Master Charts Trading - Stock Market Indicators & Trade Alerts
Connect To Us!
  • MasterChartsTrading
  • Blog
  • Sign-Up
  • Members
    • Elite Trading Blog
    • Stock Speculator Blog
    • Training Library >
      • Basics of Trading
      • Risk & Trading Psych
      • Trend Identification
  • Help
    • Hall of Fame
    • Social
    • About Us
    • Contact
    • FAQs
    • Disclaimer
    • Refund Policy
    • Privacy Policy
    • What We Trade
    • Newsletter samples

Friday, November 14, 2014. Weekly Market Recap

11/16/2014

0 Comments

 
Friday, November 14, 2014. Weekly Market Recap.

From our entry point on October 21st, we are up a little over 7% in S&P 500. The S&P 500 has been busy eking out new (marginal) all-time highs and this upswing may have overstayed its welcome. S&P 500 is extremely overbought on all indicators that I monitor: MACD, Commodity Channel Index, and the market breadth indicators such as ITBM (Intermediate Term Breadth Momentum Oscillator).

I covered ITBM in my previous video from November 10, when it first recorded a very rare reading of over 200. Looking back, I was only able to find 2 other instances of this high of a level. Both times a market decline followed.

Picture
The Russell 2000 index ran into resistance in the 1180 area – corresponding to a prior peak from September 2nd. Should it roll over here, this may be a good place to go short (once indicators flip into bear mode).

Picture
We did open small positions in TLT and AGG last Friday based on several factors. The jury is still out on whether it was a premature decision, as bonds are stuck in a tight trading range. For TLT, a close above 120 or below 118 should provide immediate bias. My money is on the breakout to the upside, at which point I will add to my position. Should I be wrong, I will cut my losses quickly.

Picture
GDX began a trade-able counter trend bounce on Friday. We opened an appropriately-sized position for this trade, keeping in mind that this is a

1.     counter-trend bounce

2.     GDX is a very volatile security

Picture
So far, all nine SPDR sector ETFs & real estate have not generated sell signals, but some are already showing either profit taking or signs of exhaustion.

XLF came under some selling pressure/profit taking, while the rebound in XLE was rather weak to begin with - no doubt because of an unending slide in oil prices.

Picture
Finally XLU may be nearing its upswing’s end as it sold-off as much as 3.5% from its peak on November 5.

Picture
In one of my upcoming videos, I will be going over risk controls that will help you determine how to properly size your positions.

That’s it for this week. Thank you for reading and listening and have another great trading week!

Best Regards,

Alexander Berger (www.MasterChartsTrading.com)

Ready to trade? Sign-up Today
0 Comments



Leave a Reply.

    Picture
    Picture

    Subscribe to our mailing list!

    * indicates required
    /* real people should not fill this in and expect good things - do not remove this or risk form bot signups */

    Intuit Mailchimp

    Click to set custom HTML
    Picture
    Picture

    Archives

    January 2025
    December 2024
    November 2024
    October 2024
    September 2024
    August 2024
    July 2024
    June 2024
    May 2024
    April 2024
    March 2024
    February 2024
    January 2024
    December 2023
    November 2023
    October 2023
    September 2023
    August 2023
    July 2023
    June 2023
    May 2023
    April 2023
    March 2023
    February 2023
    January 2023
    December 2022
    November 2022
    October 2022
    September 2022
    August 2022
    July 2022
    June 2022
    May 2022
    April 2022
    March 2022
    February 2022
    January 2022
    December 2021
    November 2021
    October 2021
    September 2021
    August 2021
    July 2021
    June 2021
    May 2021
    April 2021
    March 2021
    February 2021
    January 2021
    December 2020
    November 2020
    October 2020
    September 2020
    August 2020
    July 2020
    June 2020
    May 2020
    April 2020
    March 2020
    February 2020
    January 2020
    December 2019
    November 2019
    October 2019
    September 2019
    August 2019
    July 2019
    June 2019
    May 2019
    April 2019
    March 2019
    February 2019
    January 2019
    December 2018
    November 2018
    October 2018
    September 2018
    August 2018
    July 2018
    June 2018
    May 2018
    April 2018
    March 2018
    February 2018
    January 2018
    December 2017
    November 2017
    October 2017
    September 2017
    August 2017
    July 2017
    June 2017
    May 2017
    April 2017
    March 2017
    February 2017
    January 2017
    December 2016
    November 2016
    October 2016
    September 2016
    August 2016
    July 2016
    June 2016
    May 2016
    April 2016
    March 2016
    February 2016
    January 2016
    December 2015
    November 2015
    October 2015
    September 2015
    August 2015
    July 2015
    June 2015
    May 2015
    April 2015
    March 2015
    February 2015
    January 2015
    December 2014
    November 2014
    October 2014
    September 2014
    August 2014
    June 2014
    May 2014
    April 2014
    March 2014
    February 2014
    January 2014

    RSS Feed

  All information on MasterChartsTrading.com is for educational and entertainment purposes only, and should not be construed as a recommendation to buy, sell or sell-short said securities. Read full disclaimer.