Latest Market Insights
Natural Gas $UNG was a weekly breakout trade that we initiated long back on October 7th, 2016.
We took our entry as price surged above multi-month resistance of 8.75 and closed strongly on the week and saw a nice expansion in range.
We had some initial follow through the next week, but not enough to tag our first profit target which was roughly $10.
Markets are kicking off the week with strength, fueled by a flurry of weekend M&A activity. We have gaps higher across the major indices and we even have the $QQQs potentially closing at new all time highs.
Below are some trade ideas from my bullish consolidation scans that look actionable for breakouts if near-term market strength continues.
The chart of twitter is a mess over the past month.
We have 3 large gaps, all unfilled due to the flurry of recent buyout rumors, causing large swings and turning the stock into a gamblers paradise.
What’s interesting from a technical perspective at the close of the day on Friday is the potential for us to walk into a bullish island reversal on Monday.