Send me real-time posts from this site at my email

Weekly Tech Charts & Report - Nov. 8 - by TradesAfterWork

Subscribers Special Report


Via -TradesAfterWork.com
Posting this to share with our readers: (We really like these Weekly Technical Briefs by TaW)

The Daily chart of the Nasdaq Composite Index below shows a tremendous week in the market last week. The Composite gapped up every day last week except Monday. What do those gaps mean? That there are more buyers than sellers in this index. The bulls have retaken the short-term trend. One of the advantages the bears have, though, is that we are getting near some overhead resistance or sellers.
The daily chart of the S&P 500 Index looks nearly identical to the Composite Chart, except that the PPO is positive, but below its zero line. The S&P 500 Index is also nearing a price area where we may find some sellers. With such strong price action in all the markets last week, we may get some pause in the price action.
The Weekly Chart of the Nasdaq Composite Index is showing a negative divergence on its PPO. What does that mean? The bullish momentum of the Composite has not stayed in harmony with the price action. Is this a cause for concern? It might be, but with the short-term trend of the market being positive, likely this is just indicating a pause that refreshes, providing, of course, that the negative divergence plays out. Many times negative & positive divergences don't play themselves out. We will see if this one does.

Disclosure: I may trade in the ticker symbols mentioned, both long or short. My articles represent my personal opinion and analysis and should not be taken as investment advice. Readers should do their own research before making decisions to buy or sell securities. Trading and investing include risks, including loss of principal.

If you liked this article, please click the LIKE (thumbs up) button.

Feel free to leave any comments, question, or opinions. (Sign-up if you haven't already done so)!

Follow us/bookmark us and check back occasionally for additional articles or comments on our page...

Wild Tiger Trading - start/main page.

With our Daily Trackdowns, check back for additional analysis/observations during the trading day in the comments by us or our readers.

.
Are you interested in trading stocks to supplement your income or make a living? Maybe become a professional trader? Many traders have the skills and nerves to trade, but not the upfront capital.Well now that problem is solved!
Try2BeFunded
has expanded its trading program! If you're a novice or experienced trader, you can earn access to a trading account with up to $100,000! To learn more about how to qualify, click HERE and give it a shot! You have nothing to lose it is free to try.

Give Try2BeFunded a try!

.

Welcome! Is it your First time here?

What are you looking for? Select your points of interest to improve your first-time experience:

Apply & Continue