Weekly Stock Charts [Box Theory]

Jonathan Parsons Rank: 88 Followers: 8 Votes: 3 Years Member: 11 Last Update: 22 November 2014, 6:57 Categories: Chart Patterns
Trend Analysis
Volume Analysis

Nov 22nd 6:30A Update: Big exhaustion gap up & fade on Friday. I'm still waiting for confirmation before going heavy on the short side. Specifically, I want to see the S&P close <7d sma with volume and then break that low the next day. That's not so hard to do if the market wants to go down. Until then, I'm defining the trend as 'up'. Remember, it's a holiday week next week which tends to have a positive bias. Although expect trading to thin out during the week and sometimes that thinning can lead to volatility. I believe the market is closed on Thanksgiving & only open until 1P on Friday. OK, so what's working? On the long side, I'm watching for dips in bonds (TLT), dips in emerging markets (EEM, VWO, INDY, DEM, EWZ), dips in gold/silver miners (GDXJ, SIL), dips in energy (XLE, XOP, XES), and probably a few more that I'm forgetting. On the short side, there's really not much to do until markets close below the 7d again. Good luck all. Nov 15th 11A Update: What a move, but what now? I think most of the indexes are ripe for a correction, but there's definitely some opportunities still around (long & short). Most indexes are still in an uptrend despite divergences. Wait for price to confirm before taking a shot on the short side. On the long side, watch for set-up in TLT, URA, GDX, GDXJ, GLD, SLV, SIL, SMH, and probably a few more that I'm forgetting. On the short side, watch for set-ups in IYR (SRS), IBB (BIS), IWM (TZA), XLF (FAZ), and probably a few more there, too. Good luck all.

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