Will Gold Shine In 2019?

Gold has created a multi-year baseline near the 1380 level, and if it can break through it, then a trend reversal could move the price above 1500.

Click here to watch the video.

Will The Stock Market End 2018 With A Loss?

As the market has turned negative for the year and as 2018 is coming to an end, will the market rally back into the positive territory to end 2018 on a positive note? Since I do not have a crystal ball or some magic power to predict the future, I will resort to my technical analysis skills in an attempt to extract what the market might do in the near future. With that said, let’s do it.




Starting off looking at the DJT index to see if there are any signal from the Dow Theory, and the answer is no. Next, looking at the daily chart, I see the price has broken the support level near 9757 and dropped into the Fibonacci retracement zone (shared area between 38.2% - 61.8%) to the 50% range. In addition, the price has also reached the 141% of the near term Fibonacci extension. The 50% retracement and the 141% extension provided a confluent that could trigger a dead cat bounce back to the region between 9420-9757. If a countertrend-rally does not occur near this confluent then I will be watching for support near the 161% extension or the 61.8% retracement near 8600-8400. If neither of these scenarios play out, then the key level to watch will be 8171.93.




To continue my analysis, I will turn to the DJIA to see what it might do. First it also has retracement into the Fibonacci retracement zone. Unlike the DJT, it only retraced to the 38.2% level and appears to have tagged a support level near 22413. Furthermore, it has reached the 161% of the near term Fibonacci extension. Similarly to the DJT, the Fibonacci retracement and extension are in confluent and could provide the trigger for a dead cat bounce near the current level back to 23242-23881 range. Alternatively, if a bounce does not occur at the current level, then I will be watching for possible bounce off any one of these potential support levels; 22179, 21681, and 21169. The 21169 level is a key level to watch as it is in confluent with the 200% Fibonacci extension and 50% of the Fibonacci retracement.




From the two Dow indexes; the transportations and the industrials, we see the possibility of a dead cat bounce in the near future back to the levels where these indexes have broken down from. Moving onto the SP500 (SPX), it too has moved into the Fibonacci retracement zone and near the 50% level. Also it is near the 161.8% near term Fibonacci extension and getting close to a potential support level near 2400. Similar to the DJIA and the DJT, a confluent around these levels could trigger a dead cat bounce back to the 2532-2583 area. If the countertrend-rally does not show up here, then I will be watching for a move toward the 61.8% retracement level and the potential support level near 2300 for possible support.




Turning to the tech dominated index, the Nasdaq 100 (NDX), it also show the price has dipped into the retracement zone, but not sitting near any of the retracement levels. It is currently sitting in between the 38.2% and the 50% retracement level, and near the potential support level of 6012.95. For the Fibonacci extension, it is sitting in between the 127% and the 141%. Unlike the DJT, DJIA and the SPX, the NDX does not have any confluent at work. Instead, it appears to be respecting the prior support turned into resistance levels. Therefore, I will be watching for this index to make incremental move back to the resistance levels above current price if a dead cat bounce appears. Otherwise, I will be looking for it to continue to move lower and test the potential support levels near 5895 and 5717.




Finally, looking at the small cap, the Russell 2000 index (RUT). The RUT has dipped below the 50% Fibonacci retracement level and sitting right above the 161% extension. It too could experience a dead cat bounce from the current level back toward the 38.2% retracement near 1436 and 1459. If it doesn’t bounce at the current level, then I will be looking for a possible bounce off the 61.8% retracement near the 1263.5 support level. Otherwise, the key level to watch is 1190.20 near the 200% Fibonacci extension.

There you have it. The indexes are all near a potential countertrend-rally level. Whether the indexes will bounce or not off these levels, the trend is biased on the downside. Until some stabilities have been re-established, I will continue to be on the cautious side. I know the recent selloff is not very pleasant for most, including myself. We all have experience some degree of drawdraw, especially in our long term account. But like everything, all things will past, including this selloff. Just be careful, be patient, and enjoy the holidays.

