SBUX - Chart Link- major target is that 9 EMA on this CCI bungie bounce setup

been a nice trade!

IAG - Chart Link - lock down gains

You can see that others faded earlier

USD and 10 Year Yield ramp

SPXU - Chart Link- here's the SPXU chart to go along with that SPX 60 min. Maybe a hedge with a very tight stop if you are holding tons of longs you don't wish to exit right now

AVGO - Chart Link- had a big run from those Oct lows, and part of the AI stuff, semiconductor.

anyway it's been consolidating for a while in this pattern, one to keep an eye on

Michigan Consumer Sentiment For May 67.4 Vs 76.0 Est.; 77.2 Prior

$SPX - Chart Link- I know maybe not a popular thing to consider, but we do have some pretty good MACD divergence on the MACD via the 60 min chart, and a possible wave V. That wave v could be wave V of 3 but you would expect a wave 4 pullback once this wave 3 is completed. Now whether this plays out now or we push further to test the March highs first and then pullback is not certain but I at least need to point out this divergence and wave V and to monitor price action

BLFS - Chart Link - put on watchlist last night as potential long (discussed)

here's the SPX chart with the past NYSI TICK spike levels - price cleared a bunch of recent levels yesterday

the next BIG leve is at 5251, notice the bold tick magenta dotted line, the reason that line is thicker than the white ones is because the TICK spiked over 1500 on that day back in March, so it's a big level - which is basically back to the March highs 

but, there is NOTHING until that level, big air pocket so to speak

STNG - Chart Link-

YINN - Chart Link-

DSL - Chart Link pays about a 10.5% monthly dividend, ex dividend is May 15th

chart wise has a clean overhead resistance

here's an article on it

https://www.forbes.com/sites/brettowens/2024/05/09/this-105-monthly-dividend-payer-was-dirt-cheap-last-week/?sh=2faa22703aeb 

Raise stops on TSM here 

NQ moved into target range overnight...lock down gains here and trail stops (big level)

Raise stops on GDX, SILJ, NEM (all miners)

Thursday Newsletter

I like that coil

weekly KISS charts in tables, hell of gains on some of those like NVDA, META , AVGO which never exited, but when some of those went long we didn't have the KISS  systems tablweees live, NVDA weekly went long on 10/22/22, so it's been holding for 1.5 years, META and AVGO went long last spring while the systems were live 

https://breakpointtrades.com/sts_weekly/?search=BPT_basket 

the weekly KISS indexes of course stayed put, price rebounded off those ATR's just above the STS stops

no, and why would you think they would?  really the only systems we might see trigger is the breakout system (60 Stochastic short a maybe if we saw a reversal now, but will be negated soon, read below

almost all the mean reversion systems systems need to have price either below the 200 day MA or some major MA downtrending along with price, then they look to short bounces

the 60 Stochastic systems could short while price is up if that stochastic reverses off the underside of 80% - that one theoretically is possible as 60 Stochastic is at 79%, HOWEVER price needs to reverse down right from here to trigger

the exhaustion shorts can trigger in strong markets, but again they are extremely difficult to trigger price needs to be uptrending for a long period of time above short term MA's - which we we saw the last exhaustion short trigger in late March after such an extended run from the Oct lows. But since that time price recycled went below the 50 day MA etc, so those conditions are reset - you have to be trading above the 8 day MA for like 30 bars at least, price has been above the 8 MA for 5 bars only