TraderWise

Financial stocks are always on the radar of traders, and GS is usually at the top of the list.  Interestingly, this one looks like it’s gearing up for a move of its own.

Here’s a quick reminder about tonight’s free trading webinar, as I would love to see you there if possible.

Locating Trade Candidates with TheStockBandit

I’m excited to run through a number of interesting chart setups, from both the bullish and bearish sides, in order to teach you some concepts and of course put some quality plays on your radar.

I’ve written often about the value of changing routines. Eliminating a routine that involves spending money needlessly, or substituting a different routine that involves spending less money, is a great way to cut your spending.

In fact, any time you make a choice to reduce your spending, you’re taking a powerful step in a financially healthy direction.

But it’s just a single step. Alone, reducing spending cannot bring about positive financial change in your life.

Working the charts today, I’m seeing a ton of stocks sitting just beneath descending trend lines, all of which are potential pivots for bullish moves.

In the video below, I take 5 minutes to run through a couple dozen setups to keep an eye on, highlighting the setups and pivot levels to take note of.

Thanks for joining me for today’s video, until next time…

Trade Like a Bandit!

If you see a potential Bull Flag setting up, do you know how to project the Profit Target?  Let’s use Friday’s intraday action and the bull flag that set-up mid-day to learn how to find the price projection point of a Measured Move or Bull Flag.

This week has been a little strange toward the end in terms of standard market relationships, specifically with those of equities (seen by the S&P 500) and Oil, and then equities and the Volatility Index (VIX).

Generally, oil moves in the same direction as stocks while the Volatility Index moves opposite stocks, but over the last few days, that relationship has been strained intraday.

Let’s take a look, first starting with Oil and the S&P 500.

If you’re an active trader, no doubt you’re on the edge of your trading chair trying to figure out if the S&P 500 is going to breakout through the key 1,300 level today, tomorrow, or alternately retrace deeper from here.

Let’s take a quick “Step-Inside” analysis of the intraday price and compare it to signals from key Market Internals and set-up a potential game-plan scenario depending on who wins the “Battle for 1,300.”

5-min SP500 Chart:

I recently highlighted the “Bull Flag Formation in the US Dollar Index” on January 18th (see prior post), and now that we have successfully broken higher confirming the bull flag, it’s time to take an updated view of the daily US Dollar Index chart to take a look at a “bump in the road” that must be overcome to complete the full target.

Let’s see that now.

Let’s take a quick look at the daily chart of Gold to note a recent “Bull Flag” pattern, and also revisit the “Triangle” breakout pattern that triggered as a potential set-up in early September.  We’ll note two potential upside targets if these are the dominant technical price patterns in gold.

Taking a quick look at these two patterns, let’s start first with the “Bull Flag” that is playing out currently.