MY JOURNAL FOR MONDAY – NOVEMBER 22, 2021
NEWS, BREAKOUTS, MOMENTUM PLAYS & BOTTOMS
The Sexy Six | Greg Schnell, CMT | ospreystrategic.org (11.21.21)
The market had some real weird underpinnings this past week. The Nasdaq 100 and the $SPX closed up, but the $NDX outperformance was almost a complete disconnect from the underlying market of stocks. A stellar jump of 2.3% was the best major index in the world. But the dichotomy of what is going on under the surface really is amazing. The McClellan Oscillator is positive above zero and negative below. The top panel ($NASI) adds up the daily readings on the $NAMO. The middle panel plummeted in strength going deeply negative and almost to the worst readings level all in a week. But the select group of the Nasdaq 100 rose. Very interesting. – READ MORE
Nearly a Decade of Experience in the Financial Markets
Greg Schnell, CMT, MFTA, is a Senior Technical Analyst at StockCharts.com specializing in intermarket and commodities analysis. He is also the co-author of Stock Charts For Dummies (Wiley, 2018). Based in Calgary, Greg is a board member of the Canadian Society of Technical Analysts (CSTA) and recent winner of the CSTA’s Technical Analyst of the Year. He is an active member of both the CMT Association and the International Federation of Technical Analysts. Explore Greg Schnell Special Pricing Save $363.00! – LEARN MORE
BREAKOUTS, MOMENTUM PLAYS, & BOTTOMS
SEV.V – Spectra7 Microsystems Inc.
Spectra7 is threatening to breakout above horizontal resistance with a surge in volume.
CS.TO – Capstone Mining Corp.
Capstone Mining is set up near the apex of a multi-month continuation triangle as price action pushes up against the upper trendline of the pattern. Watch for a breakout.
CMMC.TO – Copper Mountain Mining Corp.
Copper Mountain Mining is setting up near the apex of a giant consolidation / continuation triangle. Watch for a price move back towards the upper trendline of the pattern followed by a breakout.
ORL.TO – Orocobre Ltd.
Orocobre is setting up near the apex of a multi-month continuation triangle.
AWLI.CA – Ameriwest Lithium Inc.
Ameriwest Lithium appears to be setting up below a horizontal resistance line with an interesting volume profile. Watch for a breakout.
TKO.TO – Taseko Mines Ltd.
Taseko Mines is threatening to breakout above horizontal resistance and from a handle (or bull flag) that is located off the right side of a cup base.
MOMENTUM ALERT SIGNALS
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