Market Updates

SPDR S&P500 Index ETF (SPY) weekly ​​​​​​​ Continue to hold. Looking at the weekly chart you can see the first buy signal we made on SPY, November 29, 2011, three months after our web site went live. Up about 100% on that initial recommendation. SPDR S&P500 Index ETF (SPY) daily Looking at the daily chart of SPY you can see price bounced off of the congestion zone, cleared the top of last Wednesday's pullback and almost filled the gap between last Tuesday's close and last We … [Read more...]

If you read last week's update Market Update and Recent Trade Commentary, then you'd know we were up on 11 out of 13 of our recent trade recommendations. It's time to cut losses on one of the losers. Regency Centers Corp (REG) weekly Price has violated primary support, the upwards sloping white line. I recommend selling it and taking the 8% loss. If you follow price patterns, this is a good head and shoulders formation, another reason to sell. It's probably a good short sell … [Read more...]

We recently closed out of XLE for a modest gain. Price is now at a better support level to get long again. The monthly chart from the low in 2002 shows good primary support; the upwards sloping green trend line. SPDRs Select Energy ETF (XLE) monthly ​​​​​​ The weekly chart confirms this price zone as a valid support level as well. SPDRs Select Energy ETF (XLE) weekly ​​​​​​​ The daily chart had a nice pop on Friday. SPDRs Select Energy ETF (XLE) daily The other good n … [Read more...]

I am adding to position in TESLA. Price has bounced off support; the green horizontal line. Tesla Inc (TSLA) daily If price closes below support for more than one day...get out. I will let you know. Hold all other open positions. Trade Smart, Don … [Read more...]