78 results found for ""
- Indices to Watch Sampler June 14, 2021
Want to know what's coming up for the NYSE on June 14th, 2021? Find out the opinions of TurboTrading's head trader, Robert Knight, MBA. This "Indices Watchlist Sampler" is just one part of the report. Paying TurboTrading members get this report each week. Plus, a Stocks to Watch List the night before each trading day. TurboTrading offers a free TurboTrading 1-Week Trial, or become a paid TurboTrading Member to get the Stocks to Watch List. Here's the free sample: June 14, 2021 SPY: SPY closed at an all-time high closing and just 1 point short of an ATH. It continues to grind its way higher on average volume. It is not a blow-off type break out and sellers seem to be muted. The index remains in a strong rising channel. I would expect this trend to continue. Next target 4300. NDX: The NDX double topped in April and then double-bottomed in May. It remains in a strong rising channel coming into the apex of an ascending triangle. This recent move could be the start of the 3rd wave of a 5 wave move off the double bottom. It needs to get through 14075. Failure there could mean a pull back to 13500. A break out would put the targets around 14650 and 15000. Chart remains bullish. DOW: Last week the DOW double topped at 34820 area. It pulled back but is finding support on the 20-day m.a. and lateral support around 34435. It has stronger support at 34000. The index remains in a strong rising channel but is mid-channel so vulnerable to a pull back. Look for it to consolidate for another 2 weeks before pushing into new high ground. DJ-Transportation: The Trannies could spoil the party. It double topped at 16000 last month but now has broken down below lateral support at 15347. For now, it has bounced off the 50-day m.a. Bigger support at 15000. The index does remain in a strong rising channel. But we need to see the index confirm the SPY break out. Failure to do so would be a negative divergence and perhaps a harbinger of negative trends to come. IWM: The IWM is in a 6-month consolidation pattern. It put in a double top last week at $234.50. For now, it is holding support at $230. It could pull back to $223 level and still remain intact. Much below $218 and we may have a change in direction for mid and small cap. But if it holds the rising channel line an breaks out to new ATHs then that would be a very powerful signal for markets. We should see the key direction over the next 2 weeks; break out or break down. FAS: The financial ETF put in a double top in early June and has sold off to the intermediate rising channel line. It has key support in the $108/$110 range. Below that and $100 is the next support. The longer-term trend remains bullish. But perhaps as markets stall in here it needs to consolidate before trending higher. LABU: With the recent strength in the mid and small cap market, LABU is showing a reversal from its major down trend. After making a 5 wave move down the ETF has broken out of its long-term declining channel. Looking at the hourly chart it has made a V bottom, right-hand extension pattern. Last week it surged off support and now flagging above the 50-day m.a. average. Support now around $71. Targets $85 and $96.75. SMH: The semiconductor ETF double topped in Feb/April. But it double-bottomed in May. It is in a 5-month consolidation pattern. It is currently hemmed in by the declining tops line. It needs to get through $258.60 with strong momentum to continue the bullish trend. Below $220 would signal a major change in direction for markets. GUSH: Oil remains very strong over $70/bbl. Oil companies can make a lot of money at that price. The ETF is in the 3rd wave of a 5 wave move to the upside. Inside that larger 3rd wave it is forming a 4th wave of 5 waves. It is in a strong rising channel. Targets for GUSH are $138 (mid gap fill) and $185 (gap fill). NUGT: After breaking out of a massive down trending channel in May, the ETF is now in a new rising channel. It is flagging in here with key support at $70. Look for NUGT to trade to $90 and $100 if the trend line holds. Technical Indicators: Even though the SPY is trading at ATHs the markets are neither overbought nor oversold. 62% of stocks are above their 40-day moving average and the McClellan Oscillator sits at 45. Both indicators are neutral showing that there still is not broad participation in the market. If markets should start to make a significant move to the upside there is lots of internal energy available for the upward trend to be strong. VIX remains bullish under 20 (15.65). The market trends remain bullish. Note: Become a TurboTrading Day Trade Member to get the full Stocks to Watch list, daily webinar with live trades, expert commentary, our library of 500 educational trading videos, ten chat rooms, swing trade alerts, and more. We also have a membership plan for Swing Traders. Start with a free 1-week trial.
