SPY is nearing converging support levels and oversold stochastic levels. A low risk opportunity may present itself near the 50 day moving average.Take note that the volume pattern is showing distribution.
Key SPY Support Level
X: Low Risk Setup
X provides a low risk setup as it pulls back to the 50 day moving average. If the market tanks, X will go down with it, but losses are easily managed at this level.
5 Profitable Energy Charts
Here are 5 interesting energy stocks. I've included longer term charts. Each has a slightly different pattern and can be played in multiple ways. RIG (Transocean, Inc.) is looking good right now. We've got a support converging at both the breakout point and the 50 day moving average. My only concern is there doesn't look... Continue Reading →
Primary Watchlist for Wednesday
Here are six of my favorite long candidates: VRGY, HEI, JCG, CYNO, OII, MT. All are trending stocks with nice pullbacks. While these are short term trade opportunities, MT and OII (two of my favorites in their respective sectors-steel and gas equipment) will be buys for my longer term position trading account if they pullback... Continue Reading →
Paul J Singh 