Flood of US economic data after the long weekend. Greece is in serious bankruptcy 'do-do' so watch out.
US data today may sway markets. We are headed lower in the PM. Watch for a possible bounce at the support.
SPY is still holding the 50dma, and making higher highs and so has the other indices like the IWM, QQQ and DIA. that being said, the Biotech Sector (IBB) is the only sector that one should be weary of, as it has been making lower lows in the intermediate term. It seems as though there is a bit of sector rotation going on. I remain bullish on all the indices, but...
TSLA rallied off 203.50 (April 17, 2015 higher low), following a 7-1/2 month falling trendline break as shown on the daily chart, to return above the 200 day moving average, posting new 2-1/2 month highs. Bullish MACD suggests there is scope for further upside towards the 225.48 resistance level (February 5, 2015 lower high). Clearing there would accelerate the...
IWM has been trending higher within a 6-week rising wedge (March 10, 2015 low and March 23, 2015 high) as shown on the daily chart. The latest rebound from the 123.82 low (April 17, 2015) looks to test the 127.13 record high (April 15, 2015). Clearance above there would extend the broad uptrend towards the Fibonacci projection at 128.03 (119.83-126.32 from...
QQQ rebounded off 105.55 (April 17, 2015 low) to test the 108.38 range high (April 13, 2015) just beneath 7-week triangle resistance (March 2, 2015 high and March 26, 2015 low). The daily MACD remains bullish, suggesting scope for further upside. If bulls manage to overcome 108.38/108.41 (April 21, 2015 high) and the triangle upper bounds, that would signal a...
I've been waiting for this nearly two weak, two weeks ago I found out there was a gap at 82 area. Now, the is filled already, also, the chart looks a little lit exhausted to run up. The M top could be exited here. To be honest, I could be wrong. But, anyway 1st target 79.
right now we have two gaps here, one in 210 area , another in 211.72. Gaps will be filled eventually, let's see next week.
The MTPredictor TS3 is long in the QQQ and the DIA. The 100% initial risk line has been reached so stops to break even.
4-4 Monday Morning Flush? If so? Good as there are multiple supports just below and any one of them can act as the one the markets react off of. So at the least watch those levels for stabilization. Notice what is sitting at the blue support lines? Key Fibonacci retracement zones of the 38.2% and 50% So for now call those levels multiple zones of support in...
The QQQ has reached it's all time high monthly close near 109.50 and corresponding to important Fibonacci projections levels. We are exepcting a corrective down wave 4 towards 90. Only a new high on a weekly close above 109.50 would invalidate this bearish scenario.
3-16 Is Google in the process of building out a 5 waves up affair? Sure looks like it. IF IF IF true then the current trend as defined by the green uptrend channel is up. Notice how this issue basically tagged trend channel support and is pulling away from it? That's where a stop can be placed, a break of the pink line. Notice how within that overall uptrend...
In this week's Weekly Markets Analysis I cover $SPY, $QQQ and $IWM. The last two shows strength over the $SPY, what does it mean? Who is giving us a hint regarding the markets direction? Is it the $SPY weakness or the $QQQ and $IWM strength? Check out this week's newsletter to view these analyses and more: marketzone.tumblr.com Subscribe to the...
3-10 In keeping with my theme today of using support to guide your entries? Much like PANW this issue is sporting a similar set up brewing. For those who like to buy stocks in uptrends pulling back to support? You need only ask one question. Where is it? Look no further than the green trend line. Should this issue tag those zones that is where you want to...
10 Reasons to be short the S&P 500 (and the Dow and Nasdaq): 1. Close below 34 EMA 2. Completed Head & Shoulders pattern 3. Close below the December high 4. "Falling off the roof pattern" - The market is said to climb up the ladder, the ladder is then removed and the market falls down much more quickly then it went up. The advance took about 4 1/2 months. The...
The 2 charts look eerily similar don't they? This is not a prediction, only an interesting observation. In the short term I think the Nasdaq first goes to the 4000 level and then it retests the 2000 high and "pulls a silver". Will it go down from the 5000, 6000 or 10,000 level only time, the price pattern and investor psychology will tell. For the moment I am...
The 2 charts look eerily similar don't they? This is not a prediction, only an interesting observation. In the short term I think the Nasdaq first goes to the 4000 level and then it retests the 2000 high and "pulls a silver". Will it go down from the 5000, 6000 or 10,000 level only time, the price pattern and investor psychology will tell. For the moment I am...