Quote of The Day "No problem can withstand the assault of sustained thinking."
-- Voltaire
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How To Use TAOST Wrap [Video] This video was recorded to help my folks understand how to use the daily wrap that I produced each day. It works for a weekly wrapup as well. |
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Share... Friends don't let friends trade without TAOST... Use any of the buttons below to share with people you think would find this useful.
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TAOST Stock Indices & FAANG |
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| Dow Jones Industrial Avg ETF [DIA] -- DIA looks ready to go higher. Last week's closing price's proximity to the highs makes it look like price is on a trajectory to drive higher. |
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| Nasdaq 100 ETF [QQQ] -- The widespread price action delivering both a higher high and a lower low tells the story of how confused the market is. |
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| Facebook [FB] Chart - Notwithstanding the likely lower high here, the 2 candle pattern of last week and the week before strongly suggest that price could push higher. |
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| Apple [AAPL] Chart - Watch the lower high for resistance in coming days. |
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| Amazon [AMZN] Chart - Consistent with other tech charts, price looks prepared to drive higher. |
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| Alphabet [GOOG] Chart - Alphabet has strong support inside the box and just below. |
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| DAX Index (Germany) [DAX] - Potentially powerful triangle pattern. |
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| Nikkei 225 Index (Japan) [NI225] - Japan's primary stock index has had a nice run higher since late 2016, but is beginning to look a little heavy now. |
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| Shanghai Composite [SHCOMP] - If you're looking to buy Shanghai "value" you could do worse than this classic pattern... "Break down trend line then pull back and retest said trend line. |
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Fixed Income & Currencies |
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| 10 Year T Note Yield [TNX] Chart - The yield on the 10 Year Note looks ready to fall back below 2%. Pay special attention to next week's Fed announcement and the word's surrounding that announcement. |
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| High Yield (Junk) Bond ETF [JNK] Chart - The junk bond market sends clear signals as to how traders feel about the prospects of companies and the associated risk with each. |
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| Euro/USD [EUR] Chart - Down trend line and TMZ acting as resistance. |
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| Bitcoin/USD [BTCUSD] Chart - As promised, here's a look at Bitcoin. Last week's price action might be confirmation of the resumption of upside pressure. I won't be a fan unless price can trade and settle north of $1,000. |
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| Gold ETF [GLD] Chart - Lots of folks confused about how both stocks and gold can move higher. While traditionally gold and stocks don't move higher at the same time, it's possible there are other drivers. For example, what if China has been quietly [but relentlessly] buying gold in anticipation of dumping other US securities in the near future? |
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| United States Oil Fund [USO] Chart - The pattern speaks for itself... If you're interested in USO watch $14 and $9 for directional clarity. |
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TAOST Stalk Idea of The Week This week's Stalk Idea is Gentex Corp. [GNTX]. I've reviewed GNTX before... My opinion hasn't changed. The stock looks structured to the upside and, most critical to me, the ultimate stop [where you should change your mind about the upside prospects of GNTX] level is pretty tight to the current price. |
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| Monthly Chart - Taking a giant step back and viewing from the perspective of the monthly chart, there's clearly a rising triangle here. This is 1 of the most bullish patterns I trade. |
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| Weekly Chart - The weekly chart tightens the view and shows price bubbling higher, but admittedly the less than clean touches of the rising trendline suggest otherwise. |
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| Daily Chart - The price action tightened [while trending higher] from mid 2016 to now... At this point the stock may very well be coiling for the next leg higher. I would look for low risk entries to positioned for a strong move higher. |
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| Recent Price & Other Data |
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| Short Interest Data - 6 days to cover could lead to a strong push higher. |
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As always, make up your own mind and, more important, minimize your risk no matter what you do.
KIS,
The Trader
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P.P.S. If you want access when this wrap moves to FB Lives, click the button below and join my FB Group Secrets of Simple Trading.
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