Intuitive Surgical Hits $393!
The Hoffman Brothers called ISRG at $152 and it ran to $393 for a 158% gain! See what the Hoffman Bros recommend you buy NEXT.
Another week of exciting stuff here at Wall St. Cheat Sheet. Although my Emmy-award winning frien Jon Johnson designed a video intro for us three months ago, we are finally set to launch some videos after Labor Day (that’s what a first child will do). But this week we are proud to announce we have created a formal affiliate relationship with RatioTrading. We strongly believe in the quality of their products, so we have decided to partner with them. We have some additional exciting partnerships on the horizon. Now, onto this week’s Chart Junkie …
QQQQ Weekly with Fibonacci Analysis
Abdel at RatioTrading comments: “As we look at the Q’s you see we’ve made a significant move from the $34.00 level up to around $40.00. It’s no surprise we went right to the 1.618Fibonacci extension of the previous leg. Keep an eye out to see if we begin to consolidate and possibly pull back some. If we do pull back, expect to see some support in the 50% to 61.8% retracement zone. Most importantly, be sure you have a PLAN, a set of RULES, and you follow them with discipline!” (For more world-class Fibonacci trading advice, click here to visit our affiliate partners at RatioTrading)
M2 Volatility and S&P500 Losses
This is an interesting chart which shows the relationship between M2 money supply volatility and S&P500 losses. Seems like there’s a strong correlation. (Source: The Precision Report)
The Breakdown in Gold
Our new resident Technical Analysis Professor Corey Rosenbloom from Afraid to Trade teaches us how savvy traders like us could have used the ‘Three Push Divergence Reversal Pattern’ to have predicted the so-called “surprise” breakdown in gold. (Source: Afraid to Trade)
Newsweek Cover vs. Economic Indicators
Is the Newsweek cover “The Recession is Over” a contrary indicator? (Source: The Big Picture)
Do you have a dank chart worthy of a Chart Junkie? If so, click here to email us the link. (Note: DO NOT send us files. We will not open the email!)
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