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Jeff Pierce
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I’m a swing trader of momentum stocks with a holding period of anywhere from a few hours to a few months. I run a number of screens to locate the strongest/weakest stocks out there, using technical analysis to determine my entries and exits. Trying to calculate the intrinsic value of stocks in... More
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  • Looking For A Rally Any Day Now

    By Liz DeMera

    I'm looking for a Oversold Rally as this 1st chart demonstrates the severe state of oversold that we have now. If were down again tomorrow, it would have a reading of -785 (red line) based on what is dropping off the moving average from 10 days ago.. The blue line is the 30 day which should be reaching a bottom between now and December 2nd as it still has some large numbers to work off.

    Secondly, the summation index has slowly been grinding down and finally picked up some speed today. It will need +4300 advancers to halt its slide and that is nearing extreme too. See the Summation Bar Chart Below and the NYSE Summation Index Chart.

    Lastly, we did have 193 new lows on NYSE and 132 new lows on Nasdaq which has slowly been increasing every day. Ideally you want less new lows on a lower low in price which would then become a positive divergence. In conclusion, the best case scenario would be a rally that sticks for a day or few days, then comes back down for a retest of the lows or takes out the price low and then we can check for positive divergences in many ways.

    (click to enlarge)(click to enlarge)

    (click to enlarge)

    This was written by @lizdemera , who uses stock market technical analysis to determine the markets possible future performance.

    Nov 18 12:30 AM | Link | Comment!
  • US Dollar Bumping Against Resistance

    Today's chart of the day from All About Trends is UUP which we'll use as the proxy for the US Dollar.

    (click to enlarge)

    11-14 We used to say dollar up-markets down, dollar down-markets up was all the rage and it still looks that way here, but see the USD? It's bumping up against a resistance zone, the 200 day average and overbought. Should the Dollar pullback, we'll see if the dollar down-markets up is still in play.

    (click to enlarge)

    Long Term View

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    The following is brought to you from All About Trends. Subscribers receive daily commentary and a weekend wrap-up. Experience our accurate market analysis, trading methodology, and stock selection to raise your equity curve for only $20 for the first two months. That is an incredible deal, but before you spend money, give our free newsletter a try to see what we're all about and grab a free report as well.

    Tags: UUP, UDN
    Nov 16 1:22 PM | Link | Comment!
  • Looking For A Minor Relief Rally

    t the open the markets dropped like a rock and have since bounced immediately. This was not surprising given the positive divergence that's was taking place on this 60 minute chart two times. First yesterday's low set up positive divergence as the RSI was higher than it was back on the 22nd of Oct, yet price made a new low. And yet today price made another new low and yet the RSI was even higher than yesterday's lowest point. Double Positive Divergence occurred, and while that alone isn't enough of a reason to assume the markets could bounce, add in a new moon today and you have reason to suspect we could see a minor trend change.

    The trend remains down so I don't view this as an opportunity to get long anything, as it is a time to use any rally to unload any remaining longs you may have and/or look for shorting opportunities. Until my timing signal changes, my stance will remain bearish.

    Red Circle (Long Term Signal turns bearish)

    Red Arrow - Issued a short trade alert to my free newsletter subscribers

    (click to enlarge)

    Tags: QQQ, DIA, SPY
    Nov 16 1:19 PM | Link | Comment!
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