Simple Market Update Week Ending 26 February 2016

SPX — 1950 is still the key level.  Watch how price behaves relative to that this week.  Still no purchase below 2040.

SPX W Wk Ended 26Feb2016

 

DJIA — Price failed inside the Magnet Zone… Watch last week’s high and 17,000… More like 17,500 before you can consider a purchase…

DJIA W Wk Ended 26Feb2016

 

QQQ — Former students of mine keep reminding me that I’m “wrong” by $7 so far.  I wouldn’t be interested in a long position until I’m “wrong” by at least $11… up around $108.

QQQ W Wk Ended 26Feb2016

 

EUR — The Euro is in a long term downtrend.  Use the box to identify short entries and control risk…

EUR W Wk Ending 26Feb2016

 

FB — One of the names helping hold the overall market up… Watch how price acts around the top of the box next week.

FB W Week Ending 26Feb2016

 

AMZN — Sharp bounces tend to be fleeting… If price starts back to the downside, watch the $480 level.

AMZN W Week Ended 26Feb2016

 

NFLX — Support held at the $79 a few weeks ago… the real question comes now… Wouldn’t consider a long unless price can get back above $102.

NFLX W Week Ended 26Feb2016

 

GOOG — Price is still structured positively, but is at the bottom of its recent range.  Above TVZ so longs ok, but tight stops.

GOOG W Wk Ended 26Feb2016

 

A lot of questions should get answered this week.  Make sure you’re listening…

 

KIS,

The Trader

 

P.S.  There’s more behind the membership wall.  Get a free E Membership by clicking the link below.

 

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