Stocks broke down from the bull channel pattern exactly when we said they would to exactly the level we identified (brushes dirt off shoulders). We noted the bull channel and lackluster momentum. Also we noted the vacuum zone below to 3624. The Kovach OBV has registered this huge dip, but has since levelled off. Current levels will provide resistance, but...
Stocks found support and resistance exactly at the levels we have identified. The S&P has followed the course identified by our bull wedge pattern. Currently it looks like we may be ready to break down from this pattern. Note the Kovach OBV has dropped precipitously. The S&P has breached the lower bound of the channel pattern multiple times, and has not seen...
Bullish looking formation forming on KAP. A 340 neckline break could open 440 and 500 targets. Keep an eye on the 340 level in coming days.
On a weekly chart Coronation looks like it's breaking back into the longer term channel of 4900-3600. If it can manage to break out of this channel convincingly then 6000 could become a target. Neutral until then.
Aspen broke what looks like a bull flag around the 12900 level. Possible targets for this flag breakout is 13330 & 14670
Stocks caught a lift a few points above 3658, the level we called out in the last report. The S&P 500 still appears to be maintaining its bull channel pattern as it finally found resistance again at 3708, which is the extension of the trendline which forms the upper bound. Expect this to provide resistance. The level 3676 will provide support, if it retraces at...
As discussed in our reports yesterday, stocks got batted down from highs. This was highly likely due to the fact that there really wasn't a clear spike of momentum to take us up definitively to higher levels. Additionally, the bull wedge we thought we saw mutated into somewhat of a bull channel. If the pattern continues, we will see support at 3658, which is...
EURCHF H4 - Still holding onto support here. Lets see where this H4 closes seeing as we are so close to support and also not too long to wait. Quite a nice structure here, horizonal support zone held for many weeks now. High R setup. which is why we have been following so profusely, just haven't had the execution opportunity yet.
EOH had a good run lately and is looking good to test pervious highs. 800 could come up sometime in the future once again. The market likes to test previously tested areas like the 800 level.
The breakout in the S&P looks really meager. It broke through highs, but what was supposed to be a big burst of momentum in a bull wedge breakout was just a sputter. It looks like now we are seeing a bull channel. The lack of conviction here is a bit concerning. Bull channels tend to break to the downside and can easily retrace 50% of their height. If that is...
Stocks keep teasing us with this bull wedge breakout. They are testing the upper bound 3677 at the time of this writing. If they do manage to breakout, we can expect 3700 (a psychological level) and 3750 (a fibonacci extension) to provide resistance. The S&P is really drawing out this breakout, so we may anticipate another dip before it finally goes. It is not...
SET: BEC Long thesis. Wyckoff Bottoming + Breakout on volume over 200day EMA. Possibly wait for retest or enter feeler trade
Stocks keep ranging. Our analysis remains the same. The strategy here is to wait for some momentum to break out of this bull wedge pattern we have been holding for weeks. Patience will pay off. If you are holding positions, it is wise to keep them, but entering right now may be entering out of fomo, unless you expect an imminent breakout and have tight stops. ...
Looks like a downtrend break and up against some resistance at 6130 levels. If that levels break we could see some upside on this beaten down share.
Following the 2-year bull market in Precious Metals, Gold made it's way from 1200$ to new ATH at 2075$ per oz on spot in 2020, with pretty much clear print of HH and HL structure. If we look at the 1W XAUUSD chart there is nothing bearish about it, even with the resent month's sell-off, which in my opinion, due to be over. In market conditions like this, it's...
Stocks are just 5 points away from all time highs. The S&P is hugging the upper bound of the bull wedge pattern we have been following for the second week now. The Kovach OBV appears to be building up pressure for a breakout. Additionally, we have a huge steepening in the yield curve, between the 3 year and the 10 year in particular. Stocks are due for a...
Nedbank appears to be consolidating in a very narrow flag formation after a very good run in November. Watch for a flag breakout in the coming weeks. No position. Targets will become clearer when we break this flag pattern to the upside.
Nice cup and handle breakout on the 3630 neckline. That breakout was also tested and held. Targets 4800 and 5300 on this one as it currently stands. If we break below 3600 on a daily chart, consider implementing a stop loss.