Sp hit 1.618 ext. Is the abc completed? i am taking a small long position here with 1800 stop loss
Waiting to open a long position when the 100% extension will be reached at 8770/8750 area. SL at 8450 and first target at 9030 area in order to create a risk free position. Final target is new highs at 10500 area.
The $SPY closes the week just few cents above 196$ which was the last line of defense of the bulls. The good NFP numbers made the $SPY gap up above the daily uptrend line only to meet minor hourly trend line which it failed to pass. Really interesting to see how next Monday will open - A gap down below 196 could mean back to the selling business. A gap up could...
The S&P 500 has retraced to the 76.4% level from the august 8 low to the august 19 high. Current levels suggest a support at the rising TL around 193x.xx level. Resumption of uptrend look possible. May be invalidated if prices closes below TL.
The S&P 500 is still ripping & is still going up. Puttin up shorts is against the trend & can lead to margin calls. But could the S&P500 bullish trend ending soon? It looks like an ascending wedge, a short would be great if the trend changes. All the indicators are still green & it did not broke out of the ascending wedge. But we know.. what goes up will go...
The S&P 500 is still ripping & is still going up. Puttin up shorts is against the trend & can lead to margin calls. But could the S&P500 bullish trend ending soon? It looks like an ascending wedge, a short would be great if the trend changes. All the indicators are still green & it did not broke out of the ascending wedge. But we know.. what goes up will go...
This trade setup is pretty simple and doesn't require any rocket science. McDonald's, or MCD, is a component of the DOW30. MCD has been in a trading range on the weekly chart for quite some time now. We are currently at the bottom of this range, providing an excellent opportunity to get long. I'm using covered calls in this name to get long the stock at as cheap a...
USO has broken it's uptrend a few weeks back, and since has been heading violently lower with no signs of stopping, at least not yet. Not in my eyes. I had a plethora of converging indications, so I've marked them in the chart A - F, and then explained my trade setup. Good luck. A) RSI has broken above the 35 level, but this is likely because it bounced a bit...
Possible support area for the S&P & other markets... Market has been moving in fractals and often flirts with the 100 sma before it pulls up again... Right now we have the morning star pattern in play; which could possibly lead in a rebound.
difficullt to say what the USD is working on.... shown is a bullish scenario, where: - blue wave 3 is 1.62% extension of wave 1 - blue wave 4 a triangle - black 1 reaching the previous 4th wave -black wave 2 retracing 62% of black 1 I stay sidelines and wait if we get a clear 5 waves up as a confirmation of at least shortterm uptrend in USD.
Although there is naked structure of resistance and no confluence, I would like to see some bearish divergence on the RSI to confirm this pattern reversal. Nasdaq have been bullish quite sometime and it is indeed due for pullback to catch a breathe.. This pattern could very well confirm that. Looking to take a target no more than previous resistance now turn...
Based on measured move objectives there are a confluence of potential resistance areas to note just above where price currently resides. Above ~11280 with CONVICTION and ~12500 is the final target.
If you look at previous run up you can observe that it begins around 2003 with a no clear trend, but in the following years it tooks the shape of a rising wedge. The trendlines of this pattern expande, with both trendlines slanted in an upward direction. As the strength of the buyers weakens (exhibited by their inability to take the price higher), the sellers...
With rising global tensions in the Middle East and Eastern Europe the market is starting to turn it's attention to these events. In addition to an appreciating pound, rising gold, oil, and natural gas prices the equity markets are going to have a hard time to justify another run to new all time highs at this point in time.
Intel is meeting all of the requirements of a Bearish Crab pattern . The prediction of the D leg slams right into previous structure of monthly resistance of the wave II cycle at $34.34. Would make for a perfect PRZ. Also, If we could get some divergence on the RSI, that would make for a better confirmation . Let's see where price action takes...
CIX is always a nice counter mesure tool to confirm the direction of the indexes. The market was too overconfident and VIX was at its lowest level. But there are initial signs on a technical level that show clearly the reversal trend i.e VIX may move up, and indexes may move down. STOCH and MACD give the hint. We need to see a confirmation if it is just a...