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A place for friends to gather and view stock market charts, discuss technical analysis and market outlook. What is your Principal Asset? How can it be developed? Each and all should do their own due dilligence and homework before investing. And by no means should you use anything I say or show here as a sole basis to buy or sell securities as everything is for educational experience only.

Thursday, January 30, 2014

GLD - 20 day 30 minute bar with Weekly Pivots

GLD chart

Well GLD and Gold had an interesting day gapping down due to some major banks selling derivatives to China.  But here again this is where Pivot levels play such a part in trading.  Take a look at the chart above as it speaks for itself on the affinity of the Weekly Pivot S2 level which held as support for today.

Tuesday, January 28, 2014

SPY - 1yr Daily

Look for a bounce off lower channel as well as the bottom formation of the Head and Shoulders pattern forming since November at $176.36.

Created with ProphetCharts®

Monday, January 27, 2014

SPY - 5 Day 15 minute Bar Pivots

This is a great example of the usefulness of  Pivot levels for entering Limit orders and trading regardless of your time constraints.  I typically use a $0.05 buffer within the Pivot level.  For example if the Pivot is $107.07 I set a Limit order to Buy at $107.12.  And if i'm selling I use $0.05 less than the upward Pivot level to sell a Long position into strength.

SPY - 5 DAY 15 minute Bar

MO - 5yr Weekly

Throw in a Fibonacci and we can see the affinity for the current levels and next upward target of $42.

The Flexible grid with Pivots shows short term major support at the $37 level.

MO - Flexible grid with Pivots

MO - Yahoo Key stats

MO - 20yr Weekly

MO is still chugging like the little engine that could staying above a mid- channel mark. Strong and early support at 50 week EMA of $35 and 200 Week EMA of $28.25 could be excellent areas to place Limit orders to get some MORE.

Created with ProphetCharts®