Weekly Stock Charts

Jonathan Parsons Has Had Over 25 Followers Rank: 43 Followers: 20 Votes: 1 Years Member: 14 Last Update: 21 March 2018, 20:22 Categories: Chart Patterns
Trend Analysis
Volume Analysis

Feb 17th 2018 10:30 AM Update: What a great week! I think it was bigger than most expected. Key after the bullish divergences was breaking the inside day to the upside after CPI #. Doesn't matter if the data was hot or cold - what matters is the reaction. And when everything started breaking to the upside, it was game on. Tons + tons of opportunities this week in metals, tech, fins, emerging markets, oil, etc. Only things that weren't moving were nat gas and bonds. OK, so what's next? 300+ names on my high-volume weekly inside scan are inside. So, what happens next will be very dependent on where those 300+ inside weekly charts break (up or down). Next week is a 4 day week which tends to have lower volume + more chop. We've also been up >1% the last 4 of 5 days, so some give back is likely. Putting it all together, most likely scenario is push higher Tues, give back on Wed/Thurs, and then back up by Friday (so strong, then chop). Based on the charts, it's unlikely 300+ names are going to bust out the lows, I would guess 10% chance (not zero). Anyway, watch those breaks this week and trade accordingly. Good luck out there!


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