Category Archives: Member Only

New Chinese Stock $IQ Price Projection

The new IPO Chinese stock $IQ has caught on fire since May 10, 2018 when it broke out the previous resistance at 20.50.  It entered a virgin price territory with volume.  The subsequent performance is nothing short of being fabulous.  It has become one of the most traded stocks on Robinhood among the millennials.

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S&P 500 Cash Index Cycle Location 05252018

The market continues to be in sideways consolidation even though it clearly is in the process of a new weekly cycle that started on the week of 04/06/2018. The investors are not convinced that the current level is a bargain despite the great earnings report.

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S&P 500 Cash Index Cycle Location 05042018

The S&P 500 cash index violated the wedge on the downside on 05/03/2018, but the next day it promptly reversed the direction.  The failure to bust the wedge on the downside brought out the daily cycle that its cycle low was made on 05/03/2018.  Right now it is still trading

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Earnings Failed to Change the Mood

Intel and Microsoft both had a blowout earnings report, it didn’t matter.  The market couldn’t sustain the overnight rally and it was sold off during the day session.  The market is at a serious cross road.  It is contemplating a host of issues.

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Sideways Movement–Consolidation Continues

The stock market is stuck in consolidation.  The fundamental news continues to be negative, but the selloff has been less severe considering how negative the news has been.  The trade war in the tech sector is a real concern.  The full-fledged trade war will for sure destroy the world economy. 

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