Weekly Stock Charts

Jonathan Parsons Rank: 48 Followers: 18 Votes: 3 Years Member: 13 Last Update: 25 October 2016, 12:38 Categories: Chart Patterns
Trend Analysis
Volume Analysis

Oct 24th 9:30A Update: Last week was a bit better. We stayed inside most of the week and some longs actually worked quite well (ex. XIV, FDN, KRE, KBE). The only trick was that you had to be in the right stuff. For example, inside the Q's....internet stocks were working, but semi's and bio's - not so much. It pays to monitor and search out relative strength. But that's all in the past. What's next? For this week, we had alot of stuff go inside week (SPY, QQQ, KRE, IYT, TLT, etc.) - watch for the break. On the downside, we had small caps that were too weak to stay inside...semi's + bio's also remain weak. On the upside, we have banks + internet stocks pushing highs. So, the battle lines are drawn....can banks + internet stocks + merger news drag this entire market up? I'm not so sure. We need more leadership - hopefully we can get some of these inside bars to break to the upside which would help immensely. For my part, I'm looking for minor dips to buy in ETFs with strong uptrends (like the 4 listed above plus DXJ and HEDJ). Good luck out there! Oct 17th 9:40A Update: Another tricky week last week. I was leaning long based on the strength in fins, tech, energy and transports.....and that proved to be the wrong way to lean. Got stopped on a bunch of positions. I did play short via TZA also caught a quick short in JDST and DUST to make up a bit. Overall, it wasn't a great week for me. So, what's next? We have a very mixed market with a bearish tilt. The market appears to be pricing in several data points: currency oscillations (weak british pound, stronger dollar), Clinton victory (weakness in bios, RS in transports and Mexico), bond weakness, and geo-political uncertainty. So for this week, watch the inside weekly bar in GLD (to play long/short), continued weakness in bios + small caps, see in bonds catch a bid or continue lower, strength in utes + reits (indicates rotation - not wholesale selling), and last (but not least!) dollar strength. Good luck out there!



$ Bullish Stock Screen Results

$ SPX1 - Monthly

$ SPX2 - Weekly SPY

$ SPX4 - IT Volume Momentum Oscillator

$ SPX5 - Participation & %UP/DN Volume

$ SPX6 - BPSPX - 30 min

$ SPX7 - $TICK - 30 min Cumulative

$ SPX8 - XIV 15 min

$ SPX9 - SPY 15 min

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