Weekly Stock Charts

Jonathan Parsons Rank: 48 Followers: 19 Votes: 9 Years Member: 13 Last Update: 27 March 2017, 6:08 Categories: Chart Patterns
Trend Analysis
Volume Analysis

March 27 2017 9A Update: Another tricky week! I like it better when we're going straight up and volatility is going straight down. We had a mixed market last week with winners like AAOI & LITE. Earnings plays worked, too. MU and SLW were 2 that I had calls in that paid FAT, but the gains were short-lived so you had to be quick. Retail continues to get hammered on a daily basis. Small caps were weak. Energy still under-pressure. Bonds (TLT, TIP, IEF) did well. So, there's things to do but it's not quite as easy as just buying anything that's going up. But that's all in the past, what's next? Futures are under-pressure. For today, I'm watching bonds and by extension Utes (ex. NEE). Gold/silver miners finished on Friday with an inside day and look to be breaking up. This sets up a potential move over recent highs if it sticks. So, I'll be watching the 5m ORB on those. Its looks (to me) like it's too late to play volatility long and I'll be looking for a short entry this week in VXX puts or long SVXY/XIV. I'll also be watching how some of the tech/bio leaders hold up today. If they close well off the lows, that's a positive. If they all break trends, then it's time to trim and step aside. Europe and overseas markets have been strong lately, so I'll be watching the reaction over there, too. IF Europe shrugs off US weakness, then that's a positive. It's likely to be a volatile week with EOQ coming up. Some traders may look to book gains to lock in their quarter and others may look to do some quarter-end window dressing...which creates volatility. So be mindful of that. Should be a fun week. Good luck out there!


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