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Stock Picks Technical Analysis 2-16-20 the S&P 500 and the Nasdaq all-time,record high its d7 year w

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Updated on Mar 21,2023

Stock Picks Technical Analysis 2-16-20

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Stock Picks Technical Analysis 2-16-20

the S&P 500 and the Nasdaq all-time,record high its d7 year with grah trade,weekend edition video good through,February 16 2020 in the markets in the,week mixed as you can see here only the,Dow and the Russell's 2000 down in,negative territory we're a little bit of,a dip here on the Russell's 2009 0.3%,crude oil up 1% silver up gold higher,VIX lower 13.7 that's very low guys are,so fear out there in the marketplace to,speak of Bitcoin dips below 10,000 were,it and right around 9900 time in this,video and here we are here we are,looking at the sp500 subscribe hit the,button to get alerts if you want to have,the lateness of markets here here we are,the S&P 500 just keeps going higher and,higher and higher that's what happens we,get dippin you buy the dips and we go,higher it's an insane run that we're on,even with retail you know having some,soft numbers coronavirus we just blew,that off the impeachment we blew it off,we're heading higher higher higher,higher here's what you need to be,looking at the SMP 500 we're going,higher on the daily chart I'm using,trading view it's a software program you,can get yourself the links down in the,description but you need to be long this,market if you are short this market,you're gonna have your head handed to,you and you cannot prejudge the market,you can't do it the SMP is going higher,we're above moving averages really pay a,special attention to the 20 rising,simple moving average watch that blue,line we need to stay above the blue line,any time you dip below the blue line let,that be a warning to you okay when it,dips below the blue line let it be a,warning to you to say okay what pattern,do I have and should I should I should I,be looking to preserve profits take,profits and should I be looking to put,stop losses or tightening stop losses,on the positions my open positions that,I have out there in the marketplace okay,you have to have a rule set set in place,to know what to do and when to do it,okay so that's just a very crude,indicator to be looking at to know if,you should be concerned okay so watch,the twenty simple moving average in this,case it's the blue line on my charts on,the daily charts okay we're heading,higher the sp500 the Nasdaq closed at,all-time record Heights yet again we,just keep going higher so this looks,pretty good,if long as we say above the moving,averages on the sp500 we are good the,Dow the Dow a little more problematic we,had a rising wedge we go higher we broke,the rising wedge we drop down we do a,little bear pullback we pull back to the,rising 20-day moving average but it acts,as resistance and we drop however buyers,came right back into it we popped by the,50-day moving average and we go higher,and we're still chewing higher we're,keep going higher here long as we stay,above again the 20s ma we are okay in,this market the problem is we need to,get above these trend lines because if,not we're on the wrong side of this,resistance okay that resistance needs,active support to keep going bullish,that's what we're looking for Nasdaq,Nasdaq is up up in a way doing really,really well it did break resistance you,can see this what was resistance and,broke resistance right here on this,candlestick and then we're just higher,so that is looking fairly well out there,things are looking well here's this is,the Russell's 2000 small caps and these,are all ETFs I'm looking at,exchange-traded funds exchange-traded,funds or give me volume prints because,of the volume prints I prefer these over,looking at the regular major indices,okay that's why I look at the ETF's over,regular major indices so I like the,volume print and it gives me a good look,at what's happening alright so when I'm,looking at the etf here on the Russell's,2000 this is more problematic this was,like we got a shoulder head and shoulder,if we drop here that'd be head and,shoulder trend reversal pattern we have,a big trend line that we're dealing with,somebody asked in the comments hey can,you show me where you draw in those,lines out,so the line here on the Russell's mm,goes right here right here right here,right here on the day August 31st 2018,game August 24 31st 2018 all right so,now we screw up ahead and we had a major,hit here on January 16th 2020 okay those,are my two points that third point could,be a dandy the question is will we even,get to the line if we fail you if the,line and we start off this week going,bearish that's bad news for the markets,okay that would be bad news however if,we get to this line and