Test_Monkey

Test_Monkey

SPY was down 1.6% on Friday. QQQ was down 2.6% .... WIRE was up 1%. It managed to find buyers in a climate of selling demonstrating some unique power. Note that this was done on some abnormally high volume, perhaps suggestive of institutional accumulation. My only interest is if it moves north as this has some odd power in an otherwise choppy environment.

Test_Monkey

William O'Neill once said that a paradox of the market is that what is high can often go much higher (and vice versa). DCP is a strongly rated company by IBD returning to challenge a recent high. I think Longs could be comfortably taken above $40, but its pathway there may involve some meandering.

Test_Monkey

TQQQ (and the QQQ's) have been range-bound for the past few days, approx. between $31-$35 ($4). This is a little more than the 14-day ATR of $3.00. In light of this, one way to paper trade this would be to take a long above $35 with stops at $31 and shorts below $31 with stops at $35. This is an 11.5% risk on a 3x leveraged stock which is a relatively tight range...

Test_Monkey

Institutes need to pack their ETF's with high-quality stocks. Here is a high-quality beaten-down stock that suffered the fate of many SPACs. Using an indicator developed by @JohnMuchow () it may be possible to find out when this occurs. Per John's write up: " The Ants indicator is based on the research of David Ryan, three-time winner of the U.S. Investing...

Test_Monkey

I am always looking for those low risk/high reward plays. SOXL looks like a strong contender as AMD, NVDA, AVGO and even INTC had a decent day. Lots of room to run if it continues through $26.50 (a good place for paper buy stops) Things are on hold if it slides back into the box... It needs to avoid that downward channel or things get bearish.

Test_Monkey

Weber-Fecher law is a psychological theory of perception in which the brain perceives logarithmic changes on a linear scale. For instance, if you were holding a 1 versus 2-pound weight, the difference is quite noticeable. However, this difference is much harder to detect when one is holding a 100 vs 101-pound weight despite the difference being the same... simply,...

Test_Monkey

With the break of the 50 MA and the current resistance (now support), there is much to like about this trade. EURUSD has a memory like an elephant, remembering these old levels... And as the dollar (DXY) is trading inverse to the SP500 (which is getting stronger) there is reason to believe that the EURUSD is poised to make a break for higher ground. This makes...

Test_Monkey

There was a strong bounce off of the confluence of two resistance lines at $650. A strong market will rise all stocks, with this one potentially rising with the most momentum. Look towards the $825 neighborhood as the 1st scale out point. However, the next and most immediate challenge will be the 21-day MA. A bounce down from here puts us into the $700 regions....

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It's indisputable that the ES is under the 50 and 200 MAs making the macro trend a "Stage 4" decline as defined by Stan Weinstein. However, there are reasons to believe that the market is undergoing a character change with its break of the most recent downward trend line. It could be a rally (either a bear market bounce or a return to our regularly scheduled...

Test_Monkey

"Delek US Holdings, Inc. is a diversified downstream energy company with assets in petroleum refining, logistics, asphalt, renewable fuels" It's pushing into an 800+ day high. Not financial advice, so look for this one to push above $30 on good volume for those paper trading accounts. $30 should serve as solid support as Raymond James and Piper Sandler have price...

Test_Monkey

Could almost play this one in either direction. Bullish if its up and Bearish if it breaks down.

Test_Monkey

Another potentially low-risk, high reward play. As this is not financial advice, paper traders would take this on the break of about $41.50 and look for it to rechallenge the $45 area. There is the potential for a re-test ofsupport. That would leave this in "wait and see" territory. The trade idea is broken if the stock slips below $31.

Test_Monkey

Here is a fun idea. SAFM supplies chicken. Fairly low-risk for high reward play. GL out there.

Test_Monkey

CLR is breaking out of the handle on a very long developed cup.... I think a conservative entry would be on the break of $60.20 (make it come to you)

Test_Monkey

If it closes a candle above $160.50 in the next few days, I can see it re-challenge the $165 resistance... but this time with some serious momentum behind it.

Test_Monkey

Warren Buffet loves Mac and Cheese. Apparently so do bears and inflation... Following earnings, 3 days of higher than normal volume, a nice stochastic, and a MACD cross-over into positive territory, KHC has managed to surpass the 200 EMA by about 4%.

Test_Monkey

Everything is looking pretty bad out there. notably, almost no stock can their post-earnings bump (if they even had one - see GOOG and UPST). CSCO did though. This would be an 'iffy' early entry. It looks like it is bouncing off of the 200 EMA, stochastic is going higher and there is a MACD cross-over. However, the anchored VWAP (from all-time high) provides...

Test_Monkey

See you on the other side of the blue lines. You have had a phenomenal run those past 12 years! and that killer sprint at the end?!?! PHENOMENAL... really broke those blue tapes! And now you're feeling tired... over-extended... take a break. I'll do the same. We will catch up in a few months! P.S. - Please take the white path and not the red.