Weekly MACD and STO RSI are showing negative divergences as we see SPX making new highs.
so don't chase tops here.
instead look for pullbacks into 2964 (previous high) now turned support for eventual target of 3108
Sasol once again reaching long term support at 35400 levels and holding. This could be an opportunity if support continues to hold to keep for the longer term. Top of the consolidation range is 48900. If Sasol breaks bottom support, stick to a stop loss.
Recent price action continues to push the index lower. It has nearly completed the head and shoulders pattern. For this pattern to be active, there needs to be follow through on the break of the pattern neckline. I would start getting excited if price can hold below 2786. The head and shoulders pattern comes at a critical point in the structure since price...
So, i was studying the daily/weekly chart of the $SPX and thought to myself: this chart pattern looks familiar to me. I feel like I have seen this before in the not-to-distant past.
1. cruising along at market highs
2. bears take over and we see a ~10% correction
3. bulls resume control and take prices back towards prior highs
4. we fail to...
Recent comments by the federal reserve has served to significantly allay the fears of many investors that any further rate increases will occur in the near future. Further more the recent government shutdown should serve to stunt some of the upcoming economic indicators. As the Fed has stated many times they remain data dependant and if upcoming data disappoints...