Trading Profitably

#StockMarket #Trading using #CUE on #MetaStock & #TradeStation combining #TechnicalAnalsis with #IndustyRotation, #FundamentalAnalsis and #SeasonalityAnalysis.

[Trading Profitably @SuperiorProfit]

Across the board, selling accelerated.

[Trading Profitably @SuperiorProfit]

$BAC, about which I tweeted earlier, made a new low of the day.

5-min chart.

[Trading Profitably @SuperiorProfit]

How to look for low-risk short setups in stocks at the very top? Here is a possible example if the Breakout short setup confirms at the close.

$BAC

I will also want the industry to remain weak at the close. So far, the Diversified Banks industry is weak in CUE Edge, and 100% of peer stocks are down in CUE Vital.

[Trading Profitably @SuperiorProfit]

Market breadth (as seen from CUE Elite) turned negative across the board.

Fed rate decision is at 2 PM EST.

That may increase volatility even more.

[Trading Profitably @SuperiorProfit]

1) Most of the sector-industry-stocks are up.

However, $QQQ, $SPY, and $IWM are down.

2) 67% of the stocks in the S&P 1500 are above the mid-Bollinger Band. That is bullish.

3) More than 27% are above the upper-Bollinger Band. That is becoming so overbought that a pullback is likely.

Some people would say this Bucket Analysis works like clockwork. Will it work this time?

We will find out soon enough.

I don't bet against it.

[Trading Profitably @SuperiorProfit]

In the weekend video, I shared the buy idea in $IP.

It was up yesterday, Monday.

Today, it opened with a gap-up and is up more than 5% now.

There is a resistance trendline nearby. That may be a reasonable target.

CUE Edge's Bucket Analysis shows that the market is getting overbought.

If I bought the stock, I would make sure not to let this profitable trade turn into a loss in case the stock reverses.

[Trading Profitably @SuperiorProfit]

$CELH

360 analysis is the traders' forum.

https://t.co/o6cctAzKCy

[Trading Profitably @SuperiorProfit]

Though $QQQ is up, $INTC is down. It does not seem to have recovered after the recent earnings.

30-5-5 min charts.

[Trading Profitably @SuperiorProfit]

$FUTU has weekly trendline support. Daily trendline support and a possible Flow setup in the daily if it closes at the current or better price.

In terms of candle patterns, it looks to have a Doji Best Friend.

[Trading Profitably @SuperiorProfit]

The weekend market recap video is now live on YouTube.

https://t.co/IJRkGH7UHu

Last week's trade closed with a profit. That was a shorting idea, a 360-degree trade, not only a technical trade. That is probably why it closed with a profit in an indecisive market.

This week I share another 360-degree trade idea with detailed analysis across industry, fundamentals, and technicals. It is a buying idea in an undervalued, dividend-paying stock that insiders are buying. It is in one of the strongest industries that is sharply bucking the market trend. And it has a technical Breakout buy setup with a candlestick buy pattern and massive bullish momentum.

Won't you be interested in that?

[Trading Profitably @SuperiorProfit]

What is not to like in the chart pattern of $T?

Plus, it pays a 4.8% dividend yield, and funds are accumulating.

Isn't that something that may interest you?

[Trading Profitably @SuperiorProfit]

Yesterday, $CDE was showing a possible Breakout buy setup during the day. However, that did not confirm at/near the close. One would stand aside.

And that would be a good decision, as $CDE fell with the market today.

That again shows the importance of discipline in trading.

[Trading Profitably @SuperiorProfit]

Market breadth (internal health) is extremely bearish today.

Considering that, it is amazing that multiple ETFs ($RSP, $IWM, $DIA) did not breach the Early Range Low pivot (marked 1, 2, 3 respectively) on the 10-min charts.

On the right are $NASDAQ and $NYSE. Adv-Dec is very negative. Up-Down Vol continues to tilt down.

A recovery from such weak breadth may be difficult (nothing is impossible, though in the market).

[Trading Profitably @SuperiorProfit]

Trading profitably is not an end in itself for me. It is a means to be free from endless compulsions. To slow down and soak in the beautiful life unfolding around me every day.

https://t.co/8S3IbiOqiy

[Trading Profitably @SuperiorProfit]

Gold mining is one of the strongest industries today. It is up by a massive 5+%.

$CDE has high earnings and revenue growth (it is a Box stock too). It has short squeeze potential. 100% of peer stocks are up.

The stock is moving up from an oversold condition with strong bullish momentum. Yesterday it created a spinning top best friend, and today it is breaking trendline resistance after a gap-up open.

[Trading Profitably @SuperiorProfit]

I am comfortable buying low and shorting the top.

Here is an example of the latter.

Two days ago, $CBU, a regional bank stock, displayed the unique Headwind reversal signal at the very top.

Because that candle had a lower tail, I waited to see if the low breached. It did so, and right then I shared it as a potential shorting candidate.

Today, it is giving a Breakout short setup as the stock is falling below the trendline support.

I like it when my shorting candidate falls like that.

[Trading Profitably @SuperiorProfit]

$PFE

After making a higher high on the daily chart, it pulled back and stopped right where one would expect.

It is up today from multiple support lines.

Pays almost a 7% dividend yield and is undervalued.

80% of peer stocks are up.

Its industry is one of the strongest and most accelerating.

I consider such stocks candidates for buying and for short puts (cash-secured puts) as well.

[Trading Profitably @SuperiorProfit]

In the weekend video, I shared only one trading idea, a shorting idea on $RYAAY.

The stock had a Gap + Breakdown short setup. (1)

Today it gapped down again. It is below the trendline support. (2).

If it regains the trendline support (2), it may be a valid decision to close the trade with a nice profit in one day.

If it decisively closes below the trendline support (2), one may decide whether to hold a partial or full position.

Such exit decisions may be easier if you check out its industry peers and industry score too. You would do that anyway, wouldn't you?