You can watch the video version of this analysis on my YouTube channel by clicking here, and if you are not a subscriber, click on the subscribe button on my video or this link to subscribe. If you have any questions, comments and/or suggestions, please post them in the comment section below or in the comment section on my YouTube video.

Stock Market Update (live) - 12/15/2018

In this live session, we will review and identify price levels to watch for the stock market indexes and their ETF. In addition, this week's video will also include BABA, MU, TSLA, NFLX, GOOGL, CRON, LVS & WYNN.

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Stock Market Update (live) - 12/7/2018

In this live session, we will review and identify price levels to watch for the stock market indexes and their ETF.

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Stock Market Update (live) - 12/1/2018

In this live session, we will review and identify price levels to watch for the stock market indexes and their ETF.

Click here to watch the video.

Stock Market Update (live) - 11/24/2018

In this live session, we will review and identify price levels to watch for the stock market indexes and their ETF.

Click here to watch the video.

Stock Market Update 11/18/2018

In this stock market update, we will review the stock market indexes and identify some key levels to watch for the coming week.

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Stock Market Update 11/9/2018

In this stock market update, we will review the SP500, Nasdaq 100, Russell 2000, and the ETF SPY, QQQ, IWM.

Click here to watch the video.

Tesla On The Move Again

After reporting positive earnings last week, Tesla stock price is on the move again. In this video, we will review and analyze the latest Tesla stock price action.

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When Will Marijuana Stocks Get High Again?

An update on CRON CGC & TLRY stock prices. Where are these marijuana stocks heading.

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Stock Market Update - Oct 27, 2018

The stock market continues its slide. In this video, we will analyze the indices and identify some key levels to monitor for the coming week.

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Stock Market Review - Oct. 24, 2018

Today the stock market continues to sell off. Here are some levels to watch for the DJI, SP500, NDX, RUT, DJT.

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Is The Hype On Marijuana Stocks Over? (Updated) Oct. 22, 2018

An update on the marijuana stocks discussed in previous video. CRON, CGC, TLRY.



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Is The Hype On Marijuana Stocks Over?

Canada has legalized recreational marijuana use, and the widely anticipated pop on marijuana stocks didn't materialize. Is the hype over? In this video, we will take a look at 3 of the highly traded cannabis stocks; CRON, CGC & TLRY and see where they might be headed.

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Stock Market Review - 10/19/2018

The stock market remains in the downward bias. We will look at the price actions and see what are some of the key levels to watch for next week.

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Is It Time To Buy Gold?

In this video, we will look at the recent gold price actions and see if it is poised to go higher.

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Are Marijuana Stocks Getting Too High?

In this video we will review these following marijuana stocks: TLRY, CGC, CRON, ACBFF & APHQF to see if they are getting too high or going up in smoke.

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How Low Will The Market Fall?

In this stock market update video, we will review the stock market indexes and identify some key levels to watch for the coming week.

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SP500 Emini Profile Watch - 9/10/2018

Emini closed with a poor low today. Here are some scenarios to watch for tomorrow RTH.

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Stock Market Update - 9/9/2018

In this stock market update, we will review the stock market indexes, and analyze stocks for trade setup using technical analysis technique.

Stock analyzed: TWTR, RUKO, TSLA, NFLX, AAPL


Click here to video the video.

Another Record Week For The Stock Market

The stock market recorded another all time high this week. How high will the market go before a major correction?

In this video, we'll take a look at some possible price levels the market might reach. In addition, an update on TWTR, TSLA, ROKU & NFLX.

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SP500 Reached All Time High

The stock market continues its march to record high last week, will it continues to make new record this week. In this video, we will look at the price action and identify some possible scenarios for the coming week for the stock market and these stocks: ROKU, TWTR, BABA, and the VIX.

Stock analyzed: ROKU, TWTR, BABA, VIX

Click here to view the video.

