chrisbrecher

chrisbrecher

As seen in BA, an overbought RSI can stay overbought. For swing shorting, I like to wait until the stock crosses under the daily ATR trailing stop, even if it means missing the beginning of the move.

chrisbrecher

As seen, the DJT stayed overbought for a long time, in a "stepping stone" kind of move. On the other hand, if FDX knocks this down enough today, it could be a good sell-signal for other indexes.

chrisbrecher

With most equity markets soaring, there are only a few stocks I watch that have one hour bear flags. Here are 2 of them.

chrisbrecher

Yesterday, the SPX achieved the measuring objective from the inverse H&S break out. Usually, I measure it from the amount of the move prior to the break out.

chrisbrecher

The /ES forming a "three marching lemmings" MACD warning sign. This is when the product makes at least 3 successive highs, but the MACD makes 3 successive lows. This could indicate a near term change in direction, if a break of a defined trendline occurs.

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A "Stewie Pattern" is an inverse head and shoulders pattern. When I highlight it, it sort of looks like Stewie, from Family Guy. In this case, the /ZB is trying to bottom out, but the MACD needs to work off the overbought condition. If the MACD can get back to at least the zero line, and the /ZB retains this bullish structure, then I would look to get long.

chrisbrecher

A "Brecher Ledge" is a bear flag, with the bottom trendline horizontal.

chrisbrecher

With U.S. markets starting to break down, I am watching for a possible breakdown in the /NKD as well.

chrisbrecher

There are many chart settings that traders use. These have worked for me for 40 years.

chrisbrecher

Many funds might push the "sell" button, if the /ES breaks the 50 SMA decisively.

chrisbrecher

When I look for bearish patterns,I like to look at multiple timeframes.bCAR looks like a perfect bear flag, but the longer term uptrend makes me cautious about playing it.

chrisbrecher

Many biotechs are trying to "turn the corner". Over 55 and NTLA could much higher. I am going to look at bullish call spread ideas this week.

chrisbrecher

Stocks like NOW have already filled the double gap. Most are now overbought on daily MACD's. IF markets start to sell off, MDB could fill the gaps on the downside.

chrisbrecher

Markets could still fill the second gap around 4000, That would coincide with the 50EMA. Many stocks have already filled "the double gaps".

chrisbrecher

The circle is the 50 percent retracement, the 200 weekly SMA , and the price support.

chrisbrecher

Usually a slowing in the economy hurts the growth oriented RTY the most. Instead, it is outperforming.

chrisbrecher

The /NQ needs to hold the breakout point from yesterday, or it could go much lower.

chrisbrecher

Equity traders will be focusing on 2 big things today. The action of Bitcoin, and the yield on the 10 year note. The 10 year is already spooking some, as the yield approaches 3 percent again. Bitcoin has to hold right here, or it could test the lows.