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Nasdaq Composite Index CFD

Amazon (AMZN), DJI, IXIC, SPX, XAUUSD, USOIL - January 12Happy New Year!!! Dear traders, nice to meet you. "Like" is a huge force for me. By "following" you can always get new information quickly. Thank you for always supporting me. -------------------------------------------------- ----- We have to see if we can get support and climb at 3104.0. If you go down from 3104.0, you can touch 3008.91, so you need to trade carefully. It remains to be seen if any attempts can be made to break above the downtrend line (2)-(3). ------------------------------- (DJI 1D chart) It started with a drop in the gap (31098.0-31015.4) and closed at -0.29%. With volatility around January 13th, we have to see if we can keep it above the 30199.9 point. ---------------------------------- (IXIC 1D chart) It started with the gap (13202.0-13048.8) falling and closed at -1.25%. We have to see if we can go up along the uptrend line (2). ---------------------------------- (SPX 1D chart) It started with a drop in the gap (3824.7-3803.1) and closed at -0.66%. We have to see if it can rise within the rising channel. ----------------------------------- (XAUUSD 1D chart) It remains to be seen if the volatility around the 13th of January leads to any movement that deviates from the 1815.137-1871.828 range. ----------------------------------------- (USOIL 1D chart) We have to see if we can climb above 52.59 and get support. We need to see if it can rise along the uptrend line (3). -------------------------------------------------- ------------------------------------------- ** All indicators are lagging indicators. So, it's important to be aware that the indicator moves accordingly with the movement of price and volume. Just for convenience, we are talking upside down for interpretation of the indicators. ** The wRSI_SR indicator is an indicator created by adding settings and options from the existing Stochastic RSI indicator. Hence, the interpretation is the same as the traditional Stochastic RSI indicator. (K, D line -> R, S line) ** Check support, resistance, and abbreviation points. ** Support or resistance is based on the closing price of the 1D chart. ** All explanations are for reference only and do not guarantee profit or loss on investment. Explanation of abbreviations displayed on the chart R: A point or section of resistance that requires a response to preserve profits S-L: Stop Loss point or section S: A point or segment that can be bought for profit generation as a support point or segment (Short-term Stop Loss can be said to be a point where profits or losses can be preserved or additionally entered through installment transactions. It is a short-term investment perspective.) GAP refers to the difference in prices that occurred when the stock market, CME, and BAKKT exchanges were closed because they do not trade 24 hours a day. G1: Closed price G2: Cigar price when opening (Example) Gap (G1-G2)
NASDAQ:AMZN
by readCrypto
Market Week In Review - 1/4/2021 - 1/8/2021The Market Week in Review is my weekend homework where I look over what happened in the previous week and what might come in the next week. It helps me evaluate my observations, recognize new data points, and create a plan for possible scenarios in the future. I do occasionally have some errors or typos and will correct them in my blog or in the comments on TradingView. I do not have an editor and do this in my free time. If you find this helpful, please let me know in the comments. I am also more than happy to add new perspectives and data points if you have ideas. The structure is the following: A recap of the daily updates that I do here on TradingView. The Meaning of Life, a view on the past week What's coming in the next week The Bullish View, The Bearish View Key index levels to watch out for Wrap-up If you have been following my daily updates, you can skip down to the “The Meaning of Life”. If not, then this first part is a great play-by-play recap for the week. Click the original charts for more detail each day. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Monday, January 4, 2021 Lately things, they don't seem the same Facts: -1.47%, Volume higher, Closing range: 37%, Body: 63% Good: Held support around 12,550, some recovery off lows Bad: Thick red body, no upper wick Highs/Lows: Higher high, lower low Candle: Bearish engulfing candle with thick body over long lower wick Expectation: Sideways or Lower It was not a great start to 2021 with the equity markets selling off significantly throughout the day after making morning highs. The Nasdaq nearly reach its all-time high before selling off sharply in the morning. Recovery in the afternoon was not nearly enough to be seen as a positive. The index closed down -1.45% with a closing range of 37% and a thick red body of 63%. The higher high and lower low than the previous day represents a bearish engulfing candle that can indicate bearish sentiment in the market. There were more declining stocks than advancing stocks. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Tuesday, January 5, 2021 There must be some kind of way outta here Facts: +0.95%, Volume higher, Closing range: 94%, Body: 94% Good: Solid day of gains, no lower wick Bad: Nothing Highs/Lows: Lower high, higher low Candle: Inside day, bullish green body with no lower wick and tiny upper wick Expectation: Sideways or Higher The Nasdaq followed yesterday's bearish session with a bullish rebound today. There is still work to do to get back to all-time highs, but the gains were steady throughout the day as the index never revisited the morning low. The index closed the day with a +0.95% gain on higher volume, closing range of 94% and a thick green body of 94%. The lower wick doesn't exist and the upper wick is very tiny. More than two stocks advanced for every declining stock. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Wednesday, January 6, 2021 Bold as Love Facts: -0.61%, Volume higher, Closing range: 35%, Body: 29% Good: Stayed above opening low, held support at around yesterday's low Bad: Sell-off in late afternoon Highs/Lows: Higher high, lower low Candle: Inverted hammer that signals buyers held support despite selling pressure Expectation: Sideways or Higher It was a wild day for the markets as unbelievable events unfolded in the US capitol. The Georgia run-off elections resulted in Democrats taking control of the Senate, realizing the blue wave that was original anticipated with the November elections. The Nasdaq shook off the initial rotation and rose to gains by mid-afternoon, but would sell-off as rioters stormed the US Capitol in protest of election outcomes. The index closed -0.61% on higher volume with a closing range of 35% and a body of 29%. More stocks advanced than declined. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Thursday, January 7, 2021 Ain't no telling, baby When you will see me again, but I pray It will be tomorrow Facts: +2.56%, Volume lower, Closing range: 90%, Body: 90% Good: Everything, bullish candle following the inverted hammer Bad: Nothing Highs/Lows: Higher high, higher low Candle: No lower wick, very small upper wick, thick green body Expectation: Higher Finally, everything is finalized and seems we can put the tumultuous election behind us. On top of that, jobless claims data was better than expected and economic activity represented by the Purchasing Managers Index was very positive. The markets responded with a huge gain and new all-time highs among the indexes. The Nasdaq closed with a +2.56% on lower volume, and with a very bullish candle. The closing range of 90% was over a 90% body, resulting in zero lower wick as the index never revisited the low from open. There were nearly three advancing stocks for every declining stock. Over 300 Nasdaq stocks made new highs. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Friday, January 8, 2021 Might even raise a little sand Facts: +1.03%, Volume higher, Closing range: 96%, Body: 24% Good: Bulls win the day, despite selling pressure Bad: Mid-day sell-off Highs/Lows: Higher high, higher low Candle: Smallish green body in upper part of candle, long lower wick Expectation: Higher It was a wild ride for traders today as a Democratic senator seemed to state he'd block new stimulus and then later say he's still considering his decision. That resulted in a mid-day sell-off and looked like the bears would win, but then the Nasdaq turned and closed at new all-time highs. The index closed the day with a +1.03% gain on higher volume. The closing range of 96% and 24% green body over a long lower wick represent the mid-day selling pressure that was eventually overcome by the bulls. There were about the same number of advancing stocks as declining stocks. 275 new highs is less than the previous day, but still a very large number. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- The Meaning of Life (View on the Week) The first week of 2021 for the markets was filled with twists and turns but ended with gains across all the major indexes. The Nasdaq ended the week with a +2.43% gain; not a bad start to the year. Volume was higher as investors came back from the holidays. The index has a weekly closing range of 99% with a green body of 36.7% at the top of the candle. The Russell 2000 (RUT) was back on top of the major indexes, gaining another +5.91% for the week. The S&P 500 gained +1.83% while the Dow Jones Industrial average gained +1.61%. The VIX closed down -5.23% after spiking at the beginning of the week. The week started on a bearish note as investors came back from the holidays fearing the worst for the pandemic. The UK had announced new lockdowns to control a more contagious mutant of the COVID-19 virus. The index dropped below the 21d EMA, a key indicator line that can show a break down in support. Things recovered in the afternoon, but not nearly enough to look bullish. The VIX volatility index spiked more than 20% before receding. Tuesday was a positive expectation breaker. There was positive news in the manufacturing purchase data that shows economic activity is picking up. The indexes had bullish inside days. Wednesday was the pivotal day of the week. The market aside, the day will be written into American history. Although the day was a loss for markets, it would prove pivotal to the upside for the week. We can hope it will also be pivotal to the upside for United States democracy, and most importantly it's citizens. For the Nasdaq, the day would start with selling as the Georgia run-off elections resulted in Democrats taking control of the senate and a blue wave government was now confirmed. However, investors quickly shrugged off the news and began to buy back discounted tech stocks. That would halt in the afternoon when a siege on the US Capitol hit the news. As rioters broke thru the capitol doors, causing evacuations of politicians and their staff, markets quickly began selling. It really looked dismal for stocks, but it was worth taking a step back. It could have been a lot worse, and what you see in the candle is an inverted hammer. An inverted hammer signals the selling pressure, but that buyers came in to hold the index above the day's lows. That candle is a signal, but only confirmed if the following days were bullish. And Thursday and Friday brought us the confirmation. Thursday would be a big day for markets. Brave members of the US Congress, on both sides of the aisle, reconvened late Wednesday and worked through the night to count and confirm the electoral votes. Friday showed there was still a bit of nervousness when one Democratic senator seemed to oppose the stimulus, causing stocks to briefly sell off. However, he corrected his stance later in the day and markets ended the week at new all-time highs. The weekly chart shows the continued strong momentum in the Nasdaq, despite the pressures on big tech that may come from a Democratic controlled government. The average closing range over the past 10 weeks is 75% as the index has consistently either a higher high or a higher low, both positive signs of support and growth. Volume on positive weeks is much higher than volume on negative weeks. Accumulation continues to outweigh distribution. Energy ( XLE ) finds itself back at the top of the sector list for the first week of 2021. It's not something you might expect as the blue wave hit US politics. The democratic clean energy platform doesn't bode well for traditional energy stocks. However, crude oil is over $50 a barrel for the first time since April after Saudi Arabia surprisingly cut output. The blue wave did have some expected sector impact this week. After the Georgia run-off results showed Democrats would take control of the senate, US Treasury Bond yields took off as investors expect more stimulus that would further impact the US Dollar . That caused Financials ( XLF ), especially big banks, to have big gains on Wednesday and Thursday. Materials ( XLB ) benefited from the blue wave news, as we can expect big investments in US infrastructure with the new administration. Industrials ( XLI ) also had a boost on Wednesday, with some benefit from infrastructure spend, but also several segments like airlines likely to benefit from further stimulus. However, Industrials did not continue the rise and ended the week behind the S&P 500 . Consumer Discretionary ( XLY ) got a boost on Friday, perhaps from higher than expected Consumer credit numbers on top of the promise of new stimulus. Quite a few people had a good Christmas it seems. At the bottom of the list is Real Estate ( XLRE ) which is likely to