Weekly Stock Charts

Jonathan Parsons Rank: 51 Followers: 18 Votes: 1 Years Member: 13 Last Update: 24 July 2016, 8:03 Categories: Chart Patterns
Trend Analysis
Volume Analysis

July 18th 9:30A Update: Futures are up slightly, Europe has some red. Let's see if new earnings are enough to give this grinder rally another day. Last week, a number of ETFs broke out to new 52 week highs which was great (and bullish). However, $BPSPX is >70%, $SPXA50R is at ~87%, IT Vol Mom Osc is +200, scan results show less bulls, etc., etc. What does it all mean? If recent history is any guide, gains are harder to come by. Best case scenario is that rotation into banks, tech, and other laggers helps to push the indexes higher still. Worst case scenario is that we pullback to the breakout levels (where I would be a buyer). For my own trading, I did very little this week except hold existing longs. I have way too much cash, but I will look to ligthen up further on any more strength and hope to get opportunites to put the excess cash back to work. Good luck out there! July 11th 7A Update: Another great week! I should go on vacation more often! I didn't trade last week, but with the benefit on hindsight, there were a few things to do. If you wanted to buy a dip, we got a dip to buy. If you wanted to wait until all indicators were pointing higher - that happened on Thursday morning before NFP. So, what's next? All indicators are still pointing firmly higher, so I have to lean bullish. My #1 target this week will be buying dips in XIV. Other high-volume ETFs that were strong last week include: GDX, GDXJ, XME, ITB, XHB, and SMH. GDX look a bit extended. My preference would be to buy dips in ITB. Good luck out there! July 1st 6P Update: What a week! Let's do the recap thing first. Last Friday, we closed on the lows & it set-up Monday for more weakness....and that's exactly what we got in most ETFs (more weakness). There were a few exceptions: Utes being 1. REITs held up, too. Importantly, XIV refused to go lower & actually hammered on the day. SPY was touching some important support levels that I marked on the chart. The question for me was, 'how confident was I to star



$ Bullish Stock Screen Results

$ SPX1 - Monthly

$ SPX2 - Weekly SPY

$ SPX4 - IT Volume Momentum Oscillator

$ SPX5 - Participation & %UP/DN Volume

$ SPX6 - $BPSPX - 10 min

$ SPX6 - $TICK - 10 min Cumulative

$ SPX7 - 10 min

$ SPX8 - XIV 10 min

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