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Posted by Courtney Smith on June 29, 2017 at 06:00 AM in Courtney Smith, Forums, General, Investing | Permalink | Comments (0)
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Last week I wrote: "Technically we can see the index far away from all averages. The index reached the nearest 161.8% Fibonacci target coming close to the upper side of the up moving pitchfork. We should expect some pullback the coming weeks. The correction now may just be a horizontal move. But I think a correction towards 2400 and the 50-day average seems to be the minimum. My advice remains to swing trade short term. Many things are happening in the world these days that may change everything from one day to the other. Do not put everything at risk! Please read my comments on the weekly chart and monthly chart for more information regarding the longer term view."
Monday started with a gap up closing the day with a new higher high. The gap was closed on Wednesday and some recovery on Friday closed the week a fraction higher. I can only repeat: the index reached the nearest 161.8% Fibonacci target coming once more close to the upper side of the up moving pitchfork. There is a negative divergence between the index and both the Stochastic RSI and the price stochastic. We should expect some pullback the coming weeks. This correction may just be a horizontal move. But I think a correction towards 2400 and the 50-day average seems to be the minimum. My advice is to swing trade short term only. Please read my comments on the weekly chart and monthly chart for more information regarding the longer term view.
Sylvain Vervoort http://stocata.org/
Posted by Sylvain Vervoort on June 24, 2017 at 02:13 AM in Sylvain Vervoort, Technical Analysis | Permalink | Comments (0)
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Posted by Courtney Smith on June 20, 2017 at 04:58 PM in Courtney Smith | Permalink | Comments (0)
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Posted by Courtney Smith on June 20, 2017 at 05:33 AM | Permalink | Comments (0)
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Last week I wrote: "Last week I mentioned: "Technically we can see the index far away from all averages. The index reaches the nearest 161.8% Fibonacci target coming close to the upper side of the up moving pitchfork. We may expect some pullback the coming week." We got a pullback towards 2415 and closed at 2431. For the coming week I expect a further reaction down in first instance towards 2400 and medium term possibly 2200. My advice remains to swing trade short term. Many things are happening in the world these days that may change everything from one day to the other. Do not put everything at risk! Please read my comments on the weekly chart and monthly chart for more information regarding the longer term view."
Technically we can see the index far away from all averages. The index reached the nearest 161.8% Fibonacci target coming close to the upper side of the up moving pitchfork. We should expect some pullback the coming weeks. The correction now may just be a horizontal move. But I think a correction towards 2400 and the 50-day average seems to be the minimum. My advice remains to swing trade short term. Many things are happening in the world these days that may change everything from one day to the other. Do not put everything at risk! Please read my comments on the weekly chart and monthly chart for more information regarding the longer term view.
Sylvain Vervoort http://stocata.org/
Posted by Sylvain Vervoort on June 18, 2017 at 01:13 AM in Sylvain Vervoort, Technical Analysis | Permalink | Comments (0)
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Posted by Courtney Smith on June 16, 2017 at 02:12 PM in Courtney Smith, General, Investing, Stock Market, Systems Trading, Trader Psychology | Permalink | Comments (0)
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Please check out today's educational video. "The Most Important Webpages For Trading" Click here!
Posted by Courtney Smith on June 14, 2017 at 08:50 AM in Courtney Smith, ETFs, Forex, General, Investing, Risk Management, Stock Market, Video, Webinars | Permalink | Comments (0)
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Friday’s tech savaging continues today. The NASDAQ has already dropped almost 5% from high to low in just two days.
The size of the move on Friday combined with the heavy volume suggest that this is a major high for the index. We are seeing other sectors, such as consumer staples and utilities rallying sharply as investors move from tech to safe havens.
I liquidated nearly all my tech position by Monday and will wait until I think of investing in this sector soon from a position perspective.
But, as a swing trader, I’ll be buying Facebook (FB) if it closes higher on the day. Right now, as I write this, we are seeing an initial plunge but now FB is rallying sharply. This type of price action usually leads to a pop to the upside that is very traceable and I look to make some money. I’ll be taking profits of about $4 per share at about 151.00.
