Weekly Stock Charts

Jonathan Parsons Rank: 60 Followers: 15 Votes: 1 Years Member: 12 Last Update: 29 November 2015, 13:59 Categories: Chart Patterns
Trend Analysis
Volume Analysis

Nov 23rd 7A Update: We got the >80% UP volume reversal day on Monday and then the rest of the week was a stair step climb higher on the backs of trapped bears and under-invested bulls. Now we're pushing back into the highs on what is a typically bullish holiday week (except Monday tends to be weak). So what's working? There's relatively few strong bull stocks, so that makes it easier to find winners. The SCTR ranking are helpful here with a volume filter. Internet stocks (FDN) keep rocking, select consumer discretionary names (ex. NKE & ROST - but not M), select tech, select regional banks, maybe refiners & airlines, too. What's not working? Commodities and any commodity-related names (oil, nat gas, energy, gold, silver, miners, etc). Good luck out there! Nov 14th 8:37A Update: OK, we blew past some support areas. Frankly, I wasn't expecting such a violent rejection at resistance. The market is always full of surprises. Now we're sitting on $SPX 2020 support. If that goes, look out below. I'm still waiting on a >80% up day to signal the end to this decline. My scan engine will also turn out a large number of long ideas when we turn. (Right now, the long scan ideas are slim to none.) So, there's not much to do on the long side. The short side is much harder because we can get these absolutely ripping short-covering rallies at any time (which usually coincides with a >80% up day). Markets also move much faster on the downside (elevator down, staircase up) which makes it harder to trade. I missed a few short ideas this week because they moved too fast for me to catch. That's OK - I'm happy with a large cash position. When we turn (might be a while), watch internet stocks (FDN) and the Q's (QQQ), regional banks + brokers (KRE, IAI), and maybe even consumer discretionary (XLY). IF you choose to play short, watch energy (ERY), emerging markets (EDZ), real estate (DRV), small caps (TZA), and financials (FAZ). Good luck out there!



$ Bullish Stock Screen Results

$ SPX0 - Monthly Overview

$ SPX1 - Weekly

$ SPX2 - $SPXA50R


$ SPX4 - $TICK - Daily Cumulative, 900

$ SPX5 - Participation & %UP/DN Volume

$ SPX6 - 10 min

$ XIV - 10 min

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