Monday, April 23, 2018

Semiconductors Approach 200-day MA; S&P Sleeper Play

There were modest losses today with most indices holding the status quo from Friday. The one exception was the Semiconductor Index as it lost over 1% in a confirmed break of support. However, it does have the 200-day MA for a likely test tomorrow. All technicals are negative and relative performance took another step lower but no change there.


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Sunday, April 22, 2018

Shorts In Play

Friday's selling confirmed the second shorting opportunity with support breakdowns across lead indices.

The S&P closed with higher volume distribution on a breakdown of rising support. Relative performance remains weak although there are still 'buy' triggers for MACD and On-Balance-Volume.


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Thursday, April 19, 2018

Short Opportunity II

The first chance for a short play got burned but there is a second one on offer for the S&P.

The S&P tagged channel resistance and while today's reversal off resistance didn't amount to a big percentage loss it did register as a distribution day. There wasn't any significant technical change so if this short does evolve it will do so with risk measured on a move above 2,717.


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Tuesday, April 17, 2018

Short Opportunity Negated

Well, that didn't last long.

The shorting opportunities which offered themselves yesterday didn't last the morning; morning gaps held beyond the first half-hour of trading and bar a small sell-off into the close markets finished higher and above key moving averages and trading channels.

The Dow created a breakout which now offers a potential long play. Stops go on a loss of 24,600. Technicals finished with a new long 'buy' trigger in Stochastics.


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