jamespwu

jamespwu

GLD retested wedge breakout and now needs to make new high to confirm BULL Trend. I have read articles stating that the commercial traders are net short gold and its retail traders driving up gold prices using GLD. But I am not sure if thats the case today or is it just dollar reversing?

jamespwu

Spy could not reach new highs now fail looking for equal movement on the downside to about low 197s

jamespwu

I sent out a chart on the SPYS last Friday stating potential reversal on the SPYS. I think its still in play

jamespwu

GLD is in a interesting scenario here. The daily RSI has reached 85, extremely levels that happened prior to the current price high on Friday. Although, we have a break of the downtrend, the potential setup of lower RSI and a reversal candlestick candle stick on the daily chart presents conflicting information. I am out of my GLD long and will proceed with...

jamespwu

Here is what I am seeing on the spys. We could get a reversal this morning after a overshoot on the upside with the SPYS and coming into the range. Will cover around 197.5

jamespwu

Amzn could have another bigger move if it breaks out of the wedge pattern

jamespwu

Hi Everyone, I just want to point out that the SPY has bounced back 50% using Fib retracement. Now its trading in sort of a rising wedge pattern.

jamespwu

Currently, GLD is still at the top of the down channel. It has not moved much in the past week or so. Its still consolidating near the top of the channel. Looking for a bigger move off the consolidating. Hopefully, it will be on the upside to fulfill the size of the channel.

jamespwu

SHORT TERM, A LITTLE EXTENDED ON THE DOWNSIDE, SEE WHAT HAPPENS FOR A BIGGER MOVE OF THE CHANNEL BREAK.

jamespwu

Amzn broke channel see what happens at re-test.

jamespwu

FB will be at the bottom of the channel premarket. Below 103 to 103.5 could be dangerous. But as of now, we are still playing the channel trading game.

jamespwu

I would to apologize for mentioning the short on AMZN, the channel break short at 528 before. The market did not sell off and AMZN'S short term sell signal at 528 is negated. I hope no one got hurt. I lost a few. Sorry

jamespwu

Personally, I believe we should should cover the spy gap around 189.75 shortly. But market is making it very difficult. From the recent bottom the top of the bounce, we have just pulled in 20% with today's intra-day low. Technically, we already had a measured move on the spy channel breakout, you would think a pull-in should occur, especially the market loves...

jamespwu

AMZN, potential fade against 528 area

jamespwu

Wynn had a fast move after earnings. Its now coming its first bigger resistance on the daily chart. The daily RSI is already at 70. I am looking for a quick fade, but if the stock breaks above this level. It will have more room to run.

jamespwu

GLD busted out today again, back above the long term channel. It did not bother to fill the gap first. Its still a little extended here, but if money comes in it will go up fast. The measured move on the upside will be the size of the channel (about 16 points) to about 130 132. If you go long, I would put a stop loss no lower than 114.

jamespwu

Amzn has similar bear flag pattern, pls see FB chart. Measured move is the height of the flag for now.

jamespwu

FB broke a bear flag pattern, measured move is slightly below 98