Clearly there is some kind of fundamental shift or squeeze going on in
#Uranium
, all the stocks look like they are mooning, many multi-month bases being taken out or threatened. Not a sector I've ever really watched, but the setups are too good to ignore. $UUUU $NXE $DNN $UEC
$FB has every reason to rally here. Backtest of the channel, backtest of the March high, all being done in what appears a flag structure with somewhat lighter volume. Pretty good spot to manage risk.
$MAXR weekly and daily charts. This is a
@PatternProfits
special (don't miss his weekly watchlist videos!). One of my faves, wedge break on the weekly and has been coiling under that 36 pivot, also right where the ⚓️VWAP off the 2021 high is sitting. Really nice setup.
@ChefGruel
Sometimes at Hallowe'en when we're telling ghost stories, I tell the kids about olestra and the orange streaked ghosts in people's underwear. Scares them into eating celery.
@PatternProfits
@MarketSmith
That $KNBE is just a gorgeous set up with today's spike taking out the key VWAPS and running right into the 27-28 pivot. All within the context of a post-wedge break base. 💪
Keep an eye on $NAKD tomorrow, this is a pretty explosive set up and the correct buy area. Hell keep an eye on it now, they are ramping it a bit after hours.
@The_Real_Fly
@RetirementRight
There will be literally millions of fully vaccinated folks who get Covid but will never know because they wont have symptoms so they wont get tested, and this is TOTALLY FINE. Maher would never have known if they weren't testing at HBO. Hell, I may have it right now. It's fine.
@TraderLion_
@RaiTrades
"One edge, one entry tactic, and a trading routine around it"
This may be the one the better pieces of trading advice I have ever heard.👍
While I found many great near term long set ups, its nice to stumble upon one that projects more than simply near-term. To me it looks like $LULU has completed a 7 month base, a really nice-looking flat ABC correction, should begin to march its way back to the top and beyond.
The most impressive thing to me in the $APPS chart, if it is indeed going to break up from the recent flag, is the recent decline was a backtest of a RISING resistance line, this implies we may actually see an acceleration of the uptrend. Thanks to
@G_krupins
for the heads up
@pkedrosky
I thank my dad for introducing me to an old quote from someone who escapes me right now. "You probably wouldn’t worry about what people think of you if you could know how seldom they do."
Man, the
@TraderLion_
conference was simply amazing. And the relatability of today's
@Canny4
presentation was uncanny for me, excuse the pun. :) Thanks Tom for the great perspective and all those tips and ticks, from a another born again "chunker". 👍
@PatternProfits
Close up of the uber-bullish set up on $LCID from above. Took out the little flag, now working on the larger channel. Soon will have to deal with the AVWAP off the ATH's, then the top of the base. Great volume today. Doing everything that it should be so far.
@jimcramer
This is getting ridiculous. So what if we get the much-ballyhooed "Santa Rally"??? In 5 days the $SPX took off over 7% and the $QQQ lost 10%. So when we actually stop going down for a few days the pundits can say they were right?? Zero self-awareness.
@KatieJStrang
Ironically if he just answers it respectfully then besides just being a decent human being there is also no story. Now the organization gets another black eye and the pump gets primed on the whole story yet again.
Weekly Update
(1/10) Love this market's ability to simultaneously thoroughly deflate a growth tech bubble while ramping bulls in commodities and financials and not skip a beat. To be sure financials aren't a shock, the massive breakout on the $XLF monthly was a pretty good clue.
@RichardMoglen
$FSR Yesterday's pocket pivot day took out the putative channel/flag and took out a low cheat pivot. Pushing the AVWAP now. Hot EV sector, huge short position. Earnings this week though.
@allstarcharts
Older chart? Those April highs have already been challenged. Right there as of today.
And yes, this is a must-own. It's insanity not to given the price action. Like you said, the potential is pretty crazy.
@spotgamma
Speculative implication is that retail got longer while larger players got shorter since retail does not play index options, much. Would you agree?
