Market

Big Market Move Coming - Watch IYT ETF and FedEx

Submitted by Maher on Sun, 05/13/2012 - 21:46

Very interesting couple of charts. The Transportation ETF IYT and one of its components FedEx FDX are setting up for a very nice trade.  FedEx daily chart is forming a descending triangle that is more bearish than bullish.

The transportation ETF IYT is forming a symmetrical triangle. So, wait for the breakout on either direction before taking the trade.

 

IYT Daily Chart

IYT daily Chart

 

FedEx Daily Chart

FedEx Daily Chart

Russell 2000 Not Looking Too Hot (IWM)

Submitted by Maher on Fri, 05/04/2012 - 22:09

IWM appears to have just completed the right shoulder of a head and shoulder topping pattern. Support is around $78, this breaks down and the market is in lots of trouble.

IWM Daily Chart

IWM Daily Chart

The Final Countdown for the Market

Submitted by Maher on Sun, 02/20/2011 - 19:51

A market correction is around the corner, I can feel the wind of change. If you are still longed up, then for God sake take some profits next week.

Its the market FINAL COUNTDOWN!

SPY Rising Wedge Reversal?

Submitted by Maher on Tue, 02/08/2011 - 22:14

I'm just saying, so be careful out there. Seriously, if you are overly loaded to the long side, are you waiting for a better time to take some profit of the table?

SPY Daily Chart

 

SPY daily

Who Said a Stock Can't Fly Like a Rocket?!

Submitted by Maher on Mon, 11/08/2010 - 19:05

The chart below is worth a thousand word. The stock was on my watch list before it took off but never got the chance to get on board. If you think stocks can't act like rockets, then think again!

 

NG Daily

Is General Electric Trying to Tell us Something?

Submitted by Maher on Tue, 11/02/2010 - 20:15

I've noticed an interesting divergence between GE and S&P in the last few weeks. AS you see on the chart below, GE normally follows the general market but has not being doing so as of late. Is GE telling us the market is not as strong as it appears to be?

 

GE Compared with SPX

Sitting on Hands Waiting for Fireworks

Submitted by Maher on Mon, 11/01/2010 - 16:51

I don’t do market predictions and could care less about the market direction.  A good trader should be able to skate forward and backward.  Today, however, I’m going to make a predication.  I can guarantee you we are going to see some FIREWORKS in the coming few days.

The election coming up tomorrow, the Federal Reserve meeting and the monthly jobs number are both coming up fast.  I think a Republican win of the house is already priced into the market but a Republican win in the Senate could push the market higher.  I don’t like gambling, so I’m sitting this one out and will be watching from the sidelines.

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