Friday Afternoon Thoughts

These are trades I will possibly take next week. I will update Sunday night or Monday. In general, I do not like to open up positions right before the weekend. Especially on a holiday with light volume. I believe there is a lot of chart painting by the big boys.

Apple looks like it wants to break out of the symmetrical triangle.

I already own lots of Apple so I will not trade it, but it looks like the NASDAQ in generally wants to go higher.

AMD is about to break out to the upside.

I will trade Home Depot on a break out of the rectangle in either direction.

A close above $145 and IBB looks set to advance to the $165 level.

ITB is making a H&S failure pattern.

MU has broken out of its four year rectangle. I will open a long position Monday depending on the action.

The NASDAQ 100 completed a ascending triangle pattern. This is one of my favorites. I will probably open up a long position Sunday night.

The USD has broken the 92 level. I will probably open a short position Sunday night.

The Canadian Dollar is getting close to a breakout to the upside.