Each morning I post short videos via StockTwits wherein I discuss general market conditions, bonds, precious metals and commodities to determine possible high probability trade set ups. Here is my latest:
THE STOCK MARKET…IN THE CROSSHAIRS
SUMMARY: Sitting at the “yellow zone” support for possible reversal or continued break down here as we keep an eye on key weekly chart areas. Bonds are breaking higher toward the top of a consolidation box. Oil has set up for another possible leg down after breaking a recent support level, natural gas has broken an uptrend line, while precious metals have become volatile forming both support and resistance levels to watch.
STOCKS…IN THE CROSSHAIRS
SUMMARY: After several days of weakness we are now near areas of possible support on both the daily and weekly charts so we are watching for these areas to hold or simply rest before breaking further. Watching both long and short opportunities play out with an emphasis on the long side if current general market support holds up on the weekly charts. If we break down, then we have a few short ideas as well. Added a few new names to watch.
NOTE: The above are provided as opinions not facts, as no one and no chart can consistently and accurately predict the unknown.