Wish you all great trading day!
Here's some Cup and Handle "Ideas" that I like, just pure speculation of course, we need the market to cooperate of course, but the patterns seem to be there.
Pristine "Black Room" open house, November 14,15,16th,
Stan Weinstein on Financial Sense Newshour, financial-sense-newshour, his interview starts at about 17:30 into the report, his methods at about the 23 minute mark, for a look at how his various "Stages" look on a chart you can check out Weinstein Stage Analysis, for complete charts simply keep following the posts of "Isatrader" on the forum.
Here's the weekly performance of some of the Index's and sectors I keep track of, as you would expect the VIX was the beeeeeeeeg Wiener for the week, kind of a surprise that Utilities were the WORST performer for the week, as the TLT was the fourth best performer, meaning interest rates went DOWN, which is supposed to be GOOD, for Utilities, sigh, wad ever, such are "markets". Another puzzler is the Aussies, the EWA, was the best performing Country for the week, while China was the fourth WORST performer for the week, the FXI, I, THOUGHT, that the Aussie performance was tied to CHINA! ALSO, the DBC was the sixth best performer, while OIL was DOWN 2.3%, just weird stuff MAAAAAAAANNNN!
These are weekly charts of some of the best performers, the EWA looks close to a BREAK OUT, while both the DBC and SLV have had nice weekly pull backs and then put on a nice green bar, setting up your VERY clear R/R, as your stop would be under last weeks low, with your target at the recent highs.
The EWZ is far and away my absolute favorite, it obviously has HUGE support at $50, if it gets there, and if I had any balls, and with the Olympics coming up in four years, I would go ALL IN on that thing....................... ACCEPT, for one little, aaaaaaaahhhhhhhhh, item:
IF, it doesn't HOLD $50, WOOOOOO WEEEEEEEE, Sadie Bar the Fricking Door, as not only does an "EQUAL MOVE" scenario work out to the 09' lows in the $25-$30 "area", BUTT, under $50 and it gets into a HUGE AIR POCKET that provides NO support until that "area", very, VERWY dangerous stuff it is if it lose's that $50 level. What I'm saying is, I, PROBABLY, wouldn't be sticking around to long if it lose's it.
1) What about the stock market's strong gains from early 2009 through mid-year 2012?
2) Wasn't the person who has been re-elected now in the White House then?