suffer in the bottom line from the higher interest rates. Technology ( XLK ) had the expected negative reaction to the blue wave on Wednesday but regained from losses on Thursday and Friday to end the week just behind Industrials . Also notable is Utilities ( XLU ) which lost for the week, but had gains on Friday as a defensive move heading into a likely emotion filled weekend for the United States. US Treasury Bond Yields rose significantly for the week as investors reacted to the Democrats winning the senate. Democrats are likely to pass much more stimulus which will further drive investors out of bonds and into other asset classes. The spread between US 10y and US 2y bond yields widened. This had a positive impact on the Financials sector as big banks will benefit from the higher interest rates driven by treasury bond yields. Prices for corporate bonds (HYG) rose while the prices for short-term treasury bonds (IEI) dropped. This represents investors' confidence in corporations ability to pay back debt. That is important since many companies incurred larger than normal debt to weather the pandemic. If companies begin to default on loans, you can bet these bonds will sell-off before we know there's a problem. The US Dollar (DXY) rose +0.19% for the week. The put/call ratio (PCCE) ended the week at 0.563. That is an overly bullish level, but not as low as we've seen preceding recent pullbacks in the market. A contrarian indicator, when the put/call ratio is below 0.7, it signals overly bullish sentiment which typically proceeds a pullback in the market. The indicator was at 0.458 just before the September correction and it was at 0.489 just before the short October correction. Silver (SILVER) was down -3.54% and Gold (GOLD) was down -2.61% as investors moved from the safe-haven back into assets that will benefit from new stimulus. Crude Oil futures was up +7.80% after the surprise cut back in output from Saudi Arabia. Timber (WOOD) was up +3.97%. Copper (COPPER!1) rose +4.59% while Aluminum (ALI1!) rose +1.62%. These increases align with expectations that Democrats will increase spend on infrastructure. It's consistent also with the gains in the Materials and Industrials sectors. It's important to keep an eye on the four biggest mega-caps and how they react to market changes. Apple (AAPL), Microsoft (MSFT) and Amazon (AMZN) all ended the week with losses, but are trading above the 10w moving average lines. Microsoft and Amazon briefly dipped below the line, but found support and closed the week above. Alphabet (GOOGL) ended the week with gains. It also dropped below the 10w MA line, but found support. The cannabis industry is certain to benefit from legislature that will more easily pass through congress and be signed by the new administration. Stocks (including the MJ ETF) gapped up on Wednesday. Clean Energy, Electric Vehicles, Financials and Materials were among other stocks that also soared on Wednesday. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- The Week Ahead Next week will bring several economic updates. JOLT Job Openings (Nov) on Tuesday and updates on Initial Jobless Claims on Thursday will provide more insight into the jobs market. Consumer price index data and Producer price index data will show any impact the weakened US Dollar is having on inflation. Friday will also bring an update on core retail sales data for December. Traders will closely listen to Jerome Powell who is scheduled to speak on Thursday at 12:30p. The frequency and relative importance of earnings reports will start to pick up next week. Carnival Corp (CCL) and Delta Airlines (DAL) will be among companies reporting who were impacted by the pandemic. Blackrock (BLK), Citigroup (C), JPMorgan Chase (JPM) and Wells Fargo (WFC) will report later in the week. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- The Bullish Side This week tested the market. We've been watching for a catalyst for the market to lose support and drop below key support areas. The riots on the US capitol could have been that catalyst. But it wasn't. Even as seller pressure increased on Wednesday, buyers came in and showed this market is not yet ready to become bearish. The inverted hammer on Wednesday was an indicator of support holding and was confirmed with the bullish days on Thursday and Friday. 30y and 10y US Treasury Bond yields rose as investors sold off the safe-haven instrument in favor of other asset classes. That was in anticipation of further stimulus coming from a Democratic controlled congress. That anticipation was confirmed when investors were briefly shaken on Friday by a Democratic senator stating he might not approve the stimulus, reversing some of the actions taken earlier in the week. The senator clarified the comment as he was still deciding and that brought investors back to equities. So the markets continue to rise. The index has closed above the 21d EMA for 45 days. That's 10 weeks of rally, that hasn't yet shown signs of backing down. Certainly there will be pullbacks like we saw on Monday, but we have to follow the market vs worry about an eminent crash that may be months away... -=x=-=x=-=x=-=x=-=x=-=x=-=x=- The Bearish Side …or it could be tomorrow. Investor sentiment continues to remain overly bullish with NAAIM exposure index heading back to highs. The Put/Call ratio remains below 0.600 The CNN Fear & Greed index is rising again. All of that could be the kind of overly bullish sentiment that precedes a much more severe pullback. The pandemic continues to worsen even as vaccines are becoming more and more available around the world. New lockdowns seem to be popping up with frequency. But the biggest worry for the coming weeks is the transition of power between administrations. The riots at the US Capitol have seemed to only fuel more verbal attacks from the right and the left. If those turn into more than verbal attacks, it could be that start of a very dark time in US history. It seems ominous and unbelievable, but I think the point here is that investors will be on nerves and any hint of worsening conditions could be a catalyst. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Key Nasdaq Levels to Watch There are several key levels in the Nasdaq to keep an eye out for and respond accordingly. First on the positive side: The high of Friday at 13.208.09. It's not far above the close, so I think what we want here is for the index to close above that high early in the week and then stay above that close. The index is pausing about every 300-400 points, so expect some resistance around 13,350 - 13,400 area. On the downside, there are several key levels to raise caution flags: 12,733.04 is the 21d EMA. The index tested that line twice last week and was able to close above it each time. 12,550 had shown as a support area, helped by the 21d EMA. The low of last week is 12,543.24 and is just below the 12,550 support area. The support area of 12,250 is the next area. Hopefully, that area will hold the index above that price level. The 50d MA is at 12,222.76. That is ~7.4% below Thursday's close. The gap with the 50d MA continues to widen. November support area is at 12,000 and a round-number point. A drop to that area would be a certainly correction level. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Wrap-up It was a rough week. Lots going on. The market survived it and that’s good news for investors. Looking forward, it will be good to remain cautious while not disengaging too much. More rally could be in front of us. With all the changes, take some time to evaluate your stocks. Look at weekly action vs daily action. Rank the stocks and determine where some additions and some trimming should be based on the changes this week. Most of all, keep in mind your risk plans and update stops as necessary. Good luck, stay healthy and trade safe!
NASDAQ:IXIC
by drewby4321
Daily Market Update for 1/8Trend lines drawn from the 10/30 bottom (48d), 1/4 (5d) and today 1/8 (1d).   Ideas always welcome in the comments. Errors will be amended as comments on TradingView or and corrected inline in my blog. I'm working to condense this daily update over the next few weeks. I need to reduce it for both brevity and preparation time. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Friday, January 8, 2021 Might even raise a little sand Facts: +1.03%, Volume higher, Closing range: 96%, Body: 24% Good: Bulls win the day, despite selling pressure Bad: Mid-day sell-off Highs/Lows: Higher high, higher low Candle: Smallish green body in upper part of candle, long lower wick Advance/Decline: 1.11, about even advancing and declining stocks Indexes: SPX (+0.55%), DJI (+0.18%), RUT (-0.99%), VIX (-3.62%) Sectors: Consumer Discretionary (XLY +2.06%) and Real Estate (XLRE +1.08%) were top. Industrials (XLI -0.24%) and Materials (XLB -0.48%) were the bottom. Expectation: Higher -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Market Overview It was a wild ride for traders today as a Democratic senator seemed to state he'd block new stimulus and then later say he's still considering his decision. That resulted in a mid-day sell-off and looked like the bears would win, but then the Nasdaq turned and closed at new all-time highs. The index closed the day with a +1.03% gain on higher volume. The closing range of 96% and 24% green body over a long lower wick represent the mid-day selling pressure that was eventually overcome by the bulls. There were about the same number of advancing stocks as declining stocks. 275 new highs is less than the previous day, but still a very large number. The S&P 500 (SPX) and Dow Jones Industrial (DJI) had smaller gains of +0.55% and +0.18% respectively. The Russell 2000 (RUT) showed a bearish candle that tops out at the same high as yesterday, and closes for a loss of -0.99%. The VIX declined by -3.62%. Consumer Discretionary (XLY +2.06%) and Real Estate (XLRE +1.08%) were top sectors for the day. Industrials (XLI -0.24%) and Materials (XLB -0.48%) were the bottom. It's also worth noting Utilities (XLU +0.84%) near the top of the list, signaling some defensive plays in the mix. Also, the four losing sectors for the day, are the leaders for the week and it's likely those sectors just needed to cool off from their heated advances on Wednesday and Thursday. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Economic Indicators The US Dollar (DXY) advanced for a third day. US Treasury 30y (US30Y), 10y (US10Y) had another day of big gains while the 2y (US02Y) bond yield remained flat. The yield spread for US10Y to US2Y widened again with the US10Y yield advancing over 22% for the week. Corporate Bonds (HYG) prices increased while short term treasury bond (IEI) prices dropped. Silver (SILVER) and Gold (GOLD) both dropped -6.26% and -3.38% respectively. Crude Oil (CRUDEOIL1!) continues to advance to levels not seen since February 2020. Timber (WOOD) moved sideways after a few days of gains. Copper (COPPER1!) and Aluminum (ALI1!) retreated around -0.80% each. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Investor Sentiment The put/call ratio rose slightly to 0.563 as investor optimism remains very bullish. The put/call ratio (PCCE) is a contrarian indicator that shows overly bullish or overly bearish investor behavior. The 0.7 level is considered normal. As it approaches 0.60 (overly bullish) and below, watch for a possible pullback in the market. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Market Leaders The biggest four mega-caps all advanced for the day. Apple (AAPL), Microsoft (MSFT), Alphabet (GOOGL) are trading above the key 21d EMA and 50d MA lines. Amazon (AMZN) had closed above its 50d MA, but below its 21d EMA. Tesla (TSLA) tops the mega-cap charts with a +7.84% gain, continuing its spectacular rise. Alibaba (BABA), PayPal (PYPL) and Thermo Fisher Scientific (TMO) are other top mega-caps for the day. Growth stocks did well. In addition to Tesla, FUTU Holdings (FUTU +12.36%) and NIO (NIO +8.55%) topped the list. Penn National Gaming (PENN +7.14%) and Draft Kings (DKNG +4.48%) also did very well. Twitter (TWTR -1.62%) continued a second day of losses. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Looking ahead The only scheduled big economic news for Monday is FOMC Member Bostic making remarks. However, it is expected that the House will bring new impeachment charges against the president. No notable earnings reports are scheduled for Monday. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Trends, Support and Resistance The long-term trend line from the 10/30 bottom points to a gain of +0.55%. The one-day trend points to a -0.56% loss. The five-day line points to a smaller loss of -0.30%. The index is well above the 21d EMA which has acted as support recently. That's -3.53% below the close. The index also held the 12,550 area this week. If it passes that area, the next support area is 12,250. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Wrap-up I thought the turmoil was behind us once elections were resolved and the capitol clear of rioters. Thursday was super bullish and with stimulus on the way, the market could have nothing but strength. However, investors are still very sensitive to anything popping in the news, as we saw with the comments today from a Democratic senator possibly blocking the stimulus. Looking at the action mid-day, you might have wanted to panic sell, thinking this was the end of a rally. But that would have been quickly proven the wrong action. It's one of those days that reminds us to have a plan and stick to the plan, and don't give too much weight to broad reactions to media. Stay healthy and take care!
