This could be seen as either a channel or an inverted head and shoulders. The inverted head and shoulders neckline is 6140. If that is breached targets 6550 and 6839 comes into play. That is roughly 10% upside potential. If this is considered a channel break the target would be higher. My approach here will be the less risky option.
Very high chance US markets (S&P500) will collapse from here (2910-2920) ... expected decline anywhere from 20-50%
First trend line (on smaller time frame) broken. Now rejecting near smaller time frame trend start.
Rejecting at trend start on larger time frame after losing trend Dec 2018
Smaller time frame short possible!
May precipitate bear market with...
Here is what I am waiting for:
If I get a better deal on the UK or FR indices I'll trade them rather than the DAX.
I prefer the Dow to the S&P because the spreads are much better, the hours, the noise, only 30 constituant, > 100 yo famous name,...
- Diverging volume (only converging with price rise during reactionary bounce through TR's EQ)
- Overall decreasing volume and candle spread
- RSI falling through support
- Stoch RSI double top in overbought and will print bearish cross if price settles here or lower for the week
- Current doji candle may be signalling an imminent reversal
Here we come again with extraodinary forecast, as usual. We update our long-term view on DAX 30 Index.
Our last year suggestion was a large H&S pattern. But it had one weak moment - Dow Jones has not completed all time extension target, while all other major indexes, such as DAX, NASDAQ already have done it.
We've made a forecast on DJIA few...
From fake moves comes fast moves. If this turns out to be a fake break we can expect to test of upper resistance. If this turns out to be a retest of current resistance line (previous support), we could reach some bottom targets.
Lululemon Athletica beat both earnings and revenue forecasts handily and announced a $500 million buyback. Analysts were bullish after its earnings report, with Oppenheimer calling it one of the fastest growing and healthiest brands in the consumer sector. Oppenheimer, Credit Suisse and JPMorgan have issued price targets ranging from $190 to $197. LULU...
=> Here we have a different view for French Equities as those who are following our telegram will already know. The case can be made that we are in a very large IVth wave of the V wave pattern since post 2008 crisis.
=> From a technical perspective this looks like a very large correction and should not continue its decline further than 38.2% (4525.x)
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From a PA standpoint EUR/USD is looking bullish. Took our trendline yesterday along with 200-MA and OTE of previous leg-up while retesting our bullish OB.
Referring to the picture in the comments section; A pretty clean mirror.
As a target I'd make use of 1.137 as overall OTE and...