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.

$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.

$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.

 

 

 

30.05.2017 – Choppy action

         

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.

 

Market Update 18.05.2017

S&P500 :

The prior pivots for trading are 2405.77 and 2321.25 on SPX (240.67, 231.50 for SPY ) which are also the highs and lows on weekly chart of the last 3 months on SPX. Don’t get too bearish until SPX broke and hold below 2322.25 .

NASDAQ :

        

The prior pivots for trading this week are $139.64 and $133.82 on QQQ ($56.13 – $53.63 for XLK) .Bulls should step in at $133.82, if this didn’t happen we may see a move to $130.40 or $129.25 .

Financial : 

Next spot to watch is $22.90 , if bears broke and hold below we can go to $22.50 or we may see more significant downward action to $21.90.

Biotechnology :

As biotech fail to maintain gains and gain power for further upside action in March and May we may see a move down below $286. Don’t get too bearish until market will broke and hold above this level.

 

05/01 – 05/05 Technology

     

The prior pivots for trading this week are $136.34 and $133.80 on QQQ ($54.49 – $53.63 for XLK) . As long as QQQ hold $133.80, stay bullish and watch for follow through to clear $136.34 level trading strong stocks, but be patient if we will go above 136.34 because we are overbought and we may need more time for rest . If bears build up power and broke $133.80 , see if they hold and watch for follow through trading weak stocks.

Strong stocks : 

MSFT, FB, GOOGL, GOOG, V, MA, ADBE, PYPL, AMAT, YHOO, ATVI, HPQ, EA, GLW, FISV, WDC, APH, LRCX, SYMC, ADSK, LVLT, HRS, JNPR, SNPS .

Interesting for long : 

NTAP, CSRA, AKAM .

Weak stocks :

T, VZ, IBM, ADI .

Interesting for short :

SWKS .

Lagging :

AAPL, CSCO, CRM, INTC, ORCL, AVGO, NVDA, CTSH, INTU, MSI .

 

 

04/03 – 04/07 Technology

   

In despite of fact that most sectors are weak, last week we have sow strenght in QQQ making new HH, but XLK are laging. This is why I will be neutral next week about technology in general and take action only after a new pivot.

The prior pivots for trading this week are $132.74 and $129.38 on QQQ ($53.66 – $52.17 for XLK) . Stay neutral and watch if we hold or broke $129.38 . If we broke and hold below $129.38 watch for follow through to $127.75 trading weak stocks. If bulls build up power, stay bullish and try to play this buying pullins in strong stocks or trade best acting of them.

 

 

 

03/27 – 03/31 Technology

    

Technology sector was one of the strongest since post Trump election until he make last week a new LL . From now we are bearish until market will make a new HH.

The prior pivots for trading this week are $132.43 and $129.68-$129.38 on QQQ ($53.66 – $52.55 for XLK) . As long as QQQ hold below $132.43, stay bearish and watch for follow through to clear $129.38 trading weak stocks, but be patient if we will go below 132.43 because we enter oversold area and we may need more time for rest . If bulls build up power and broke $132.43 , see if they hold above and watch for follow through.

Strong stocks : 

AAPL, MSFT, FB, CSCO, TXN, ADBE, NVDA, YHOO, AMAT, ATVI, MU, LRCX, SYMC, SWKS, CHRP, KLAC, SNPS, QRVO.

Weak stocks :

GOOGL, QCOM, BIDU, INTU, PAYX, XLNX, STX, IBM.

03/20 – 03/24 Technology

      

Technology sector remain to be one of the strongest since post Trump election.

The prior pivots for trading this week is $132.41 and $130.76 on QQQ ($53.62 – $52.84 for XLK) . As long as QQQ hold $130.76, stay bullish and watch for follow through to clear $132.41 level trading strong stocks, but be patient if we will go above 132.41 because we enter overbought area and we may need more time for rest . If bears build up power and broke $130.76 with also means broke off up chanel, see if they hold and watch for follow through to $130.20 and after to $129.50.

