Weekly Stock Charts

Jonathan Parsons Rank: 47 Followers: 19 Votes: 9 Years Member: 13 Last Update: 21 March 2017, 9:26 Categories: Chart Patterns
Trend Analysis
Volume Analysis

March 20th 2017 1:30P Update: Another tricky week. You can see it in the scan results as both bull + bear stocks increased. This is a mixed market where you can make money long + short. The indexes themselves are grinding higher. There is momentum in pockets, but you need to be in the right stuff at the right time and not be too greedy. I've been using more weekly options lately to control risk. My stop is my entry; either they work or they don't. I had a mix of calls + puts last week ABX calls, ADBE calls, VXX puts, SNAP puts - all paid. I also had some PBR and WLL puts which although temporarily profitable....expired worthless. I'm trying to do the same this week and keep up the win:loss ratio while controlling risk. There are some chart patterns that make me a bit nervous here. For example, the Q's and Bio's. Both tried to go inside & up on the weekly, failed, and stalled. If we come back thru the other side (down), there will be a wall of sell orders getting hit as stops will be just below the previous weekly lows. (At least, that's how it's worked in the past.) So, that's the risk - big avalanche down + FAST. The upside is probably more of the same - slow grind higher. There are pockets of strength in semis: AMD + MU (i'm long both). Gambling was strong last week and early today (Monday): WYNN and LVS (I'm long LVS). Bonds are ticking up a little - just bought some today. Financials are hanging in there by a thread. So, overall, there are things to do but it's not like it was right after the election. Good luck out there!


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$ Bullish Stock Screen Results

$ SPX1 - Monthly

$ SPX2 - Weekly SPY

$ SPX4 - IT Volume Momentum Oscillator

$ SPX5 - Participation & %UP/DN Volume

$ SPX6 - SPY:VXX - 15 min

$ SPX7 - $TICK - 15 min

$ SPX8 - $VIX:$VXV

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