Weekly Stock Charts

Jonathan Parsons Rank: 57 Followers: 17 Votes: 1 Years Member: 13 Last Update: 27 August 2016, 7:15 Categories: Chart Patterns
Trend Analysis
Volume Analysis

Aug 27th 10AM Update: What a week with a big red outside bar! Actually, most of the action was on Friday. Got stopped on a few longs including XIV, IYR, XLP, FCG, etc - some flat, some minor losses, + some minor gains. The Energy trade fizzled out this week with an inside bar in USO and XLE, so I mostly left it alone (except for FCG). What worked for me this week was shorts mid-week via DUST, JDST, BIS, and SDOW. OK, so what's next? There's alot of bearish wRSI2 divergences showing up on the charts. VXX had a little wRSI2 bounce from O/S - usually that precedes a bigger bounce. $SPXA50R is rolling over. The IT Vol Mom Osc. is still blood red. All of these things are bearish (or at best suggest limited upside). If the dollar spikes, I'll be looking for more shorts in GDX (DUST, JDST) and adding shorts in Energy (ERY, SCO, DWTI, etc.). If bonds tank, I'll be looking at TBT. For longs, the brightest spot looks to be KRE + KBE. I wouldn't mind buying a dip there. So, there's things to do both long + short - although the short side of the ledger has more possibilities right now. or just raise cash + go fishing. Good luck out there! Aug 19th 8 PM Update: Fairly slow summer time trading week. The one bright spot for me this week was Energy (XLE, FCG, XOP, XES, OIH....even EWC). Good stuff! The big trigger was UUP breaking last week's inside bar to the downside which set off USO and the energy names all followed like puppy dogs. It was like fireworks going off in series and fairly easy to spot, too. (See notes on my charts from last week). Everything else was kind of ho-hum with robots playing ping-pong with eachother. Blah. There were some *potential* bearish wRSI2 divergences setting up and inside bars this week (TLT, XLF, etc). Watch how those break next week. Overall, I'm trading smaller than I was as I believe we are extended, but I'm not just 'sitting there doing nothing'. There's quick flips to be made in Energy. XIV is still tradable, although stretched,

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$ SPX6 - $BPSPX - 10 min

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$ SPX8 - XIV 10 min

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