NASDAQ:IXIC
by drewby4321
6
Sharp 🪒 drop 📉 on NASDAQ: How i will play today sessionHi guys sharing just my thoughs of my today market gameplan. Today wil be crucial Non Farm Payrolls and Unemployment Rate numbers in conjuction with wednesdays sharp decline in ADP Non-Farm Employment Change. The long term unemployed rise sharply: static.seekingalpha.com Total payroll growth accelerated sharply immediately after the lockdowns were lifted, but has since slowed. This makes tomorrow's jobs report that much more important. A decrease would be very bad as it would confirm the drop in the ADP report from wednesdays, while also indicating an abrupt change in the underlying economy. static.seekingalpha.com So this could be some kind of catalyst of move today and next week.
CME_MINI:NQ1!Short
by Tomasgei
3
Amazon (AMZN), DJI, IXIC, SPX, XAUUSD, USOIL - January 8Happy New Year!!! Dear traders, nice to meet you. "Like" is a huge force for me. By "following" you can always get new information quickly. Thank you for always supporting me. -------------------------------------------------- ----- Climb above 3176.40 and see if you can get support. If you fall from the 3008.91 point, you can touch the 2734.40 point, so you need to trade carefully. If it breaks above the downtrend line (2)-(3) and gains support at 3294.62, it is expected to update the New High. ---------------------------- (DJI 1D chart) It started with the gap (30829.4-30901.2) rising and closed at 0.69%. ----------------------------- (IXIC 1D chart) It started with the gap (12740.8-12867.3) rising and closed at 2.56%. ----------------------------------- (SPX 1D chart) It started with the gap (3748.1-3764.7) rising and closed at 1.48%. -------------------------------------- (XAUUSD 1D chart) You should watch for any movement that deviates from the 1899.330-1944.714 section. You need to make sure that the volatility around January 13 can keep the price above the downtrend line. -------------------------------------------- (USOIL 1D chart) We need to see if it can rise along the uptrend line (3). You should watch for any movement that deviates from 49.17-52.59. -------------------------------------------------- ------------------------------------------- ** All indicators are lagging indicators. So, it's important to be aware that the indicator moves accordingly with the movement of price and volume. Just for convenience, we are talking upside down for interpretation of the indicators. ** The wRSI_SR indicator is an indicator created by adding settings and options from the existing Stochastic RSI indicator. Hence, the interpretation is the same as the conventional stochastic RSI indicator. (K, D line -> R, S line) ** Check support, resistance, and abbreviation points. ** Support or resistance is based on the closing price of the 1D chart. ** All explanations are for reference only and do not guarantee profit or loss on investment. Explanation of abbreviations displayed on the chart R: A point or section of resistance that requires a response to preserve profits S-L: Stop Loss point or section S: A point or segment that can be bought for profit generation as a support point or segment (Short-term Stop Loss can be said to be a point where profits or losses can be preserved or additionally entered through installment transactions. It is a short-term investment perspective.) GAP refers to the difference in prices that occurred when the stock market, CME, and BAKKT exchanges were closed because they do not trade 24 hours a day. G1: Closed price G2: Market price at the time of opening (Example) Gap (G1-G2)
NASDAQ:AMZN
by readCrypto
Daily Market Update for 1/7Trend lines drawn from the 10/30 bottom (47d), 12/31 (5d) and today 1/7 (1d).   Ideas always welcome in the comments. Errors will be amended as comments on TradingView or and corrected inline in my blog. I'm working to condense this daily update over the next few weeks. I need to reduce it for both brevity and preparation time. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Thursday, January 7, 2021 Ain't no telling, baby When you will see me again, but I pray It will be tomorrow Facts: +2.56%, Volume lower, Closing range: 90%, Body: 90% Good: Everything, bullish candle following the inverted hammer Bad: Nothing Highs/Lows: Higher high, higher low Candle: No lower wick, very small upper wick, thick green body Advance/Decline: 2.89, Nearly three advancing stocks for every declining stock Indexes: SPX (+1.48%), DJI (+0.69%), RUT (+1.89%), VIX (-10.77%) Sectors: Technology (XLK +2.70%) and Consumer Discretionary (XLY +1.93%) were top. Consumer Staples (XLP -0.30%) and Utilities (XLU -1.31%) were the bottom. Expectation: Higher -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Market Overview Finally, everything is finalized and seems we can put the tumultuous election behind us. On top of that, jobless claims data was better than expected and economic activity represented by the Purchasing Managers Index was very positive. The markets responded with a huge gain and new all-time highs among the indexes. The Nasdaq closed with a +2.56% on lower volume, and with a very bullish candle. The closing range of 90% was over a 90% body, resulting in zero lower wick as the index never revisited the low from open. There were nearly three advancing stocks for every declining stock. Over 300 Nasdaq stocks made new highs. The other major indexes also set new all-time highs with very bullish candles. All lows came within the highs of the previous day, so no gap ups to worry about. The VIX declined by -10.77%. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Economic Indicators The US Dollar (DXY) advanced for a second day. US Treasury 30y (US30Y), 10y (US10Y) had another day of big gains while the 2y (US02Y) bond yield stayed flat. The yield spread widened again. Corporate Bonds (HYG) prices increased while short term treasury bond (IEI) prices dropped. Silver (SILVER) and Gold (GOLD) both declined for a second day. Crude Oil (CRUDEOIL1!) futures advanced to the highest since February 2020. Timber (WOOD) continued the breakout from a recent base. Copper (COPPER1!) advanced while Aluminum (ALI1!) remained near flat. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Investor Sentiment The put/call ratio dropped to 0.552 as investor optimism gets very bullish. The put/call ratio (PCCE) is a contrarian indicator that shows overly bullish or overly bearish investor behavior. The 0.7 level is considered normal. As it approaches 0.60 (overly bullish) and below, watch for a possible pullback in the market. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Market Leaders The biggest four mega-caps all advanced for the day. Apple (AAPL), Microsoft (MSFT), Alphabet (GOOGL) regained losses from the previous day. Amazon (AMZN) had gains early in the day, but then sold off to close below its 21d EMA and 50d MA. Microsoft closed below its 21d EMA. Nvidia (NVDA) is near the top of the mega-caps list, gaining +5.78% after being at the bottom yesterday. Tesla (TSLA) gained +7.94% while Taiwan Semiconductor (TSM) gained +5.03%. PayPal (PYPL) also reversed losses with a +3.62% gain. Most growth stocks did very well for the day with NIO (NIO +7.49%), Cloudflare (NET +7.85%) and Peloton (7.12%) joining Tesla at the top of the list. Twitter (TWTR -1.75%) had losses, possibly due to the turmoil around Trump's twitter account (seen as a boost to twitter's traffic in recent years). Bed Bath & Beyond (BBY) missed quarterly revenue estimates and dropped 10%. They announced before market open. Semiconductor stock Micron Technology beating earnings and is up 1.45% in afterhours trading. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Looking ahead Friday will bring more updates on the labor market with Hourly Earnings, Nonfarm Payrolls and the Unemployment Rate data being released before market open. Later in the morning FOMC member Clarida will speak. No notable earnings reports are scheduled for Friday. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Trends, Support and Resistance The one-day trend points to a +1.38% gain. The long-term trend line from the 10/30 bottom points to a more modest gain of +0.41%. The five-day line points to a -0.61% loss. The index is well above the 21d EMA which has acted as support recently. That's -2.89% below the close. The index also held the 12,550 area this week. If it passes that area, the next support area is 12,250. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Wrap-up The market seems favorable to get past the volatility of the election drama, and that's understandable. Of course, there is probably some price discovery to happen across sectors as investors understand better the impact of a Democratic majority in Congress and a Democratic president in the White House. Stay healthy and take care!
