SPY daily chart Watching support and resistance. The SPY looks like it is heading to the swing highs and could extend to the magical 400. March is normally very choppy taking out day trader’s stops. Watch for SPY to close gaps. On this chart you will notice that the 50 Moving average is being tested and acting as support. We also have higher lows. Where the tests of lows was acting like a bouncing support. There are some open gaps that we might see addressed later, but as we are on the threshold of one of the largest stimulus packages in history I would be careful shorting this market as it stands. As there is seller exhaustion there is buyer exhaustion too. Read more about seller exhaustion here.

The post SPY analysis of daily chart appeared first on Money Maker Edge Live Trading Room Stocks.

The chart is showing a repetitive pattern, noted in the boxes, for the top and a pullback on the daily chart for $SPY.  Price has broken the bullish trendline and is showing the sellers in control here.  In June we had a golden cross where the 50MA  crosses the 200MA.  Looks like price wants to challenge the 200MA again and maybe a move to previous swing lows.

We see a lower high with a potential for forming a head and shoulders. We are in an uptrend but we are testing the bullish trend line. If we break the trend line, watch for it to go to support and if this doesn’t hold, we could get a move to the previous swing lows.

We see a lower high and it looks like it may challenge the support. And if it is broken, look for it to close the gap on the lower support. Take note of the volume of sellers entering the marketplace.

Market recap August 23, not a trade suggestion.  Manage your own risk.  Never listen to others and if you don’t know what you are doing, consult your investment adviser.

This is what the charts are showing.

Check out our live day trading room.

The post Hourly Charts SPY and QQQ Market recap appeared first on Money Maker Edge Live Trading Room Stocks.

CYBR has bounced off of support, has a higher low and volume is consistent at this point.  Watch for a red to green move on the open.

After a big run up today and about a $10 range, watching for a slight pull back and keep this direction.  Higher low on this with a target around the 50MA.  Watch for a volume increase into the weekend.

ZM is bouncing off of support watching for this to gain support at the closing levels, wait for this to reverse for a clear entry.

Trade at your own risk, remember only you can be responsible for your trades.  Refer to the Money Makers Edge™ traders code if in doubt.

The post Live Trade Room Watch List August 22, 2019 appeared first on Money Maker Edge Live Trading Room Stocks.

Dollar index is at new highs. Normally when the dollar index is showing strength the gold market responds with weakness. Price action on the Dollar index could stay in a consolidated range from 97-100 until we see some interest rate reductions from the FED.

Gold has not moved inversely to the Dollar index. Watching the price action since June we see strength in both the Dollar index and the Gold futures. This is actually showing that there is an underlying chaos to the markets as dollar strength is used as a flight to safety and Gold is being bought as a “Chaos Indicator” showing the world political environment has volatility that is driving the price up.

The post Gold trading and Dollar index who will lead? appeared first on Money Maker Edge Live Trading Room Stocks.

The post Stock market at highs showing weakness, day trading tops. appeared first on Money Maker Edge Live Trading Room Stocks.

AMRN live day trading chart Watch as the daily chart has posted an bull flag on the run up from $17.00 if we can keep the consolidated pattern, then we could have a break over $21 to challenge the swing highs.

IWM weekly chart Watch as this Inverted Head and shoulders plays out. We could get the next leg up after some consolidation. Live day trading course.

The post Live trading April 2, 2019 live trade room appeared first on Money Maker Edge Live Trading Room Stocks.

$SNNA

This stock is consolidating,

Small stop  1×4 risk to reward

$OMED

Trend line is supporting the buying

50MA is a good target

volume is about to come back in

Price  is coiling for a break out

$RGSE

Consolidation

bouncing  on support

Under the 50MA and 200MA

$OGEN

Consolidation

volume is low

Swinging for previous highs

1×6 risk to reward

$AMD

large cap stock

broke above trend line

bumping up against resistance

volume is consistent

Flat top break out

$OBLN

on support

buyers have come in

watching for a reversal to the 50MA

next target could be the 200MA

 $TOPS

Broken out from the bottom

forming a right side shoulder

shows history of big moves

1×4 risk to reward

$XLI large cap stock

bullish flag

V Bounce with consistent volume on the move up

Left side support in

Above the 50MA and the 200MA

Could have a powerful breakout

   $EKSO

Bullish flag

broke above the 50MA

headed to the 200MA

Volume is slightly increasing

$GEVO

bull flag

volume relatively high compared volume before spike

Above 50MA acting as support

looking for a continuation move like the price spike.

     $INPX

bottoming pattern

could bounce

50 Moving average target

Volume is decreasing

Looks like could retrace part of the move down

$RWLK

broke over resistance

Good volume

Watch for carry through tomorrow

Might swing into next week

Day trading is high risk.  These are not trade suggestions, never follow anyone’s trades.  Do your own work and learn how to trade slowly.  You can loose all your money and more.   We offer courses and a live trading room.

you can see other day trading articles here.

The post Small Cap stocks and open position – Friday stocks appeared first on Money Maker Edge Live Trading Room Stocks.

AMD Watching a slight retrace tomorrow for an entry.

We are above the 50 MA and if that support holds we can revisit where the Swing high a few weeks ago closed the gap.

This is the first area of resistance short term is $21 then 23.50 and then to $25.

If we open below  19.85 adn the overall futures market is week, AMD could pull back to support at $19 then bounce or break support for a move t new lows.

The devils advocate on this trade would be for this to be a Head and shoulders continuation and this consolidated zone is setting up the next move down.

If Facebook pulls back to Fridays high we are going to watch for the red to green reversal for a break of today’s high.

We have a few conflicting patterns.  If this consolidated zone with a Head and Shoulders is a continuation pattern this might break under the 200MA and then head for more lows.

The bullish side of this trade is looking for a red to green move off the open with an open above 19.77.  This is the 50MA support, if it holds, then we could see a push into the right side consolidation zone.  Is this double bottom and the closing of the July gap enough to break the bearish trend line?  We shall see.

The Pennant is almost directly in the middle and might hold depending on the open tomorrow.

What is interesting here is that the death cross did not occur with this move down.

The post 2019 January 14 live trades Stocks appeared first on Money Maker Edge Live Trading Room Stocks.

S&P500 support and resistance

Watch price action on $SPY we put in a high volume low with sellers capitulating in the Bear Market Price Zone.  We called this level in our Live trading room to watch for a bounce.

Price broke under the correction level (Red Zone) of 10% from the top and proceeded to Bear Market Price zone in green which acted as support.

In price action trading prior support in a down trend becomes Resistance when price reverses.

The 10% price correction off the top is a consolidated zone that finally broke Mid-December with a volume push and sellers took control of direction.  This is where the support level at 2600 will now become resistance.

The 50MA  also will act as Resistance (like a ceiling) for the $SPY.  Keep this in mind for your strategy and manage your risk first.

This will be a key area as Algos could roll from a net short to an active buy zone.

The post S&P500 support and resistance – old support Essential Chart appeared first on Money Maker Edge Live Trading Room Stocks.

The post SPY double top coming to a death cross in Bearish pattern appeared first on Money Maker Edge Live Trading Room Stocks.