Author: "Danno" Sheehy

An updated chart of our proprietary measure of broad market money flow (MF) versus the daily close of the S&P 500 Index (SPY) is posted below. Although MF (blue line) has held its current level above the triangle we illustrated the last time we published the chart (April 20, magenta arrow), it remains inside its […]

Each week Peter and his minions scour the markets to find the best equity and forex setups for the followers of the Swing Trader and FX Trader. Premium subscribers get 2-5 of these daily. Every weekend we present one trade idea from either the equity or the forex side here.Note: Free weekly trade ideas are […]

First a heads up. President Trump will be interviewed this morning at 6:00am on Fox and friends. His words have been know to move the market. With North Korea front and center, Aerospace and Defense names might continue to see the benefit of comments from the President this morning. Not wanting to advocate new positions […]

Picking spots (both long and short) to chip out profits is the near term name of the game. Home runs are rare so don’t plan on them. Take profits when you have them and cut losing positions without hesitation. Don’t look back. With this in mind, Omeros (OMER) is worth consideration for a short play. […]

The Russell 2000 Index (IWM) will be a big tell for the market in the near term. Please observe the chart below. IWM diverged from the other major US stock indices by eclipsing this years highs during the past five trading days. Without the S&P 500 Index or the NASDAQ 100 Index following suit, the […]

Whether or not the S&P 500 Index (SPX)continues higher ahead of the holdiay weekend remains to be seen. However, the chart below displays at least one market internal that bulls have going for them. The top chart plots NYSE New Highs Versus New Lows (NYHL) on the daily time frame. The bottom chart shows the […]

A long trade looks to be materializing in Exact Sciences (EXAS). EXAS has formed the bull pennant outlined in blue on the daily chart above. The stock has also broke the six month downtrend line in late April. There is a relatively low amount of resistance from the top of the triangle to the prior […]

Each week Peter and his minions scour the markets to find the best equity and forex setups for the followers of the Swing Trader and FX Trader. Premium subscribers get 2-5 of these daily. Every weekend we present one trade idea from either the equity or the forex side here.Note: Free weekly trade ideas are […]

We noted in today’s Sector Trend Score section that $DJUSRE is oversold as of yesterday’s close. One way to trade this sector is via the real estate ETF IYR. Please observe the chart below. We have drawn two trendlines at the bottom of the ascending channel of IYR. The “three touch” method which connects the […]

A table listing all of the stock repurchase plans approved on March 1, 2018 or later, by companies with share prices $10+ and daily average volume of 500k+, is posted below. We thought this table would be a useful reference when considering a trade in any of the names. There is no guarantee that a […]

Today, we are approaching the market with a “prove it” attitude. The market is going to have to prove that it is really rolling over here as opposed to just working off its recent overbought status with a sideway-to-lower move. The later case plays right into the hand of a good long entry location in […]

Yesterday we entered a short position in Allstate (ALL). The setup is still viable for entry based on the chart below. The dashed arrow traces how ALL broke down form the three month ascending channel (magenta lines) and how it came back to kiss the bottom of the channel before reversing lower yesterday. An undercut […]