DAX Resistance The DAX is currently in a very strong resistance zone. In fact many of the largest stock indices are also in the same position please also see my trade on the FTSE (Global Equities Turn-Around) It has touched this level 2 other times this year, we have seen several retracements on the dax this year and this seems to be where it stops the...
S&P Futures are seeing a large sell-off, after putting in a double-top through a longer-term wedge pattern. Current price action has broke the large, ascending trend line first created in in 2012; subsequently, that was the last year the S&P saw a 10+% correction. Reality sucks when key data points deteriorate. Housing data is continuing its downward path, while...
For those familiar with Elliott Wave analysis, a 5-3 wave sequence indicates the direction of the immediate trend. Its a little premature at the moment to identify a clear 5 down/3 up wave sequence, but as traders we do need to bring a little anticipation because by the time we know for sure what the waves are doing, the move is over. Using fibonacci...
Like most of the major equities Indices are in very bullish mode since 2009 low and it seems nothing could go wrong. All the "Fundamentals" point to many profitable years ahead. In fact I have hear a presentation from notable commentator suggesting 2009 will is a generational low ie will not be revisited ever in his life time. I think he is in his fifties. He...
Could Facebook stock drop to $50??? It might be too early to tell, but if price action doesn't make a new swing high above C leg, then this pattern may have high probably of completing. Bearish divergence on the RSI extending from July 13'. A GrandSuper Cycle wave 3 confirming the down trend which peaked at price $72.73. $FB is now showing signs of a bullish...
Intel is meeting all of the requirements of a Bearish Crab pattern . The prediction of the D leg slams right into previous structure of monthly resistance of the wave II cycle at $34.34. Would make for a perfect PRZ. Also, If we could get some divergence on the RSI, that would make for a better confirmation . Let's see where price action takes...
US30 longterm outlook on the weekly chart. Bearish butterfly. Strong support around 14023 on the X leg. Target 1 will be at 14436 at the 23% fib level. if the bears can break structure on X, then roll stops and look forward to target 2 at 12841 on the 38% fib level. Trade at your own risk.