Breakout_Charts

Breakout_Charts Updated 

AMEX:SPY TVC:DXY AMEX:EFA The opportunity presented by a falling dollar: These are simple Yearly Candles. The chart depicts how the falling dollar can provide outperformance in foreign equities vs domestic equities. The top chart is simply a chart of the dollar index. The middle chart is EFA vs SPY. The bottom chart is that of the EFA. Take notice as the...

Breakout_Charts

These charts speak for themselves. Be cautious.

Breakout_Charts Updated 

The indexes are entering a period of traditional seasonal weakness. The headlines will be filled with bearish news and stories of pending economic doom. Pay no attention to the talking heads. IMO The bottom is in and the lows will hold. My favorite headlines are the ones talking about low volume, no capitulation, and the bottom hasn't happened yet. Well, the...

Breakout_Charts

Happy Labor Day Weekend Chart Watchers. Its been awhile since I last posted anything but I figured this would make for some good conversation. The Communications sector has been the worst performer YTD of all the SPDR sectors. This weekly chart shows that it might be at an inflection point. First, lets discuss the chart. I am a long term investor. I like to view...

Breakout_Charts Updated 

Everyone knows that $XLE has been out performing for the last two years. If you missed the move here's an opportunity at a new comer to the breakout in energy, $AMLP. This ticker is an ETF that tracks a basket of MLP stocks. It's concentrated at just 17 holdings and its currently boasting a yield of 7.4%. The monthly chart looks a lot like its cohorts in the...

Breakout_Charts

This is a really simple trade. Here is a weekly candle chart showing nothing but weakness. Gold failed to breakout on any time frame. Now, it is threatening two plus year support. If the support breaks, and only if it breaks, take the short side of the ledger. Ticker: $IAU iShares Gold Trust.

Breakout_Charts

I first typed this up yesterday and accidently published it as a private idea. Here's the second attempt: I rarely trade tickers with overhead resistance. The idea is to buy when the trend is clearly up and there's no overhead supply to dampen upward prices. Buy high and sell higher as it were. However, during selloffs, bear markets, etc, there is going to be...

Breakout_Charts

Bear markets, economic slow downs, recessions, inflation, the Fed, Jerome Powel, etc... It's enough to make anyone feel sick. Well, step right into the Doctors office because I have the cure for what is making you ill. But before I start writing prescriptions, we need to apply a diagnosis. First let us review the causes: Soaring Commodities. Crashing...

Breakout_Charts

Posting from a mobile device. I apologize if the chart image isn't perfect. This is $XLE Energy SPDR ETF. Weekly Candle is forming an Evening Star. High probability of a powerful sell off coming. Long term energy charts are all very bullish. Take profits and/or look for buying opportunities for new longs.

Breakout_Charts

This is a long term monthly price channel of $SPX starting with the low in March 2009 up until the present. The mid point of the price channel has proven to be powerful support while the top end of the price channel has proven to be powerful resistance. There's only been six significant penetrations below the mid point of the price channel since this trend has...

Breakout_Charts

The Bears haven't won just yet. Buyers stepped in at the same levels they have in the past. Lets see how the rest of the week plays out. Good luck to all.

Breakout_Charts

In my opinion the only support level that matters right now is the low of the bullish piercing candle that was formed on February 24th. Similar to a bullish engulphing candle it signifies a change in trend. The piercing candle is formed on a strong rally day with heavy volume after a sell off. Ideally the piercing candle should penetrate at least 50% of the...

Breakout_Charts

The low of the February 24th candle is hard support in my opinion. That candle formed a piercing reversal with the previous days candle being penetrated well into its body after the selloff. Heavier then average volume confirmed the bottom and reversal. Unfortunately for the bulls the rally was rejected back at the former swing high in the $450ish range, forming a...

Breakout_Charts

The action today was downright ugly. To me, this chart is as bearish as its been since the rally off the recent bottom. The price can't hold former support. Yesterday gapped down from the close on Friday. The Japanese call that a window. Today's price action tried and failed to close the window, which is bearish in Japanese candlestick charting. I added an...

Breakout_Charts Updated 

The SPDR BioTech ETF $XBI has been an underperforming for a long time. However, there's clues that could be changing. There's a nice positive divergence on the RSI. The down trend line was broken after several failed attempts. The stock is above the 50 day MA for the first time in over a year. Both the 20 SMA and the 50 SMA are curling upwards. RSI is positive. I...

Breakout_Charts

I don't like the QQQ set up here at all. There's a potential double top. I say potential because a double top is not confirmed until support is broken. There's minor support at the Fibonacci levels, hard support at the bottom of the range. Why I am so bearish on this set up is the diminishing volume between the two peaks. That diminishing volume is a precursor to...

Breakout_Charts

Happy Weekend Everyone. I put together a custom FANG Plus index to track the overall strength of the popular large cap growth stocks as these stocks have been the most widely held stocks for the past several years. This particular chart is a weekly candle chart using Fibonacci retracement levels taking the previous low from the past calendar year to the last...

Breakout_Charts

While these two charts aren't the same, they are very similar. The top chart is a ratio chart of ARKK vs Berk.B. The bottom chart is a ratio chart of Tech vs Energy. If the top chart is any indication of the overall trend, then there's plenty of upside in energy still. The downside of ARKK vs BERK.B overshot the minimum downside target. This is a logical area for...