Chart Trader – Reports & Videos

ChartTrader – SPY and QQQ Establish First Supports, XLK Forms Island Reversal, Support for CIBR, IGV, SMH, Setups for IBB, LHX (Premium)

We are in a bull market, but some indicators are still pointing to a corrective period and a correction may have started last week. First, fewer stocks made it back above their 50-day SMAs as SPY moved higher in the first half of February. Second, seasonal patterns turned negative last week (mid February). Thinking in tornado terms, a tornado

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ChartTrader – SPY and QQQ Lead, Breadth Continues to Deteriorates, Seasonality Looms, Symbol Setups: ALGN, IOT, LHX (Premium)

The weight of the evidence remains bullish, but the stars are aligning for a correction. SPY and QQQ are overbought. Breadth is deteriorating within the S&P 500. Small-caps and mid-caps are weak with MDY and IWM forging lower highs from December to February. Seasonally, February is one of the weakest months of the year.

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