Weekly Stock Charts

Jonathan Parsons Rank: 52 Followers: 18 Votes: 5 Years Member: 13 Last Update: 24 September 2016, 7:54 Categories: Chart Patterns
Trend Analysis
Volume Analysis

Sept 19th 10:30A Update: OK, last week felt choppy but we were really just moving around inside Monday's wide range. In other words, most of the week was a big inside bar. I took some extreme oversold readings in my cumulative $TICK chart (<-200) long. Sold the 1st round of XIV on the bounce on Tuesday. And kept the 2nd round of XIV over the weekend. Scaled half at 34.77 and raised my stop all the way up to 34.77 (will likely get stopped on the 2nd half, but so far still in it. I'll sell R3 pivot if we hit it). I also played XLK and SMH. XBI would have been better, but I missed it. Oh well, can't catch them all. Strength in Q's, XLK, SMH, and XBI suggests more rotation than a cascade of selling. All eyes will be on Central Banks (US & Japan) this week. Watch UUP & TLT for some signals after the releases hit. As far as this week goes, I'm planning on buying extreme oversold readings if we get them again. If a new uptrend resumes, I'll switch gears and be back to buying minor dips. Markets seem a bit unstable right now, so quick flips are still the rule for me. Good luck out there! Sept 9th 8P Update: So, I guess many people are asking themselves: what happened?? Here's my 2 cents: short holiday week with many big traders on vacation with lighter volume (until Friday). Then, you get hit with N. Korea news and a Fed head talking noise. (Here's the secret decoder ring for Fed speak: the hawkish ones say hawkish stuff; the dovish ones says dovish stuff. Just look up who is speaking and you can guess the content beforehand). Anyway, we gap down and hit stops as we break the tight range and then the robots + sell programs take over and that was all she wrote. The better question is what's next? Most likely is more downside follow-through on Monday, followed by a bounce attempt. Watch the strength of the bounce. If it's weak or fades early, then get ready for another leg down. My smoothed $TICK indicator is at -200 which *usually* doesn't last long. Too many se

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$ SPX4 - IT Volume Momentum Oscillator

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$ SPX6 - $BPSPX - 10 min

$ SPX6 - $TICK - 10 min Cumulative

$ SPX7 - 10 min

$ SPX8 - XIV 10 min

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