Avalon Bay Communities (AVB) monthly Price broke trend line support and is down about 4% from entry. I recommend exiting this trade. There is major support at 149 represented by the horizontal red line. If price bounces there it might provide a better entry. Dow Telecommunications Sector ETF (IYZ) daily Continue to hold. It appears to be behaving well. Trade smart, Don … [Read more...]
Update on XLE
XLE is banging on resistance (orange horizontal line) again. It's the 4th time since late 2015. Will we get a breakout this week? SPDR Energy ETF (XLE) daily They are trying to bid it up and through $72. If price does break through it is likely to run up near $80 which would be the first target to harvest some gains. If you have any questions just send me an email or premium members can set up a call. Trade Smart, Don Roth … [Read more...]
Follow up on Monday’s Notes
Yesterday I shared a number of potential trade opportunities. These had all tagged or were approaching their primary support levels. Today, we're going to see how they reacted to support and if we received confirmation. Let's review the potential opportunities on yesterday's blog... *Head over to the website and full article for all the charts! See the charts here. Schwab US Aggregate Bond ETF (SCHZ) weekly Price opened and closed below support on Monday. This is bearish. We were … [Read more...]
Stock Market Pundits, Analysts and Prognosticators…”You’re Fired”!
They sure all got it wrong again. What 5%-10% correction in the days following a Trump victory? What a bunch of morons. When will they learn that it is IMPOSSIBLE to predict the market. I prefer evidence based investing. This is what I know to be true... There are inflection points in price action that can be taken advantage of. These inflection points can virtually pinpoint turning points in price like the bottom in 2003 and the bottom in 2009. These inflection points can also be … [Read more...]
Election coming; Fasten your seatbelts
It's about to get bumpy. The ETF that mirrors the S&P500, SPY, has broken the 2016 trend line; support shown as upward sloping blue line on chart (below). Granted, it's a pretty steep trend line, however, the fact that price violated this price zone is bearish. S&P 500 Index ETF (SPY) daily In addition, price is fast approaching primary support; the upward sloping white trend line from the bottom in 2009 (above and below charts). This rising support zone was broken earlier in … [Read more...]
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