Out of the 3 indexes ETFs I cover in this week's Weekly Markets Analysis, $IWM is definitely the strongest. The ETF bounced from the support zone mentioned last week and rallied back into the broken trading channel. Near 125-126 it will meet the top of its trading channel and the PRZ of a bearish Crab Read more about this trading scenario and more in this...
Given the large gains seen over the last two days, there could be support in the cards for leveraged minor ETFs following profit taking. NUGT, Direxion Daily Gold Miners, is the 3x leverage of the Market Vectors Gold Miners ETF (GDX). Price action is heavily to the downside, reaching support at $9.11 – forming a triple-bottom on the two-hour chart. Price visited...
Slo Stoch crossed positive volume is up the Russell and the rest of the market is selling off. A Bear ETF makes sense to me.
Russia has been a hot bed of geopolitical issues through out 2014. However, the Russian stock market has bounced by over 17% year to date(as measured by the RSX etf). Fundamentals Since Russia entered into a cease fire with Ukraine the sails have been in stock markets wind. Even with the major positive movement the Russian ETF, RSX is still at a 5 year low. The...
Crude oil is making new grounds with it soon to come with its reverse pull back, same thing happened in 2009 although there is a possibility that crude can slide to support at 40$. either way i will be easing my way into a positions using the ETF UWTI which is priced very cheaply at 3$ a share. also a big shout out to @Ricker for showing me UWTI
The GLD has seen inflows increase since the SNB debacle, up 1.57 percent today. If anything was learned last week when the Swiss National Bank (SNB) unequivocally shocked the markets is, gold is the ultimate central bank hedge. Gold has always been a go to during times of uncertainty, but it is the simplest way to hedge away currency and counter-party risk; and...
With all the turmoil in the political scene of Hong Kong has anyone been watching the stock market there? Price is now in the vicinity of prior support/resistance and a failure to hold means price will fall another 9% to the next level of horizontal support. The current candle, incomplete as it is, is an bullish inverted hammer which needs confirmation. Without...
The over all market remains strong. The NFP number is out on Friday and could pop us into the 2100 area. For now the path of least resistance is up. Be smart with your risk.
Hello Traders The past few weeks have been very bullish. We have bounced off of the long term uptrend line 3 times now, thus confirming an uptrend. RSI is looking very bullish too, resembling the market at the end of May prior to the massive push to $690 In terms of fundamental analysis well that couldn't be better! The silk road 2.0 auction of the DRP stash...
Bit misleading headline - absolute 2008 support is to be reached...but it is quite close to it. With this the ETF traded with the highest ever volume for 2 weeks now. The price formed a small bottom for the moment not only on the weekly, but daily and monthly charts as well. It is still a risky trade, but the following points make it an attractive trade 1) The...
USO has sky dived from $120 (off the chart), on July 2008, to as low as $23 in Feb 2009, signaling a very clear bearish trend. However from July 2009 until now, price has been consolidating sideways between $42 and $30, from July 2009 to June 2012. Subsequently, the sideways range narrowed to $39.40 and $30, from June 2012 up till now. All in all this sideways...
Egypt Index ETF Market Vectors (EGPT) weekly chart suggests a very bullish scenario for the market. Let's take a walk along its history first to draw a vivid picture of its future. The index declined sharply after its inception due to political turmoil in Egypt, moving from approximately 90.00 to 37.00. Then a rebound to 64.00 followed by another decline to...
EGPT is looking strong on the weekly chart with a breakout of from recent consolidation. A similar breakout at the beginning of this year lead higher with strong momentum. Similar pattern showing this breakout on strength. Measured move of the recent consolidation measures about $8. Takes the target right into the $81.50 Gap. Stop is under last weeks lows which...
TQQQ broke through the two previously established levels of support and past our focus line, we're hoping for some more weakness before the getting in for the bounce.
My Elliott Count for the Greece ETF is looking ready for an upcoming bull run. I count us near the end of a wave ii, in an extended wave 3. As all us EW chartists know, this is an ideal spot for entering long, or buying call options. However, Here is a BEARISH scenario, where A=C and we are just starting the wave down.... This appears to be in sync with the...
USO continues to form a rising wedge which will ultimately create a larger selloff. Until the larger pattern forms, price's range will tighten in the pattern which is now poised for a selloff. The combination of the spinning top candlestick and the stochastic rolling over will bring lower prices in the near term but not for long as the distance between the...
The moderate rally in gold prices and GLD should not be interpreted as a rally per se but GLD forming a small continuation pattern such as a flag or pennant. The stochastic is in the process or rallying up but lost likely will remain under the vale of 50 as this is more sideways consolidation than rallying. Once this consolidation is complete GLD will make...
In a chart similar to SPY, QQQ has reached trendline resistance and need to consolidate before another leg higher is possible. When prices move quickly vertical they need to take a moment and "cool off" before another wave of buyers can move in and push prices higher. A candlestick pattern detailing the selloff hasn't appeared yet as price is still higher but...