Leree123

Leree123 Updated 

Good morning seasoned traders, Ever heard of the Head and Shoulders pattern? Well, depending on which study you consult, it's said to play out between 50-81% of the time. Quite the range, right? But some reliable sources swear by that impressive 81% success rate. Now, let's take a peek at the ES chart. Can you spot what I'm seeing? Yep, potentially a Head and...

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Navigating the intricacies of high-flying momentum stocks can be challenging, especially when they move at an exponential pace. Take SMCI for instance, a prime example of such stocks. Upon examining its chart, I noticed a rising wedge within an uptrend. Typically, these patterns tend to resolve to the downside. However, it's crucial to acknowledge that sometimes...

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Theoretically, we're observing a downtrend coupled with a falling wedge pattern here. However, there's a catch: we're still within the fair value zone, and the Point of Control (POC) sits higher. Now, falling wedges, even amidst a downtrend, often tend to resolve towards the upside. If we follow this pattern, our target could hover around 212-214. Considering...

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Directional decision to be made today. More comments on the chart. Why today? Weekly chart will look ugly if this week bar will close below long term trend.

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RTY just completed 3 measured moves up, bringing price over first important resistance, but will it hols? This is all happening AH and PM, so I would not rule out just another bull trap. Looking at a longer term chart almost all previous correction consisted of 3 waves down. This one we are experiencing just now had only 2 legs, so I'm still looking for a 3rd...

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Risk/reward in short and medium term is not playing in your favour. Copper has been extremely overextended in last 12 months. Current up wave was huge but I think we need to see a correction. Looking at a weekly bars and although new commodity/metals super-cycle has theoretically just begun but we should see a significant declines and profit taking before next leg...

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H&S forming very nicely. If global sentiment remains negative, next stop at 11270.

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So far we are following expected pattern. Breakout below lower bound of ascending channel, entrancement and back to support. If we will break below 2055 with confirmed volumen there is a long free fall ahead of us, with lots of volatility and turning points. It's not going to be a smooth ride down, but direction will be clear.

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For the past several days we have been swinging back and forth in market consolidation. Swing moves were dictated buy headline news coming form all over the place starting at Jackson Hole to G7 summit. But overall thinks did change much. - yield curve inverted again, more permanently then before, - weakening economic data flow to the market form more places -...

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Following FW20 chart I can see a H&S formation. If that will prove to be true next major support level should be found at 2055 (also a recent low on the Wig20 future contracts).

Leree123 Updated 

Just as expected, although with lots of volatility and emotions we are back to square one - 2843 level. Currently market moves according to a international quarrels. China dose that, US does something else and we swing up an down. In addition there are strong worries on German economy, Brexit, Hong Kong and what seems to be the background theme (incredibly...

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And here we are again just below a long term trend line. Weather market is paying attention to this long term trend line or not, we have benn bouncing up and down, below and above levels of this long term uptrend for a while now. But it seams like there is smaller and smaller willingness to rise. Trading volume on SPY yesterday was -27.2% of typical day and...

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For the last few sessions market has been building a stairs. First 2 steps are already there, so most of the market expect investors to start climbing up. As I mentioned yesterday, several countries announced same sort of stimulus for a local economies and that includes China and Germany. Are the incoming news positive? In my opinion they are NOT. Might seem...

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With more countries announcing additional stimulus there is much bigger chance for further leg up. Shorting the market now would be a premature. There might be another leg up to 2964 at least.

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As I mentioned few days ago market did take advantage of both: 38,3% fibo short term oversold conditions and went up to previously indicated range to finish on Friday at 2888. All inline with a plan. Looking at S&P 1H chart there is still room for the market to go up. Problems might come once we reach 2910-2915 where several resistance lines are...

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With German DAX up 0,7% and US market futures in green FW20 shows relative weakness today. Instead of expected recovery to 2110 levels we are slowly sliding lower and lower today. If global sentiment will worsen during the day, further decline would be expected. Otherwise at some point in the afternoon we might see some more buying in play and market return...

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After few days of swing dancing we are back again we are back just above 38,2% fibo. Markets moves according to news and most of the participants seems to be very confused. Mr. P’s tweets lost its power yesterday and market focused at more fundamental important data like state of economy, yields and earning reports. And here is a puzzle. Some of them flash...

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With market closed in Poland yesterday we have missed on lots of mood swings on the global markets just to land in about the same place as Wednesday. Expecting an open around the same levels (2081) +/- 10 pt and based on a global sentiment there is a chance for a small recovery. 2111 should be easily within a reach.