Daily Technical Strategy
Technical Strategy
Daily Technical Strategy
Technical Strategy
- Daily Technical Strategy
- Daily Technical Strategy
Technology looks to be turning higher, despite higher rates
THE RALLY WHICH STARTED MONDAY LIKELY SHOULD CARRY SPX BACK TO 5400. A FIVE-WAVE ADVANCE HIGHER REPRESENTED THE FIRST REAL POSITIVE STRUCTURAL EFFORT OFF THE LOWS, AND BOTH US DOLLAR AND TREASURY YIELDS LOOK CLOSE TO TURNING BACK LOWER. AS I INDICATED IN RECENT DAYS, TECHNOLOGY AS A SECTOR IS...
- Daily Technical Strategy
Earnings in MSFT and GOOGL might hold the key
THE RALLY WHICH STARTED MONDAY LIKELY SHOULD CARRY SPX BACK TO 5400. A FIVE-WAVE ADVANCE HIGHER REPRESENTED THE FIRST REAL POSITIVE STRUCTURAL EFFORT OFF THE LOWS, AND BOTH US DOLLAR AND TREASURY YIELDS LOOK CLOSE TO TURNING BACK LOWER. WHILE META’S AFTER-MARKET PLUNGE ON SOFT GUIDANCE MIGHT HAVE SET A...
- Daily Technical Strategy
Technical low likely in place; Favor Technology, Industrials along with a snapback in Healthcare
IN TUESDAY’S SESSION, SPX AND QQQ HAVE RALLIED SUFFICIENTLY TO THINK THAT A SHORT-TERM LOW SHOULD BE IN PLACE, WHICH COULD LEAD BACK TO NEW HIGH TERRITORY. THIS IS BASED ON WAVE STRUCTURE, BREADTH, MOMENTUM, SEASONALITY AND CYCLES. FURTHERMORE, US DOLLAR AND YIELDS BOTH BEGAN TO TURN LOWER TODAY ON...
- Daily Technical Strategy
Lows in momentum/breadth are here, but price might take another 1-2 days
I FEEL THAT LOWS ARE CLOSE IN US EQUITIES, BUT THAT MONDAY’S FINISH DIDN’T ACCOMPLISH ENOUGH TO THINK THAT THE “COAST IS CLEAR” JUST YET. HOWEVER, BOTH BREADTH AND MOMENTUM HAVE TURNED HIGHER ON A SHORT-TERM BASIS, AND I FEEL THIS IS CONSTRUCTIVE TOWARDS THINKING BOTH OF THESE HAVE BOTTOMED. ...
- Daily Technical Strategy
Various Technical measures suggest a low should be close
AS I AM GOING TO BE TRAVELING THURSDAY AND FRIDAY, THERE WILL BE NO NOTE OR VIDEO ON EITHER OF THOSE DAYS. IN THE VERY SHORT-TERM, THIS PULLBACK HAS REACHED LEVELS WHICH SIGNIFY A POSSIBLE TECHNICAL SUPPORT ZONE BASED ON WAVE STRUCTURE, BREADTH, MOMENTUM, SEASONALITY AND CYCLES. US DOLLAR AND...
- Daily Technical Strategy
Granny Shot Technicals
SUPER GRANNIES: NVDA - BULLISH $NVDA’s consolidation in recent weeks hasn’t resulted in any material technical damage and the stock lies just off all-time highs near levels hit back in March Minor pullback has helped to alleviate short-term overbought conditions while weekly momentum remains strongly bullish Move back above $907.39 would...
- Daily Technical Strategy
QQQ support violation postpones immediate rally
THE RECENT SELLOFF TOOK A TURN FOR THE WORSE WITH THE BREAK OF MULTI-WEEK LOWS IN QQQ, REPRESENTING THE WORST TWO-DAY SELLOFF SINCE OCTOBER 2023. WHILE I ARGUED IN LAST FRIDAY’S NOTE THAT THIS WEEK SHOULD BE IMPORTANT IN CAUSING A LOW TO THIS RECENT DECLINE, IT DOESN’T LOOK TO...
- Daily Technical Strategy
Financials nearing short-term support but selectivity remains key
THIS WEEK’S SELLOFF LOOKS TO BE NEARING IMPORTANT SUPPORT HEADING INTO NEXT WEEK WHICH SHOULD ALLOW FOR SOME STABILIZATION AND A SNAPBACK RALLY INTO LATE APRIL AND THE MONTH OF MAY. I DON’T MAKE MUCH OF THE RECENT SPX DECLINE WHEN EYEING ITS TECHNICAL PATTERN ALONG WITH THE ONGOING STRENGTH...
- Daily Technical Strategy
Technology rally can help QQQ start to outperform SPY
IN THE VERY SHORT-TERM, INSUFFICIENT STRENGTH HAS OCCURRED BASED ON THURSDAY’S RALLY TO SUGGEST AN IMMINENT MOVE BACK TO NEW HIGHS IS UPON US. US DOLLAR AND YIELDS REMAIN TRENDING HIGHER AND THE EQUAL-WEIGHTED S&P 500 NEEDS TO ACHIEVE THE SAME DEGREE OF SUCCESS WHICH HAS HAPPENED WITH THE NDX. ...
- Daily Technical Strategy
Yield & US Dollar spike postpone snapback Equity rally, for now
IN THE VERY SHORT-TERM, THERE DOES LOOK TO BE A CHANCE FOR A BIT MORE TECHNICAL SELLING AS A RESULT OF WEDNESDAY’S DECLINE. EQUITY INDEX UPTRENDS WERE BROKEN AND BREADTH CAME IN VERY HEAVILY NEGATIVE. MOREOVER, THE MINOR BREAKOUT IN US DOLLAR AS WELL AS US TREASURY YIELDS WILL NEED...