NASDAQ:IXIC
by drewby4321
1
Daily Market Update for 1/6Trend lines drawn from the 10/30 bottom (46d), 12/30 (5d) and today 1/6 (1d).   Ideas always welcome in the comments. Errors will be amended as comments on TradingView or and corrected inline in my blog. I'm working to condense this daily update over the next few weeks. I need to reduce it for both brevity and preparation time. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Wednesday, January 6, 2021 Bold as Love Facts: -0.61%, Volume higher, Closing range: 35%, Body: 29% Good: Stayed above opening low, held support at around yesterday's low Bad: Sell-off in late afternoon Highs/Lows: Higher high, lower low Candle: Inverted hammer that signals buyers held support despite selling pressure Advance/Decline: 1.64, Three advancing stocks for every two declining stocks Indexes: SPX (+0.57%), DJI (+1.44%), RUT (+3.98%), VIX (-1.07%) Sectors: Financials (XLF +4.42%) and Materials (XLB +4.09%) were top. Communications (XLC -0.48%) and Technology (XLK -1.72%) were bottom. Expectation: Sideways or Higher -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Market Overview It was a wild day for the markets as unbelievable events unfolded in the US capitol. The Georgia run-off elections resulted in Democrats taking control of the Senate, realizing the blue wave that was original anticipated with the November elections. The Nasdaq shook off the initial rotation and rose to gains by mid-afternoon, but would sell-off as rioters stormed the US Capitol in protest of election outcomes. The index closed -0.61% on higher volume with a closing range of 35% and a body of 29%. More stocks advanced than declined. The other major indexes set new all-time highs before the afternoon sell-off. The rotation was moving investors back into Financials, Materials and Industrials as well as small-cap stocks. The Russell 2000 performed the best among the indexes, rising over 5% before settling back to just below 4% at close. The VIX declined by -1.07%. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Economic Indicators The US Dollar (DXY) advanced for the day. US Treasury 30y (US30Y), 10y (US10Y)and 2y (US02Y) bond yields all gained for the day. The yield curves expanded significantly. Corporate Bonds (HYG) price declined but were outpaced by the decline in short term treasury bond (IEI) prices. Silver (SILVER) and Gold (GOLD) both declined. Crude Oil (CRUDEOIL1!) futures advanced to the highest since February 2020. Timber (WOOD) broke out of a recent base. Copper (COPPER1!) advanced while Aluminum (ALI1!) declined. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Investor Sentiment The put/call ratio dropped to 0.570. The put/call ratio (PCCE) is a contrarian indicator that shows overly bullish or overly bearish investor behavior. The 0.7 level is considered normal. As it approaches 0.60 (overly bullish) and below, watch for a possible pullback in the market. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Market Leaders The biggest four mega-caps all declined sharply for the day as investors rotated away from big tech firms. Apple (AAPL), Microsoft (MSFT), Amazon (AMZN), Alphabet (GOOGL) all closed below their 21d EMA. Only Apple closed above its 30d MA. The financial mega-caps performed best for the day. Bank of America (BAC) and JP Morgan Chase (JPM) advanced 6.26% and 4.70% respectively. The anticipated stimulus from a blue wave government will raise yield prices, increasing interest rate income that benefits banks. Nvidia (NVDA) was among the big tech companies with a significant losses, dropping -5.90% for the day. Popular growth stocks were also impacted by the day's events. New energy stocks including Solar Edge (SEDG) did well. Gaming stocks Draft Kings and Penn National Gaming also closed the day with gains. Many other growth stocks closed with 5-6% losses. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Looking ahead Thursday will bring an update on Initial Jobless Claims before market open. Later in the morning, an update on non-manufacturing PMI data will be released indicating economic activity in service sectors. Two FOMC board members will speak tomorrow. Several retail companies will release earnings tomorrow including Walgreen Boots Alliance (WBA), Bed Bath & Beyond (BBBY) and Helen of Troy (HELE). Micron Technology (MU) will be the first of large semiconductors to announce earnings this year. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Trends, Support and Resistance The long-term trend line from the 10/30 bottom points to a +2.37% gain. The one-day trend points to a +0.71% gain. The five-day line points to a -0.06% loss. The index held the 12,550 area this week. If it passes that area, the next support area is 12,250. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Wrap-up It was a tough day. Not only was it tough as a trader, but it was tough to deal with what occurred in the US capitol. As a trader, give yourself time to reflect and observe and center yourself on your own trading system before making a plan for the rest of this week. The inverted hammer signals there was seller pressure in the afternoon, but buyers held support above the morning lows which was a positive sign heading into close. Stay healthy and take care!
NASDAQ:IXIC
by drewby4321
2
Amazon (AMZN), DJI, IXIC, SPX, XAUUSD, USOIL - January 7Happy New Year!!! Dear traders, nice to meet you. "Like" is a huge force for me. By "following" you can always get new information quickly. Thank you for always supporting me. -------------------------------------------------- ----- We'll have to see if we can quickly ascend above 3176.40 points. You need to make sure you can get support at point 3104.0. If you fall from 3104.0, you can touch 3008.91, so you need to trade carefully. ------------------------------- (DJI 1D chart) It started with a drop in the gap (30391.6-30362.8) and closed at 1.44%. We have to see if it can be located above the 30199.9 point. ------------------------------- (IXIC 1D chart) The gap (12819.0-12666.2) started lower and closed at -0.61%. We need to see if it can rise along the uptrend line (2). --------------------------------- (SPX 1D chart) It started with a drop in the gap (3726.9-3712.2) and closed at 0.57%. We have to see if it can rise within the rising channel. ---------------------------------- (XAUUSD 1D chart) You should watch for any movement that deviates from the 1899.330-1944.714 section. If you get support from the downtrend line, you can expect further gains. --------------------------------------- (USOIL 1D chart) We need to see if it can rise along the uptrend line (3). You should watch for any movement that deviates from 49.17-52.59. -------------------------------------------------- ------------------------------------------- ** All indicators are lagging indicators. So, it's important to be aware that the indicator moves accordingly with the movement of price and volume. Just for convenience, we are talking upside down for interpretation of the indicators. ** The wRSI_SR indicator is an indicator created by adding settings and options from the existing Stochastic RSI indicator. Hence, the interpretation is the same as the conventional Stochastic RSI indicator. (K, D line -> R, S line) ** Check support, resistance, and abbreviation points. ** Support or resistance is based on the closing price of the 1D chart. ** All explanations are for reference only and do not guarantee profit or loss on investment. Explanation of abbreviations displayed on the chart R: A point or section of resistance that requires a response to preserve profits S-L: Stop Loss point or section S: A point or segment that can be bought for profit generation as a support point or segment (Short-term Stop Loss can be said to be a point where profits or losses can be preserved or additionally entered through installment transactions. It is a short-term investment perspective. GAP refers to the difference in prices that occurred when the stock market, CME, and BAKKT exchanges were closed because they do not trade 24 hours a day. G1: closing price when closed G2: Market price at the time of opening (Example) Gap (G1-G2)
NASDAQ:AMZN
by readCrypto
Amazon (AMZN), DJI, IXIC, SPX, XAUUSD, USOIL - January 6Happy New Year!!! Dear traders, nice to meet you. "Like" is a huge force for me. By "following" you can always get new information quickly. Thank you for always supporting me. -------------------------------------------------- ----- With support at 3176.40, we have to see if we can break above the Hara trend line again. From the wRSI_SR indicator, the RS line fell below 20 and entered the oversold section. Accordingly, we need to make sure we can get support at 3176.46. If you can't break above the downtrend line, you can touch the 3008.91 point, so you need to trade carefully. ------------------------------- (DJI 1D chart) It started with a fall in the gap (30223.9-30204.3) and closed at 0.55%. We have to see if it can be located above the 30199.9 point. -------------------------------- (IXIC 1D chart) It started with the gap (12698.4-12665.7) falling and closed at 0.95%. We need to see if it can rise along the uptrend line (2). ----------------------------------- (SPX 1D chart) It started with a drop in the gap (3700.7-3698.0) and closed at 0.71%. We have to see if it can rise within the rising channel. --------------------------------------- (XAUUSD 1D chart) You need to make sure you can get support above the 1940.498 point. It remains to be seen if the same flow as on November 9, 2020 comes out. Accordingly, it is important to get support above the 1940.498 point. It remains to be seen if the volatility around the 13th of January results in a movement deviating from the 1899.330-1975.962 range. ----------------------------------------- (USOIL 1D chart) We need to see if we can get support at 49.17 and move up along the upward trend line (3). It remains to be seen if the volatility around January 15 causes any movement outside the 49.17-52.59 range. -------------------------------------------------- ------------------------------------------- ** All indicators are lagging indicators. So, it's important to be aware that the indicator moves accordingly with the movement of price and volume. Just for convenience, we are talking upside down for interpretation of the indicators. ** The wRSI_SR indicator is an indicator created by adding settings and options from the existing Stochastic RSI indicator. Hence, the interpretation is the same as the conventional Stochastic RSI indicator. (K, D line -> R, S line) ** Check support, resistance, and abbreviation points. ** Support or resistance is based on the closing price of the 1D chart. ** All explanations are for reference only and do not guarantee profit or loss on investment. Explanation of abbreviations displayed on the chart R: A point or section of resistance that requires a response to preserve profits S-L: Stop Loss point or section S: A point or segment that can be bought for profit generation as a support point or segment (Short-term Stop Loss can be said to be a point where profits or losses can be preserved or additionally entered through installment transactions. It is a short-term investment perspective. GAP refers to the difference in prices that occurred when the stock market, CME, and BAKKT exchanges were closed because they do not trade 24 hours a day. G1: Closed price G2: Market price at the time of opening (Example) Gap (G1-G2)
NASDAQ:AMZN
by readCrypto
1
Daily Market Update for 1/5Trend lines drawn from the 10/30 bottom (45d), 12/29 (5d) and today 1/5 (1d).   Ideas always welcome in the comments. Errors will be amended as comments on TradingView or and corrected inline in my blog. I'm working to condense this daily update over the next few weeks. I need to reduce it for both brevity and preparation time. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Tuesday, January 5, 2021 There must be some kind of way outta here Facts: +0.95%, Volume higher, Closing range: 94%, Body: 94% Good: Solid day of gains, no lower wick Bad: Nothing Highs/Lows: Lower high, higher low Candle: Inside day, bullish green body with no lower wick and tiny upper wick Advance/Decline: 2.39, More than two advancing stocks for every declining stock Indexes: SPX (+0.71%), DJI (+0.55%), RUT (+1.71%), VIX (-6.04%) Sectors: Energy (XLE +4.48%) and Materials (XLB +2.25%) were top. Utilities (XLU -0.02%) and Real Estate (XLRE -0.11%) were worst performing Expectation: Sideways or Higher -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Market Overview The Nasdaq followed yesterday's bearish session with a bullish rebound today. There is still work to do to get back to all-time highs, but the gains were steady throughout the day as the index never revisited the morning low. The index closed the day with a +0.95% gain on higher volume, closing range of 94% and a thick green body of 94%. The lower wick doesn't exist and the upper wick is very tiny. More than two stocks advanced for every declining stock. All major indexes had gains for the day. The S&P 500, Dow Jones Industrial and Russell 200 had similar bullish inside days. The VIX dropped back -6.04%, but still at an elevated level. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Economic Indicators The US Dollar (DXY) declined for another day as it sits within a support range from early 2018. US Treasury 30y (US30Y), 10y (US10Y)and 2y (US02Y) bond yields all gained for the day. Corporate Bonds (HYG) prices stayed about the same while short term treasury bond (IEI) prices dropped. Silver (SILVER) and Gold (GOLD) both increased for a second day. Crude Oil (CRUDEOIL1!) futures advanced. Timber (WOOD) is up but moving in a sideways trend. Copper (COPPER1!) and Aluminum (ALI1!) advanced. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Investor Sentiment The put/call ratio dropped to 0.592. The put/call ratio (PCCE) is a contrarian indicator that shows overly bullish or overly bearish investor behavior. The 0.7 level is considered normal. As it approaches 0.60 (overly bullish) and below, watch for a possible pullback in the market. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Market Leaders The biggest four mega-caps all advanced for the day. Apple (AAPL) and Amazon (AMZN) closed above its 21d EMA. Microsoft (MSFT) and Alphabet (GOOGL)closed below the 21d EMA but above the 50d MA. Alibaba (BABA) was one of the top mega-cap gainers with a 5.51% advance. Nvidia, Intel and PayPal were the other large mega-caps with top gains for the day. Visa (V) and Mastercard (M) were at the bottom of the mega-cap list with >1% losses. Many growth stocks advanced for the day with Chinese stocks FUTU Holdings (FUTU) and JD.Com (JD) topping the list at 19.76% and 10.62% gains respectively. Several others including FVRR, PENN and DKNG all had huge gains. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Looking ahead Tomorrow morning, ADP Nonfarm Employment data for December will be released before market open. Additional pricing index data will be released just after open. Crude Oil Inventories will be updated at 10:30. Finally, the FOMC Meeting minutes from the December meeting will be released in the afternoon. No notable earnings announcements are scheduled for Wednesday. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Trends, Support and Resistance The long-term trend line from the 10/30 bottom points to a +1.97% gain. The one-day trend points to a +0.66% gain. The five-day line points to a -0.99% loss. The index held the 12,550 area today. If it passes that area, the next support area is 12,250. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Wrap-up The bullish reversal from yesterday's bearish day was a pleasant surprise today. Possibly buoyed by positive Manufacturing data that shows growth in economic activity. Additional data released tomorrow could strengthen that positive outlook. All eyes will be on the Senate race as Georgia is starting to count votes as I write this. The outcome could have an impact on how investors position themselves for the next year. With Biden in the Whitehouse, a Democratic controlled Senate would have a very different impact on the markets than a Republican controlled Senate. Stay healthy and take care!
