Weekly Stock Charts [Box Theory]

Jonathan Parsons Rank: 76 Followers: 11 Votes: 1 Years Member: 12 Last Update: 25 April 2015, 6:53 Categories: Chart Patterns
Trend Analysis
Volume Analysis

April 6th 2015 8:45A Update: Big NFP miss on Friday when the markets were closed sent futures plunging. Now they've clawed back some of the gains, but still weak. On the other hand, gold + silver are loving the weak jobs #. Oil is up on news that Saudi Asia is raising crude delivery prices which is bullish for oil. Iran deal is still muddled. What's it all this news mean? Not much. You can just look at the futures (prices) and get the same info. My point is to trade price - most of the news is just background noise. Prices move so fast now that all the news is incorporated within a few minutes of release. What's hard to find right now is a strong trend. Last week was very sloppy trading. I'm hoping that we can get 1 or 2 good trends for the week. Right now, I'm looking towards the precious metals which can get a good squeeze going if they start to move. The # of strong bull & bear stocks is very low (40's) - which literally means there's not much conviction to the bull or bear side. We're range bound until further notice. This in itself will make trends harder to come by - there just aren't many strongly trending stocks right now. Good luck all.

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