Surprise Announcement From Tesla

Late on Friday night, Tesla tweeted Elon Musk has decided not to pursue taking Tesla private and it will remain as a public company. What will that do to the stock price when it open for trading on Monday? In this video, we will take a look at the recent price actions and identify some potential near term scenarios.

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Tesla Stock Price Recovering?

After Tesla stock price made a recent dip below 300, it has bounced back above the 320 level. Will the stock price continue to rise? Here is one possible scenario that I'm watching.

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New All Time High For The Stock Market?

In this video, we'll take a look at the stock market indexes, the FANNG and some notable MOMO & semiconduct stocks, and identify some key price levels to watch in the near term.

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Tesla Zoom Or Doom

In this video, we will look at Tesla's stock price actions and identify some key levels to watch for the near term.

Click here to watch the video.

Be sure to check out my previous videos on Tesla if you have not watched them:

TSLA Popped On Earnings. What's Next? - 8/5/2018
Tesla Stock Price Surged After Musk Tweeted Considering Going Private
What Is The Next Play For Elon Musk & Tesla?

What Is The Next Play For Elon Musk & Tesla

A follow up on Tesla price actions since Elon Musk tweeted he is considering taking Tesla private, and some possible price levels to monitor.

Click here to view the video.


Referenced videos:
TSLA Popped On Earnings. What's Next? - 8/5/2018 https://youtu.be/_IRNVNQQXBE
Tesla Stock Price Surged After Musk Tweeted Considering Going Private https://youtu.be/lt0ZfT6qurw

Tesla Stock Price Surged After Musk Tweeted Considering Going Private

In this video, you will see how I was preparing to go long on Tesla before the news on Saudi Arabia accumulated a stake in Tesla, and before Elon Musk tweeted about considering taking the company private at a price of $420.

Click here to view the video.

TSLA Popped On Earnings. What's Next? - 8/5/2018

Some possible price action scenarios are presented for TSLA.

Click here to view the video.

FANG Stocks Selloff - 7/27/2018

In this video, we will look at the price actions of the FANG stocks and the indexes ETF. Stock analyzed: SPY, QQQ, IWM, FB, AAPL, AMZN, NFLX, GOOGL, TWTR.

Click here to view the video.

Semiconductor Stocks On Watch - 7/14/2018

In this video, we will look at some semiconductor stocks for potential price action scenarios and how one might be able to identify possible trade setups.

Stock analyzed: MU, CY, AMD, INTC, CREE, MXIM ADI, NVDA

Click here to view the video.

Stock Market Update - 7/7/2018

Another strong week in the market. In this video, we will look at the index ETFs: SPY, QQQ, IWM, the FAANG stocks: FB, AMZN, AAPL, NFLX, GOOGL, and TSLA.

Click here to view the video.

Stock Market Update - 7/1/2018

In this stock market update, we will review the stock market indexes, and analyze the FAANG stocks along with TSLA.

Click here to view the video.

How The Market Warned Us On Today's Drop - 6/25/2018

In this stock market update, we will review the stock market and look at some of the levels the market has flagged to us to keep an eye on.

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Where's The Price Of Oil After OPEC's Decision?

In this video, we will take a look at some possible scenarios on what the crude oil price might do in the near future.

Click here to view the video.

Earnings Season Is Upon Us Once Again - 4/15/2018

In this market update video, we will look at the index ETFs, the FAANG stocks, the following financials stocks that are scheduled to report earnings next week, BAC, GS, MS. and these MOMO stocks, NVAD, BABA, TSLA.

Click here to view the video.

Watch For The Obvious - 4/8/2018

In this stock market update, we will review the stock market index ETF and analyze the FAANG stocks for trade setup using technical analysis.

Click here to view the video.

How The Stock Market OpEx Game Might Be Played - 4/5/2018

In this video, we will take a look at some possible games the market plays on OpEx day using the SPY.

