Our Live Trading Rooms Bring Together Thousands of Traders from Around the World!
HIMS Post-Earnings Update-- Opportunity Knocks?: Monday morning, ahead of Earnings, this was my final comment about the technical setup heading into the after-market report:HIMS also reports Earnings after today's close. The fact that it is going into Earnings below its 7/30/26 prior significant low of 24.24 is a very negative position that warns us that HIMS had better knock the cover off the ball in a blemish-free report and conference call to avert 20-21-- the next important support plateau from where a meaningful upside reversal and sustainable rally might emerge.
Recently, we had reason to watch for a possible bounce in the SPX after some pretty negative price action the week before. We had key symmetry price support in the 7341-7363 area, and the actual low was made directly in the zone at 7350 on November 5. What followed was a healthy rally of 302.41 so far from that support. On our daily chart we also had some timing for a possible bounce at the actual low.Note, however, that we are currently at some very important resistance on the way up on this weekly chart.
In Case You Missed It…SPX rose approximately 185 points this week, after a major sell-off the prior week. Volume for the week was about average, and volume has been trending up noticeably since October. Below is the weekly chart of SPX. Notice that we are still in the lower sideways range from this summer and that we have only reached the 23.6% retracement from the high:This is now the fourth week in a row that we closed short gamma.
Our Technical Analysts Share Their Expertise 24/7 on a Vast Range of Markets!
