Trading Strategy – Energy Select Sector SPDR ETF
One of the noteworthy developments in recent days has been the move in energy and energy related stocks. The groups were under selling pressure as soaring U.S. crude oil production and rising...
View ArticleTrading Strategy – Energy Select Sector SPDR ETF
One of the noteworthy developments in recent days has been the move in energy. Oil closed higher Monday following reports that a Saudi-led air strike killed the head of the Houthi rebels in Yemen...
View ArticleTrading Strategy – Energy Select Sector SPDR ETF
One of the noteworthy developments in recent days has been the move in energy and energy related stocks. WTI crude futures ended Thursday’s session up 50 cents at $68.43 per barrel, boosted by OPEC...
View ArticleTrading Strategy – Energy Select Sector SPDR ETF
One of the noteworthy developments in recent days has been the move in energy stocks. Crude-oil futures tumbled 4% following the reports that the Organization of the Petroleum Exporting Countries...
View ArticleTrading Strategy – Energy Select Sector SPDR Fund
Energy stocks caught a bid Tuesday after West Texas Intermediate oil futures broke above $75 per barrel for the first time since November 2014. The Energy Select Sector SPDR Fund (XLE) rose 0.4...
View ArticleTrading Strategy – Energy Select Sector SPDR ETF
Energy is one of the worst laggards on Thursday as losses in WTI crude oil futures pressure the group. October Crude Oil futures fell 1.37 percent to 67.81/barrel after U.S. data showed gasoline...
View ArticleMarket Internal Deteriorated But Support Remains Intact
market internals deteriorated as S&P moved down to test support at the 2900 zone. Nevertheless, this zone is too big and too important to fall quickly so it should not be surprising to see some...
View ArticleS&P Constrained by Short-term Sideways Trend
trading behavior in the S&P remains constrained by a short-term sideways pattern and shown little evidence of a sustainable change in trend. 2765 is the line in the sand. There is a no reason to...
View ArticleS&P Rally Attempt Failed at Formidable Resistance
S&P rally attempt failed at formidable resistance. If the index fails to hold above 2730 this week, then the next stop will be 2600 with the possibility of a brief breakdown below that level
View ArticleReturn of Oversold Condition Could Help Minimize Downside Follow-through
S&P broke key support Tuesday but return of short-term oversold condition on the daily chart could help minimize downside follow-through and widespread breakdowns
View ArticleS&P to See Strong Resistance near 2815
this week’s bullish breakout had helped putting the bulls back onto the driver side of the market but it doesn’t mean that we’re out of the woods. Over the next few days, we will look for trading...
View ArticleS&P In Process of Establishing Near-term Support Plateau
current price structure suggests that the S&P is in a process of establishing a near-term support plateau from where a new up-leg will base and climb in the days ahead.
View ArticleCautiously Optimistic
Monday’s upside follow-through confirmed last week’s bullish breakout and opened up for a test of the more important resistance near the 2600-2640 zone. Near-term technical backdrop has been...
View ArticleS&P Confirmed Breakout But Return of Overbought Conditions Will Keep the Lid...
S&P has confirmed a breakout above key resistance in a reflection of improved momentums. Nevertheless, the return of overbought conditions on intraday basis increases the probability for some...
View ArticleTraders Committed to Take S&P Up to 2800
while the overall technical backdrop remains bullish, recent rally has created overbought conditions. With this in mind, we’d look to reduce exposure into overbought strength, which might take the...
View ArticleS&P Constrained by Short-term Sideways Pattern
recent trading behavior in the S&P constrained by a short-term sideways pattern and shown little evidence of a sustainable change in trend. 2800 is the line in the sand. A failure to hold above...
View ArticleLooming S&P Breakout
the big picture remains the same. There is an orderly high level consolidation near S&P’s 2900, which represents digestion period. There is a high probability that the S&P will break out from...
View ArticleS&P Bearish Engulfing Pattern Signals Trend Reversal
Wednesday’s massive bearish engulfing bar suggested that suggested that S&P is at or very close to a significant short-term top. Near-term risk is to the downside. Traders should consider buying...
View ArticleS&P in Short-term Oversold Bounce
so far last week’s oversold rally has proved nothing as far as its staying power or as a possible trend reversal. While there is a high probability that the late-day rally will momentum but a close...
View ArticleExpect Some Backings and Fillings in Coming Days
market internal has been deteriorated as S&P moved down to test key support at the important sentiment 2800 zone. This area is too big and too important to fall quickly so it should not be...
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