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Stock Market Update - 3/25/2018

As the market continues to drop, here are some price zones/levels to watch for potential support.

Click here to view the video.

Stock Market Waiting For Pace From FOMC - 3/18/2018

The market is expecting the FED to announce another rate hike in next week's FOMC meeting. What the market is waiting from the FED is the pace of future rate hikes.

In this video, we will identify some potential price action scenarios for the market and some widely watched stocks along with some key financial stocks going into the FOMC announcement.

Click here to watch the video.

Stock Market Dead Cat Bounce or Short Squeeze? - 3/4/2018

The stock market had a nice bounce off the opening low after 3 consecutive down days. It rallied into the close during the last 30 minutes as OpEx approaches. Was this rally a short squeeze or simply a dead cat bounce from the recent selloff?

In this stock market update, we will review the stock market indexes, and analyze the #FAANG stocks for trade setup using technical analysis. In addition, we will also look at the price action from NVDA, BABA & TSLA.

Click here to view the video.

Where's The Pullback? - 2/24/2018

The pullback we were anticipating didn't show up last week. Instead, we saw a typical weekly OpEx short squeeze melt up.

In this stock market update, we will review the stock market indexes and the #FAANG stocks to establish some scenarios for the coming week.

Click here to view the video.

What's Next For The Stock Market - 2/17/2018

After last week's bounce, what is next in store for the stock market?

In this stock market update, we will analyze the price actions for the SPY, QQQ, and the FAANG stocks to develop some potential scenarios for the coming week.

Click here to view the video.

Wild Wild Week For The Stock Market - 2/10/2018

This week has been a wild wild week for the stock market. The velocity and the swing of this pullback have caught many market participants off guard, and for some that are heavily on the wrong side of the trade got wiped out.

Click here to view the video.

Stormy Weather Hit The Stock Market Today - 2/5/2018

In this stock market update, we will review the stock market indexes, and analyze stocks for trade setup using technical analysis technique.

Stock analyzed: SPY, QQQ, IWM, FB, AAPL AMZN, NFLX, GOOGL

Click here to view the video.

Market Moved Away From Balance - 1/28/2018

The emini SP500 futures broke away from the balance zone and moved up to a new all time high. In this Trading The Price, we will review the price actions and determine some possible scenarios for the next move from the market.

Click here to view the video.

Stock Market Continues To Make New High - 1/27/2018

Market continues to make new high and main street is beginning to join in the foray. In this Stock Market Update video, we will take a look at the market and see if there is anything that might dampen the enthusiasm.

Click here to view the video.

Calm Before The Storm - 1/25/2018

In this Trading The Price, we will review the SP500 emini futures for potential near term market directions.

Click here to view the video.

Trade Setup For FB Leading Up To Earnings - 1/19/2018

In this Trading The Price video, we will analyze FB price actions and identify possible setup for a potential trade for the coming week.

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Where Is The Catalyst? - 1/15/2018

In this stock market update, we will review the stock market indexes and analyze them using technical analysis technique to determine where it might be headed.

Click here to view the video.

Mining For Gold - 1/13/2018

In this Trading The Price, we will review the precious metals/gold mining stocks, and analyze them for trade setup using technical analysis technique.

Click here to view the video.

Trade Ideas For AAPL & TSLA - 1/6/2018

In this Trading The Price video, we will analyze AAPL & TSLA for trade setup using technical analysis technique, and take a look at couple trade ideas for these stocks.

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New Year, New High For The Stock Market - 1/7/2018

In this stock market update, we will review the stock market indexes.

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Santa Rally Stock Market Update - 12/172017

Santa brought holiday cheers to the market last week and pushed it to another new all time high. In this video, a recap on what the market has done and what to expect in the coming week. In addition, a look at three financial stocks, BAC, C & GS.

Happy holidays everyone!

Click here to watch the video(Be sure to click the 720p or 1080p to watch the video in high def.)

