Husband. Father. Trader. Sports enthusiast. Education Coach @SchwabTrading. Imp. Disclosures: bit.ly/3JtFGDT
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$ARM broke short-term resistance thru $280 last week and was tossed back to it for a new support test this week.
@SchwabNetwork @SchwabTrading #SchwabCoaching
*not a recommendation
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$LITE weekly chart highlights improving conditions following a period of consolidation. RSI bouncing from the 50-line, MACD shows imminent crossover and the 50-Week SMA continues to rise.
@SchwabNetwork @SchwabTrading #SchwabCoaching *not a recommendation
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$Utilities is not a sector I chart and share frequently but it's notable how over-extended it is to the downside while the 10-year note is over-extended to the upside. I don't proclaim to know when this changes, but when yields retreat, it will likely help $Utilities to bounce back. Of course a bounce is not the same as a reversal.
@SchwabNetwork @SchwabTrading #SchwabCoaching
*not a recommendation
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$Oil rejected at the $97 level this morning following reports of the US easing sanctions on Iran during ongoing negotiations.
@SchwabNetwork @SchwabTrading #SchwabCoaching *not a recommendation
$Oil held the $89 so far and wouldn't mind this getting pushed lower from here. $98 is an important spot for potential resistance
@SchwabTrading @SchwabNetwork #SchwabCoaching
*not a recommendation
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$ZBRA breaking from its flag to the upside. A notable move today with the $Technology sector in pullback mode @SchwabTrading @SchwabNetwork #SchwabCoaching
*not a recommendation
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$COP bouncing off its 50-DMA like the Energy sector
@SchwabTrading @SchwabNetwork #SchwabCoaching
*not a recommendation
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$Oil held the $89 so far and wouldn't mind this getting pushed lower from here. $98 is an important spot for potential resistance
@SchwabTrading @SchwabNetwork #SchwabCoaching
*not a recommendation
$Oil continues to get hammered here, now off 16.5% from its 9.15.26 high. Equity markets continue to benefit. Under $89 is a potential bullish catalyst for equities.
@SchwabTrading
@SchwabNetwork
#SchwabCoaching*not a recommendation
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Ten year yields exploding higher and pressuring markets
@SchwabTrading @SchwabNetwork #SchwabCoaching
*not a recommendation
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$Oil continues to get hammered here, now off 16.5% from its 9.15.26 high. Equity markets continue to benefit. Under $89 is a potential bullish catalyst for equities.
@SchwabTrading
@SchwabNetwork
#SchwabCoaching*not a recommendation
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Always appreciate a shoutout, @RachelDashCS
SPCX on the improvement trail. Some traders still waiting on it to trade above the IPO-day high, around $177, but the 20-DMA does appear to be offering trend management opportunities.
@SchwabTrading @SchwabNetwork #SchwabCoaching
*not a recommendation
$SPCX Three consecutive weekly closes above the 38.2% Fibonacci retracement level, which some technicians may view as evidence that former resistance could begin acting as support (referred to in #SchwabCoaching as the "@KevinHornerCS Rule").
Implied volatility is nearing historic lows for #SPCX.
As volatility is often considered a mean-reverting instrument, some market participants monitor unusually low volatility environments for signs of a future expansion in volatility, which may occur alongside a significant price move higher or lower.
*Schwab does not recommend the use of technical analysis as a sole means of investment research
*All names and market data shown below are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security
*Chart source: thinkorswim
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Very interesting chart from @RachelDashCS @SchwabNetwork @SchwabTrading #SchwabCoaching
*not a recommendation
The $CRBIndex (Commodities) relative to $SPX is appearing to form a possible long-term inverse head & shoulders reversal formation just beneath the 38.2% Fibonacci retracement.
Some technicians may view a decisive break above neckline resistance as confirmation of the pattern and evidence that the relative trend between commodities and stocks may be shifting.
*Schwab does not recommend the use of technical analysis as a sole means of investment research
*All names and market data shown below are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security
*Chart source: StockCharts.com
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$OXY moving higher while $CrudeOil does the same...closing in on $107/barrel
@SchwabTrading @SchwabNetwork #SchwabCoaching
*not a recommendation
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$Materials with a hammer-candle at the 200-DMA. Still too early to know, but this may be a spot for bulls to step into the longer uptrend. The group showing a casual ascending triangle built over the past six months
@SchwabTrading @SchwabNetwork #SchwabCoaching
*not a recommendation
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$Healthcare pulled back to horizontal support following its break of the 20-DMA. Yesterday this index managed to close above the high of Friday, potentially signaling a return to the uptrend.
@SchwabTrading @SchwabNetwork #SchwabCoaching
*not a recommendation
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$Technology stuck in this range over the last six weeks. Traders don't have to guess which way this goes; they may wait for the breakout or breakdown and take the trade in the direction of the break.
@SchwabTrading @SchwabNetwork #SchwabCoaching
*not a recommendation
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$BAC CEO says trading revenue will be 'flat', leading to this ugly candle. Support test incoming?
@SchwabTrading @SchwabNetwork #SchwabCoaching
*not a recommendation
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$COIN with a very similar look to $MSTR. Bumping its head on the 200-DMA today, can this punch through?
@SchwabTrading @SchwabNetwork #SchwabCoaching
*not a recommendation
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$MSTR continues to hold short-term support around its 20-DMA (orange) but could a push through $145 take the lid off this one? Volume has been building in the past month
@SchwabTrading @SchwabNetwork #SchwabCoaching
*not a recommendation
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$SNDK sitting on a potential support level around $1500. August lows around $1400 could come into play for a support-test as well.
@SchwabTrading @SchwabNetwork #SchwabCoaching
*not a recommendation
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Next week the Schwab Events Team will be in Scottsdale for our next Market Drive event. Great opportunity to see your coaches and network with attendees.
You can register for this complimentary event here: schwab.swoogo.com/marketdriv…
@SchwabTrading @SchwabNetwork #SchwabCoaching
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