- Channel Lines and Their Relative Strength - Video and Transcript
Okay, this is a quick video on drawing trend lines and the significance of the trend lines for support and resistance. As you know, TurboTrading here, we're just, you only use, I only use a couple of, of patterns or indicators to trade stocks, the main ones being support and resistance levels, trend lines, and then the moving averages, but more of the moving averages are more on the date, on the daily chart, the 50 moving and the 20 moving. And these are lagging indicators. So I just use them more for direction of the market or to see if there is a change in direction. But somebody asked me the question that they were saying that the stock had traded through up through a declining tops line. And, you know, should we be looking to trade this? The thing about trend lines, and we'll call that in a general form, we'll call horizontal lines and angle lines, all trend lines. The thing about trend lines is one. The key point is that you have to draw them in the same place. The rest of the world is drawing them. Otherwise, there's no; there's no relevance to them. For instance, let's say I drew a line in here. I thought, hm, this is support for the stock in here. And it just went through it like a hot knife through hash, you know, sold off so sharply. And you think, well, isn't that support? No, because nobody else in the world is drawing their line there. Some people might cause they thought that was a top, but in general, that's, you know, there's not going to be many people drawing their lines there, therefore, nobody, nobody else. Except you believe that that's a support level or a resistance level, as the case may be. Now I drew a line here because we did get some support, but when it got down, and it did get down to it and bounce back up, but it just continued on because the selling pressure was so great. Any kind of support didn't help. Then we drew a line in here. This was the resistance area for these stocks here, here, and here, you see, and then it pops through it. And so I extended that line here, and now it's not an exact science. We did see that they did spike down through the support level, but it did hold. Why? Well, because this was the, you know, the pre-market level. And it was a pre-market level there was this resistance in here all gave this some support here, and you can see a gain. Here's the support gain. So I'm not the only person that drew this line in here to, for support and then to come in, to buy the stock. Now, the other point is are the, are the channel lines that we trade typically, or I'd say statistically, the rising or the channel lines are not as strong of support and resistance as the horizontal support and resistance lines. This, the channel lines are great because you can see, you know, it gives good direction, good shows, great visualization on where the stock is going. But we see that we joined the dot here, dot here, and a dot here. But when this stock broke up through this resistance level, here pulled back, came back, held support, allowed us to draw the trend line, held support on the support line. So when it pulled back here and held, did it hold the trend line, or did it hold the support line, the lateral support line? Well, I'm going to argue that it was both actually the combination of these two, points intersection with each other, gave it a strong support level of pullback traded off the 50 traded off the trendline traded off lateral support. There was three or four reasons why the stock bounced sure enough, off it went. Now it did get up to the top of the trend line. And when it did, there wasn't any other sort of resistance level for it. So you had to rely on the trend line, and everybody was, and sure enough, you get this candle, uh, you know, the Doji candle star X candles, red, you need to get out of the trade. We saw then that it broke down. It held on the trendline. But when, but when we drew this triangle patterns, which is just the intersection of a declining channel and a rising channel, when it got to the apex of that channel, I said, okay, this is either going to pop or drop and sure enough, it dropped, but it dropped. Where did it drop you to drop it the trend line, or did it drop at lateral support? Well, I'm going to argue again that it was the combination of these three patterns, the apex, the wedge lateral resistance, and the declining tops line resistance, that forced this. That didn't force it, all the other traders that are watching this, especially those that were shorting stocks or had a long position went, whoops, we need to get out of this because there's massive, uh, overhead resistance for the stock, with the support and trendlines, and sure enough, off it came sold down, but it did sell down to the support line. You can see here, this has big support for pop down, try to gain held, and now trading back up. So, the rising or falling trend lines in of themselves are not as strong as a lateral horizontal trendline by itself, where you get stronger support resistance is when all of the stars align. The 50 period here, the trading, the, you know, the trend line, horizontal lateral support when they all converge when they all converge, then that's much stronger than the single line in of itself. But so in, in, in terms of support, the weakest in relative terms are rising or falling channel line, uh, lateral horizontal lines. And then the mixture of the lines are the most or give you the best support, resistance type patterns. --------------- Get a free trial of the TurboTrading Trader membership
- Bitcoin: A Kick to the Groin. Editorial Video by Robert Knight June 15 2021
On Tuesday, June 15th 2021, TurboTrading's Head Trader, Robert Knight, MBA offered his expert opinion and analysis of cryptocurrency, including Bitcoin. This free video is aimed at Day Traders, Swing Trader, and anyone interested in trading cryptocurrency. Watch the entire video below: This video is strictly editorial. What the advantages and disadvantages of Altcurrencies? TurboTrading’s Head Trader, Robert Knight, MBA, offers detailed information about how Bitcoin and other cryptocurrencies work. What does the future of Bitcoin look like? Why does it feel like a kick in the groin? How big are the risks?
