Courtesy for this opportunity goes to @FOXofLA and I immediately noticed the agreement with my US30 intermarket correlation chart.
The market is still very undecided and causing sideways movement most of the time with sudden strong momentum when one of the leading competing parties is not paying attention. It is therefore also. and including worldwide CB...
Following the US30 reaching to the support of the wedge around 25,050-25,100 after my last idea, US30 continued rise back to the 25800 resistance, forming a triple top - within the same day an immediate reaction came when it broke back below the neckline around 25,600 area as a result of reaching the descending trend line resistance converged with the triple top...
Clear double top indicated across time frames around 26,300-26,400, clearly seen on 1h chart as well as 4h.
Neck line break following a 800 dollar drop below 25,500 with a daily close.
Following a neck line break the expected drop is equal to the distance between neckline to tops, meaning 800.
Target stands on 24,600-800 for now.
The fundamentals remain...
Simple idea, the market is very overbought within an extension which generally means a strong correction; should begin expansion after a floor is made around 23,000; unless the markets go for a steeper drop. In this case the Weekly chart may turn into a giant ABC pattern directed towards 13-15k.
Will we see a second attempt to cross the 26k level?
Will we continue to sideways shimmy up past 27000 with dead volume and sideways bearishness?
It’s entirely possible. 😔
As explained previously, I'm holding on to my shorts (I have positions from 25500 -23500) up until 27kish levels - and I'll continue to buy more! Why?
Two reasons... Firstly. Because I...
I would like to share my opinion on the SPY market. I really don't understand where so much confidence comes from.
I think INSIDERS and BIG PLAYERS are going to open SHORT trades. And because they need a counterparty they must persuade lots of traders to feel the SPY will rise up to heaven.
And how to achieve it? Just show a few green candles on...
The price action looking weak as it confirmed a Lower High (LH) and now it may continue the downward trend and will fall further down. The price action may reach to following targets.
T1- 1900 (1:1)
T2- 1600 (2:1)
SL - 2360
Gold we have a great and potential opportunity. We could now go on sale, keeping a correct management of the capital, since it is very possible that it will reach the 1800s. Or wait. But the fall is imminent, we have strong resistance which combined with our patterns, should send the gold down.
Gold might fall down!
Look to sell after a breakout it's made. Please check a candlestickpattern like a bearish engulfing or a shooting star, after the confirmation you can enter in the transaction.
You can see that the volume of buyers dropped wich means a big return might come. Be very careful!
If you support this ideea, feel free to comment below...
AMEX:REK Though it may be a little early to tell, we might just might see a buyer's market emerging in real estate in the next few months to come.
Although, not a popular ETF, this short ProShares ETF seeks a return that is -1x of the Dow Jones U.S. Real Estate Index. I know it's probably not most pleasing though to think the real estate market could go down,...
TESLA is one of the greatest and most innovative companies ever. None the less they are over valued and there are tons of red flags within the company. Now is time to short.
Overall I am bullish on the Cyber Semi's , Solar City, Model Y. But the corona virus will put this company back at fair value if not discounted value.
Some critical areas to watch are...
We have an incredible opportunity to short the stocks of Apple. Just look at how distinct are the divergences between the price and oscillators, i believe 2020 will be a tough year for Apple. We can expect a decline all the way down to $150. Someone is going to make a big money.
All key fundies are highlighting a downturn for this company. Currently priced in the 50s actual value should be around the 15 - 20 range
EPS, PEG, Earnings Yields and Return on Capital rates of change all slowing.
If current Macro outlook continues this a must short as its so overvalued.
Earnings coming up in Jan which i fully anticipate them...