we can get above,this trendline that's very very very,good news so this is a very important,chart to me as a trader,I've got to see the next couple days I,you know will it happen my name Monday,Tuesday Wednesday what will happen those,three days will we get above this,trendline or will we stay in below it,will act as resistance and will drop and,head back down to this lower trendline,it could do that another line I could,certainly put in here another line I,could certainly put in here would be,that and oh that's for the you guys see,this line that's my minor guys that's,where you grok mentor students so I'm,gonna read I'm gonna change s right here,go to red and let's stick in that dude,up okay OOP that's not the red I want I,want dark red no not that red I need the,same rate is this I think it is let's go,down one all right there we are that's,good so we have this kind of triangle,that we're dealing with here is so it,would be interesting this is really,important to me what's gonna happen it,could drop down this would be first area,of support next area major support right,down there so be watching that,financials I really like to watch the,financial sees what's happening we are,going higher it is a rising wedge and,let me see what's happening on the,center right yeah so we're heading,higher here adding lower here we got a,bearish divergence guys on the MACD,centered oscillator and so that's,something I'm watching for this doesn't,mean it's going to crash,it has a real good chance of showing its,showing relative weakness out here on,the on a larger time frame so that's a,that's a bad sign,long as we say about moving averages all,as well it's kind of like a high base a,high pennant if you look at this a,bullish pennant formation can't we bust,do all this this week we really need to,see a nice move to the upside that's,what we need to see can we get that,because right now we're kind of caught,below a lot of areas of resistance US,dollars a big-time buy we're up up up up,a nice like we got a like a high base,with the slight pullback,with a spinning top that looks like,we're getting ready to go bullish on the,US dollar crude oil is a bear pullback,down down down,there's your W for bottom we're heading,higher to a resistance area the,trendline and the following 20-day,moving average we have plenty of reward,risk ratio here be looking for a short,on crude oil silver is still set up as a,big bull flag we're about 50% Fibonacci,retracement looks for that to go bullish,gold is going higher I'm just not as not,as strong on that so if I go back to,silver guys this is a real strong we had,this falling wedge we broke out of the,following wedge now we have a bull flag,silver looks red-hot to me very very,good I like the dissipation of volume,that was taking place in the flag,formation part and again a 50% is very,very nice I would like to see a nice,break out above 1680 if I could see a,dice breakout above 1680 that would be,great look for more upside if and when,that happens okay gold goal is a rising,wedge that's why I don't like it as much,it's but it needs that needs to pop up,over this resistance I want to see gold,over 150 on the ETF I want to see that,VIX that is dropping dropping dropping,we had this big spike coronavirus,impeachment whatever you want to call it,then you know some soft earnings,whatever we had a spike that was,problematic especially when you get to,the 20 mark anytime you get to the 20,mark let that be a red flag to you that,is problem in the markets however we,have dropped we're far away from that,we're at 13.7 we're down here at real,low levels guy there's just no fears out,there Bitcoin had a big big drop as we,that we're doing this on Saturday,morning and Saturday afternoon at this,point point we on the lunch hour and we,were dropping and we've got a couple,trend lines that were down below right,now we need to get back above it keep,this as a high base and for it to break,out higher if not this could soften up a,bit,the rising 20-day moving average I'm,watching that to find out how strong,this is gonna be okay,let's look at some stocks of interest,let's go they're kind of cool this has,given me a new drop-down list which is,nice we're gonna look at the Dow 31st we,look at Apple guys everything that I,look at here I may or may not own these,okay education only all right,educational I don't need to keep saying,that I do and legally need to be sharing,that more often than I do all right,Apple we're going higher you can just,make the assumption you can't make any,assumptions okay I'm going to say that,you can't make any assumptions I may or,may not own any of these stocks,I had no know how else to say that okay,so Apple we're going higher I like this,long as we keep staying above the 20-day,moving average I am happy with this the,problem is that's creeping higher on,dissipating volume