Weekly Stock Charts

Jonathan Parsons Has Had Over 25 Followers Rank: 37 Followers: 24 Votes: 0 Years Member: 14 Last Update: 13 January 2018, 9:51 Categories: Chart Patterns
Trend Analysis
Volume Analysis

Jan 6th 2018 7P Update: Wow! What a week...and it wasn't even a full week! The market acted very well technically & that made my job much easier. (Choppy, sloppy markets are the hardest for me.) I'm not going to go through every trade/market set-up, but 1 easy example was the DIA's. The Q's were leading, then SPX....so the obvious 1 to follow is the DIA's. Next you look at some charts of the components - lots of potential breakouts. So, when the DIA's start going, you don't hesitate to buy the DIA's (I bought UDOW) and then you look for the components that are driving the breakout & buy them, too. And that's just the DIA's! OK, that's all in the past what's next? There's a bunch of sectors that have already run huge, so I would expect some rotation. What could they rotate into? Fins (XLF, FAS, KRE, KBE, etc.) which will also help small-caps (IWM, IJR, TNA). What about bio's (XBI, IBB) - they might follow XLV higher. XLV itself looks good with JNJ b/o as well as other components. What if XLE continues higher after a few days off led by stocks like CXO? What if XME continues higher after a few days off? What if copper breaks out of the bull flag that it's in - FCX is going to fly again? There's so much potential still left in this market. OK, that's enough for now. Good luck out there!


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$ SPX1 - Monthly

$ SPX2 - Weekly SPY


$ SPX4 - IT Volume Momentum Oscillator

$ SPX5 - SPX-specific McClellan Summation Index

$ SPX6 - 1 hour Elder Impulse System, 900

$ SPX7 - 15 min Elder Impulse System, 900

$ SPX8 - $TICK

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