$STLD 6% upmove from 122.50 to 130 Technicals : 1. Monthly - bullish 2. Weekly - bullish 3. Daily - RSI Positive Reverse Divergence Trade setup : 1. Entry : 122.50 2. Stop Loss : 119.75 3. Risk : 2.75 points 4. Target : 130 5. Profit points : 7.5 points 6. R/R : 2.75 : 7.5 = 1:3
🖼 Daily Technical Picture 📈 ➤ I’m no Trading God, but was today’s price action the Last Supper for the Bulls? Is the free flow of sweet wine about to be cut-off? Not sure if this reference was blasphemous, I plead for mercy. ➤ Equities opened the trading day aggressively higher but by the end of day it was a complete 180° reversal of fortune. What do I make of...
After my daily analysis of the DJIA, my analyses suggests that us30 is going to decline by 1.8-2% in the next 27hours Tell me what you think down below..
🖼 Daily Technical Picture 📈 ➤ Equities failed to keep the upward momentum. Today, it started lower and finished even lower. Despite that, the price action was not really meaningful. In technical speak, today was an example of an "inside" day, where all the price action was situated within the shadows of yesterday's large bullish bar. Therefore, we are...
Dow Jones (DJI) got rejected yesterday following Powell's speech as the Resistance Zone of 34300 - 34370 held (August 16 and January 15 Highs respectively), we expect it to turn neutral for a while and trade sideways within the rough 33640 - 34180 Scalping Range illustrated on the chart. The 4H MA50 (blue trend-line) has assumed the role of the Pivot and the 4H...
🖼 Daily Technical Picture 📈 ➤ Equities went full Bull mode today despite some intra-day volatility. It looks like it wants to surpass the recent high. ➤ There's really only one thing that could stop it and that is the super overextended nature of this Bullish move since the Oct 2022 bottom. Perhaps it is not really "stoppable". It may just be some lateral price...
🖼 Daily Technical Picture 📈 ➤ Equities opened lower and ended from where it started. The more speculate stocks selling off more than the Bluechips. This was sufficient to get me into the Bearish mode. ➤ S&P500 is now trading below the double resistance line. I see the potential for it to drop some more. I'm using a small amount of capital to take a short...
🖼 Daily Technical Picture 📈 ➤ Equities are at an interesting juncture that should provide good trading opportunities. I can smell it. ➤ If we look at the $SPY chart of the S&P500 equity index, we can see that the price is in the midst of testing resistance levels. These resistance lines are probably the most solid since the start of the rally. I therefore...
NFP or not, I am taking this setup every single time. This is my bread & butter with a very high hit rate. Aggressive plosions here all day with a respectful SL.
Although the sentiment is incredibly bearish and the world expects the stock market to underperform, it has left thin order books, low liquidity and volume, and an overly emotional state of the market. Considering how certain most analysts, traders, and investors are that a recession is already here, most are in cash, short, or sidelined. This state of the market...
Apple has seen a massive reversal on earnings. A clear rejection off the 50 Weekly Moving Average has been observed. The sin Curve of the major moving average is starting to slope down with force and looks poised to start the next down leg with this rejection.
🖼 Daily Technical Picture 📈 ➤ ...almost but not yet. There are still some short-term resistance levels to surpass. However, the momentum is there. *After-hours sell-off as I write due to earning reports from Apple, Google etc. ➤ The Dow30 Bluechip stocks are really being left behind in this latter part of the rally. Or we could say the NASDAQ is just catching up...
🖼 Daily Technical Picture 📈 ➤ February started off with a bang as equity participants responded favourably to the US interest rate decision. Notable was the strong performance of the NASDAQ and the flat performance in the Bluechip Dow 30. ➤ Price in the S&P500 equity index has reached key resistance levels. It will be interesting to see how prices react. So far...
🖼 Daily Technical Picture 📈 ➤ Equities finished strongly to end an outstanding month. The enthusiasm is palpable, however, I'm a skeptic of market conditions for two reasons: i) Many believe we are back in a bull market. I think this is pre-mature. A monthly close above 411.73 will change my mind. The market did not achieve this just yet. The current level of...
The Dow Jones Industrial Average (DJI) has made a strong medium-term rise since our buy signal 12 days ago: Still within the High Volatility region, hence neutral long-term, the price is rising today after finding Support within the 4H MA50 (blue trend-line) and 4H MA200 (orange trend-line). The medium-term pattern is a Triangle, the short-term a Channel...
Confused Triangle has formed on the Daily. We are in the apex, so awaiting a breakout. First 7>21>200 - Bullish RSI >50 coming down (mixed) Target up 36,288 Target down 31,559 This clearly shows the confusion with the index as well as the fundamentals with the uncertainty with interest and inflation rates. The Fed is having a meeting tomorrow to discuss the...
🖼 Daily Technical Picture 📈 ➤ After Friday's weak close, prices acted even weaker by a sharp fall on Monday. Well...not really a sharp fall...more of a standard-sized fall given the jump in volatility post 2021. In any case, the Bears have made the first move in this important week of economic announcements. What response will the Bulls have on interest rate...
🖼 Daily Technical Picture 📈 ➤ We've come to the end of January and it is going to be one of the busiest of the year. Interest rate decision, major earnings and key economic data combine. Add on to the important technical levels for the S&P500, you can see why we really are at the business end of things. ➤ There is time for the S&P500 to close above the monthly...