Trade Setups - 12/9/2017

In this stock market update, we will analyze some stocks for trade setup using technical analysis technique. Stock analyzed: ACIA, CELG, FFIV, UPL, AU, ABBV, HLF, PCRX, STX.

Don't forget to select 720p to watch the video in high def.

Click here to view the video.

Stock Market Acted As Nothing Has Happened

The stock market took a dip of more than one percent on mid-Friday morning, then it regained most of its losses and closed almost unchanged as nothing has happened. In this video, we will take a look at the indices and see what might come next and review the #FAANG stocks, some MOMO stocks and a few agricultural stocks for potential future price actions.

Click here to view the video. (Be sure to select 720p to watch the video in high-def)

Thanksgiving Celebrated With Another New All Time High

The stock market continues to make new all time high, even in a holiday shorten trading week. Internals are still intact for newer high. In this video, we will review the stock market indices and their respective ETF, #FAANG stocks (FB, AAPL, AMZN, NFLX, GOOGL), TSLA, BABA, TWTR, BAC, GS, JPM, MRO, DVN and SPWR for possible near term price moves.

Click here to view the video.

Price Zones For #FAANG Stocks & Market Update - 11/19/2017

Price zones review for FB, AAPL, AMZN, NFLX, GOOGL, ROKU, TSLA, BABA, TWTR, and the Market.

Click here to view the video.

Another Week Of New High In The Stock Market

In this stock market update, we will review the ETF for the stock market indexes, and analyze the FAANG stocks along with couple of the recent IPO stocks.

Click here to view the video.

Stock Market Surged To New High On AMZN & GOOGL Earnings

AMZN & GOOGL reported favorable earnings last week and they pushed the stock market to new all time high.

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Nothing Has Changed

The stock market continues to make new high and the internals have not change much at all. We will continue to maintain a cautionary stance as the market remains near record high territory.

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Bears Attempting To Take The Stock Market Down

The stock market made another new high last week, but as the week coming to an end, the bears are making another attempt to weaken the market. In this video, we will take a look at these stocks & ETFs: FB, AAPL, AMZN, NFLX, GOOGL, TWTR, GLD, BAC, GS, MS, QCOM, CRM, WDAY, ATHM, CMG, PCLN, ALKS, MCD, ADBE, SNAP, UAA, AGU, MOS, POT, SPY, QQQ, IWM, DIA.

Click here to view the video.

Stock Market Continues To Frustrate The Bears

The stock market continues to frustrate the bears. It continues to put in new all time high as the VIX hovers near historical low level. We all know this will eventually come to an end, but the market internals remain to be strong and still telling us new high is yet to come.

In this video, we will take a look at the indices and analyze these stocks for potential future price action: FB, AAPL AMZN NFLX, GOOGL, QCOM, CRM, WDAY, ATHM, CMG, PCLN, ALKS, MCD, ADBE, SNAP, UAA.

Click here to view the video.

Stock Market Closed At Another New High

The stock market continues to make new high and the internals still flashing higher high. In this video, a brief recap on the indices and a quick look at these names: QCOM, CRM, WDAY, ATHM, CMG, PCLN, ALKS, FB, MCD.

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New All Time High Still In The Card

The stock market pulled back after closing at a new all time closing high earlier in the week. The market internals along with the new all time closing high from the NYA and RUT are telling us to continue to monitor for new closing high from the stock market.

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Stock Market Continue To Make New High

The stock market continue to make new high. Market internals have not show sign of a market top.

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Stock Market Closed At New High

Today, the SP500 closed at a new all time closing high. In this video, we will review today's price action and review these stocks: AAPL, FB, NFLX, AMZN, GOOGL, TSLA, TWTR, GLD, SPY, QQQ, IWM.

Click here to view the video.

Stock Market Is Struggling Toward New High

The stock market has been trying to get back to it's all time high, but it is having a difficult time getting there. A continuation on the recent pullback for the coming week is highly probable. Until the market is back at it's all time high, the bias should remain on the downside.

