Posts Tagged ‘CYNK’

Meaningless Monday – Waiting for Yellen to Testify Tomorrow

We're got our strong bounces on Friday – now we'll see if they hold up! .  

As you can see from our big chart, we still have Spitting Cobra patterns forming on all but the Russell, which has turned into a Vomiting Cobra, spilling all the way down to the 50 dma at 1,150.  We're still below the Weak Bounce Line on the NYSE – so we'll watch that closely and the Russell needs to get over their Strong Bounce at 1,170 to confirm:  

  • Dow 17,050 to 16,800 is 250 in 3 days so you need to make a strong bounce in 1.5 days in order to have a chance at a V recovery.  Bounces would be 50 points so 16,850 and 16,900 are what we'll watch.  
  • S&P 1,985 to 1,955 is 30 points so 6-point bounces to 1,961 and 1,967 will be our targets. 
  • Nasdaq 4,485 to 4,360 (now I'm rounding) is 125 so 25-point bounces to 4,385 and 4,410.
  • NYSE 11,100 to 10,900 is 200 points so 40-point bounces to 10,940 and 10,980.
  • Russell 1,208 to 1,140 is 68 points and we'll call that 14-point bounces for 1,155 (rounding) and 1,170

SPX WEEKLYAlso key, of course, is the 3 of 5 red signals on our Must Hold line on our Big Chart™ - only the NYSE is likely to make it over today, with a 64-point move (0.5%) taking it back to 11,000 – certainly that's not asking too much before we flip to some more bullish betting, is it?  

We still have 29 stocks on our Buy List (Members Only) and, since they dynamically update, it's very easy to see that about 1/2 of them haven't gotten away yet and are still playable for dip buying.  We also have 29 more stocks from our old Long-Term Portfolio, which we liquidated on May 29th – and that is full of great trade ideas as well.  

We just did Week 4 for our our May Trade Review over the weekend and we slipped to 73% that week (ending 5/23) which brought us down to 84% for the month with 158 out of 197 trade ideas on the winning side.  Still, going from 125-17 to 158-29 was an early indicator that we were losing
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Phil's Favorites

How TikTok is upending workplace social media policies - and giving us rebel nurses and dancing cops

 

How TikTok is upending workplace social media policies – and giving us rebel nurses and dancing cops

Front-line workers frequently make short TikTok videos while on the job. Tzido/iStock via Getty Images

Courtesy of Elizabeth C. Tippett, University of Oregon

As the Thanksgiving holiday was winding down, a medical center in Salem, Oregon, found itself in the middle of a frothing social media mess. A nurse named ...



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Politics

As Pandemic Soars to Deadly New Heights, 'Conservative Ideology Itself' Blamed for Disastrous US Response

 

As Pandemic Soars to Deadly New Heights, 'Conservative Ideology Itself' Blamed for Disastrous US Response

"The conservative belief that government is more often the problem than the solution," argue two progressive analysts, "made it practically inevitable that Republicans would render their own government ineffective."

Courtesy of Jake Johnson, Common Dreams

A supporter of President Donald Trump insults counter-protesters during a rally in Washington, D.C., on November 14, 2020. (Photo: Olivier Douliery/AFP via Getty Images)

It is widely agreed that President Donald Trump'...



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Zero Hedge

Stocks Plunge After Pfizer Cuts Vaccine Rollout Target By Half Due To "Supply Chain Obstacles"

Courtesy of ZeroHedge

US stocks tumbled during the final hour of trading Thursday as Pfizer revealed that it expects to ship half the number of vaccines this year, raising new questions about the optimistic projections and expectations for the pace of vaccinations.

The company cited supply chain delays tied to the fact that the company has found raw materials in early production that did not meet its standards.

It still expects over 1bln doses rolled out in 2021

"Scaling up the raw material supply chain took longer than expected," a company spokeswoman said. "And it's important to highlight that the outcom...



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ValueWalk

McConnell Continues To Hold Up Covid Pandemic Relief

By Anna Peel. Originally published at ValueWalk.

As Another 712K Get Pink Slips, McConnell Insists On More Corporate Giveaways in Lieu of Real Covid Pandemic Relief

Q3 2020 hedge fund letters, conferences and more

McConnell Dismisses The Urgently Needed Covid Pandemic Relief

McConnell’s latest proposal offers far too little, too late for those most in need — not a penny for extra unemployment benefits, stimulus checks, or rental assistance, while doing nothing to ...



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Kimble Charting Solutions

Dow Industrials Test Super Breakout Price Level!

Courtesy of Chris Kimble

The Dow Jones Industrial Average has survived several market scares over the past 5 decades, including the 1987 crash (Black Monday), Tech Bubble, Financial Crisis, and Coronavirus crash.

In a very noisy, news-driven world, sometimes it pays to simply zoom out on the charts and stop thinking about trading every headline.

