Weekly Stock Charts

Jonathan Parsons Rank: 68 Followers: 13 Votes: 1 Years Member: 12 Last Update: 4 October 2015, 10:18 Categories: Chart Patterns
Trend Analysis
Volume Analysis

Oct 1st 8:35A Update: In my little world, the big news of the day is that the Monthly $SPX chart finally confirmed what the Weekly has been forecasting.....we're in a bear mode now. I'm still treating this as a correction (similar to Aug 2011). In this case, the monthly chart will be slow to react, but the weekly will still be useful. Anyway, bear market rules now apply: longs are short-term rentals & it's open season on shorts. Cash is a solid option, as well. (I'm heavy in cash). Additionally, there's lots of volatility out there as we lurch from euphoria to disappointment over every silly China headline or talking Fed head ramblings (hint: the dovish Fed members say dovish stuff; the hawkish Fed members say hawkish stuff.) OK, what's working? Even some of the stronger ETFs look weak to me (KRE, XLY, TLT). Some individual names look better: consumer discretionary (SBUX, HRB), utilities (PEG, EIX, ES), tech (ADBE, BRCM, EA, CDW, SINA), and airlines (HA, JBLU, ALK). On the short side, it's still EM (EDZ) & energy (ERY, SCO)....and now we can add biotech to the list (BIS) - although all 3 groups had vicious short-covering rallies on Thursday. Use stops & scale quickly to control risk.....or just keep lots of cash on hand & then sit on your hands. Good luck out there.



$ Bullish Stock Screen Results

$ SPX0 - Monthly Overview

$ SPX1 - Weekly

$ SPX2 - !ITVMNYC - Daily Heikin-Ashi, 900

$ SPX3 - $TICK - Daily Cumulative, 900

$ SPX4 - Equal-Weight - Daily

$ SPX5 - SPY - Daily OHLC Bars (thick), 900

$ SPX6 - 10 min

$ XIV - 10 min

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