Weekly Chart Analysis & Trade Ideas – 13.06.2017

 

 

As we see in charts of $QQQ and $SPY we have broken all time high with $DIA as leader last week. But on Friday (june 9) when markets had a significant move down we have seen that $DIA had a green day, from this reason we can say that now, $DIA, is the strongest segment in the market. Maybe we see a rotation of capital out from NASDAQ (growth companies) to $DIA if $QQQ will continue to underperform $SPY and $DIA.

$SPY : 

The prior pivots for this week are $245.01 and $242 . As long as SPY holds $242 stay bullish and watch for follow through to clear all time high.

spyD1

$QQQ : 

The prior pivots for this week are $143.90 and $137.48 . If bears want to continue they need to step in somewhere around $142 or $140.85 making a new downmove to $136. If they fail we may see new all time hi.

qqqD1

$DIA : 

The prior pivot for this week is $211.25 . As long as DIA holds $211.25 stay bullish and watch for follow through, but be patient if move will be too fast because we can enter overbouth zone somewhere around $214-$215.

diaD1

 

 

 

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30.05.2017 – Choppy action

QQQD1         DIAD1

SPYD1

As you see in charts of $QQQ and $SPY we have broke all time hi with $DIA lagging. In previous moves we have seen leadership in $QQQ and $DIA before SPY broke all time hi. . Now we see that $DIA is lagging and $QQQ is leader which can mean change of market sentiment so caution is warranted.

Also we are little overbought and i think we will need more time for a rest.

Prior pivots on SPY are 240.70 , 235.50 and 139.75 ,136 for $QQQ where next bounce may happen.

 

05/01 – 05/05 Dow Jones

DIA   DJI

The prior pivots for trading this week are 21169.11 and 20723.59 on $DJI (211.59, 207.03 for DIA ). Don’t get too bulish until we clear and hold above all time high 21169.11, trading strong stocks. If bears build up power and broke 20723.59. see if they hold and watch for follow through to 20400 ( 203.80 on DIA ), trading weak stocks.

Strong stocks : 

AAPL, BA, CAT, DIS, HP, MCD, MMM, MSFT, UNH, UTX, V, WMT.

Weak strocks : 

CVX, IBM, XOM, VZ .

 

04/03 – 04/07 Dow Jones

DIA       DJI

The prior pivots for trading this week are 20970.04 and 20412.8 on $DJI (209.43, 203.81  for DIA ). As long as $DJI hold below 20970.04, stay bearish and watch for follow through to clear 20412.80 and after to 20125, trading weak stocks. If bulls build up power and broke 20970.04, see if they hold and watch for follow through to 21169.11 ( 211.59 on DIA ), trading strong stocks.

03/27 – 03/31 Dow Jones

DIA     DJI

The prior pivots for trading this week are 20970.04 and 20529.67 on $DJI (209.43, 205  for DIA ). As long as $DJI hold below 20970.04, stay bearish and watch for follow through to clear 20529.67 and after to 20125, trading weak stocks. If bulls build up power and broke 20970.04, see if they hold and watch for follow through to 21169.11 ( 211.59 on DIA ), trading strong stocks.

Strong stocks : 

AAPL, CSCO, DIS, MCD, MMM, MSFT.

Weak stocks : 

AXP, BA, CVX, GS, IBM, JPM, TRV, V, XOM.

03/20 – 03/24 Dow Jones

DIA     DOWIDEX

The prior pivots for trading this week is 20986.43 and 20777.16 on $DJI (209.77, 207.86  for DIA ). As long as $DJI hold 20777.16, stay bullish and watch for follow through to clear 20986.43 and after to all time hi 21169.11, trading strong stocks. If bears build up power and broke 20777.16, see if they hold and watch for follow through to 20663.37 ( 206.60 on DIA ), trading weak stocks.

Strong stocks : 

AAPL, BA, CSCO, DD, DIS, HD, JNJ, MMM, MSFT, PFE, PG, UNH.

Weak strocks : 

CVX, IBM, XOM.

03/13 – 03/17 Dow Jones

DIA       DJI

Dow Jones is one the best performing index since Trump post election and as i said in my last market research  we have seen a momentum let-down last week, it looks like he may need a little more time to go to the upside.

The prior pivots for trading this week is 20986.43 and 20777.16 on $DJI (209.77, 207.86  for DIA ). As long as $DJI hold 20777.16, stay bullish and watch for follow through to clear 20986.43 and after to all time hi 21169.11, trading strong stocks. If bears build up power and broke 20777.16, see if they hold and watch for follow through to 20663.37 ( 206.60 on DIA ), trading weak stocks.

Strong stocks :

AAPL, CSCO, MSFT, V, TRV, GS, AXP, JPM, JNJ, MRK, PFE, UNH, PG, HD, DIS, MCD, MMM, BA, DD.

Weak stocks :

VZ, IBM, CAT, CVX, XOM.