Click here to watch the video for levels to monitor.

Stock Market Update - 9/4/2017

In this stock market update, we will review the stock market indexes, and analyze stocks for trade setup using technical analysis technique.

Stock analyzed: AAPL, FB, NFLX, AMZN, GOOGL, SPY, QQQ, IWM, GLD, GDX, GDXJ, ABX

Click here to view the video.

Gold Next Price Target: $1400

Gold has broken out and closed above the 1300 level today. If the price of gold continue to move higher, then $1400 could be the nearest potential price target.

In this video, we will take a look at gold and it's EFT, GLD. In addition, we will also review the following gold related ETFs and stocks: GDX, GDXJ, NUGT, JNUG, ABX, AU, AUY, NEM.

Click here to view the video.

Is There A Bounce Coming ? (8/26/2017)

The stock market is showing some divergence, could a bounce be in the offing? In this stock market update, we will review the stock market indexes, and analyze stocks for trade setup using technical analysis technique.

Stock analyzed: AAPL, FB, NFLX, AMZN, TSLA, TWTR, SPY, QQQ, IWM

Click here to view the video.

Pin Levels For This Week's OpEx - 8/22/2017

In this live Trading The Price, we will look at the possible pin levels for this week for SPX, SPY, AAPL, FB, NFLX, AMZN, TSLA, GS & TWTR.

Click here to view the video.

Stock Market Continue To Pull Back - August 19, 2017

The stock market continue to pull back last week. Market breadth indicators are showing sign of deterioration and the Dow Theory is confirming the DJIA pull back. Until we see the stock market showing signs of stabilizing, one should remain cautious. In this stock market update, we will review the price action of the indices and these stocks: AAPL, FB, NFLX, AMZN, TSLA, GLD/GC_F.

Click here to view the video.

Was That A Stock Market Top?

The stock market record closing streak finally came to an end on August 8, 2017. It ended after the Dow Jones Industrial Average(DJIA) has closed with nine consecutive record close. The end of the record streak did not come quietly. It ended on a day the DJIA and SP500 made an all time intraday high then reversed to close with a loss. Was that a stock market top?

Click here to watch the video.

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Has The Stock Market Topped - August 6, 2017

The Dow Jones Industrial Average closed at all time high last week. It has closed at record high level for the last eight consecutive trading sessions. This beg one to ask the question, "Has the stock market topped?" In this stock market update, we will analyze the market price action to get clues to help us answer the question.

Click here to watch the video.

Earnings Analysis On AAPL & TSLA - Trading The Price 8/1/17

In this edition of Trading The Price, we will do a post earnings analysis on AAPL and a pre-earnings analysis on TSLA to identify potential price movement.

Click here to view the video.

Stock Market Raised Cautionary Flag - 7/29/2017

The stock market has raised a cautionary flag as the month of July is coming to an end. It has flashed warning signs to tell us to be cautious.

In this stock market recap video, we will look at some of those warning signs, and review the following momentum stocks: AAPL FB BABA TSLA GOOGL AMZN NVDA NFLX to see where they might be headed.

In addition, we will take a look at the recent price action in gold and analyze some of the gold miners EFTs ( GDX GDXJ JNUG NUGT) and mining stocks (AU ABX) for potential trade opportunities.

Click here to watch the video.

Still Watching

The market pulled back in the recent week and it appears to be setting up for a possible bounce. As the market waits for the next FOMC interest rate decision, we will continue to watch for a bounce that might lead to a retest of the all time high.

Beware Of The Obvious

There is an obvious price pattern on the price chart for the SPY and the emini SP500 futures. That obvious price pattern is the head & shoulder. Not saying all head & shoulder patterns will fail, but if one put the price pattern within the context of the market breadth indicators, one needs to beware of the obvious! Although there has been a recent minor pullback, but the market indicators on my watch list have not turned negative. If this H&S pattern breaks along with deteriorating market breadth, then the prudent thing to do is to wait for a potential retest of the neckline before considering a move toward the downside. In the meantime, be defensive and be cautious as the market attempts to re-establish a near term direction.

