Stock Markets Analysis & Opinion


 

After Friday's sell-off, it was left to bulls to try and paint over the cracks. Shorts will be looking for a doji or bearish candlestick which fails to challenge the highs of Friday's selloff in the NASDAQ and .

bearish breakout bulls candlestick Friday gain index NASDAQ spike week

 

While I'm on hiatus through June 15, I wanted to weigh in ahead of Wednesday's U.S. . The tone should be a key tell as to whether the current dip in tech should be bought aggressively or whether it should be bought in bits and with patience.

big bought call cap day NASDAQ options stock strategy tech

 

The so-called "tech wreck" ended after only two days, clearing the way for the major indices to get back to logging new highs.

Surprise Trader: “It looked like it was going to be another rough day for tech, as early gains evaporated in the first hour of trading.

highs hike market NASDAQ PENN portfolio tech trader trading Zacks

 

The opened Tuesday above Monday's close and slowly climbed throughout the day, ending with a 0.45% daily gain. Tuesday's selling puts the volume 2% above its 50-day moving average.

closing day intraday Monday moving opened puts scale Tuesday volatility

 

I will update around 6:55 a.m.

After Friday’s strong reversal up from a sell climax, yesterday formed a trading range day.

Since the Emini has been in a tight trading range with dojis for 6 days, the odds are that all moves up and down on the 5 minute chart will be swings lasting 1 – 3 hours instead of the start of a trend.

addition climax Doji Emini Friday minute odds tight tomorrow trading

 

The has done well this year, up almost 8% as we near the half-way point of the year.

As each lags the broad market year to date, their performance at (1) could impact the large caps.

cap catch half higher Mid Outperform pattern positioning small way

 

After closing at 2428.00 on Friday, the (ESU17:CME) sold off Sunday and into Monday morning, down to 2419.75, and then short covered just before the 8:30 open.

By 10:20 CT the ESU traded all the way up to 2426.00, and the NQU had traded back up to 5727.75, then in came another round of selling, pushing both futures back down to 2417.75 and 5675.00 accordingly.

CME ES ESU futures higher market NQU started taking traded

 

NYSE: Support Levels Hold [0.04]

Posted on June 14, 2017, 12:16 a.m. by Stock Markets Analysis & Opinion @ [cached copy]

Guy S. Ortmann, CMT SPX Forward Earnings Estimates Drop Opinion: The indexes closed mixed yesterday with positive internals on the NYSE as volumes rose from the prior session while the NASDAQ saw negative internals but on lighter trading volume. No important chart events occurred aside from the MID making a marginally new closing high while the COMPQX (page 3) tested support and the SPX (page 2) gave a “bearish stochastic crossover” signal but has not violated support.

advisor charts earnings estimates internals negative NYSE page positive remain SPX

 

Controlled or prescribed burning...is a technique sometimes used in forest management, farming, prairie restoration or greenhouse gas abatement. Fire is a natural part of both forest and grassland ecology and controlled fire can be a tool for foresters.

bear broader controlled decrease likelihood fire market massive NASDAQ pullback stock

 

Will Apple Continue to Fall Far from the Tech Tree?

Do Investors No Longer See the iPhone maker as the Apple of their eye?

Apple fall investors iPhone market sell off stock tech top traders

 

2 Longs, 2 Shorts To Watch [0.11]

Posted on June 14, 2017, 12:12 a.m. by Stock Markets Analysis & Opinion @ [cached copy]

Two biotechs top our list of key charts to watch on the long side, while we also feature two shorts to play in this topsy-turvy market.

NantKwest (NASDAQ: ) had an explosive move through its declining topline and lateral resistance on Monday.

break channel gained lateral Monday NASDAQ resistance side stock top

 

InTheMoneyStocks.com Starbucks (NASDAQ: ) is a leading marketer and retailer of coffee products around the world. On Tuesday, Starbucks sat right on its 50-day moving average, which could be viewed as short-term support.

com InTheMoneyStocks leading levels major marketer NASDAQ retailer Starbucks stock

 

We have all seen the puzzles either when we were kids or even now taking our kids out to dinner on their kids meal menus.

The stock market often gives us similar puzzles to solve.

bullish buyers candle higher Kids NASDAQ puzzles QQQ reversal Volume

 

SPY Price Channel Likely Top [0.09]

Posted on June 14, 2017, 12:07 a.m. by Stock Markets Analysis & Opinion @ [cached copy]

SPY’s Pink Price Channel Set Up in 2016 but Failed to Break Out When It was Supposed to in December. SPY was then in its critical decision wave for the channel.

break breakout channel melt Pink rising Scenario SPY top up

 

The index has started the week with losses, dropping 0.89% on Monday.

The did not make any moves at last week’s meeting, but it did tweak its monetary stance.

ECB economy French losses Macron Monday NASDAQ rate release stock

 

Our intraday outlook is now bearish, and our short-term outlook is bearish.

The contract trades within an intraday downtrend, as it retraces some of its Friday's late session rebound, following an overnight consolidation.

Friday index lost marked market negative session short term stock trade

 

As I pledged on Friday, after my feckless (albeit profitable) dumping of QQQ (NASDAQ: ) puts, the NASDAQ is doomed at this point.

In any case, we can all rest assured that my exit from those QQQ puts will make me feel even more distressed and hapless than ever.

albeit doomed dumping feckless Friday NASDAQ pledged profit puts QQQ

 

The runaway freight train that is cryptocurrency prices kept barreling down the track over the weekend, with the two most popular cryptos — and — both setting new records and posting significant milestones.

Brian Kelly, CEO and founder of BKCM and a CNBC contributor, told CNBC this week that the cryptocurrency was “in the first years of what is likely to be a multi-year bull market.

Bitcoin BTC CNBC crypto Cryptocurrency ethereum factor growing surged year

 

The first full week of trading in June took a bite out of most markets. Only US real estate investment trusts (REITs) and broadly defined commodities bucked the downward trend for the last week, based on a set of representative exchange-traded products.

broadly commodities defined Exchange June markets one traded Vanguard year

 

As we’ve noted time and again, this market is NOT healthy.

All told, just five companies have accounted for nearly HALF of the market’s gains in 2017.

Amazon Apple companies Facebook gains Google market Microsoft NASDAQ noted