IPW on the 60 minute chart has went 3X since a big beat on earnings and revenue a couple of weeks ago Price peaked at the 3.4 area in the post earnings move higher had has now faded to 1.9 in a healthy pullback and Fib retracement. The down trend from the pivot high on 5/17 ended with a bottom and a golden cross of moving averages on May 22nd. The all-time...
ERX as shown on the daily chart shows a VWAP band breakout into the mean VWAP from the lower VWAP lines coupled with a rising momentum on the PMO targeting 72 as the YTD pivot high. Given this is a leverage play in the supertrend shift in a major sector I see this as a low risk moderate reward potential type of trade I will take this trade long expecting...
ERX is a leveraged ETF tracking the energy sector. On the 4H chart it has been in a downtrend since mid-March. IT dropped to the bottom of the high volume area on the long term profile as well as the lowermost VWAP band. Firday May 12th marked the reversal with buying volume replacing selling volume and then a significant rise in price in the past week. ...
ERX is a bullish leveraged ETF for the energy sector similar to XLE. On the 30 minute chart, the supply and demand zones are displayed from the Luxalgo indicator. The midline between them is the red line which is confluent with the POC line of the volume profile. On the prior down trend last week, price got support from that line and bounced back to the...
This is a classical chart pattern. The bullish continuation would be expected to be about $25.00 of upside given the height of the cup. The short time MAs have crossed the intermediate MA from underneath in a "Golden Cross" while positive momentum just started on the squeeze indicator. Fundamentally this makes sense with the winter heating season and the...
On the one hour chart, ERX ( triple energy ETF) completed a head and shoulders and is now downtrending with a crash through the EMA 100 and EMA 200 and now one standard deviation below the VWAP. The Momentum Indicator shows downside momentum is greater than it has been in recent months. The inverse ETF called the ERY would be expected to be the inverse of...
It looks to me like ERX (Direxion Energy Bull 2x ETF) is ironically forming a very bearish outline which seems to coincide with other bearish indicators for oil and equity markets. What's interesting here is the coexistence of a rising wedge form (highlighted in orange) with what appears to be quite a tidy Elliot wave count. There is a pretty clear set of 5...
$EXR Trade Idea. $106.35 has been a strong resistance zone. Looking to go long on $EXR over $106.35 with volume. AMEX:ERX
Great demand zone for a long. Risk under level
Watchlist Price moving out of the downtrend Price is tracking above the 20MA Pretty low volume at the moment, could turn very interesting if volume turns up May see some sideways movements before a break Watch for the break of 6.5c
In the last few weeks the OIL and Gas Index has risen even though crude dropped again despite the agreement of major producers to soon start cutting production by 10%. The gain Friday is encouraging that the rise has further to go. If this is just part of a upward correction a likely target is given. If it quickly starts down again to complete a downward...
IF this count is correct we could be at a temporary or even possibly a long term bottom. I have two "B " , if the 2nd one (B?) is the correct one then may have more drop to the .84 retreat. Must watch the price action the next couple of weeks for comfirmation. Process you way. Have a great week.
If you have been watching oil and the energy sector you've seen quite a decline lately. It could be that the energy sector bottomed 2 days ago. Look at that lower trend line. touched several times and very nice gains after ward. I would be willing to bet the bottom is in for GUSH. I usually like to wait to see the price regain the 10 sma and get above the...
Energy will be running into heavy resistance by the end of the week...
As described in my previous note on the S&P 500, there have been two major market corrections since the end of the Great Recession. They were periods of high volatility and a lot of repricing of stocks for 140 days or more. In both cases they started with: 1. A complete reset of the daily RSI ( Relative Strength Index below 20) 2. The S&P 500 holds below the...
Directional Bias: Long to 41.5+ Price Target: ERX Good Entry: 37.7-38.3 Risk/Reward: $1 cents max stop/$2.5+ reward
It would appear that the intermediate term trend is going through an ABC correction. Supply Zone exists in the $53.50-$57 range Long Term Price Support exists at $54 50% Fibonacci retracement exists at $54 Measured Move exists at $55 Channel Resistance exists at $62 Long(er) Term Price Resistance exists at $63 Short Term trend bearish I'll go long when I...