Continuation

The market is still continuing to consolidate for the next potential upward move. In this video, a review of the market's price action and some potential near term moves for these momo stocks: AAPL, FB, AMZN, GOOGL, TSLA, NFLX & TWTR.

A Perfect Storm For The Market?

Next week, some large cap tech stocks are schedule to report their earnings, and the FED is meeting to decide the next move on US interest rate along with lots of economic reports. It could be lining up for a perfect storm for the market to make a big move in either direction.

In this video, we will look at some possible price action for the market and the following momo stocks: AAPL, FB, AMZN, GOOGL, TSLA, NFLX & TWTR.

Which Party Is Responsible?

As the 2016 US Presidential election approaches, Americans are being bombarded with politically biased materials to point finger at the opposing party for the country’s lackluster economic performance, and to compare historically how the US economy performed better under a particular political party. The truth of the matter is both political parties are equally responsible for our country’s mess. There are materials presented to highlight how the stock market had performed better under one political party in power than the other political party. The bottom line is this, “Did either political party made you, your children and your grand children more financially secure for the future?”

If you really love your country, then focus on how to fix our political system instead of laying blames at the opposing party! And don't forget to vote and exercise your rights.

"If you don't vote, you can't complain!"

Here are some views on how both parties are equally responsible for our country’s financial situation.

Mid Week Market & Stocks Update - 4/19/2016

A brief update on the market and these momo stocks: AAPL, FB, AMZN, GOOGL, TSLA, NFLX, TWTR.

Unsettled

The market continues to be unsettled as it is attempting to make a turn. Since the DJI & SPX made a new closing low on Feb 11, 2016 off from their all time closing high, the breadth has been improving. Recently, that improvement appears to have stalled and the breadth started to show some divergence. In addition to a diverging breadth, the non-confirmed recovery high based on the Dow Theory remains unresolved. Until the divergence and the non-confirmation issues are resolved, one should continue to be on the defensive and be very selective on either side of the trade, long or short.

Market Iterates Cautionary Message

Today’s price action in the market might be viewed as dull to some participants, but the message it sent was very informative to the market watchers.

Was It An April Fool And What Just Happened?

Did you see what the market did on April 1, 2016? No, it was not an April fool. It was a positive close with negative breadth. You might ask what does that mean. Well, if you have been following and/or trading the market for the last couple of weeks, then you have already experienced it; the pullback. Before April 1st, there was a non-confirmed Dow Theory recovery high on March 29, and that was the first message the market sent out to alert us to be cautious. When the positive close with negative breadth occurred on April 1, the market told us to be prepared for pullback. Since April 1, the market had a mild pullback with the SP500 losing 30.79 points or 1.48% on a closing basis and negative for the year, while the DJI lost 236.34 points or 1.3% but remains positive for the year.

Nothing Is New!

The market continues to climb higher as many market participants continue to ponder on when it will rollover and experience a sizeable correction to remove the excess. Many have put forth technical corollaries to point out the similarities from the past and the consequences it might hold. Numerous price derivative indicators highlighting excessive overbought have been published to support the cries for a correction from these market participants.

Back In Sync

Yesterday I warned about the negative divergence that the market has been displaying for the last couple of trading sessions, and this negative divergence needs to be resolved or another extended pullback such as the one we have experienced from May 19, 2015 to February 11, 2016 could appear.

Caution!

The market has been holding on to a negative divergence in the last couple trading sessions. Today, the market sent a non-confirmed recovery high with negative breadth message to warn of potential change in direction. Until this divergence has dissipated, be very cautious on overly extended toward the long side. If this negative divergence does not get resolved soon, be prepared for a possible extended downward move. Last time the market sent out this similar message was on May 19, 2015, and the Dow Jones Industrial did not see a higher high since and only on February 11, 2016 when the Dow Jones Industrial put in a non-confirmed low to start this recent rally. Will today’s message result in a similar outcome as the May 19, 2015? We just have to wait and see.

