Enlarge any chart by clicking on it.

Unless otherwise specified, ALWAYS use the 15min chart to enter my recommended plays because
CONFIRMATION is a MUST.
In other words, you need to see a 15min candlestick that CLOSES beyond
the entry point, then enter when it moves 10cents after the high/low of that candlestick.

Friday, August 15, 2014

JCP, JPM SLB, TSLA, SPX WEEKEND REVIEW

Note that there is geopolitical risk out there with tension remaining high between Russia and Ukraine, Israel and Hamas etc. The market can decide to react or ignore them.
Two weeks ago, it decided to react to Russia-Ukraine resulting in a big drop for the week. On Friday it did the same. I don't trade geopolitical events but technicals. At the moment my technicals favor more upside for the market. That is my only focus. It is frustrating when external factors affect my trading, but it is how this game is played. They are unavoidable. I can't predict how the market will react to a news/event, so I will just stick with what I can control i.e my technical analysis. Let news and fundamentals take care of themselves.

JCP-DAILY


JCP-15MIN


JPM-15MIN


SLB-15MIN


TSLA-15MIN


SPX-MONTHLY II


SPX-MONTHLY I


SPX-WEEKLY


SPX-DAILY IV


SPX-DAILY III


SPX-DAILY II


SPX-DAILY I


SPX-30MIN


SPY-15MIN