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It looks like the bulls got some much needed rest over the holiday-extended weekend, as the futures markets are pointing to a higher open today. This follows the “upside reversal day” we saw last Thursday, so hopefully the bulls can maintain their strength throughout the week. They started off strong last Friday but gave up …
The post Take Your Charts to the Next Level with This Bullish….
Editor’s Note: All major U.S. stock markets are closed today, Sept. 5, in observance of Labor Day. As I write this update on Friday afternoon, the S&P 500 is down just over 2% on the week. Stocks sold off hard last Friday and then continued that trend during the first three days of this week. …
The post Watchlist Update: Here’s What Gives Me Hope for Higher Prices….
Last week, we talked about how to identify and trade a “flag” pattern. But because a flag is really just another way to describe a consolidation range, they can take many different shapes and sizes. And just like a “bull flag” can lead to a bullish breakout, a “bear flag” can also lead to a …
The post BTC Shows a Pattern of Bear Flag Breakdowns appeared first….
Over the last couple of weeks, we’ve looked at the “head and shoulders” pattern from all angles. We saw that the pattern can be either bullish or bearish and can act as either a continuation or reversal pattern. You’ve also heard me talk about the “high-tight flag” and the “cup-with-handle,” which are some of my …
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Stocks began to stall last week with somewhat choppy action in the major indexes. This is not a surprise. I pointed out last week that the S&P 500, represented by the SPDR S&P 500 ETF Trust (SPY) below, is right at the 200-day moving average. This is an area where we could easily see a …
The post Watchlist Update: Don’t Let Some Selling Surprise You appeared first….
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Watchlist Update: Two Stocks for a Crazy Week
What a week… Just when we thought the craziness had finally come to an end, Tuesday’s CPI numbers showed that inflation was still rising, despite the market’s belief that it had peaked. The result was a bloodbath like we haven’t seen in years. The Nasdaq fell 5.5% in a day, and the Dow lost 1,276 …
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