11/17/2017 Recap - members only

HERE is a video you do NOT want to miss. I review about 20 companies and their tickers. There are trades in there too. So I expect questions.

#Friday: Markets were flattish. Actually red on the SPX NDX and green for the small caps.

#The week: Though ended flat after a big Thursday bounce, the week was solid with regards to trends. I am a little worried about how the bonds, Yen and Gold ended strong. These 3 usually rally on weak equity markets. So next week could be bearish. Again this is me speculating as nothing is imminent. On a lite volume, bulls have usually the edge. chart

#Next week: Is a short week. Those often bring drama. Because on low volume it doesn't take much to move the markets.

#Wed Fed Minutes: Those are accounts of past events yet mkts still move on them. We are not expecting to learn anything new so they should not cause issues.

#Thur: ECB monetary meeting and those can be cause volatility here. I always expect Draghi to cause me grief one way or another.

#levels:

#SPX S&P: That is a serious rising wedge which leaves the bulls vulnerable IF IF IF we have a tizzie. You can see the small pink line pointing to the first potential target IF that happens. chart

#QQQ Nasdaq: Nothing special to note here other than it's HIGH and could fall a bit without changing the thesis. chart

#IWM small caps: Checkout where it decided to rally today. BTW they were very green on the rotation from mega caps into small caps. Now at teh doorstep of a battlezone. Monday they need to continue this strength. chart

#DIA the DOW: Same comment for the DOW. chart

#GLD: Broke out and the target not met yet. 124 better place to attempt to short. Was last pt of failure. chart

#AAPL: This is not a forecast. But there is a chance that it's forming a right shoulder of a bearish H&S pattern. if so then 167 could get tested soon thereafter the breach of the neckline.

#AMAT: more PROOF that the "short term reaction" to earnings has NOTHING to do with the actual goodness of the report. #AMAT delivered an unbelievable beat and raise.... stock -1%. glad you booked ur profits. chart

#ULTA: bounced where it needed to chart

#XOM vulnerable?: Norway fund may plan on dumping its oil stocks and XOM is one. Usually if we know about it then mostly is priced in. but we never really know the extent of the move.

#OTHERS:

#ABBV: Tight move coming direction unknown. Watch the brkout of either lines and follow it. chart

#ABX: Beaten down name. I could test a long position in it. BUT gold is in a breakout so make me wonder why is this gold stock not chasing it. So not rushing into it. But a cps below $12 could be okay depending on time frame. chart

#AMD: A high flyer of late that has fallen from grace. Now it is trying to rebound BUT is at a pivot level. I don't chase it long unless it can breakout through 11.7/12 area. chart

#AMGN: Catching the falling knife here could be dangerous. BUT biotech could be making a rebound. I am patient and not rushing into it yet. chart

#BABA: Incredible move this year. The company promised and delivered. HERE it is stuck at a pivot high. If i have profits I book them. I will wait for a bigger dip to go long. chart

#BIIB: Caution. Could be forming a H&S bearish pattern. chart

#COST: Love the company, love the stores. I don't chase it long here until I see what it wants to do at this prior failure level. chart

#CVX: Like XOM it could be headed for trouble. I would be cautious with my longs. chart

#GILD: IF biotechs rebound indeed like we've been saying, then this one could spike to 76+. Otherwise it could drift to 67. chart

#HAL: Caution if long it. It could be testing 39 soon if loses 41. chart

#HUM: Caution if long it. It could be testing 222 soon if loses current level. chart

#INTC: I know everyone loves it now... We called it long a loooong time ago so I'd book profits if I have them. chart

#JNJ: Not done falling. It just may have triggered a momentum sell signal to target 136ish. chart

#KO: LOL a few days ago we said to not chase the KO pop on the day GE fell. BAM those who chased lost serious money. Now it needs a bounce or 44.7 can come next. chart

#ORCL: Wish i knew fundamentals on this company better to judge which way the breakout will happen. It is so tight and a move is coming. chart

Posted to Create Income with Options … on Nov 17, 2017 — 5:11 PM

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