Just a reminder, tomorrow the FOMC will announce its latest decision on interest rate, and Chairwoman Yellen will hold a press conference after the FOMC meeting. Beware of potential increase in volatility!

Coming Through

The market is coming through the level we've been monitoring, the September 2015 FOMC pivot high. Last week, market did a minor pullback after five consecutive up days and then it resumed it's upward move toward weekly OpEx. Next week, FOMC will hold its March meeting and the anticipation is there will not be another rate hike in March. As the meeting approaches, the market could experience an increase in volatility. Therefore, one should remain cautious and do not attempt to trade in front of the FED as anything can happen. Always expect the unexpected.

Time For A Pause

The market has been up for four consecutive day and it could be time for a pause before it continues to move higher.

In this video, a review of the market’s price action along with these momo stocks: AAPL, FB, NFLX, TWTR, AMZN, GOOGL, TSLA, and the crude oil, gold, long term treasuries and the US dollar futures.

Resolved

Today’s rally has resolved the concerns that I have expressed in the post "Likely To Go Higher". The divergence between the DJ Industrial and the DJ Transportation has been rectified and the Dow Theory non-confirmed low remains to be valid. More importantly, the breadth indicator that did not provide the confirmation came through with a validation that the current upward move is supported by market breadth.

Here are the updated charts for DJI, DJT and SPX. The levels below the price are potential supports and levels above the price are potential resistance/target.

Likely To Go Higher

One thing I have learned a long time ago is that the market will never ring the bell to inform us it has made a top or a bottom, or it has changed direction. I also have learned the market never hides its intention and it will always let us know what it plans to do. What it doesn’t tell us is where, when and how.

Market Still Hanging On

The market still hanging on after a nice bounce off the recent low near 1800. Although the SP500 did not get above the potential double bottom pivot, it hasn't collapsed back to the recent low. It could be simply digesting some of the recent gains before it makes another attempt to break above the pivot high and move to retest last September FOMC meeting level near 2020 on the SPX.

In this video, a review on what the crude oil, gold and the stock market did last week and what to monitor for the coming week. In addition, a review of the following MOMO stocks: AAPL, FB, NFLX, TWTR, AMZN, GOOGL & TSLA.

It's Not All Magic!

Sometime things do appear to be magic, but do not be fooled, there is nothing magically about the market. The market is a reflection of the human emotion; how it react to various news announcements, geopolitical events, rumors, etc. If one simply focus on the price action and how it is being auctioned up and down, then one can see there is nothing magically about the price, it is all about what the market participants perceived as value.

In this video, we will look at the futures for crude, gold, bonds, US dollar, the indices along with the cash indices to get a sense where it might be headed in the near term. In addition, we will look at these MOMO stocks: AAPL, FB, NFLX, TWTR, AMZN, GOOGL, TSLA, and see what they might do in the near term.

The Magic Of Symmetry

The world operates in a mysterious way. There are things that just can’t be explained and act as it is magic, and one of those things is the Fibonacci symmetry.

A Negative Start

February started with a negative tone. The SPX ended the week by losing 60.19 points or -3.1%. New low still outnumber new high, but the advance/decline is holding up while the index is making lower low. This slight positive divergence could be signaling a near term bounce.

Move On Up

After Friday's rally, many market participants were disappointed on Monday by a lack of follow through rally. Instead of a rally, the market sold off on Monday and that prompted many market participants to question once again whether the market is entering into a bear market.

Magic Carpet Ride

Here is what has transpired for the SPX, ES_F and the SPY. Hope you are enjoying the magic carpet ride!

The Magic Continues

The market continues to hold above its 1/20/2016 low and appears be headed higher in the near term. Take a look at the following charts and observe how the price converges toward a particular level, sometime it seems like magic!