The Q’s look to be heading into some headwinds as it has hit an overbought condition. Since the oversold signal on 3/26 Q’s have rallied 3.5%. Now the Q’s have hit overbought/sell, as it hit resistance at 108.07-108.38. The last overbought signal was on February 18, the market rallied a little more before declining to the […]Read more
Below is a JPM Chart, with JPM heading into earnings on Tuesday highlighted on the key points on this chart. Once again JPM is hitting resistance at 61.34-61.69, which should break if the market bounces here or earnings are good. Above this JPM has little resistance expect its all-time high at 62.67. For support JPM […]Read more
SPY broke out of a nice ascending triangle pattern this week as it finally broke above 208.18 allowing for it climb right near the all time highs. This triangle break was formed by the slow uptrend of the March lows and the recent resistance at 208. This is a measured moved technical pattern which puts SPY […]Read more
In case you didn’t know, on April 1st our indicator flashed oversold for this sector, since then XLV is up over 2% and continues to rally. Today it hit its first resistance at 73.20 which is the downtrend line from the March. With todays action though XLV has built support 72.08 and moved and moved above […]Read more
Again SPY failed to follow through after in a decent up day, the day before. Again SPY failed at the 208.16-208.35 level, which has capped each of the last three attempts at this level. What makes this level critical is that a break of it sets up SPY to easily test its highs and […]Read more
Pikertrader LLC (“Pikertrader”) or its writers are not a registered investment advisor or broker dealer. None of the newsletters, website content, emails, or newsletters should be construed as a recommendation or solicitation to buy or sell any security or as investment advice. Pikertrader does not provide investment advice to individuals. All contents of the Service are provided for information and educational purposes only. Your investment and trading decisions are solely your responsibility and it is recommend that you consult with a financial advisor and conduct your own independent research before making any investment decisions. Past performance is not indicative of future results and there is a very real risk of loss in trading. You should not invest funds that you cannot afford to lose. A loss incurred in connection with trading can be significant. Pikertrader makes no claims whatsoever regarding past or future performance. All examples, charts, diagrams, lesions, blog post, are for educational, entertainment and information purposes and should not be consider recommendations to buy or sell a security.