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InTheMoneyStocks Day Trading/Swing Trading Market Moving Action

Discussion in 'Trade Journals' started by inthemoneystocks, Apr 5, 2016.

  1. Nicho

    Nicho Member

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    Gold Miners Retreat, Where Is The Next Major Buy Level? $GDX

    Recently, the leading gold mining stocks have pulled back from their recent highs. The Vaneck Vectors Gold Miner ETF (NYSE:ARCA: GDX) topped out on September 4th 2019 at $30.96. Since that high pivot, the GDX has pulled back to its 50-day moving average around $27.91. Traders and investors must now watch the $26 level to be tested. this level was where the last breakout took place and often the institutional money will defend this area initially when retested. Other support levels below the $26.00 area include the $24.00 and $22.00 levels. Obviously, the $22 area will be my ultimate buying opportunity. This is where the GDX broke out to the upside despite having a bearish weekly base on the charts in May 2019. This level is where the institutional money is heavily invested and where they will usually step in again to defend the equity.


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    Nick Santiago
    InTheMoneyStocks
     
  2. inthemoneystocks

    inthemoneystocks Active Member

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    ALERT: $SPY Breaking Key Support. Here Is How You Profit From It…

    The $SPY just broke through a key near-term support level.


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    Gareth Soloway
    InTheMoneyStocks
     
  3. inthemoneystocks

    inthemoneystocks Active Member

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    Alert: Trade Setups From A 20+ Year Pro

     
    Bodacious likes this.
  4. Nicho

    Nicho Member

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    Just Trade It! CTRP, WEN, HDS, F & More In Play

     
  5. inthemoneystocks

    inthemoneystocks Active Member

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    Financial Stocks Rip, But Hit Resistance Here $JPM

    Shares of JPMorgan Chase (JPM) and other banks/financial stocks surged for the third day in a row as interest rates spiked again. Higher interest rates mean more profit potential for the banks. While a beautiful bullish run, investors may want to temper their expectations of further near-term upside. JPMorgan slammed into a triple top today. This will likely result in a pause or consolidation period for up to a week before it can move higher. In addition, investors and traders will do well to remember the Federal Reserve meets next week on interest rates. This adds an extra layer of risk to the bank stocks. One wrong word from the Fed and banks could tank. If you are looking for further upside in JPMorgan, watch for a consolidation period (known as a bull flag). If this forms, there is significant upside to JPMorgan upon a break of the triple top.


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    Gareth Soloway
    InTheMoneyStocks
     
  6. Nicho

    Nicho Member

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    Here's Today's Morning Trading Action! ZS, GME, PLAY, RH & More

     
  7. Nicho

    Nicho Member

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    Waste Management $WM Has Trashed This Week, Here’s The Trade

    Waste Management Inc (NYSE:WM) stock topped out on September 5th, 2019 at $121.76 a share. Since that high pivot, the stock has declined by more than 7.0% to $112.26 a share. Traders should also note that the stock is now trading below its August 5th pivot which was a very strong support area. The stock is now getting a bit oversold on the daily chart so there will likely be some short term bounces, but lower prices are ultimately in the cards. One level that has caught my eye as major support is around the $102.00 area. This is where there is a major gap fill from May 31, 2019. There is also support from the 50-week moving average on the chart. This area should be solid for a long side swing trade in WM stock.


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    Nick Santiago
    InTheMoneyStocks
     
  8. Nicho

    Nicho Member

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    The ECB Issues More Monetary Easing, Now Lets Trade! ORCL, TLRD, ACB. YELP & More In Play

     
  9. Nicho

    Nicho Member

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    Here’s The Next Major Gann Level For Slack $WORK

    Throughout my trading career I have been able to isolate a lot of tops and bottoms in the market. one of my primary tools for doing this has been by using many of the techniques from the legendary WD Gann. While I prefer to use conventional technical analysis along with Gann techniques sometimes when trading new issues there isn’t enough chart data to work with. In that case, I will often just use the Gann techniques as a stand alone method.

    Recently, one of the hot IPOs, Slack Technologies (NYSE:WORK), has come under heavy selling pressure. The stock debuted on June 20th 2019 and traded as high as $42 a share. Since that day, the stock has plunged and is currently trading a $25.05 a share. Many traders and investors are now wondering where the stock could bottom. While we don’t have a lot of chart data to work with the Gann wheel tells me that the stock should find solid support around $20.50 level. Now I will be looking for a bottoming pattern when the stock reaches that price area. Stay tuned and keep Slack Technologies (NYSE:WORK) on the radar.


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    Nick Santiago
    InTheMoneyStocks
     
  10. inthemoneystocks

    inthemoneystocks Active Member

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    Sell: Apple $AAPL Hits Key Level

    Shares of Apple Inc. (AAPL) tagged a major trend line connecting the last three pivot tops going back to April 2019. This likely means near-term resistance and a level to expect a pull back. I grabbed some $AAPL puts and added a swing short. While the line is getting pierced, it should not matter. Multiple metrics signal overbought. Add in the chart level tagged, the robot in me pulls the trigger.

    Apple has been on a serious bull run as trade war relations have warmed in recent weeks. The stock was trading at $192 in early August 2019 and now sits above $225.00. Investors are banking on President Trump willing to give in on the trade detail to help his re-election campaign. Thus Apple nearing its all-time highs again. However, I am not sold on that and expect more hiccups before it is settled.

    Based on the stock chart hitting the key trend line, I am expecting a pull back on Apple to $215.00 near-term. This is where I would likely take profits on my puts. I plan to hold the swing trade for a bigger move lower to $180.00


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    Gareth Soloway
    InTheMoneyStocks
     
  11. inthemoneystocks

    inthemoneystocks Active Member

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    Semiconductor ETF Nears Double Top

    Shares of the semiconductor ETF $SMH inched towards double top on the daily chart. This is a classic resistance point on any chart. Expect a pull back in the semi’s in the near-term once double top is tagged/pierced. Markets continue to hope for a trade deal and are factoring in one in now. The market is also expecting no US recession and an extremely accommodative Federal Reserve. With hopes high in all regards, expect the rug to get pulled next week into options expiration.


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    Gareth Soloway
    InTheMoneyStocks
     
  12. inthemoneystocks

    inthemoneystocks Active Member

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    New Trades, Market Analysis From 20+ Yr Pro

     
  13. Nicho

    Nicho Member

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    Friday's Market Trading Action: AVGO, AAPL, LUV & More In Play

     
  14. inthemoneystocks

    inthemoneystocks Active Member

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    Microsoft $MSFT Forms Nasty Bear Flag

    Shares of Microsoft (MSFT) are putting in a nasty bear flag daily stock chart formation. Technical traders know that this signals a sharp downside move coming in the stock. Based on calculations, the downside technical target is $120.00. The flag pattern itself will trigger when Microsoft trades below $135.00 on a daily closing basis. Note the stock chart below. Investors and swing traders can short the tech giant on a close below $135.00. Based on the chart pattern, it should trigger within days. If the pattern fails, it will be noted by a close above the all-time high of $141.68. This is a great risk/reward setup. Upside risk is under $7, downside target is $15.


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    Gareth Soloway
    InTheMoneyStocks
     

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