$JPM is dropping like almost everything else this morning. Day traders can watch the $109.10 area for intra-day support. Patern pending, this looks like a solid long scalp level right now - Nick S.
Goldman Sachs $GS Bounce Level Revealed Shares of Goldman Sachs (GS) have taken a nose-dive in the last week. Goldman was trading north of $230 just days ago, today it is below $210. A mix of worry over rates, the economy and their health have been the catalysts. Pro traders expect it to continue to fall to $199 before triggering a major technical support and bouncing sharply. Gareth Soloway InTheMoneyStocks
Tyson Foods Flops After Earnings, Here's The Trade Earlier today, leading food company, Tyson Foods Inc (NYSE:TSN), reported earnings that disappointed the street. The stock is trading lower by $3.50 to $58.09 a share. Traders and investors should note that the stock has been forming a bearish base on the larger times frame charts. This pattern still indicates further downside for the stock price. The next important support level that I see is going to be around the $52.00 level. This is where the stock was defended in January 2016 and it should be solid support when retested. The food company owns popular brands such as Tyson, Jimmy Dean, Hillshire Farm, Ball Park, Wright, Aidells and State Fair. Nicholas Santiago InTheMoneyStocks
Oil Crashes Into Major Support $USO Oil is crashing today. It has been crashing since the beginning of October 2018. The Unites States Oil Fd LP (USO) topped out at $16.25 at the start of October but now trades below $12.00. This is an over 25% collapse in a month. Today looks to be capitulation with panic setting in. This means it is likely putting in a bottom for a bounce. The technical chart confirms this, showing major support at $11.85 and $11.70. I expect a major bounce back to $13.00 on the $USO. Gareth Soloway InTheMoneyStocks
CNBC is telling everyone about the death cross on the Russell 2000 $IWM daily chart ( 50-MA crossing the 200-MA to the downside). Tonight, in the Research Center I'll tell you the right way to use it and everything you need to know to profit from it in the Daily Market Report, also what can make it fail - Nick Santiago
Home-builders Are Under Pressure Again, But Here's The Level For This Leading Stock $DHI As we all know, the leading home-builder stocks have been under severe selling pressure since late January 2018. Higher interest rates have been the catalyst for the decline in the sector. The Federal Reserve continues to signal that they will continue to steadily increase rates to a more normal level as long as the economy is strong. This action should keep the home-builder stock somewhat depressed for a bit. Many of the leading home-builder stocks have now fallen so much that they are actually looking attractive. One particular home-builder stock that I'm watching closely is D.R. Horton Inc (NYSEHI). This stock topped out at $53.32 a share in January 2018. Today, the stock is trading around $33.30 a share. Traders and investors should now watch the $30.50 area as the next major support level. This is where the stock staged a breakout in February 2017. Often, when stocks test past break-out levels they will be defended by the institutional money. This is where I will be looking to enter DHI stock on the long side. Nicholas Santiago InTheMoneyStocks
An Epic Trend Line Worth Watching On Apple Inc. $AAPL This trend line stretching back to 2012 is worth taking note of on Apple Inc. (AAPL). Based on its long-term strength, it is likely Apple will see major support around this $175.00 level and likely snap back to as high as $190. Note the chart below. Gareth Soloway InTheMoneyStocks
Buy The Dip Is Over, Now It's Time To Trade The Charts A fair case can be made that since March 2009 investors could have bought every dip in the market and made money. In the 2008 recession the S&P 500 Index bottomed on March 6, 2018 at 666.78. Since that time, the S&P 500 has soared by more than 340.0 percent peaking on September 21, 2018 at 2940.91. In fact, the term 'buy the dip' became very popular and kind of a household term with traders and investors over the past few years due to this huge advance. Now starting in October, we have seen a very sharp and nasty stock market correction taking place. Many investors and traders are calling this the start of the next great bear market. The new market saying that I have been hearing is sell the rips instead buy the dips. It's amazing how quickly things can change in the stock market. Over the past nine years, the trend has been your friend as almost every decline lead to a buying opportunity. In this environment, traders will need to find institutional support levels and then play the short term bounces. Until this recent stock market top it has been very difficult to sell the market short. Now in this environment, short selling is picking up and is a very good strategy if the correct pattern and resistance level can be found. Technical trading will now be talked about much more at this time than when the stock markets just went straight up nearly everyday. Now you will start to see the talking heads in the financial media referring to Fibonacci retraces instead of P/E ratios. A simple moving average will now become more important than the book value of a company. The bottom line is that technical chart reading will be critical to know and understand once again. Especially, as the people in the financial media scramble to find a reason for the move in a particular stock or equity. Nicholas Santiago InTheMoneyStocks