NASDAQ:IXIC
by drewby4321
Daily Market Update for 1/4Trend lines drawn from the 10/30 bottom (44d), 12/28 (5d) and today 1/4 (1d).   Ideas always welcome in the comments. Errors will be amended as comments on TradingView or and corrected inline in my blog. I'm working to condense this daily update over the next few weeks. I need to reduce it for both brevity and preparation time. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Monday, January 4, 2021 Lately things, they don't seem the same Facts: -1.47%, Volume higher, Closing range: 37%, Body: 63% Good: Held support around 12,550, some recovery off lows Bad: Thick red body, no upper wick Highs/Lows: Higher high, lower low Candle: Bearish engulfing candle with thick body over long lower wick Advance/Decline: 0.84, more declining than advancing stocks Indexes: SPX (-1.48%), DJI (-1.25%), RUT (-1.47%), VIX (+18.55%) Sectors: Energy (XLE +0.16%) was the only gaining sector. Utilities (XLU -2.52%) and Real Estate (XLRE -3.23%) were worst performing Expectation: Sideways or Lower -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Market Overview It was not a great start to 2021 with the equity markets selling off significantly throughout the day after making morning highs. The Nasdaq nearly reach its all-time high before selling off sharply in the morning. Recovery in the afternoon was not nearly enough to be seen as a positive. The index closed down -1.45% with a closing range of 37% and a thick red body of 63%. The higher high and lower low than the previous day represents a bearish engulfing candle that can indicate bearish sentiment in the market. There were more declining stocks than advancing stocks. All major indexes had similar bearish days. Each took a trip below the 21d EMA line but all were able to close above the key support line. Closing above the 21d EMA is a positive. However, the VIX spiked over 28% before settling down to an 18.55% gain for the day. That is the second such spike over 20% in the last 9 trading sessions. Those spikes are not a good sign for the markets health. The VIX closed at this same level on September 2nd, just before a big correction. It stayed around this level throughout September and October, before finally coming down in November and December. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Economic Indicators The US Dollar (DXY) declined into the new year. US Treasury 30y (US30Y) Bond yields rose while the shorter term 10y (US10Y)and 2y (US02Y) bond yields dropped. Corporate Bonds (HYG) prices declined as investors sold the riskier bonds for safer bets in short term treasury bonds (IEI). Silver (SILVER) and Gold (GOLD) both increased significantly for the day. Crude Oil (CRUDEOIL1!) futures declined. Timber (WOOD) is moving sideways. Copper (COPPER1!) and Aluminum (ALI1!) advanced. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Investor Sentiment   Despite a drop in market prices, the put/call ratio dropped to 0.659. The put/call ratio (PCCE) is a contrarian indicator that shows overly bullish or overly bearish investor behavior. The 0.7 level is considered normal. As it approaches 0.60 (overly bullish) and below, watch for a possible pullback in the market. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Market Leaders   The biggest for mega-caps all declined for the day. Apple (AAPL) was the only to close above its 21d EMA. Microsoft (MSFT) and Amazon (AMZN) dipped below both the 21d EMA and 50d MA but closed above the 50d MA. Alphabet (GOOGL) closed below its 21d EMA and 50d MA. This action signals weakness in the mega-caps that have a huge influence over the rest of the market. Tesla (TSLA) had a positive day gaining 3.42%. Taiwan Semiconductor (TSM) and Nvidia (NVDA) also had gains for the days. AT&T (T) and Walmart (WMT) were other mega-caps that did well. Electric Vehicle stock NIO (NIO) gained +9.75%. Zoom Video (ZM) had a huge gain on fears of new lock downs in the US and Europe. Pinterest (PINS) also did well. Many other growth stocks did not fare well for the day. Digital Turbine (APPS), DataDog (DDOG) and Sumo Logic (SUMO) all lost over 7%. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Looking ahead Tuesday will bring Manufacturing PMI data for December mid-morning. FOMC Member Williams will speak in the afternoon. However, all eyes will be on election news in Georgia as voters will determine which party controls the Senate. No notable earnings announcements are scheduled for Tuesday. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Trends, Support and Resistance The long-term trend line from the 10/30 bottom points to a +2.90% gain. The five-day trend points to a sideways move with no gain/loss. The one-day line points to a -2.13% loss. The index held the 12,550 area today. If it passes that area, the next support area is 12,250. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Wrap-up It was not a great start to the year. However, it's no abnormal for some price discovery in the first week of January. Things could be turned upside down based on the election results in Georgia. We then have another day of tension to get past the certification of the electoral votes in Congress. On top of all that is new pandemic lockdowns in Europe and the possibility for new lockdowns in the US. It could be a another rough week, keep an eye on your stop loss orders and look for more stability later in January. Stay healthy and take care!
NASDAQ:IXIC
by drewby4321
The January Effect ExplainedIn this post, I'll be talking about the January Effect as the stock market looks to open for the first time in 2021. The January Effect - This is a hypothesis that securities' prices rise in January more than any other month of the year. - This allows investors to purchase prices prior to January, when it's relatively undervalued, and sell for a profit in January when prices are valued at the right price/overvalued. - The premise of this hypothesis is that the market is inefficient - There have been many arguments posed to explain this phenomenon - Some say that this is due to the sell-off that occurs during December, as investors realize their capital gains - Others say that it has to do with people investing their year-end bonus into the financial markets - Nonetheless, it's important to understand that the January Effect does not take place all the time. Mike's Insight A lot of the major companies, almost dominantly tech companies, which lead the indicators have had a decent year despite the chaos. Additionally, with the stimulus package and expectations regarding covid vaccines, I believe that there's a high probability that we'll witness the January Effect this year. If you like this educational post, please make sure to like, and follow for more quality content! If you have any questions or comments, feel free to comment below! :)
TVC:IXIC
by Michael_Wang_Official
3
Market Week In Review - 12/28/2020 - 12/31/2020The Market Week in Review is my weekend homework where I look over what happened in the previous week and what might come in the next week. It helps me evaluate my observations, recognize new data points, and create a plan for possible scenarios in the future. I do occasionally have some errors or typos and will correct them in my blog or in the comments on TradingView. I do not have an editor and do this in my free time. If you find this helpful, please let me know in the comments. I am also more than happy to add new perspectives and data points if you have ideas. The structure is the following: A recap of the daily updates that I do here on TradingView. The Meaning of Life, a view on the past week What's coming in the next week The Bullish View, The Bearish View Key index levels to watch out for Wrap-up If you have been following my daily updates, you can skip down to the “The Meaning of Life”. If not, then this first part is a great play-by-play recap for the week. Click the original charts for more detail each day. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Monday, December 28, 2020 Oh I bet you think you're John Wayne Facts: +0.74%, Volume higher, Closing range: 70%, Body: 15% Good: New all-time high, filled morning gap, closed in upper half Bad: Could not close above open Highs/Lows: Higher high, higher low Candle: Dip in morning caused long lower wick, thin body in upper half Advance/Decline: 1.08, about even advancing and declining stocks Sectors: Communications (XLC +1.80%), Consumer Discretionary (XLY +1.14%), Technology (XLK +1.13%) were top. Energy (XLE -0.63%) was the worst performing, the only losing sector. Expectation: Sideways or Higher The Nasdaq came back from a long weekend with a gap-up on stimulus news that quickly sold-off to fill the gap. It then rose into the afternoon to set a new all-time high and then finish with a bit of selling late in the session. The index closed with a +0.74% gain. The closing range was 70% with a thin body of 15% in the upper half of the candle. Volume was higher, but only compared to a short session on Thursday. There were just a bit more advancing stocks than declining stocks. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Tuesday, December 29, 2020 It's coming down on me Water like misery Facts: -0.38%, Volume lower, Closing range: 19%, Body: 76% Good: New all-time high, held support above 12,800 Bad: Long red body, selling from open to close Highs/Lows: Higher high, lower low Candle: Long red body, short upper and lower wick Advance/Decline: 0.41, more than two declining for every advancing stock Sectors: Health (XLV +0.47%) and Consumer Discretionary (XLY +0.03%) are top. Real Estate (XLRE -0.77%) was bottom. Expectation: Lower The Nasdaq started the day by setting a new all-time high but quickly reversed downward and sold off the rest of the day. Still, it held above the 12,800 area which seems to be new support. The index closed with a -0.38% loss on lower volume. The closing range of 19% and 76% red body show the high open and intraday move to close near the low. Over two stocks declined for every advancing stock on the Nasdaq. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Wednesday, December 30, 2020 It took me so long getting back to my right mind. Facts: +0.15%, Volume higher, Closing range: 18%, Body: 54% Good: Stayed above yesterday's low Bad: Longer upper wick, closing range near bottom Highs/Lows: Lower high, higher low Candle: Outside day, >50% red body, longer upper wick Advance/Decline: 2.24, more than two advancing stocks for every declining stock Sectors: Energy (XLE +1.57%) and Materials (XLB +1.38%) are top. Communications (XLC -0.67%) was bottom. Expectation: Lower It's been a third day of rotation in the market as the money that supported a move from smaller-caps to larger-caps on Monday transitioned back to smaller-caps today (small and mid-caps). The result was a larger breadth of stocks advancing, but a bearish looking inside day for the Nasdaq. The index closed up +0.15% on higher volume. That was the good news. The closing range of 18% and 54% red body point to a more bearish view of the day. More than two stocks advanced for every declining stock. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Thursday, December 31, 2020 Sun, sun, sun, here it comes Facts: +0.14%, Volume higher, Closing range: 83%, Body: 14% Good: Close high in the day's range Bad: LH/LL, spent long time near lows Highs/Lows: Lower high, lower low Candle: Indecisive candle with a longer lower wick Advance/Decline: 0.86, more declining than advancing stocks Sectors: Utilities (XLU +1.49%), Financials (XLF +1.24%) at the top. Energy (XLE -0.84%) is the only losing sector. Expectation: Sideways or Higher The last trading day of 2020, finished a week of sideways movement in the market with an indecisive day. The body of only 14% shows the close is not very far above the open. The index closed with a 0.14% gain and a closing range of 83%. Volume was slightly higher than the previous day. There were more declining stocks than advancing stocks. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- The Meaning of Life (View on the Week) Happy New Year! The last week of trading in the Nasdaq resulted a pop on Monday that then moved sideways the rest of the week. The index did manage to set a new all-time high and close with a +0.65% for the week. But the close is just below the open, resulting in a spinning top style candle that marks some indecision. The lower closing range of 44% is still a positive as we like to see it above 40%. The Russell 2000 (RUT) ended its eight week winning streak by losing -0.26% for this week, after setting another new all-time high. The S&P 500 (SPX) and Dow Jones Industrial (DJI) both had bullish weeks with +0.64% and +0.65% gains respectively. For the Nasdaq, Monday started with a gap-up on positive stimulus news, but quickly filled the gap during morning selling. Even with the selling, the index could stay above the previous Friday's close and end the day in the upper range of the candle. Growth stocks gave up recent gains as investors moved money back into larger-cap stocks. That would be the story for most of the week. Tuesday brought a very bearish day of trading as the Nasdaq lost for the day, opening with a new all-time high, but closing below Monday's close. The bearish candle was representative of over two declining stocks for every advancing stock on the index. Wednesday would be the one bright spot for small caps as the Russell 2000 had its only positive day of the week. Breadth seemed to come back into the market as small-caps and several growth stocks made gains. But Thursday finally ended the week with expected defensive moves into Utilities and Value (see VTV and IUSV as examples) stocks as investors prepared for a long weekend and also a turnover to the new year. The weekly chart shows the spinning top candle with a bit of bearishness to it, despite the index ending the week in the positive. On the positive side, the candle shows a higher high and a higher low. The closing range of 44% is not great, but also not bad, since we look for a closing range above 40%. Communications ( XLC ) and Consumer Discretionary ( XLY ) spent about half the week each at the top of the sector list. But it was Utilities ( XLU ) that would rise at the end of the week as the winner. No doubt a defensive play going into the long weekend and a turn of the clock to a new year. Energy ( XLE ) had a very short-lived time at that top on Monday morning, but ended the week as the worst performing sector. Energy was the only sector to end the week with a loss. US Treasury Bond Yields dropped for a second week. The spreads between long term and short term bonds tightened slightly. The US 30y and US 10y yields are both in uptrends as investors are not interested in the long term bonds. The US 2y yield is in a sideways to downward trend. Prices for corporate bonds (HYG) continues to trend upward while short-term treasury bond prices (IEI) trend sideways, signaling confidence in the economy from investors. The US dollar (DXY) declined -0.32% for the week. The dollar is at a support/resistance area formed in the first quarter of 2018. The put/call ratio (PCCE) ended the week at 0.688. The level is more comfortable than the overly bullish levels seen in recent weeks. A contrarian indicator, when the put/call ratio is below 0.7, it signals overly bullish sentiment which typically proceeds a pullback in the market. The indicator was at 0.458 just before the September correction and it was at 0.489 just before the short October correction. Silver (SILVER) was up +2.08% for the week while Gold (GOLD) rose +1.01%. Crude Oil was down -0.76%. Timber (WOOD) was up +0.61%. Copper (COPPER!1) pulled back with a -1.92% loss while Aluminum (ALI1!) declined -2.12%. Of the four largest mega-caps, only Microsoft (MSFT) closed the week with a loss, declining -0.15% for the week. Amazon (AMZN) had the largest gain moving +2.66%. Alphabet (GOOGLE) was up +1.07% for the week, and closed above its 10w MA line. Apple (AAPL) gained +0.55%. Interesting chart of Growth vs Value stocks on a monthly basis. Value stocks still have a ways to catch up to Growth stocks in 2021. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- The Week Ahead The first week of the year will kick-off with an OPEC meeting on Monday morning. Manufacturing PMI data for December earlier in the week will give an update on manufacturing data. Crude Oil inventories and updated employment data will come later in the week. FOMC meeting minutes from a few weeks ago will be released on Wednesday providing more insight into policy decisions. It will be a light week for earnings reports. Some retailers including Bed Bath & Beyond (BBBY), Walgreen Boots Alliance (WBA) and Helen of Troy (HELE) will release earnings on Thursday. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- The Bullish Side The last week of the 2021 year was a bit rough with rotations from smaller caps to larger caps, several industry sectors, and a big move at the end of the week into Utilities sector. That may have felt bearish for some investors and bullish for others. Looking at the Nasdaq chart, we see a higher high and a lower low on top of a decent gain. Confirmed by the bullish SPX and DJI charts. Although investors moved into defensive positions at the end of the week, the money stayed within equity markets with relatively little movement to treasury bonds. The demand for corporate bonds also shows that investors are bullish on the recovery for US companies. The stimulus that was signed into law early last week will start to filter into areas of the economy most in need, including checks for individuals. There was a spike in demand for Oil as travelers put pandemic worries aside and hit the road for the holidays. Europeans signed a huge trade deal with China while tensions between the UK and Europe should start to ease as the Brexit deal was finally agreed. As vaccines continue to be distributed across Europe, the end to lockdowns should be near, just in time for the increased economic opportunities. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- The Bearish Side Next week will bring the Georgia run-off elections which will determine if the Republicans or Democrats will control the Senate. A win for the Democrats will mean another shift back toward Blue Wave investments. The shift will no doubt benefit some while catching others off guard. The meteoric rise in Bitcoin over the last few weeks brings with it lots of questions. Is it speculative investors jumping in at new all-time highs? More likely is smart money buying up bitcoin as a hedge against the devaluation of world currencies, one of the well-known advantages of bitcoin. That, and some speculative investment. The smart money moving in could be a warning signal for the economy just as any other indicator based on treasury bonds, currency movements or commodities. After several weeks of higher highs and higher lows, the market could be due for more of a pullback. The 50d moving average line is about 6.5% below Thursday's close. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Key Nasdaq Levels to Watch There are several key levels in the Nasdaq to keep an eye out for and respond accordingly. First on the positive side: The high of Tuesday at 12,973.33 will be the first test. A new high to start the week would be a positive sign to continue the current rally. The index is just below the round number of 13,000. Round-number resistance is caused by traders’ tendency to put in sell orders at round numbers. On the downside, there are several key levels to raise caution flags: 12,821.23 is the low of this week. Staying above the low would put in another week of higher lows. 12,800 is the next support area. The index has traded around that area the last few weeks. The 21d EMA is at 12,612.94. The index has closed above this moving average line for the last 40 trading days. The support area of 12,250 is the next support area. Hopefully, that area will hold the index above that price level. The 50d MA is at 12,078.79. That is ~6.5% below Thursday's close. Testing the 50d MA will make a lot of investors nervous, already causing a big hit to portfolios. November support area is at 12,000 and a round-number point. A move below this line would raise more flags for investors. September Support line is at 11,300. Dropping to this level would be a sure sign of correction. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Wrap-up I hope you have a great start to the New Year and wish you many great successes in 2021! Good luck, stay healthy and trade safe!
