MAY 13 – On The Watch

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Another week has passed by and many of the recent trade set ups like MACK, NAK, VSTM, NATGAS, etc  mentioned are enjoying their following through.  We also remain on the watch for that next big set up in Precious Metals.  let's take a look...

 

SPX WEEKLY - Timing wise, the markets are due for a dip down, That doesn't end the bull, you can see these are normal dips to ICLs along the way.  The MACD gives this more of a double top look too.

The NASDAQ ( QQQ here)  has been very strong and earnings season hasn't stumbled it either.

Look at this view and you'll see that it looks very similar to the Parabolic blow off top in 2000.  This ending is not out of the question.  Let' s just take a closer look at that time period.

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May 12th – It’s a Beauty

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That sunset sure is a beauty, and this chart below is also a  beauty to many of us that went long...

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May 11 – Trading

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NASDAQ -  The NASDAQ continues to climb that wall of worry. If you were long, a trailing stop may work out well, this is now another right translated daily cycle in a Bull Market.  As shown in recent reports, Some stocks are doing well with earnings, and others are getting crushed. Add NVDA & TSEM  to the 'doing well' group. Yelp & SNAP to the getting slapped group.

This is a reminder -  This was my My February thought showing a possible parabolic blow off top . The pattern is similar with a sharp sell off and then a ramp higher.

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