Short Term Trading Weekend Lounge: 26-29 Oct, page-45

Happy Weekend All.

Slim pickings this week. Ran through a bunch of scans (pretty much every one) but as we have all seen market is "Lost in Space" atm. USD strength holding gold back, then we get small bounce on the DOW for another lower high and the world rejoices because they think the world is saved and consequentially dump gold only to realise the DOW has no follow through then to pick up gold again.

Firstly the DOW weekly FWIW- Clearly a double top and therefore we expect a pull back to recover before having another run at it. However from what I can see atm the volume is increasing on the down bars. Clearly the MACD has also just started in negative territory so Im not expecting things to sort themselves just yet.



Anyway Looking at charts that may offer a trade even if it is short lived due too the whiplash nature atm.

This is probably the strongest chart I could find for a trend atm. Below is the weekly. Has clearly performed pretty well over the last two weeks which have generally been some of the worst in a while.



Then on to daily charts for potential trades

AYS Ive zoomed this out because I will defer to the experts however to my mind that could be Bullish accumulation?
Eitherway it looks to be offering a shorter term trade as well.


Here is the hourly AYS which potentially suggest bullish divergence about to happen.




BLA based on from what Ive read on the HC stock page seems to be well hated. Understandable considering the battering it has taken. Either way that inside Bar on the daily is a sign of a potential reversal. I also like the sneaky breakdown below the previous support zone and the possible double bottom retest.


RHP looking for a reversal. My slight concern is the lack of volume atm. If it heads to positive MACD I would expect an uplift in volume if the trend is going to be sustained.



Anyways thats about it.

Have a good one and stay safe.