NASDAQ:IXIC
by drewby4321
Daily Market Update for 12/31Trend lines drawn from the 10/30 bottom (43d), 12/24 (5d) and today 12/31 (1d).   Ideas always welcome in the comments. Errors will be amended as comments on TradingView or and corrected inline in my blog. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Thursday, December 31, 2020 Sun, sun, sun, here it comes Facts: +0.14%, Volume higher, Closing range: 83%, Body: 14% Good: Close high in the day's range Bad: LH/LL, spent long time near lows Highs/Lows: Lower high, lower low Candle: Indecisive candle with a longer lower wick Advance/Decline: 0.86, more declining than advancing stocks Sectors: Utilities (XLU +1.49%), Financials (XLF +1.24%) at the top. Energy (XLE -0.84%) is the only losing sector. Expectation: Sideways or Higher -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Market Overview The last trading day of 2020, finished a week of sideways movement in the market with an indecisive day. The body of only 14% shows the close is not very far above the open. The index closed with a 0.14% gain and a closing range of 83%. Volume was slightly higher than the previous day. There were more declining stocks than advancing stocks. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Indexes and Sectors The S&P 500 (SPX +0.64%) and Dow Jones Industrial (DJI +0.65%) set new all-time highs to end the year while the Russell 2000 (RUT -0.26%) continued a year-end pullback. Utilities (XLU +1.49%) and Financials (XLF +1.24%) led the sectors, with Utilities getting a big boost at the end of the day as a defensive play going into a long weekend. Energy (XLE -0.84%) was the only losing sector for the day. The VIX volatility index declined by -0.09%. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Market Indicators   Yields declined on US 30y, 10y and 2y treasury bonds. The spread between long term and short term bonds tightened slightly. Corporate bond prices (HYG +0.08%) rose for the day, tightening the yield spread with short term bonds (IEI +0.04%).     The US dollar (DXY +0.29%) rose for the day. Silver (SILVER -0.99%) declined while Gold (GOLD +0.19%) advanced for the day. Crude Oil futures (CRUDEOIL1! +0.17%) rose. Timber (WOOD -0.53%) declined. Copper (COPPER1! -0.88%) and Aluminum (ALI1! -1.70%) declined.   The put/call ratio rose to 0.688. The put/call ratio (PCCE) is a contrarian indicator that shows overly bullish or overly bearish investor behavior. The 0.7 level is considered normal. As it approaches 0.60 (overly bullish) and below, watch for a possible pullback in the market. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Market Leaders   Microsoft (MSFT +0.33%) and Alphabet (GOOGL +0.94%) advanced for the day while Apple (AAPL -0.77%) and Amazon (AMZN -0.88%) declined. Alphabet closed above its 21d EMA. All four biggest mega-caps are trading above the key moving averages. Top performing mega-caps included Netflix (NFLX +3.08%), Comcast (CMCSA +2.32%), Intel (INTC +2.19%) and UnitedHealth Group (UNH +0.44%). Some growth stocks did well on the last day of the year, but most had declines. Tesla (TSLA +1.57%), Zynga (ZNGA +1.54%), SNAP (SNAP +1.46%) and PayPal (PYPL +1.16%) were among the top performers. Fastly (FSLY -3.38%), Zoom Video (ZM -4.55%), Draft Kings (DKNG -4.88%) and Fiverr (FVRR -5.02%) had big declines. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Looking ahead Monday will be the first trading day of 2021. An OPEC meeting will open the week. Manufacturing PMI data will be released just after markets open. Later in the morning, FOMC Member Bostic will make public comments. The afternoon will bring updates on speculative positions for several commodities. No notable earnings announcements are scheduled for Monday. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Trends, Support and Resistance The long-term trend line from the 10/30 bottom points to a +1.20% gain The five-day trend and one-day trend lines point to a small loss of -0.13%. As the calendar turns over to the new year, market sentiment may change as well. If the index moves down, there seems to be a support level from 12,750 to 12,800 where the index can pause during a pullback. The previous support level is around 12,500. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Wrap-up The market did not really move much this week. The weekly candle is an indecisive spinning top where the top and bottom wicks are similar in length, while the body is thin with the closing price for the week being very near the open. The next week will bring some uncertainty around the elections in Georgia and the drama of the electoral vote confirmation in congress. Keep to your trading rules to avoid overreacting to news. The index will pass 200 trading days since the March bottom this week. That will soon bring the popular 200d moving average much closer to current prices. It's currently 18% below the index. Having the 200d moving average in play, will be another area of support/resistance as the market moves into 2021. Stay healthy and take care!
NASDAQ:IXIC
by drewby4321
Amazon (AMZN), DJI, IXIC, SPX, XAUUSD, USOIL - December 31Hello? Dear traders, nice to meet you. "Like" is a huge force for me. By "following" you can always get new information quickly. Thank you for always supporting me. -------------------------------------------------- ----- We need to make sure we can get support at point 3294.62. It remains to be seen if it can break above the downtrend line (2)-(3). If it falls from 3176.40 point, you can touch 3008.91 point, so you need Stop Loss to preserve profit and loss. With support at the 3344.29 point, a move to renew the New High is expected. ------------------------------ (DJI 1D chart) It started with the gap (30335.7-30415.1) rising and closed at 0.24%. ------------------------------- (IXIC 1D chart) It started with the gap (12850.2-12906.5) rising and closed at 0.15%. --------------------------------- (SPX 1D chart) It started with the gap (3727.0-3736.2) rising and closed at 0.13%. --------------------------------- (XAUUSD 1D chart) You must see if you can climb above the 1899.330 point for support. We also have to see if we can create a new wave by breaking above the downtrend line (6)-(5). If you fail to break through the downtrend line (6)-(5), you will likely touch the uptrend line (4), so you need to trade carefully. ------------------------------------------- (USOIL 1D chart) You should watch for any movement that deviates from the 42.76-49.17 segment. You need to make sure you can get support at 48.24. -------------------------------------------------- ------------------------------------------- ** All indicators are lagging indicators. So, it's important to be aware that the indicator moves accordingly with the movement of price and volume. Just for convenience, we are talking upside down for interpretation of the indicators. ** The wRSI_SR indicator is an indicator created by adding settings and options from the existing Stochastic RSI indicator. Hence, the interpretation is the same as the conventional Stochastic RSI indicator. (K, D line -> R, S line) ** Check support, resistance, and abbreviation points. ** Support or resistance is based on the closing price of the 1D chart. ** All explanations are for reference only and do not guarantee profit or loss on investment. Explanation of abbreviations displayed on the chart R: A point or section of resistance that requires a response to preserve profits S-L: Stop Loss point or section S: A point or segment that can be bought for profit generation as a support point or segment (Short-term Stop Loss can be said to be a point where profits or losses can be preserved or additionally entered through installment transactions. It is a short-term investment perspective.) GAP refers to the difference in prices that occurred when the stock market, CME, and BAKKT exchanges were closed because they do not trade 24 hours a day. G1: Closed price G2: Market price at the time of opening (Example) Gap (G1-G2)
NASDAQ:AMZN
by readCrypto
Daily Market Update for 12/30Trend lines drawn from the 10/30 bottom (42d), 12/23 (5d) and today 12/30 (1d).   Ideas always welcome in the comments. Errors will be amended as comments on TradingView or and corrected inline in my blog. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Wednesday, December 30, 2020 It took me so long getting back to my right mind. Facts: +0.15%, Volume higher, Closing range: 18%, Body: 54% Good: Stayed above yesterday's low Bad: Longer upper wick, closing range near bottom Highs/Lows: Lower high, higher low Candle: Outside day, >50% red body, longer upper wick Advance/Decline: 2.24, more than two advancing stocks for every declining stock Sectors: Energy (XLE +1.57%) and Materials (XLB +1.38%) are top. Communications (XLC -0.67%) was bottom. Expectation: Lower -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Market Overview It's been a third day of rotation in the market as the money that supported a move from smaller-caps to larger-caps on Monday transitioned back to smaller-caps today (small and mid-caps). The result was a larger breadth of stocks advancing, but a bearish looking inside day for the Nasdaq. The index closed up +0.15% on higher volume. That was the good news. The closing range of 18% and 54% red body point to a more bearish view of the day. More than two stocks advanced for every declining stock. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Indexes and Sectors All major indexes were up for the day with the Russell 2000 (RUT +1.05%) leading with the biggest gain. The S&P 500 (SPX +0.13%) and the Dow Jones Industrial (DJI +0.24%) also had gains. Each of the indexes had inside days where the low was higher than the previous day's low, but the high is lower than the previous day's high. The RUT is the only index that showed a bullish character in the candle. Energy (XLE +1.57%) and Materials (XLB +1.38%) were the leading sectors, likely given a boost by the Crude Oil Inventories data, which was lower than expected, revealing a surprising level of demand. Communications (XLC -0.67%) was the bottom sector, a change from the past two days where the sector has done well. The VIX volatility index declined by -1.34%. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Market Indicators   Yields declined on US 30y, 10y and 2y treasury bonds. The spread between long term and short term bonds tightened slightly. The bond market has been up and down slightly, but acting fairly consistent the past two weeks. Corporate bond prices (HYG +0.21%) rose for the day, widening the yield spread with short term bonds (IEI +0.08%).     The US dollar (DXY -0.35%) dropped for the day. It's again testing the support level from early 2018. Silver (SILVER +1.54%) and Gold (GOLD +0.86%) advanced for the day. Crude Oil futures (CRUDEOIL1! -0.26%) declined, despite the positive inventories data. Timber (WOOD +0.69%) advanced, continuing a week-long uptrend. Copper (COPPER1! -0.39%) declined while Aluminum (ALI1! +0.60%) advanced.   The put/call ratio rose to 0.629. The put/call ratio (PCCE) is a contrarian indicator that shows overly bullish or overly bearish investor behavior. The 0.7 level is considered normal. As it approaches 0.60 (overly bullish) and below, watch for a possible pullback in the market. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Market Leaders   The biggest four mega-caps all declined for the day. Apple (AAPL -0.85%), Microsoft (MSFT -1.1%), Amazon (AMZN -1.09%), and Alphabet (GOOGL -1.22%) dropped back from recent gains. Alphabet closed back below its 21d EMA but remains above its 50d MA. Several mega-caps did very well. Tesla (TSLA +4.32%) set a new all-time high before falling back just beneath the previous all-time high. Taiwan Semiconductor (TSM +3.16%) and Walt Disney (DIS +2.18%) also had great gains. Mastercard (MA +2.56%) and Visa (V +1.86%) both had very positive days. Facebook (FB -1.77%) and Netflix (NFLX -1.18%) led the Communications sector lower. Several growth stocks reversed the weeks earlier declines. Digital Turbine (APPS +7.55%), Fiverr (FVRR +3.75%) and Solar Edge (SEDG +3.61%) were among the top gainers. Also NIO (NIO +4.85%) and JD.com (JD +3.92%) are among Chinese stocks that have done well in the past two sessions, perhaps due to trade agreements between the European Union and China. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Looking ahead Thursday will be the last trading session of the year. New Years Eve! New employment data will be released prior to market open on Thursday. No notable earnings announcements are scheduled for Thursday. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Trends, Support and Resistance The long-term trend line from the 10/30 bottom points to a +1.19% gain, while the five-day trend points to a smaller gain of +0.42%. If the market follows the one-day trend it would be a sideways move that results in a -0.06% loss. It seems the market is actually holding up well, despite the series of red candles. However, if the index moves down, there seems to be a support level from 12,450 to 12,550 (has not been tested much) where the index can pause during a pullback. The previous support level is around 12,250. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Wrap-up The three red candles for the week are a bit tricky to figure out. They look bearish, but keep in mind that the low of this week is above the close of the previous week. The candles are more representative of the heavy rotation among small and large cap segments. I've set the expectation for Lower the past two days. That is based on the candles and not so much a bearish view of the market. There is no concerning level of defensive plays within the equity markets or in safe havens such as treasury bonds. In fact, investors are buying up corporate bonds as they see economic recovery coming. The US dollar is still weakening and that is something to watch for as some weakening is good, but excessive weakening would likely cause corrective actions that would put pressure on equity markets. I'm looking for the market to confirm my bullish view by breaking the expectation of Lower in today's analysis. At the same time, a Lower move that doesn't breakthrough support levels is certainly acceptable. Stay healthy and take care!
