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.

 

Market Update 18.05.2017

S&P500 :

SPYD1

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 :

QQQD1        XLKD1

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 : 

XLFD1

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 :

IBBD1

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

QQQ     XLK

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

QQQ   XLK

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

QQQ    XLK

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

QQQ      XLK

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.