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, February 24, 2017

AAPL, GS, IWM, NFLX, QQQ, SPX WEEKEND REVIEW

Bearish patterns abound. They are all over the place. Fast move lower about to take place so don't get caught on the wrong side. The rise taking place at the moment is a trap that will catch complacent bulls, perma-bears turned perma-bulls (now that Obama is gone) and weak bears as they give up. The bull trade has gotten overcrowded.
Just like the market bottomed the first week of March 2009 after Obama took office, the coming week will be the first week of March since Trump took office. So expect the market to top out this coming week if it hasn't already done so on Friday.
Also, the euphoria about the market has reached fever-pitch levels as everyone now thinks buying stocks is the best investment in town. Fundamentals are also looking very good. This is exactly what market tops look like. A time when it appears nothing can go wrong. As a result, complacency becomes very high before everything falls apart in short order. We are at that point, so don't be fooled by the rise now taking place. It will all be erased shortly with one down candlestick erasing many up candlesticks.

AAPL-DAILY


GS-WEEKLY


IWM-WEEKLY


NFLX-WEEKLY


QQQ-DAILY


SPX-MONTHLY


SPX-WEEKLY


SPX-DAILY III


SPX-DAILY II


SPX-DAILY I


SPX-120MIN


SPX-60MIN


SPY-15MIN
Posted by at