NASDAQ:IXIC
by drewby4321
2
Daily Market Update for 12/29Trend lines drawn from the 10/30 bottom (41d), 12/22 (5d) and today 12/29 (1d).   Ideas always welcome in the comments. Errors will be amended as comments on TradingView or and corrected inline in my blog. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Tuesday, December 29, 2020 It's coming down on me Water like misery Facts: -0.38%, Volume lower, Closing range: 19%, Body: 76% Good: New all-time high, held support above 12,800 Bad: Long red body, selling from open to close Highs/Lows: Higher high, lower low Candle: Long red body, short upper and lower wick Advance/Decline: 0.41, more than two declining for every advancing stock Sectors: Health (XLV +0.47%) and Consumer Discretionary (XLY +0.03%) are top. Real Estate (XLRE -0.77%) was bottom. Expectation: Lower -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Market Overview The Nasdaq started the day by setting a new all-time high but quickly reversed downward and sold off the rest of the day. Still, it held above the 12,800 area which seems to be new support. The index closed with a -0.38% loss on lower volume. The closing range of 19% and 76% red body show the high open and intraday move to close near the low. Over two stocks declined for every advancing stock on the Nasdaq. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Indexes and Sectors The S&P 500 (SPX -0.22%) and Dow Jones Industrial (DJI -0.22%) also declined while the Russell 2000 (RUT -1.85%) had the biggest decline among the major indexes. There is lots of speculation on the declines with a popular opinion that investors are taking profits in the 2020 tax year vs waiting for the new tax code under Biden's administration, which is expected to be higher. Health (XLV +0.47%) and Consumer Discretionary (XLY +0.03%) were the only sectors that had gains for the day. All other sectors lost with Real Estate (XLRE -0.77%) and Energy (XLE -0.77%) ending the day with the worst performance. The VIX volatility index rose +6.36%. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Market Indicators   Yields rose on US 30y, 10y and 2y treasury bonds. The spread between long term and short term bonds widened slightly. Corporate bond prices fell slightly, widening the yield spread with short term bonds.     The US dollar (DXY -0.38%) dropped for the day. Silver (SILVER -0.02%) stayed about even while Gold (GOLD +0.26%) advanced for the day. Crude Oil futures (CRUDEOIL1! -0.37%) declined. Timber (WOOD 0.09%) declined slightly. Copper (COPPER1! -0.60%) and Aluminum (ALI1! -1.01%) both declined.   The put/call ratio rose to 0.629. The put/call ratio (PCCE) is a contrarian indicator that shows overly bullish or overly bearish investor behavior. The 0.7 level is considered normal. As it approaches 0.60 (overly bullish) and below, watch for a possible pullback in the market. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Market Leaders   Only Amazon (AMZN +1.16%) advanced of the four biggest mega-caps. Apple (AAPL -1.33%), Microsoft (MSFT -0.36%) and Alphabet (-0.91%) all declined for the day. It's worth noting that each of these mega-caps put in a higher high and a higher low for the day, continuing uptrends. Alphabet retested its 21d EMA, but closed above the key support line. Overall, it wasn't a bad day for mega-caps. There were big gains like Alibaba (BABA +6.25%), Intel (INTC +4.93%) and Netflix (NFLX +2.26%). Losses included Salesforce.com (CRM -0.97%), Home Depot (HD -1.14%) and PayPal (PYPL -1.99%). Growth stocks had another day of selling as a rotation continues from smaller-cap to larger-cap segments. Sumo Logic (SUMO -5.37%), Digital Turbine (APPS -4.98%) and Square (SQ -4.18%) were among the bigger losses. On positive side, SNAP (SNAP +6.15%) rose on a price target increase from Goldman Sachs. Chinese stocks JD.com (JD +5.55%) and NIO (NIO +4.72%) joined Alibaba in good gains for the day. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Looking ahead Several releases of economic data will come tomorrow. Goods Trade Balance and Retail Inventories for November will be released ahead of market. Pending Homes Sales for November and Crude Oil Inventories will be released after market open. No notable earnings announcements are scheduled for Wednesday. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Trends, Support and Resistance The long-term trend line from the 10/30 bottom points to a +1.13% gain. The five-day trend is just below that line at a +0.64% gain. If the market follows the one-day trend it would mean a -0.58% loss. It seems the market is actually holding up well, despite how it may feel for growth investors. If the index moves down, there seems to be a support level from 12,450 to 12,550 (has not been tested much) where the index can pause during a pullback. The previous support level is around 12,250. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Wrap-up It was a second day of selling off stocks that have done exceptionally well in 2020. It could be investors taking profits to be taxed in this year vs waiting for the Biden administration to change the tax code in 2021. It does not seem to be any nervousness of investors, since all indications are that money is staying in equities, but moving between cap segments and industry sectors. Stay healthy and take care!
NASDAQ:IXIC
by drewby4321
Amazon (AMZN), DJI, IXIC, SPX, XAUUSD, USOIL - December 30Hello? Dear traders, nice to meet you. "Like" is a huge force for me. By "following" you can always get new information quickly. Thank you for always supporting me. -------------------------------------------------- ----- We need to see if we can rise above the downtrend line (3) and get support at 3344.29. If it deviates from the downtrend line (3), a move to renew the New High is expected. If it falls at 3176.40, you need a Stop Loss to preserve your profit or loss. ----------------------------------- (DJI 1D chart) It started with the gap (30404.0-30492.1) rising and closed at -0.22%. We have to see if we can keep it above the 30199.9 point. ---------------------------------- (IXIC 1D chart) It started with the gap (12899.4-12965.4) rising and closed at -0.38%. We need to see if it can rise along the uptrend line (2). ------------------------------------- (SPX 1D chart) It started with the gap (3735.4-3750.0) rising and closed at -0.22%. We have to see if we can climb along the ascent channel. -------------------------------------- (XAUUSD 1D chart) We need to see if we can break above the downtrend line (5)-(6). You also need to see if you can climb above the 1899.330 point. You should watch for movements that deviate from the uptrend line (4)-downtrend line (6). ------------------------------------------- (USOIL 1D chart) You should watch for any movement that deviates from the 42.76-49.17 segment. -------------------------------------------------- ------------------------------------------- ** All indicators are lagging indicators. So, it's important to be aware that the indicator moves accordingly with the movement of price and volume. Just for convenience, we are talking upside down for interpretation of the indicators. ** The wRSI_SR indicator is an indicator created by adding settings and options from the existing Stochastic RSI indicator. Hence, the interpretation is the same as the conventional Stochastic RSI indicator. (K, D line -> R, S line) ** Check support, resistance, and abbreviation points. ** Support or resistance is based on the closing price of the 1D chart. ** All explanations are for reference only and do not guarantee profit or loss on investment. Explanation of abbreviations displayed on the chart R: A point or section of resistance that requires a response to preserve profits S-L: Stop Loss point or section S: A point or segment that can be bought for profit generation as a support point or segment (Short-term Stop Loss can be said to be a point where profits or losses can be preserved or additionally entered through installment transactions. It is a short-term investment perspective. GAP refers to the difference in prices that occurred when the stock market, CME, and BAKKT exchanges were closed because they do not trade 24 hours a day. G1: Closed price G2: Market price at the time of opening (Example) Gap (G1-G2)
NASDAQ:AMZN
by readCrypto
1
Amazon (AMZN), DJI, IXIC, SPX, XAUUSD, USOIL - December 29Hello? Dear traders, nice to meet you. "Like" is a huge force for me. By "following" you can always get new information quickly. Thank you for always supporting me. -------------------------------------------------- ----- It remains to be seen if it can break above the downtrend line (2)-(3). We also have to see if we can get support at point 3294.62. If you fail to break the downtrend line (2)-(3), you can touch the 3008.91 point, so you need to trade carefully. The next volatility period is around January 12th (January 11-13). ---------------------------------- (DJI 1D chart) It started with the gap (30199.9-30283.2) rising and closed at 0.68%. We have to see if it can be maintained above the 30199.9 point. ---------------------------------- (IXIC 1D chart) It started with the gap (12804.7-12914.6) rising and closed at 0.74%. We need to see if it can rise along the uptrend line (2). ---------------------------------- (SPX 1D chart) It started with the gap (3703.1-3723.0) rising and closed at 0.87%. We have to see if we can climb along the ascent channel. ---------------------------------- (XAUUSD 1D chart) We need to see if we can get support at 1871.828 and break above the downtrend line (6)-(5). You also need to climb above the 1899.330 point to see if it is supported. You should watch for any movement that deviates from the uptrend line (4)-downtrend line (5). ------------------------------------- (USOIL 1D chart) We need to see if it can rise along the uptrend line (3). You should watch for any movement that deviates from the 42.76-49.17 segment. -------------------------------------------------- ------------------------------------------- ** All indicators are lagging indicators. So, it's important to be aware that the indicator moves accordingly with the movement of price and volume. Just for convenience, we are talking upside down for interpretation of the indicators. ** The wRSI_SR indicator is an indicator created by adding settings and options from the existing Stochastic RSI indicator. Hence, the interpretation is the same as the conventional Stochastic RSI indicator. (K, D line -> R, S line) ** Check support, resistance, and abbreviation points. ** Support or resistance is based on the closing price of the 1D chart. ** All explanations are for reference only and do not guarantee profit or loss on investment. Explanation of abbreviations displayed on the chart R: A point or section of resistance that requires a response to preserve profits S-L: Stop Loss point or section S: A point or segment that can be bought for profit generation as a support point or segment (Short-term Stop Loss can be said to be a point where profits or losses can be preserved or additionally entered through installment transactions. It is a short-term investment perspective. GAP refers to the difference in prices that occurred when the stock market, CME, and BAKKT exchanges were closed because they do not trade 24 hours a day. G1: Closed price G2: Market price at the time of opening (Example) Gap (G1-G2)
NASDAQ:AMZN
by readCrypto