what we have here today. The bulls goosed the markets overnight to ungodly pre-market highs, but since the initial burst at the open, it has done nothing but put in lower-highs and lower-lows on the five minute chart. There is a part of me
Technical Outlook: SPX failed to provide the necessary follow through Friday, giving up 7 points to the downside. 50-day moving average remains an issue for stocks. The market is looking at a massive gap higher this morning – the likes of which is rarely seen. SPX is looking to go from its 2071 closing price
Join the SharePlanner Splash Zone and see for yourself what a membership can do for your portfolio by signing up for a Free 7-Day Trial. With your membership, you will get each and every trade that I make with real-time text and email alerts (international too) as well as access to my chat-room that I trade in each
Technical Outlook: Yesterday marked a hard sell-off in the early going as the bulls were dumping their stocks as fast as they could, but then, after the first 30 minutes of trading, a base was established, and the market bounced throughout the remainder of the day. SPX took a 21 point sell-off early on and