Weekly Stock Charts

Jonathan Parsons

Dec 11th 9:09A Update: Spent the weekend traveling to see family, but back now & ready to trade! Last week was a bit tricky as stock picking was key. Some of the best trades for me were oversold tech bounce plays like MU, AMAT, ALGN, etc. SPX calls also did well for me on Friday ($0.55 - $2). Volatility cooperated (faded), so that was another area to look for direction & also trades (I traded elsewhere). Summation indexes on both Dow & SPX are still rising, so we have a 'rising tide' lifting all boats in those indexes. Small-caps & Nas100 summation indexes are both fading, so we have a 'falling tide' acting as headwind on those indexes. So, for my own trading, small-caps and NDX stocks are just quick flips while I intend to hold onto UDOW and SPX trades longer. For this week, we have the expected Fed rate hike....usually helps banks before (& sometimes after). Also be on the lookout for effects on the US$ which can impact gold, oil, Euro, etc. Some important earnings late in the week from ORCL & ADBE to watch, too. To sum up, we have alot of crosscurrents right now and you can't just go blindly buying everything - be selective & hunt for stuff going up if you want to play long. OK, good luck out there!

ETFs to Watch - SMH

ETFs to Watch - TLT

ETFs to Watch - USO

ETFs to Watch - UUP

ETFs to Watch - XIV

ETFs to Watch - XLE

Z - $NYHGH vs $NYLOW - Daily Area, 900

Z - $SPXA50R

Z - $SPXHLP - Daily

Z - $UST2Y:$UST20Y Ratio

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