This swing trading style is the subject of a free video training I just posted. You can watch if free by clicking here.
Or go to CournteySmith.com/tec-tantrum/
Posted by Courtney Smith on June 12, 2017 at 05:57 PM in Candlesticks, Courtney Smith, General, Investing, Sector Trading, Technical Analysis, Trader Psychology | Permalink | Comments (0)
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Last week I wrote: "June 1 and 2 we are reaching new tops. Long term the index is still in an up move nicely following the median line of the long term pitchfork. Still I advice to be careful, the market is I believe not stable. With the new US president anything may change the market from one day to the other. Try to swing trade the shorter term. Technically we can see the index far away from all averages. The index reaches the nearest 161.8% Fibonacci target coming close to the upper side of the up moving pitchfork. We may expect some pullback the coming week. I have installed a new PC and I am in trouble making everything to work again. My charts are not updated with my indicators. I will try to solve it the coming week. Please read my comments on the weekly chart and monthly chart for more information regarding the longer term view."
Last week I mentioned: "Technically we can see the index far away from all averages. The index reaches the nearest 161.8% Fibonacci target coming close to the upper side of the up moving pitchfork. We may expect some pullback the coming week." We got a pullback towards 2415 and closed at 2431. For the coming week I expect a further reaction down in first instance towards 2400 and medium term possibly 2200. My advice remains to swing trade short term. Many things are happening in the world these days that may change everything from one day to the other. Do not put everything at risk! Please read my comments on the weekly chart and monthly chart for more information regarding the longer term view.
Sylvain Vervoort http://stocata.org/
Posted by Sylvain Vervoort on June 10, 2017 at 08:06 AM in Sylvain Vervoort, Technical Analysis | Permalink | Comments (0)
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Posted by Courtney Smith on June 10, 2017 at 06:55 AM in Courtney Smith, General, Investing, Risk Management, Technical Analysis, Webinars | Permalink | Comments (0)
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Posted by Courtney Smith on June 9, 2017 at 12:12 PM | Permalink | Comments (0)
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Have You Ever Thought About Quitting Your Job?
Posted by Courtney Smith on June 7, 2017 at 09:17 AM in Courtney Smith, General, Indicators/Oscillators, Options | Permalink | Comments (0)
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Posted by Courtney Smith on June 6, 2017 at 01:19 PM | Permalink | Comments (0) | TrackBack (0)
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Last week I wrote: "Last week I mentioned: "The target for the coming week is closing the gap around 2380, possibly down to the PP pivot of the current month and the 50-day simple moving average." Tuesday the market closed a fraction higher, creating a new top. However, Wednesday the gap was closed and the index even went down a bit further closing one more gap in this daily chart reaching the low side of the volatility channel. From that point there was a pullback to the upper side. The larger move down on Wednesday created another gap in the daily chart. Possibly this one will be closed before the downward move continues down to the first target around 2325. Please read my comments on the weekly chart and monthly chart for more information regarding the longer term view."
June 1 and 2 we are reaching new tops. Long term the index is still in an up move nicely following the median line of the long term pitchfork. Still I advice to be careful, the market is I believe not stable. With the new US president anything may change the market from one day to the other. Try to swing trade the shorter term. Technically we can see the index far away from all averages. The index reaches the nearest 161.8% Fibonacci target coming close to the upper side of the up moving pitchfork. We may expect some pullback the coming week. I have installed a new PC and I am in trouble making everything to work again. My charts are not updated with my indicators. I will try to solve it the coming week. Please read my comments on the weekly chart and monthly chart for more information regarding the longer term view.
Sylvain Vervoort http://stocata.org/
Posted by Sylvain Vervoort on June 4, 2017 at 10:00 AM in Sylvain Vervoort, Technical Analysis | Permalink | Comments (0)
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Posted by Courtney Smith on June 1, 2017 at 04:05 PM | Permalink | Comments (0) | TrackBack (0)
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