Weakness in the small cap stocks housed in the Russell 2000 Index this week spilled over into the rest of the tape today, as the overwhelming majority of breakout plays struggled. The market suffered what can best be described as minor technical damage today amid an afternoon sell-off.
I discuss those topics, as well as specific price levels to watch and actionable trading ideas, in tonight’s video to help prepare you for Thursday.
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Enjoy tonight’s video, and enjoy your evening.
Great recap, thanks for putting these together for us.
You bet, OT. Thank you.
Chess- With the AH news of FB joining S&P does this still have room to run?
Can see a nice range breakout over $52.
oooo, what got you to switch to youtube?
Haha, Vimeo had issues today.
I’m not sure what to think about it, but I’m in CAF instead of FXI and it isn’t flashing warning signs yet. Much cleaner looking.
I’ll have a look. Thanks, mateo.
Not saying it looks great, mind you, but I’m inclined to let it play out down to around 24, maybe.
I agree–not as weak on a relative basis.
Got the Vimeo up now.
boooo, youtube all the way!!!
Why? Just curious, sia.
I just like youtube. No real reason. Also has commenting and voting and stuff, if that is appealing.
Ah, ok. thanks!
Great recap as always Chess. Refreshing to see intelligent technical analysis with a sincere humility and lack of bravado. Got a question for you though: been trading more and more commodity ETFs like UGAZ UCO & USLV et al. Aren’t their price movements strictly related to the underlying commodity? Hence tech charting not as relevant? Or does investor buying and selling play a role? This is something I still find quite puzzling. Any insight?
Favor the straight up instruments like UNG GDX etc
These instruments are all monsters and very volatile. I just try to cut losses and get my quick, big scores on the upside.