Investing.com - Financial Markets Worldwide
Get 40% Off
Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious Outperformance
Find Stocks Now

Could We Be Starting A Pattern Of Weak Mondays?

ByWarren Bevan
Published 06/02/2015, 03:04 AM
Updated 07/09/2023, 06:31 AM

“It is not the mountain we conquer but ourselves.” Edmund Hillary


We began the week with some solid weakness just as we did last week and then the strength came back before we ended on a weak note into the close.

A few crack reared their head today as they did the first day of trading last week but they were quickly annulled the very next day so I’d like to see that take place this week as well.

Could be we starting a pattern of weak Mondays?

I did do some late day selling of two stocks since they broke patterns and were going to close below my stop levels so I got out while losses were small.

On the flip-side, we just bought Advaxis Inc (NASDAQ:ADXS) late last week and it’s up 14% today alone.

I tweeted over the weekend that I was seeing some cup and handle patterns and subscribers knew one of those was ADXS.

Cup and handles are very powerful and there are others out there ready to go as well but ADXS moves just fantastic.

This is my third trade in ADXS this year the first being from about $8 to $13 the $14 to $22 or so and now from $24 to who knows where.

This stocks has been our largest gainer this year.

SPY Daily Chart

Not the best day for SPDR S&P 500 (ARCA:SPY) but it is holding above 211 and the 21 day average on a closing basis and both the triangle and wedge patterns should see a resolution higher.

That said, the chart does seem to want lower with more volume on the down days but let’s just see how it plays out.

The PowerShares QQQ Trust Series 1 (NASDAQ:QQQ) closed much better today and there is a bit of divergence still.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.