Weekly Stock Charts

Jonathan Parsons Rank: 42 Followers: 19 Votes: 9 Years Member: 14 Last Update: 20 July 2017, 20:02 Categories: Chart Patterns
Trend Analysis
Volume Analysis

June 24th 10P Update: What a week! Best trade for me was grabbing some 11c VRX calls posted publicly on TWTR (by SwatOptions). [As an aside, there's lots of folks on TWTR who are excellent option traders - much better than me - many share a ton of info for free. I'm trying to soak up their collective knowledge like a sponge). Anyway, I liked the set-up and it was in a hot sector (biotech). Sold half the next morning at 50c, slapped a GTC sell order at $1 and walked away. Boom! Filled at $1. Anytime I can get a near 10-bagger on my runner with near-zero effort and near-zero stress, I'm a happy camper. What else? I'm focusing on options + long-term 401k trades only now - no swing. The SPX and NDX summation index + IT Vol Momentum indexes are all blood red. The NDX rolled first and I expect it will be the 1st to recover, but for now....no swings for me. What else? The $SPX went inside on the week. Trend is up, so I expect we bust up but better to wait + see. We usually don't see 2 inside weeks in a row, so at the very least I would expect more vol - not less. For next week, I'm watching the banks (stress test results + returning $$$ to shareholders?), steel news (232 findings + Trump executive order?), + MU earnings (tons of call flow, also watch WDC for sympathy plays). What else? Most of the action is in health care + tech.....not retail + energy. Stick with what's working until it stops. Good luck out there!


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$ Bullish Stock Screen Results

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$ SPX4 - SPX-specific McClellan Summation Index

$ SPX5 - $TICK - 15 min


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