My Trading Journal for the DJIA Today: Nasdaq still doesn't look so bad, Russell index does look pretty rough, the S&P 500 is giving up all of Wednesday's market rally, but the DJIA today managed to hold that 10-day moving average with a three day pullback that was quite shallow in nature. If it holds tomorrow,
Tesla Stock Analysis: The Technical Picture Tesla (TSLA) reported earnings last night and while it was received well initially, the Tesla stock price today is getting hammered as traders woke up to a totally different situation this morning. Tesla shares sold off by by the biggest amount that we have seen since the massive
Technical Outlook: S&P 500 (SPX) continued its sell-off yesterday for the seventh straight day, and the nineth time in the last ten days. More importantly, SPX broke key psychological support at 2100 yesterday. Considering SPX is down seven straight days, it is extremely light that the market is only down -2.5% during that time. Considering the
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Technical Outlook: Major reversal on Friday’s price action when the market went from being firmly in the green, to instantly into negative territory on news that Hillary Clinton’s email investigation was being re-opened. This creates some fresh volatility for the market as it had seemed, until Friday’s news, that it was comfortable just remaining dormant
4/21: Crude hitting major resistance on the chart. Since I don't trade futures in the Splash Zone, I have elected to short USO instead. There is plenty of long-term resistance overhead on the price of crude, which I will provide a chart for.
Check out the chart below to see what I am watching on the USO play. Some good developments unfolding for the bulls, but still remains on shaky ground until it can prove itself. Here’s the technical analysis on USO:
A small gap and then a big intraday move Today’s market scenario that I want to discuss is one that you’ve probably heard me warn about in the past in either various posts or in our chat room, but nonetheless, they end up usually being some of the worst trading sessions for the bulls, mainly