Today’s chart is a “quarterly” chart of the Dow Jones Industrial Average (spanning the past 50 years). It includes some relevant Fibonacci price levels for active investors to consider; we apply Fibonacci to the quarterly lows of 1974 and the lows of 2003 and 2009 (that being 100%).

Note that the Dow Industri...



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Chart School

Gold Chart Review

Courtesy of Read the Ticker

Gold swing trade is due, lets review some charts to see if it is a viable move.

The seasonal period of gold is now upon us, gold should advance for the next 3 months.


Gold Gann Angle Chart ...


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Gold Channel Chart .. close up!



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Gold Channel Chart


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Biotech/COVID-19

Rapid COVID-19 tests can be useful - but there are far too few to put a dent in the pandemic

 

Rapid COVID-19 tests can be useful – but there are far too few to put a dent in the pandemic

Rapid tests for COVID-19 are easy to administer and give fast results. AP Photo/Julio Cortez, File

Courtesy of Bonnie LaFleur, University of Arizona and Katherine Ellingson, University of Ari...



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Digital Currencies

Five Reasons Why Bitcoin is Going Up

 

Five Reasons Why Bitcoin is Going Up

Courtesy of 

Call it the “Respectability Rally”…

A few reasons for Bitcoin’s return to the record highs. It’s about $18,500 as of this writing, matching the previous highs from 2017’s original explosion.

Reason one: It’s going up because it’s going up. Don’t scoff, this is the reason most things in the markets happen and then the explanations are called for afterwards. I’m in financial television, I have literally watched this process occur in real-time. The more something moves in a given direction, the more peop...



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Mapping The Market

COVID-19 Forces More Than Half of Asset Management Firms to Accelerate Adoption of Digital Marketing Technology

By Jacob Wolinsky. Originally published at ValueWalk.

There is no doubt that the use of technology to support client engagement initiatives brings both opportunities and threats but this has been brought into sharp focus this year with the COVID-19 pandemic.

The crisis has brought to the fore the need for firms to enable flexibility in client engagement – the expectation that providers will communicate to clients on their terms, at their speed and frequency and on their preferred channels, is now a given. This is even more critical when clients are experiencing unparalleled anxiety from both market conditions and their own personal circumstances.

...

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The Technical Traders

Adaptive Fibonacci Price Modeling System Suggests Market Peak May Be Near

Courtesy of Technical Traders

Our Adaptive Fibonacci Price Modeling system is suggesting a moderate price peak may be already setting up in the NASDAQ while the Dow Jones, S&P500, and Transportation Index continue to rally beyond the projected Fibonacci Price Expansion Levels.  This indicates that capital may be shifting away from the already lofty Technology sector and into Basic Materials, Financials, Energy, Consumer Staples, Utilities, as well as other sectors.

This type of a structural market shift indicates a move away from speculation and towards Blue Chip returns. It suggests traders and investors are expecting the US consumer to come back strong (or at least hold up the market at...



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Lee's Free Thinking

Texas, Florida, Arizona, Georgia - The Branch COVIDIANS Are Still Burning Down the House

 

Texas, Florida, Arizona, Georgia – The Branch COVIDIANS Are Still Burning Down the House

Courtesy of Lee Adler, WallStreetExaminer 

The numbers of new cases in some of the hardest hit COVID19 states have started to plateau, or even decline, over the past few days. A few pundits have noted it and concluded that it was a hopeful sign. 

Is it real or is something else going on? Like a restriction in the numbers of tests, or simply the inability to test enough, or are some people simply giving up on getting tested? Because as we all know from our dear leader, the less testing, the less...



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Insider Scoop

Economic Data Scheduled For Friday

Courtesy of Benzinga

  • Data on nonfarm payrolls and unemployment rate for March will be released at 8:30 a.m. ET.
  • US Services Purchasing Managers' Index for March is scheduled for release at 9:45 a.m. ET.
  • The ISM's non-manufacturing index for March will be released at 10:00 a.m. ET.
  • The Baker Hughes North American rig count report for the latest week is scheduled for release at 1:00 p.m. ET.
...

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Promotions

Free, Live Webinar on Stocks, Options and Trading Strategies

TODAY's LIVE webinar on stocks, options and trading strategy is open to all!

Feb. 26, 1pm EST

Click HERE to join the PSW weekly webinar at 1 pm EST.

Phil will discuss positions, COVID-19, market volatility -- the selloff -- and more! 

This week, we also have a special presentation from Mike Anton of TradeExchange.com. It's a new service that we're excited to be a part of! 

Mike will show off the TradeExchange's new platform which you can try for free.  

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About Phil:

Philip R. Davis is a founder Phil's Stock World, a stock and options trading site that teaches the art of options trading to newcomers and devises advanced strategies for expert traders...

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