Another in a growing list of warning signs, the bios. $XBI sure looks like it finished off its bull wave with an ending diagonal, a pattern I am seeing repeatedly these days. Was a hell of a run, but may be time to rest.
@NorthmanTrader
@SullyCNBC
@CNBCWEX
This looks related to monthly OPEX. Dealer gamma dropping off right after opex unpins the market and creates vol. Then the inflows take over, rinse repeat.
Easily the most interesting action from the $GDX in a long time, which is not saying much. Miners are still deep in the trough but what looked like a bear flag last week on multi-year support turned into a breakout of a possible ending diagonal after a bear trap throw over. 🧐
$URA I find most of the
#Uranium
sector is setting up, and the sector ETF has been in a corrective looking base for 18 months now. $UUUU, $NXE, $DNN, they all look similar. Buying a little $EU in this spot, like the volume off the wedge, chart included.
Neat little set up on a stock that
@alphacharts365
found few week's ago. This tightness seems very likely to resolve with a strong move up, especially given what I have been seeing the last weeks across the market, simple digestion. $TGTX.
@TrackerTrial
It's shitty but the prosecution had no choice but to leave her out because even by her own admission she has been very inconsistent with key details about the Andrew stuff, which the defense will jump on. They have many other Epstein "recruits" who will testify against Maxwell.
Been thoroughly enjoying
@TradeBrigadeCo
's ongoing market analysis on his YouTube channel. A wide range of techniques, a regimented solid process, and completely unbiased. Plus Matt is just a solid dude. Highly recommended.
@nope_its_lily
I've been trading for 25 years, I have never seen it more disconnected than in the last month. Anecdotal of course, I have no regression analysis to offer. :( I do however find its tracking the DAX futures more closely which itself is disconnected from the other global indices.
@adaptiv
Good observation from
@the_chart_life
about breadth coming in "spurts". 100% true, it's just not sustained and is keeping the broader equally-weighted indexes ambiguous at best. Will that change? 🤷♂️ but I am getting less hopeful.
$ETSY, top of the focus list for next week. Recent break of the March 2021 highs on volume, flagged most of last week and plowed up out of said flag on Friday. What's not to like? As clean as they come.
@OptionsHawk
Put together a $BGFV chart showing the progression of the short position, it's squeezing hard now with little hope for the shorts. Friggin' befuddling.
Further to that last chart, a couple of $XLP types, $MLDZ and $DLTR. Both appear to be heading for fresh breakouts, although I suspect this would take a few weeks to get going in earnest. Really like the last few week's of volume on $MDLZ.
I'm no permabull. I have to fight an innate bearishness to make my living. But the bears in my feed are either nuts or just unware of what is happening here. The WHOLE undercarriage of this market has literally JUST broken out, after MONTHS of sideways. Stop looking at the $SPX.
@Scot1andT
I recall you talking $SPRT a few months back, you still tracking that thing? Showed up on my scan this week, one of the most bullish charts I'm tracking.
@NickSchmidt_
@RichardMoglen
@RayTL_
Could not agree more. I hope
@RayTL_
continues to remain front-facing because his presentations are top notch and invaluable. The community is lucky to have him.
Tune in now to
@RichardMoglen
@RayTL_
@TraderLion_
if you want learn about the importance of PROCESS in your trading. Creating a work flow to set you up for success.
Chart review done. If you have to be long something its down to these riveting choices:
Pharma
Health Care
Energy
Precious metals
Industrial Metals (some)
Consumer Defensive (the soup, cereal & cigs market)
Insurance
REITS
Utes.
Almost everything else look like shorts to me.
$DDOG. One of the weakest stocks throughout the recent rally. Just barely hanging on to that pivot for 5 months now but that crawl looks like it is near another test. Thin structure down to 50.
So a lot of travel stocks look the same. Most holding their breakouts and consolidating on top of them, bullish action and decent entries in term r/r IMO. Here are $AAL, $CCL, $LVS.