What Netflix Has To Do To Breakout And Make New Highs

By | September 20, 2018

Netflix (NFLX) shares have been consolidating under resistance at $380 for the last two months. This resistance defines the neckline of an inverse head and shoulders pattern on the daily chart. An inverse head and shoulders is considered a fairly reliable continuation candle pattern. In this case, the left shoulder is defined by the July… Read More »

Six Trading Candidates – Based On Their Weekly Charts

By | September 19, 2018

Here are six stocks that are bullish trading candidates based on their weekly charts. The charts reflect some prior basing action and have well-defined resistance lines. Price momentum is improving and money flow is generally positive. Trading on the weekly time frame offers the benefit of deeper stops. This also allows more time for the… Read More »

The Gold Chart Is Starting To Look Good

By | September 13, 2018

The SPDR Gold Shares ETF (GLD) have been tracking steadily lower for the last six months. There have been attempts to stabilize along the way, but they all failed and the erosion in the precious metal continued. Over the last month, however, the ETF has stabilized and formed a pattern on the daily chart which… Read More »

Live Nation Trade Could Be A “Blockbuster”

By | September 12, 2018

Live Nation Entertainment (LYV) promotes and operates live music events. If you take a look at the fundamentals of the company you might not be impressed. But from a short term technical perspective the chart is a potential “blockbuster.” Price action in April formed a large island reversl, first gapping lower at the beginning of… Read More »

Market Index Charts Looking Shaky – Elon’s Not Worried

By | September 8, 2018

The S&P 500 traded back above its all-time high of 2872.87 on Wednesday and Thursday. The index finished out the week on Friday at 2871.68, back under the high by just under two points. Not a big deal. There were, however, several important support levels on the major market index charts that were either broken… Read More »