NVDA Signals Potential 20% Move Coming! NVIDIA Corporation (NASDAQ:NVDA) has been roaring higher. In 2016, $NVDA has gone from $24.75 to a high this week of $47.50. That is a monster gain of 92%. Good news from the company mixed with massive short covering has created this insane pop. Pops of this magnitude are not sustainable. The stock will need to retrace before it can possibly think about going higher. The pull back may be at hand with the weekly chart showing a topping tail. Topping tails are very bearish signals. It essentially tells you that the amount of sellers are now bigger than buyers. With so many buyers still holding (the bag), many will get scared and sell creating more downside. This is a healthy pull back but can be profited from via shorting or put options. Note the chart below. Gareth Soloway InTheMoneyStocks
TWTR Near Breakout: 20 Percent Move Coming! Twitter Inc (NYSE:TWTR) is again attempting to close above the key gap window created on April 27th, 2016. This level is a technical point on the chart that is resistance. Remember, when resistance is broken, a breakout occurs. Momentum buyers jump in and a stock can surge dramatically. Ultimately, a breakout can take the stock from $15.30 to $17.75. Remember, $TWTR MUST close the day above the gap window of $15.30 to be considered a technical breakout. This is extremely important as the stock can trade above that level intra day with no importance. Gareth Soloway InTheMoneyStocks
ALERT: Small Cap Stock About To Break Out! InterCloud Systems Inc (NASDAQ:ICLD) has a history of meteoric runs. The stock ran from $1.45 to $4.75 approximately a year ago. $ICLD may be setting up for another one of these moves. Obviously, any micro stocks like this carry risk but the upside reward is big as well. Note the trend lines on the chart below. The stock price is just below them. A daily close above $0.85 potentially sets it free. An upside pop to $1.50 would be likely, perhaps more with momentum buyers. Keep it on watch. - - - Gareth Soloway InTheMoneyStocks
Do Markets Care About Copper Anymore? Today, copper prices are plunging lower by more than 3.0 percent. Yet, the financial news media barely talks about it. Years ago copper prices were followed closely by all stock market participants. In fact, the legendary trader Jesse Livermore used to say that copper prices were one of the most important commodities that anyone could follow. He would follow copper prices in order to predict future stock market direction. Traders can now track the action in copper by following the iPath Bloomberg Copper Subindex Total Return Sub-Index ETN (NYSEARCA:JJC). This morning, the JJC is trading lower by 0.87 cents (-3.59 percent). The current pattern on the daily and weekly charts looks very poor technically. The JJC is trading below its daily chart 50 and 200-day moving averages. The JJC peaked out in February 2011 at $61.69 a share. The next major support level on the JJC chart is the December 2008 low which was $17.97. It appears that the major stock market institutions no longer care about the price of copper. This former leading indicator remains extremely weak at this time and could be signaling further economic problems in China and other emerging markets. Until the copper price can form a definitive bottoming pattern it is best to steer clear of this commodity. We can only wonder if copper will ever matter again when it comes to predicting stock market direction? Nicholas Santiago Inthemoneystocks
Citigroup Inc (NYSE:C) Stock Chart Shows Major Pattern Citigroup Inc (NYSE:C) has a classic head and shoulder pattern showing up on the daily. Remember, head and shoulder patterns are bearish in nature and foretell downside action. Citigroup ($C) will break the neckline at $44.50. The calculated target fall takes the stock from down to $38.00, a 15% drop. Note the chart below. This also tells us that the financial sector may be in trouble in the next few weeks. Note the chart below. Gareth Soloway InTheMoneyStocks.com
