Posts Tagged ‘Stock Analysis’

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In another two-for, StockTock.com discusses today’s weakness and our outlook for the days and weeks ahead. I believe today’s action was very revealing. We saw forced selling followed my strong volume buying at the close to save triangle support. Smart money is getting into this market in preparation for the counter-trend rally on the horizon. I check out some intraday charts for clues as to which stocks and sectors may lead the pending rally higher. The VIX had a volatile day as its October options expired. I wonder what the VIX on the VIX would have been today? I spend some time in today’s video looking at a lesson learned from a deceiving inverse head and shoulders pattern this afternoon. Definitely some good takeaways there. I was so caught up with the Inverse H&S pattern, I forgot to consider that the 50MA on the ES 10-minute would serve as strong resistance. As extended as the US Dollar is, I am hesitant to fight the only bull market in town. The 60-minute chart looks healthy. Oil is so tempting to bottom-call, but there’s just no sign of a reversal. I’m staying away. Same with gold – it will take an impressive reversal this week to save important long-term support levels. We look at ESZ8, VIX, WFC, XLF, XHB, IYR, GLD, GDX, OIH, EEM, QQQQ, AAPL, RIMM, USO, and UUP. Make sure you watch both videos!

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