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Trading Homework for Trade-date Tuesday August 20th 2019

A “quiet” day in the markets yesterday (Monday) with all the stock indicies staging a quiet rally towards resistance. On most other days it would be called a volatile day but compared to last week’s fireworks it just felt quiet. I guess it is August after-all…

Commentary

  • GC: Pushing down to the lower end of its range after sell divs
  • SI: Similar to gold but a little sloppier
  • HG: Feels like a bear flag is forming even though we’re in the middle of a range
  • ZB: Sell divergences working off – sideways to slightly down.
  • LC: Short rallies
  • NG: Overbought in a downtrend – look for shorting opportunities
  • HO: 3 day triangle breakout formation
  • ES/NQ/NK/FESX: At resistance levels where prices tumbled last week. Holding a short bias here until this level is definitely penetrated.
  • BP: Forming daily bear flag; Grail sale above.
  • NE1: This has been on an extended run to the downside and it continued today.
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