Simple stock trading blog

Gold – bearish scenario developing ?

richk — Wed, 15 Jul 2009 15:25:01 +0000

Gold situation developed a bit from my last chart analysis.

Gold chart is now less bullish. The important trendline is broken and situation is now more neutral. It will be important to watch if resistance area 940 – 960 will hold. Decline from this area could lead to drop to 840 – 860 USD level.

But break of 960 level will set bullish scenario again.

Gold can be traded by Commodity ETF stocks

Waiting for pullback in Energy sector

richk — Fri, 10 Jul 2009 13:05:30 +0000

I have closed my energy sector shorts and now I am waiting for good pullback to open them again.

Gold – Bullish or bearish scenario

richk — Mon, 29 Jun 2009 15:32:53 +0000

I have watched gold chart and found interesting that on long term chart one can find both types of trading idea:

a) bullish: represented by inverse head and shoulders pattern

b) bearish: represented by double (tripple) top chart pattern

What will prevail? Right now it is looking technically more bullish but based on my global macro themes I am not very bullish on gold fundamentally long term.

Declining volume => be cautious

richk — Fri, 19 Jun 2009 11:38:32 +0000

Yo can see declining volume since beginning of May on US stock markets. There are not real buyers on US stock markets since then.

I think that all move from beginning of May (near 930 high) is in risk. If we will not see some upmove with strong volume, then stock market can easily drop below 900 level – 800 to 820 as target.

EURUSD Double top stock chart pattern forming ?

richk — Mon, 15 Jun 2009 12:22:07 +0000

I have noticed possible double top on EURUSD chart. It can be traded by currency ETF as short near resistance. This trade can offer very good risk reward .

SP500 (SPX) is trading in very tight range

richk — Thu, 11 Jun 2009 09:21:19 +0000

Broad market index SP500 is trading in very tight range in last few days. And also volume totally collapsed.

SPX is pushed down by resistance level near 940 – 950 level . But there is also uptrend line supporting price in rise. Also 200SMA and 20MA are near current price level. I expect that we will see stronger move soon, up or down. Till breakout or breakdown I do not want to make a lot of aggressive trades.

My swing trading strategy has now prepared stock trade setup for relative strong or relative weak stocks only.

10Y Bond yield in resistance area

richk — Fri, 05 Jun 2009 20:26:18 +0000

10Year Bond yield is now in resistance area between 3.90 – 4.20. It can rest there. But final resistance can be seen near 4.80 where is upper line of longterm downtrend channel.

Bonds can be traded by Bond ETF or Short ETF for Bonds

Homebuilders show weakness on chart

richk — Fri, 29 May 2009 20:32:05 +0000

I noticed that chart of Homebuilders index shows weakness. So I will look for short-sell trade opportunity for my ETF trading strategy and also stock trading strategy in this sector.

Homebuilders relative weakness on chart

Dow Jones Real Estate index bearish development on the chart

richk — Sat, 23 May 2009 08:13:01 +0000

I noticed during scanning for opportunities for my ETF Trading strategy that Dow Jones US Retail Estate Index signalize possible troubles ahead. It shows relative weakness on the chart and so I am preparing to enter short trades in breakdown of support level near 300 pts.

Breakdown in GILD ?

richk — Sun, 17 May 2009 21:31:13 +0000

GILD stock chart presents bearish situation. It looks like this stock is going to make breakdown and new strong down move. It could offer very good risk reward for stock trade setup