I'm not liking that,as much so there's some support lines,that I'm keen on it'd be interesting to,see when if it does break down will I,stay above these lines I'm really,interested in that ax P is heading,higher very very nice I like ik merican,Express it's paying just it's paying,some nice money okay or it's it,potentially could be paying some nice,money be a Boeing had this big rally,right to a resistance line this line,comes in here we got support support if,you draw those lines correctly you can,see here we were the shadow dip right,below it but buyers came back in and,popped up and then we got down usually,when you break and it,especially if it's a market maker driven,or specialist driven open which they all,are if it's a little gap it passed major,areas of support resistance because of,these lines you have to you have to,respect these trend lines it drops down,we run up right to the trendline and,then we drop again we come up hit the,trendline we drop again then we drop,drop drop drop drop drop we get to the,trendline the shadow gets up into it,people sell it we drop down but this is,a nice rally to the upside it's an,inverted head and shoulders we broke the,neckline on this on this candlestick,that was February 5th we go higher now,that's a bull pullback now we're looking,for a bull play now this little riskier,because we got a lot of resistance here,we're over a lot of the moving averages,that if this starts irelia gonna be a,nice trade to the upside but you've got,to be careful with your stop-loss have,it in place because you got a lot of,resistance but if it can chew through,those resistance points I'm bowing is,gonna be a nice trade caterpillar is a,great setup for a short caterpillar so,short this is a bear flag down go to,free online training education com,that's the world's longest URL but it's,called free online trading education,dot-com go to charge school look for,bear flag and you'll see this pattern,down flag look for a short on,caterpillar Cisco I'm Cisco is doing,really really well came out with,earnings dropped stay away from this one,Chevron is up over a major area of,resistance and now it came down finding,support at this area that used to be,resistance now at support look for this,to bounce this could be a bull pullback,look for that to bounce to start hitting,higher this could be a V bottom for sure,Disney Disney is is in trouble stay away,from Disney no one wants any part of,Disney right now business it's just,showing some a lot of weakness a lot of,weakness GE is on fire going up the only,problem with it it's just the beta is so,low you don't make a lot of money on the,big moves okay,that's why you'll very seldom ever see,me at GE and Goldman Sachs looks boy,this one's interesting it needs to stay,by the 50 rising 50-day moving average,if it goes below that just stay away,from it but it has its chance people are,gonna buy it needs to go up now,Home Depot it's just doing really well,love it love it love it IBM had a big,hit on Friday big big drop I would stay,away from this one take profits Intel is,going higher but it's one of those ones,that looks starting to look like it's,starting to it's just not a great,formation it needs to get over $69 or so,but then we have the whole dollar 72 to,through just be careful with that one,I'm being careful with Intel Johnson and,Johnson has a nice Bowl pull back to the,you can see that the blue line is very,much honored do you see this it comes up,honored see how its honored its honored,it's just very much honored we closed,below it on Thursday Friday we closed,below it but we do have a hammer here's,the thing with Johnson & Johnson if we,go higher on Monday that could be a,trade opportunity to the long side all,right JP Morgan it's giving cut up in,consolidation even though it's high,basing and but moving averages we have,previous swing highs that are active as,resistance I'm not keen on it coca-cola,keeps going higher you know look for,covered calls on something like,coca-cola right now McDonald's is fine,it's heading higher we had the triangle,break out once it broke out it's up up,up going it's going up it needs stay,above 20 day just so be watching that 3m,is a sell stay away from that Merck it,continues to be a sell Microsoft long as,it keeps going higher this could be OK,for Microsoft Nike is trying it really,really really,Elly is trying it's really trying let's,see that one just stay away from it,I'm PFE it continues to be a sell PG,Proctor stay away from travelers stay,away from UNH stay away from,utx is pulling back to a support that,could be able pull back ready to go,higher I'm not overly excited about it,but there's trade opportunity there and,visa is looking really strong looking,very very strong just stay with that one,if you have it Verizon's or I'm sorry,yeah varieties and stay away from it's a,short WBA Walgreens