AMZN Update – October 19, 2017 …

I wrote an update on AMZN yesterday that raised the possibility of the stock making a possible Wave 2 high of a new possible trend or at best a Wave 2 high of a large sideways consolidation pattern (click here).  The stock is about $13 below where it was when I wrote that blog post and it looks like it is possibly testing a break of the weekly broadening price pattern that I have been tracking for AMZN.

You might say … whoop-t-do, price is breaking some imaginary price pattern!!  I say beware when price breaks price patterns, because it could be the early warning of a change in trend.  Here are the charts … Continue reading

WFC Update – October 3, 2017 …

Here is the bigger broadening pattern that I have been tracking since late 2016 …

WFC – Weekly Chart

The broadening pattern seems to be giving traders good levels to trade against … I think that the median line will act as resistance here.

WFC – Daily Chart

The daily chart shows that price is extended here as we push into that weekly pattern’s median line.

Cheers … Leaf_West

NFLX Update – October 2, 2017 …

NFLX reports their quarterly earnings after the close on October 16th.  After a huge July monthly move, the past two months have seen NFLX consolidate around the high of that large range monthly candle.  Which way will price go … I think that we should get some volatility in either direction regardless of which way it ends up going.  I would have to think that downside volatility could be a bit more vicious, due to the length of the upward run so far, but I remain open-minded.

You sometimes get the MoMo tech names to run higher into earnings, but maybe, NFLX will actually pullback into this next earnings report. Continue reading

A Look at the Equal-Weighted NDX/SPX Indicies …

The McClellan Summation Index continues to push higher today showing that there is more buying pressure than selling pressure in the market currently … however, a look at the equal-weighted major indexes point out the fact that the leadership in the market is drifting to a smaller and smaller list of names.

NASDQ 100 Equal-Weighted Index – Daily Chart

S&P 500 100 Equal-Weighted Index – Daily Chart

We will have to see if these potential Head & Shoulder chart patterns actually play out as we go forward …

Cheers … Leaf_West

US $ Update – September 8, 2017

There is lots of talk on the business channels today about how bad the US$ is performing this week … the business channel pundits are great at looking in the rear-view mirror to tell us what has just happened – that doesn’t really help traders make money, however.   I prefer to look ahead and anticipate what may happen next.

I did that back on March 19, 2017, when I wrote a post about my outlook on the price pattern on the US$ on my old blog site and posted it to StockTwitts and Twitter …

 

Obviously, the link to my old blog site no longer works, but my thesis back earlier this year was that we had likely made a top in the US$ strength, right when everyone was wringing their hands about how strong the US$ was and how that was going to hurt the economy going forward.  Most traders and ALL tv-pundits/economists look at the past price movements of a stock/commodity etc and extrapolating them in a straight line forward.  They don’t bother to consider the wave structure of price movement.

Here is the updated monthly chart for the trade-weighted US$ … Continue reading