Tag "trading setups"

Stock Market Futures Trading Outlook: A Big Break Is Coming

Stock Market Futures Outlook for February 23, 2018 Diminishing directional moves continue as the current price range compresses on the S&P 500.  Traders should expect a strong break soon, but which way seems obscured. Fades are likely but not without some kind of failed bounce attempts. We sit above important support at…

Pandora (P) Earnings Reversal: Stock Pops Then Drops Sharply

Shares of Pandora Internet Radio (P) initially popped 11% to $5.42 yesterday when the company reported an increase in subscription revenue of 63% as well as an increase in subscribers of 25%. On the surface, this appeared to be good news for the stock… However, by the time the market…

Riding The Downward Trend In US Treasuries

Our Elliott wave forecast for treasury bonds continues to hold up well. In June 2017 we described the minor rally during the first part of that year as probably a correction within a new downward trend. Here we chart the two most prominent Elliott wave scenarios for the iShares 20+…

Walmart Stock (WMT) Declines Toward $90 Price Target

Walmart’s online sales growth appears to be slipping and that has been a catalyst in sending the stock price lower. But as I often say, gaps always get closed. And in this case, there’s one open just a bit further below. Let’s look at the chart below and discuss the…

S&P 500 Futures Trading Update: Choppy Action

Stock Market Outlook for February 21, 2018 Hallmarks of mixed momentum are showing up in sideways price action that as traders deal with crosscurrents and divergent ideas about direction. Price resistance on the S&P 500 was challenged but not overcome. The same holds true for key support. Big spikes in either…

Stock Market Futures Trading Update For February 20

Broad Stock Market Outlook for February 20, 2018 The S&P 500 tested price resistance on Friday but could not overcome a key level. Now support levels are being tested as we drift lower into congested areas. The key price region for buyers to hold will be 2705 in mixed momentum. S&P…

S&P 500 Futures Trading Outlook: 2700 Level Looms Large

Broad Stock Market Outlook for February 16, 2018 Buyers remain in control after making a higher low on yesterday’s dip. That dip saw S&P 500 futures hit 2688 – quite near our level of 2684 – and reverse higher. We’ll need to see how well we hold 2697 today as support. Watching…

Cisco Posts Strong Earnings, Stock Set To Rise In 1H 2018

Cisco (CSCO) rose as high as $45.43 in pre-market trading, an increase of 7.9%. The company reported earnings per share of $0.63 and total revenue of $11.89 billion, beating expectations of $0.59 and $11.81 billion respectively. The company’s performance was driven to an extent by sales in the infrastructure platforms…

Baidu (BIDU) Pops On Earnings But Faces Cyclical Headwinds

Baidu (BIDU) reported earnings of $2.29 per share and revenue of $3.6 billion, which beat expectations of $2.05 per share and $3.4 billion. The stock responded with a strong rally in Wednesday trading. As well, analysts from Daiwa Capital and Wells Fargo upgraded the stock to outperform. BIDU was up…

Russell 2000 Elliott Wave Forecast: Higher Target Possible

The recent correction in U.S. stock indices is on par with expectations we described last October. Now we highlight some supports and targets to watch in the iShares Russell 2000 ETF (NYSEArca: IWM) with an overall bullish expectation into summer. Assuming our support levels hold, this serves as a Russell…