December 18, 2011

The $TLT Daily/ Weekly Butterfly

 Weekly Butterfly. AB=CD Completes at 146.50, which also coincides with the D leg of this Butterfly pattern completing at the 1.618 extension. Looking to short the TLT at 145-146. Still a ways out. 

Charts of Interest - $SPY $QQQ $ALXN $V $PANL $QCOR $FFIV $HANS

Spy - Possibly forming right shoulder. Would not be confirmed until neckline is broken. Plenty of time.

QQQ Range

ALXN - Pocket pivot move as it cleared 10,21, and 50 day moving averages. Still with in this range.

CATM - On watch, with alerts set at a break of this descending trend line.

EOG- Held 50d, which is a good sign. Still watching the 105 area.

Cat testing the lower end of its range. Needs to hold. 

HANS - Pocket pivot move on Friday. Long entry thru 97.00

A couple different looks at PANL. Butterfly and descending wedge 

STMP - Descending Wedge. On the weekly, has held 21wk moving average so far. 

V - Holding up and basing. Will add thru highs. 

VMW - Possible Gartley long entry setting up here.