TSLA - Chart Link

TSLA - Chart Link - weekly, man o man

MAIN - Chart Link - still holding up great despite going ex dividend, you will receive the div on June 4tth

XLU - Chart Link - I've been saying that it would like try sometime to take out that resistance. 

Starbucks keeps shorting it against you!

LOL Gartman

yep it just needed a couple more days, was a good pattern

ha ha

$SPX - Chart Link - being blamed on more China news, specifically Huawei and the US escalation of the ban

however as we pointed out yesterday, price had rallied back near resistance where one would have logically expected it to pull back from

XLU - Chart Link - if the market does pull back again XLU Utilities will probably break out

DBA - Chart Link - nice rally this week!  off the doji candle I discussed on weekend

DBA - Chart Link - weekly move

DBA - Chart Link - 60 min  you had a gap and go over that resistance trendline, basically was a breakaway gap

$SPX - Chart Link - as you can see once the 60 Stochastic fell below 80% on the 5 min time frame, that ended the trend day and price has fell ever since

also another educational point: Notice when the 60 Stochastic fell below 80% that it bounced back and found resistance on the underside of 80%? that was a good short, called a 60 Stochastic 80% rejection short basically

$SPX - Chart Link - 60 min view, SPX a 90 point move off the lows, logical pullback near resistance 

$SPX - Chart Link - for now the 15 min view though has more of a bull flag look. we'll see though

GDX - Chart Link - could be forming a bear flag

$SPX - Chart Link - that 60 Stoch fell below 80% on the 5 min

$SPX - Chart Link - 60 Stochastic momentum setup on that pullback provided a day trade long entry

and remember my post below the 120 and 60 min time frames, those indicators are testing their inflection points on the bear side where they will either confirm up now or head back down

yes and no. Yes price found a low right where the BPT BR Squeeze went below zero, and where the 60 Stochastic tested 50%, many times where those indicators tests ends up being a low vs confirming via the whipsaw method. However price can also have an initial reaction bounce for a few days like we've seen, then head down again. that happens many times in ABC type corrections.  At minimum is someone was long the stops would need to be around Monday's lows now.  Also the MA ribbon is still positive and was pinching there

Otherwise price is still below the now broken ATR trailing stop, so one could wait for more evidence that the downtrend was in fact completed, such as price getting back over the ATR etc. Again under an ABC sort of correction the market could still chop around here for a bit

for me there's some big resistance up here as I've shown on the 60 min charts below

also regarding the QE BTS sub system that I said will be closing out.  Actually in the system that trade closes out on the next day's open, which would be tomorrow morning on the open not today at the close.

that said, here's the stats of the system closing out tomorrow on the open and at the close today.  Honestly it's 6 one half dozen the other as sometimes one is better, than the other is better etc.  The next day open has a slightly higher PF of 30 vs 27.8 but not's not much different.  total profit 40.3K vs 40.1K meh.  89% on next day open vs 88.2 on close.  Again pick  your poison. If you have shares of ETF you can just split it and sell out 1/2 today at the close and the other 1/2 tomorrow on the open. If you more than 1 call option you can sell 1/2 today and 1/2 tomorrow. if you have only 1 call option for this trade then you have to pick. anyway figured I'd share

I haven't been. the pm stuff is trading inverse to the market at the moment, it bounced when the market sold off and has been weak the last few days while the market has rallied

on a 120 min SPX chart notice the 60 Stochastic is nearing 50, and the ATR is nearing 0%, those are inflection areas where price either confirms a higher uptrend move or reverses back down from that level.  On the 60 min time frame 60 Stochastic crossed 50% but you would need a confirmation candle to confirm

remember as I stated most of the time those indicators actually reverse from those ares vs confirming. We'll see, but the fact that 2900 is a big level, maybe it's a good area fro price to pull back from