Strong stocks : 

TMUS, AVGO, TXN, MU, ADI, SWKS, MXIM, AMAT, LRCX, KLAC, TEL, APH, AAPL, NTAP, CSCO, FFIV, ATVI, SYMC, CHKP, ORCL, RHT, ADBE, CTXS, SNPS, ADP, FISV, PAYX, FB, EBAY, NTES.

Weak stocks :

CTL, FSLR, IBM.

 

03/13 – 03/17 Technology

      

Technology sector remain to be one of the strongest since post Trump election.

The prior pivots for trading this week is $131.68 and $129.38 on QQQ ($53.22 – $52.17 for XLK) . As long as QQQ hold $129.38, stay bullish and watch for follow through to clear $131.68 level trading strong stocks, but be patient if we will go above 132.20 because we enter overbought area (53.45 for XLK ) . If bears build up power and broke $129.38, see if they hold and watch for follow through to $127.72 level. Also a close below 130.14  ( 52.55 for XLK )  can give to us a higher probability of a down move, so be patient.

Strong stocks : 

TMUS, ADI, LLTC, MXIM, NXPI, QRVO, SWKS, TXN, XLNX, AMAT, KLAC, LRCX, TEL, TRMB, APH, NTAP, COMM, CSCO, LITE, ATVI, EA, TTWO, CHRP, DVMT, ORCL, RHT, SYMC, VMW, ADBE, CDNS, INTRU, PTC, SSNC, ADP, FIS, CSC, TDC, FB, MOMO, SHOP, YHOO, FTV, JD.

Weak stocks :

FSLR, NVDA, WDC, ACIA, PANW, DATA, CTXS, WDAY, IBM, AKAM, BIDU, GRUB, TWLO, WB, YELP, NLSN, CCI, IRM, TRIP.

03/06 – 03/10 Technology

      

Technology sector remain to be one of the strongest since post Trump election.

The prior pivots for trading this week is $131.68 and $129.38 on QQQ ($53.16 – $52.17 for XLK) . As long as QQQ hold $129.38, stay bullish and watch for follow through to clear $131.68 level. If bears build up power and broke $129.38, see if they hold and watch for follow through to $127.72 level. Also a close below 229.66  ( 52.27 for XLK )  can give to us a higher probability of a down move, so be patient.

Strong stocks : 

CDNS, MBLY, TDC, ATVI, DBD, STX, TRMB, LDOS, CSCO, PTC, FNSR, TTWO, AMAT, FTV, COMM, SHOP, ORCL, TMUS, NTAP, LLTC, YHOO, CSC, LITE, APH, TXN, FIS, ADI, EA, NXPI, ADP, LCRX, IBM, ADBE, INTU,. FB.

Weak stocks :

NVDA, GIMO, YELP, TRIP, QCOM, AKAM, PANW, BIDU.

 

02/27 – 03/03 Technology

     

The technology sector has proven to be one of the strongest since post Trump election, only showing little weakness with stocks like NVDA, TSLA and BIDU dropping down last week after earnings . However, there are many other stocks like AAPL and FB that are doing very well. The prior pivots for trading this week is $130.70 and $129.38 on QQQ ($52.65 – $52.17 for XLK)  which are also the highs and lows on weekly chart of the last week. As long as QQQ hold $129.38, stay bullish and watch for follow through to clear $130.70 level. If bears build up power and broke $129.38, see if they hold and watch for follow through to $127.72 level.

But in spite of this, we are little extended so we need to be patient trading tech stocks. In case of gapping up on monday above $130.70 level or in another day after clearing this level, we may see a move down in that day as we move in overbought area.

Strong stocks : 

FB, AAPL, BABA,  AMZN, GOOGL or GOOG .

Weak stocks :

NVDA, TSLA, BIDU .