Trade Set up – Given the underlying trend, and at this very juncture, we feel it is hard to be short the USD. That said, with traders likely to defend the YTD high at 96.98, we feel waiting for a daily close through this resistance level makes sense as it would be sending a fairly powerful signal that the bullish trend is set to continue. On this development we...
I made a chart indicating when presidential/mid-term elections take place and the winners of such. Mid-term years are usually solid, and I think democrats taking the house in 2018 could benefit the stock market, as corporate tax cuts would likely remain, while trade war advances would likely not continue. Mostly just wanted to provide a chart of the last 40ish...
The YTD Regression Trend shows that we are near the bottom for this pre-election bear market. I suspect for the market to remain nominally flat over the next week until after the US mid-term elections.
As expected, the Dow, when compared with the SPX and the NASDAQ to name two, presents the most bullish of the bunch. The recent drop was severe, but no long-term damage has been done. And while the SP500 and NASDAQ closed red last week, the DJIA closed green. This is telling us that though profit-taking has set in, bullish fundamentals underpin this...
The week before last gave us a shooting star/doji. The following week resulted in a pull-back that has everyone scared. For now, we held lower parallel support. However, I'm leaning on the prospect of more downside for now. The markets are telling us something: there is clear concern over the mid-term elections. If Democrats win, I'm sure that would pour water...
Good ole Oct. 1st - signifies the start of Q4, and with BTC it has been the start of upward movement and a bullish run. Is the start of this years fiscal Q4 going to mimic the last few years? Will there be one last selloff before we start running? It happens fast... this time be prepared and don't be afraid to take some profits ;)
Using multiple swings: 04/17 (yellow), 04/27 (green), 05/11 (blue), 05/28 (red) to highest high made yesterday 06/14, the fib levels seem to overlap.
Here is a monthly chart of the Dow when Obama and Trump took office. Use this chart as a reference in your political arguments when defending Trump or Obama.
Mexican elections will be held on 1st July and candidate Lopez Obrador is the front runner. According to Lopez Obrador: "Venezuelan democracy is better than the Mexican one." "We will revert PEMEX privatization. Oil belongs to the people." It is unknown if Lopez Obrador would convert Mexico in the next Venezuela or not, but he is already spooking...
Keeps pushing lower with a potential head and shoulder pattern on the daily chart.
Incumbent National party won today, but not a clear majority. Status quo means stability and good for markets. I see uptrend in FX:NZDUSD . Markets do not want a change (Labor Party), whenever snap polls surveys showed Labor Party ahead, look at Bloomberg graphic showing negative reactions! Key Labor policies shows divergence, and potentially bad for...
After yesterday UK election, we saw a sell off on GBPUSD. What's next? WAIT!! AND DO NOTHING! We will be waiting for more confirmation to scale in on this position. Having said that, that's our methodology and approach towards the market. What's important is you need to have your own trading plan and follow it to engage the market. Share with me your...
GBPUSD Price is testing an important zone if U.K has hung parliament price can drop all the way down to 1.24
The UK elections are coming and GBPUSD is starting to feel the pressure. GBPUSD broke below a daily channel and closed below the Fast daily MA line last week. As long as GBPUSD stays below 1.3 the direction is down (in my opinion). The next Major Buy Zone for GBPUSD is 1.26 and that can be the level in which GBPUSD will turn back higher and climb towards the...
Watch for long. It should try to retest that trendline in the next couple days. Elections coming up too.
A good bearish candle shows the reaction of the EUR, one day after Emmanuel Macron won the presidential elections in France in 2017.