Watch the Fibonacci retracement levels on the way down for taking profits.
Since we failed to take out the recent 2150 highs during the last rally a Stage Four Decline looks possible. Historically this would lead to a deeper retracement than stages 1-3 possibly to the 1730 area.
With all the upper resistance and troubles in the world its possible that SPY revisits some of these lower gaps. Nice evening star doji indicates a move down 71% of the time.
Some of micros explaining the macros. There are fundamental reasons for technical moves.
Very similar price action at these three locations.
Long term ascending triangle forming on USO with resistance the same as targets. This is a long term trade suitable for LEAPS or commons and may take months to complete.
I do this for a few equities to remind myself of the why and wherefore of price change. If you have any additions or i missed anything let me know.
I entered BBRY at the lod for a move back to the gap and beyond.
I rode out some of the downside and held fast because I knew the slide was based on events other than fundamentals and knew that Apple would bounce. $100.00 seems likely sooner than later.
Chevron just broke 133 and halves according to my trading plan AB=CD.
Watch price action to see if this pattern firms up.
Watch and see if the C-D leg forms and if so then buy when price hits D and confirms an upswing.
All trend lines are cloned. The 3 drive happens often at market tops and bottoms.
I had long calls and dumped them a few months back. Out of the cloud and away!
Based on my ZIG Renko MT4 indicators I expect a large move to the downside before this reaches parity with the dollar.
Ichimoku Cloud look. A bit early perhaps but something to watch off the lows perhaps.
I'm not much of a chartist but I know a stock heading for a gap fill when I see one. Good news coverage from The Street as well: www.thestreet.com