Weekly Stock Charts

Jonathan Parsons Rank: 58 Followers: 16 Votes: 0 Years Member: 13 Last Update: 25 April 2016, 11:34 Categories: Chart Patterns
Trend Analysis
Volume Analysis

Apr 25th 9:15A Update: OK, we got some slight higher highs out there. But here's the key question....after 11 weeks without a lower low....can we make it 12 weeks? That's the implicit bet that you're making by getting long here. For me, it's much harder than it was when IT Vol Mom Osc was at -200. Everything was going up on that run to +200. Now we have a mixed market. Small caps are rocking with the Q's got rocked! Very short-term, the 10min charts are still bullish. On the longer-term time frames we are setting up for divergences in the IT Vol Mom Osc and the $SPXA50R. Eventually, those divergences will matter. They always do. The question is one of timing and specific sectors. For my own trading, I'm heavy in cash and looking to get heavier, I have a few small shorts on, and I'm looking to sell remaining longs. I will get more short if the 10 min charts flip over. Good luck out there! Apr 17th 7:05 Update: In general, things have become much harder (at least for me). You can see that in my hit rate. My 2 high probability outcomes from last week failed to materialize. I think I'm early (Wall St. speak for 'wrong'). Gold miners did well until mid-week - that part was good. And I think raising cash is still a good idea - that part was good, too. Oh well, can't win them all. Here's what I'm looking at (big picture).....you've got small white bars on the IT Vol Mom Oscillator (that usually points to a high that fails), you've got a potential bearish divergence in the $SPXA50R (same as last Nov/Dec), and you've got the markets running into all kinds of resistance from the old highs - all of which is bearish. Short-term, we have volatility collapsing (usually bullish for markets), the 10 min $BPSPX chart went bullish again (although weak), and the indexes are pushing new highs. Put it all together and what do you get? I think we're looking at marginal higher highs in the indexes with bearish divergences everywhere followed by a break lower. Does the break



$ Bullish Stock Screen Results

$ SPX1 - Monthly

$ SPX2 - Weekly SPY

$ SPX3 - SPX McClellan Oscillator

$ SPX4 - IT Volume Momentum Oscillator

$ SPX5 - Participation & %UP/DN Volume

$ SPX6 - 10 min OHLC Bars (thick), 900

$ SPX7 - 10 min Elder Impulse System, 900

$ SPX8 - XIV 10 min

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