Up 12 of the last 13 days at mid-day, equities are cutting through some rarely-tread waters today with the June S&P 500 E-mini futures contract (ES) battling to close >75 on it’s daily RSI amidst redlining momentum. This “overbought” reading (defined as anything >70) is commonly regarded as sign of an imminent bearish reversal: something a glance at ES affirms with few exceptions. But, anyone who has attempted to use
Tag "momentum trading"
By Alex Salomon Happy New Year to everyone!! It’s that time of the year when energy is flowing, so let’s take a look at some charts that appeal to me and offer up some ideas. Not advice, just sharing some trading ideas! Amazon.com (AMZN) The appeal is a break out above the multiple tops. When it happens (call it > $263) then the chart eventually opens up to $290. Just like