Following on from our recent videos where we talked about our negative bias to the market, this view has been reinforced by the weekly close below the key support at 4195. The market has a top on it which gives a target of approx. 4000, but that for me would be a minimum as I suspect that it will head back towards the 55-month ma at 3787. Disclaimer: The...
It appears to resemble a base, but it might also be interpreted as a rising wedge. One represents a potential reversal pattern, while the other suggests a continuation pattern. These interpretations can lead to conflicting perspectives. So, how do you make a decision? I personally prefer to blend moving averages and the Directional Movement Index (DMI) to...
I go through my analysis process on the SPX using the DMI (directional movement index) and the 9-period RSI together with the 55 and 200-day moving averages. I give a read on what I am currently watching and what levels. Disclaimer: The information posted on Trading View is for informative purposes and is not intended to constitute advice in any form,...
The market has recently bounced off its 200-week moving average and the outlook remains bullish longer term. We highlight the upside potential and take a closer look at the 12-year up channel. Disclaimer: The information posted on Trading View is for informative purposes and is not intended to constitute advice in any form, including but not limited to...
No change in our view, our outlook stays negative while below the 1.2345 short-term downtrend and this is reinforced by the long-term downtrend from 2007 at 1.3075. Disclaimer: The information posted on Trading View is for informative purposes and is not intended to constitute advice in any form, including but not limited to investment, accounting, tax, legal or...
But more importantly it has negated what was looking like a potential top. For a valid top, you should not really see the market trade back above it 'neckline' and if it does - it calls into question the validity of the top. Does this mean the market has bounced off its 200-day ma and is about to resume its up move?? Possibly BUT it has some resistance to get...
Some time ago we looked at this and identified a longer term base, which offered potential for a move to 100.00+. The market recently peaked at 95.05 and has seen a strong correction lower, which has halted ahead of the 81.05 50% retracement. We regard this now as the short term floor for the market and maintain our longer term a bullish bias.
A massive US non-farm showed the economy added 336k jobs, however attacks on Israel overshadow much market discussion as any escalation in this conflict is likely to trigger a risk-off sentiment. There is no significant data scheduled for today, but we should keep an eye on the upcoming Inflation data set to be released on Tuesday. For now, let's focus on the...
We are in new lows for the year for EUR/USD and we highlight the next key supports. Non-farm payrolls are out on Friday, and we have already seen quite a big move, we suggest that tightening up stops ahead of this number may not be a bad idea. Disclaimer: The information posted on Trading View is for informative purposes and is not intended to constitute advice...
I think this will be a crucial week for the S+P where we should find out if the top pattern will detonate (we will need a close below the 4195 to look really bearish) OR if the market is going to continue to bounce off the base of its channel and resume its up move! I have outlined the critical levels to watch. Disclaimer: The information posted on Trading View...
But from our point of view it shouldn't be - the 151.94 2022 high and the 38.2% retracement (of the entire move down from the `982 peak to the 2011 trough) at 153.12 are expected to act as tougher obstacles. Disclaimer: The information posted on Trading View is for informative purposes and is not intended to constitute advice in any form, including but not...
The S+P 500 is heading to the base of a one-year channel at 4205 and this is reinforced by the 200-day ma at 4195 and the February 2023 high at the same level. ONLY a close below here will trigger another strong move lower to initially the 4050/00 zone and potentially the 3763 55-month ma. So, the market is approaching some big old levels of support and we think...
The Federal Reserve's hawkish stance has led to a significant rise in US Treasury yields, reaching levels not seen in several years. This has, in turn, bolstered the US Dollar while putting pressure on US stock markets. Later this week, investors will closely monitor the release of US core PCE data, seeking additional insights into the country's inflation...
We previously have discussed when markets fail at the top of a trend channel they tend to move to the base of the channel, we saw that move at the end of July and our negative bias has remained unchanged since then. We have now closed below a 4-month uptrend and our attention is centred on the base of that channel now coming in around 4220. Disclaimer: The...
We've observed a bearish key day reversal on the daily USD/SEK chart. This pattern typically forms when the market reaches both a new high and a new low compared to the previous day's trading range and closes below the previous day's low. It's crucial to note that there should be a previous upward movement in the market for this pattern to be significant. In...
We have some important events on the horizon for the British Pound (Sterling). Tomorrow, we'll receive the latest inflation numbers, followed by the Bank of England (BOE) meeting on Thursday. In terms of inflation, it's expected to stay elevated due to higher petrol prices. Additionally, there's an anticipation of another 25-basis-point interest rate hike during...
We have US inflation on Wednesday and the ECB decision later this week and we take a look at the key nearby supports and resistances to watch.
A combination of sideways trading over a 6-week period, a mild buy signal on the DMI and the fact that price is consolidating above its 55-day ma all suggests to us that the market is trying to base. We have cloud resistance that the market is pushing quite hard into, and should we see a close above 4.5042, the recent high it should be well placed for further...