- Turbo Trading Corp
Climber: Bob Knight Turbo Trading Day Trade Chat Moderator Location: Yak Peak, BC Stay Current With The Markets JOIN OUR EMAIL LIST Submit Reach New Levels of Trading Proficiency Trade With Experts - Stocks & Options Experience The Benefits of Our Trading Community: Trader Chat Room - Stocks & Options Teaching Webinars Exclusive Trading Videos Stocks to Watch Daily Report 3 Experienced Moderators Swing Trade Alerts & Analysis Get a 7 Day Pass Meet Our Top-Quality Moderators Bob Jeff Tyler Moderator Bios VIDEO REVIEWS: WHAT MEMBERS SAID Recent Blog Posts & Videos Indices to Watch Sampler June 14, 2021 Channel Lines and Their Relative Strength - Video and Transcript Bitcoin: A Kick to the Groin. Editorial Video by Robert Knight June 15 2021 Turbo Trading Trade Analysis 2018 - 2021 Losing Trades: 28% Winning Trades: 72% 2018-2021 Swing Trade Analysis Full Membership Benefits Turbo Trading Room Unlimited access to the Turbo Trading Room staffed by 5 expert moderators trading stocks and options Live commentary with screen share from the moderators Real-time trading set ups and alerts with live trades Webinars Webinars for all levels of traders Day trade long or short, swing trades, options and much more Compelling topics Ask your questions Swing Trades Timely alerts for Swing Trades Swing trade page with entries, stops and targets Regular updates of the Swing Trade Database Full Analysis of Swing Trades Long and Short Stocks to Watch Daily Watch List Expanded watch list detailing indices, sectors and ETFs Morning notes on hot stocks for the day Tutorial trading videos from each expert in their field Choose a Subscription Day Traders Swing Traders Subscription Chooser Save Time TurboTrading Flash Option Program Options Trade in Minutes a Week. Flash Option Program Details Watch the Flash Option Program Intro Video: Learn More
- Chat Room | Turbo Trading Corp
Trader's Chat Room Are you a Paid Member? Visit Chat Room Turbobob Trading Chat Room is available to members and trialers. See subscription options. Access the Turbo Trading Chat Room, moderated by 3 trading experts with a variety of specialties for every trader Chat Room is open 24 hours a day on Flock Continuous live commentary and trade alerts with screen sharing. S tarts 1 hour before the bell rings on NYSE trading days only. Start the day with fresh trading ideas! Day trades, long and short Swing trades, long and short OTC and Pink Sheet highlights Option Trading Note: The Swing Trader Membership does not include the Chat Rooms. Trial/Subscribe Get a 7 Day Pass
- Videos | Turbo Trading Corp
Videos Members have access to a large library of videos on all different topics. Many of the videos are recaps of trades completed by the moderators with detailed steps on their set ups and execution. But also, there are many educational videos on different chart patterns and set ups every trader needs to know. Not a member yet? Sign up now and receive ALL of the benefits members have. Subscribe Members: View Videos TurboTrading on YouTube Visit YouTube Channel