is a short Walmart,stay away from and Exxon just stay away,from that could get bearish quickly now,we're going to take a look at Drock tech,stocks now these move a little more I'm,more interested in these guys and again,I hey name on 170 of these ok so they,own so let's take a look Apple really,looked at AMD is on fire like an AMD,Amazon is on fire loving it starting to,soften up a little bit maybe given,another buy opportunity Baba big,triangle looking to go I'm higher if it,can go higher needs to get a go above,224 if it gets above 224 I'm looking to,either buyer ad to a position ok but I,do is not as excited about buy do not it,all actually not at all,yeah looked by you could be a short guys,booking stay away from Cisco is down,down down stay away from catfish had a,distribution day dividends day rather,and big,yeah absolutely just be watching that,and eBay is trying to go higher here but,it's doing some low volume not,interested Facebook could be a short,look too short Google is a high base,look to go long Google with an L same,thing high base looks to go long I,jumped way ahead GoPro,stay away from GoPro Microsoft rarely,looked at it mu,I'm stay away could be a short Netflix,I'm tweezer top ok mmm I think if you're,in it we need to tighten stop losses ok,yes if if you're in this one look to,tighten stop losses,alright tweezer tops can be really,bearish quickly so let's take profits,Nvidia is up up and away,this one had earnings did exceptionally,well big volume nice I love it,I'm Oracle stay away from stay away from,Oracle nothing there PayPal is up up and,away stay with that dude it's making,money alright stay with it,we added Roku so oh man I should go back,and look at you know I should give you,guys names call-outs but someone asked,hey can you add Roku I did,Roku had earnings it did drop that,Roku's just it's really popular as a ton,of volume I add it to my list it is,worth looking at definitely worth,looking at very trainable Shopify is a,big time by look to buy Shopify it's,doing well snap blah blah blah blah,ah very just stay away from that one,Tesla look to add to or look to either,buy or stay with your trade if you are,in this one Twitter,same thing just I don't like what it did,on Friday we should have kept rallying,on Friday we did not so that concerns me,concerns me I live this trend line we,have support support support and look,how we go down touch support and we come,right back up draw the trend lines,correctly you'll know for those guys for,those who are in mentoring so listen,first I want to say that's for you guys,who leave comments down below I love,your thoughts I love your ideas on the,market especially those of you who like,to put your your thoughts on the economy,on it or your thoughts versus,commodities versus what's happening in,the markets as a whole you know any,anything that goes even beyond the,technicals you can get now believe I,have to say this I am biased towards,technicals here's why price action is,raw data okay let I want to be really,clear here follow me,the reason I hone in on technicals has,to do with what I have learned in my 22,years of trading using using ta,technical analysis for 22 years I've,been using technical analysis for 22,year over two decades I'm 46 this market,will give us raw data raw data will come,to us in price prints and volume price,action volume charts volume okay that's,raw data whoever reads the raw data best,wins period raw data do not lean on,indicators do not lean on oscillators do,not lean on what you think is gonna,happen due to what's happening in the,economy the weakening of whatever or,this is what's happening in the news I'm,telling you this from a lot of,experience following news never helped,me news only got in my way news only,gave me a bias that most time was wrong,it never helped me as a trader,what did help me was getting into the,minutiae,that my new parts of technical analysis,in a 20 minute video we don't go deep,into technicals I give you the 101,version now you guys think it's the deep,version it's it's not okay what you see,on all the videos online what you see on,my videos are very much 101 you cannot,trade off of the 101 stuff I mean you,can you'll do okay you're not gonna make,a killing alright let's spit at the,outline and you're gonna end up holding,things that you shouldn't be holding but,when you get into the raw data price,action and volume when you look at that,price action you are looking at,something that that is reflecting,reality what reflects reality price,action why is that because that's the,market the market is never wrong always,remember the market is never wrong now,say it again the market is never wrong,the market is never wrong you want to,understand that I'm wearing my mentor,hat here this you're getting a you're,getting a taste of what it's like to go,through mentor soon as you believe