The S&P 500 has edged up but remains volatile. We made a brief run for relative highs at 4327, but that was swiftly rejected. We appear to have bottomed out at 4214, where we have found support. It appears that we are seeing a slight pivot from this level, but are facing resistance at 4245. Despite hopeful headlines for stocks to rally here in the West, ...
Stagflation means the world cannot afford new iphones. This means profitability will go to shit very soon. In the short run, profits increase due to price increments. But in the long run, these price increments cannot be afforded owing the impending inevitable recession and stagflationary forces mean the price of goods rise faster than wages. Hence, overall...
Stocks made a run for relative highs but still appear to be having trouble with relative highs at 4272, which was the exact level we called out yesterday. This and 4293 remain hard upper bounds for the S&P 500. At the time of this writing, we are seeing a small uptick, but these levels remain upper bounds in what appears to be a bull wedge pattern forming. The...
Trend Analysis The main view of this trade idea is on the 15-Min Chart. It appears that the lows of the correction have been made around the 13000 price level for NASDAQ 100 Index (NAS100). The Index has broken above its short (30-MA), medium (100-MA) and long (200-MA) Simple Moving Averages. There have been positive crossovers between the short and long as well...
The S&P saw a nice rally but the hope soon faded. We were able to break 4272, but rejected 4293. Bulls are encountering steep resistance at multiple levels and the momentum we saw just doesn't seem to be sustained. The Kovach OBV has edged up ever so slightly, but has quickly leveled off. We appear to be finding support at 4243, confirmed by two green...
If gold's price continues to stay elevated and push higher then I believe DRD Gold will push higher too. It has broken out of the trend line and looks set to move higher, which coincides with gold breaking out too. Strikes aside, I think pullbacks will be an opportunity to add to positions. Price targets are highlighted on the chart, with predetermined profit...
Stocks have pivoted off lows, stubbornly refusing to break 4144, and test relative lows at 4122. There is talk that market participants think that the worst is behind us, especially with regard to the Russia/Ukraine war, which shows no sign of resolution yet. We remain unconvinced and still see much risk to the downside. If 4122 does break, we should be clear...
Stocks have opened in the red this week. The S&P 500 has retraced almost the entire range, from 4408 down to 4144, just a few points away from the relative low at 4122. We are currently seeing a nice pivot from that level confirmed by a green triangle on the KRI. However the Kovach OBV is still quite bearish. The key level to watch is 4122. If this fails to...
When the West were cheering Russian sanctions, seems that no one consulted them properly with people that have to make key economic decisions on regular basis like J Powell. For anyone interested I recommend this article www.zerohedge.com . While current continuation into more established bear market might look like any other short term turn to risk off, the...
Stocks have been feeling out the 4300's and low 4400's. We made a brief attempt to test 4400, which was quickly thwarted by 4408. It seems that the war between Russia and Ukraine is still instilling market participants with trepidation, especially after Russian forces attacked a nuclear power plant in Ukraine. The S&P 500 has since rejected highs and tested...
Stocks keep edging up, but remain bounded from above by 4380. We appear to be forming a bull wedge pattern at this level, with several red triangles on the KRI to confirm resistance here. The Kovach OBV is slightly bullish as well, suggesting a bit of a bull divergence. If we break out, we have several levels above to provide resistance, but ultimately, the...
Classic bull flag break on Exxon with a $95 target price.
Stocks have retraced further from relative highs at 4408. It looked like we might have been gearing up for a bull run to test 4440, but geopolitical woes seem to keep weighing, and two red triangles on the KRI suggest that 4408 is providing prohibitive resistance for now. We have since retraced back to 4272, but seem to have good support there. Currently, we...
Stocks have begun to dip off of stepped up efforts with Russia to move in on Ukraine. Russian forces are close to the capital, Kyiv, and markets are reacting. We have strong safe haven inflows, as per bonds and gold, and the S&P 500 has just rejected a relative high at 4389. The Kovach OBV was increasing, but has curved over with the rejection. If we do find...
Stocks have picked up, but the markets have quite a bit to digest. The Ukrainian president is meeting with Russia to discuss terms, which may give the markets some hope to the resolution. However, sanctions are slamming Russian banks and the world is fearing oil supply issues. That being said, we appear to be seeing an inverse head and shoulders pattern forming...
Trend Analysis The main view of this trade idea is on the 15-Min Chart. There appears to be a reverse Head & Shoulders chart pattern setup on the S&P 500 Index. The Left Shoulder is seen around 4250 support level. The Head of the chart pattern setup is observed around the 4120 price level. This is initially seen as the lows of the current S&P 500 Index...
Stocks had a wild ride yesterday. We sold off to 4122, where we found support and retraced the entire move back to 4293, over a hundred points, before retracing a bit to the mid 4200's. This degree of volatility in the stock market makes it difficult to foresee what today or next week has in store, but we may be starting to form a massive inverse head and...
Stocks have plummeted after Russia attacked Ukraine. We were seeing an inverse head and shoulders type pattern forming with a low of about 4272, but strong bear momentum smashed through this level and headed down further into the 4100 handle. Currently, we are finding support at 4122, where a green triangle on the KRI is providing support. After that, there is...