the,market can be wrong you will always say,the market does that make sense it's,just chaotic there's no rhyme or reason,I just need to step away from it now,once you're there it's kind of like,wearing the victim hat you are done,forever any time you think you're a,victim you're done forever that's just,in business and life and relationships,at sitting if you're the victim you're,done forever you'll never progress same,thing happens when you think that the,markets are it can if you believe that,the markets cannot be quantified you're,done already your best bet in the market,is to to buy and hold and I can't fault,you with that buy and hold is a great,strategy doing just basic covered calls,is a great strategy you can do that just,by and hold if you get into a buy and,hold just if you were to buy the spiders,and walk away you're gonna be,statistically more than 75 percent of,all financial,visors out there today period studies,statistics show that if you want to be,say a five percenter just by the spiders,and walk away your livelihood depends on,making the right decision with the money,that you have collected and saved I am,here to tell you that the most educated,traders out there are the ones that will,outpace the rest never forget that now,here's the caveat education is only as,good as a person's discipline and an,emotional steadiness in the markets,those are very personal intrinsic issues,you got to deal with but what you do,that you're good once you if I can work,with anybody mark can work with anybody,who is highly disciplined and highly,highly emotionally sound meaning they're,not easily excited not easily drawn to,being depressed those individuals can,can thrive in the market place can,thrive as a trader if there's a,foundation of good solid rock solid,education if you have that mythology's,this and the different skills and,techniques and if you had the training,rules you have those and those are sound,ok testing and tried and proven and,you're disciplined and you have the,emotional state you know you're just,steadfast with fear and greed hmm you're,a rock star already you may not even,know it you are you are the perfect,student for us that's who we're looking,for we want our students doing better,than all the other students out there we,developing faster than all the other,students out there that's that's what we,want and yeah that's me being selfish I,just want anybody it's a grok trade,student we want you doing better than,everybody else,yeah but I say that to say this price,action is king and queen right if price,action is is his king and volume is is,the queen and that's raw data you need,to analyze that better than everybody,else,you've got to analyze it better than,everybody else I here I look at these,charts I look at him and look at them,study them and I can see when I look at,these charts there's money there's so,much money out there it's all around us,all we have to do is stick our net out,and grab it take take preserve preserve,take take preserve that's it now taking,wild swings not being gamblers being a,house,take-take-take small small small small,grow grow grow grow big swings never,make it it is a fun game that we play,guys fun game fun game yeah anyway can,you tell passionate about this,passionate about training what I'm most,passionate about is you not losing your,money if you're down 15% ouch you should,be up money not down if you're down 20%,oh you're down 30% I'm sorry if you're,down 50% you've got to do and you just,if you're down at all in this market you,need to stop the bleeding put a,tourniquet on it turn things around do,something different than you've done,before because what you're doing is not,working you need to understand that most,of us are very pragmatic thinkers just,be thinking if I'm,if it's if I'm losing money I've got to,change that throw that out,don't be biased towards your ideas and,your thinking your your mythology's,throw that out and change it you've got,to be making money always let the market,be your benchmark are you doing better,than the Dow,are you doing better than the S&P 500 if,you are boom rock and roll you're doing,it love it because eventually depending,on your dollar amount you are now on the,path to being a full-time trader once,you're a full-time trader the freedom is,unbelievable,last time I had a job Jo B what year was,it 2004 ah then I had a job that's a,good man it may be earlier than that I,can't believe I should be yeah I should,have that figured out before I do my,monologue I can't believe your study if,you're still with me say made it because,yeah because you did you made it so,that's it that's it hope you guys are,doing well look forward to a awesome,week of making money in the markets,share us with a friend follow us if you,haven't yet catch up with you later bye,you

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