We had mentioned last night that 3584 would provide resistance and it did, at least for a short scalp. The S&P tested this, then retraced to 3547, over a 30 point move. Currently it is ranging between these two levels. Unless there is a news event to drive it otherwise, it is likely to remain ranging. If it does break down, however, we could see a lot of...
The inevitable and unrealized danger of a sustained phase in a strengthening US Dollar, burst into reality with the Covid Crash of the S&P 500 SPX and of world equity markets. Now, it will be years before we need to countdown again - whenever the world economy moves the USD to start on another sustained strengthening phase - and the Euro and Japanese Yen JPY...
After the selloff, stocks are gradually tapering up. There is not a lot of momentum here, it is reminiscent of low liquidity drift in the after market. The S&P will face resistance at 3585 and after that there is a big vacuum zone up to 3634. It is highly likely to see more ranging or a further retracement before we breach new highs again. The Fibonacci levels...
Channel breakout and 5070 & 5470 looks like possible targets.
After spiking up dramatically on vaccine news, the S&P retraced the entire move to find support at highs, testing 3584 and 3547. After such a move it is likely to range for a bit, testing current levels and finding footing before the next piece of news ping pongs it elsewhere. The Kovach OBV is still extremely strong, though it's tapering slightly. Although a...
Hi traders: As we know most of the equities have a strong start this week. ACB certainly is one of them. Looking at the price action, the strong bullish impulse is a great sign for further bullish momentum. But, don't jump into rush. Price likely to form a continuation correction here in order to push up the price further. So, patient is key, and observe...
Life healthcare is challenging a 6 year old bear channel on the news of the possible FDA approval of Biogen's Alzheimer's drug. Could be a significant for LCH's NeuraCeq Alzheimer tracer used for diagnosis. Share up strongly and very volatile today. I would wait for a break of the bear channel before entering the share. Anything before that would be pure speculation.
SELL ADANIENT AT SELL ZONE
NASDAQ:NTGR Nice pull back after their earning and now it has broke the recent trend I would like to see if this can take out 33.61 and hold to see if this can get some continuation to the upside back 35.21 at that point I would like to see if that will bring in some nice momentum to take out the recent high
Nice 8000 level break and retest. 9500 and 10000 looks likely from here. Break below 7800 for a stop loss.
Watch for a channel break of around 4550 for two possible targets to open up - 5070 & 5470. Banking sector has been in a consolidation channel since March. Wait for the break.
Long ETH again... It just broke monthly numbers going for 1k. Chart self explanatory. Expect a huge surge up. Getting in before the FIRE
Stocks have finally retraced a bit after tracing the entire range. There was some momentum to this, as measured by the Kovach OBV. This indicator is finally tapered, suggesting that stocks have found good ground near highs and may retrace or range at current levels. A short trade would risk stepping in front of a freight train, but a long trade would be FOMO at...
Possible bull flag forming within a consolidation channel 1800-2100. A break of this flag pattern to the upside would target 2000 and 2100 levels again for a challenge of the top of the channel resistance level again.
A break of 5190 level will open 5500 and 5800 targets. Keep an eye on this one. Wait for the break.
Stocks have absolutely soared. The S&P has blasted through the 3400 handle into the 3500's. It is currently sitting at around 3504, where it should have some support from the psychological 3500 handle. A retracement is definitely overdue, since we rallied almost 300 points this month. Even a 50% retracement to 3379 (referring to October's Fibonacci levels),...
The S&P has whipsawed to the extreme even for this product. It has spanned 100 points in the course of several hours which is a degree of volatility on par with oil. The lack of a clear winner in the US elections is clearly to blame here, but it still seems as though the markets are betting on a Trump victory. We have miles of recounting and lawsuits, as...
No one knows who is going to win the election.... With all this uncertainty with the election, stimulus and the pandemic, why is the Nasdaq up 4%? I have no clue. But as a trader your best tool and friend are charts. Forgot about all the noise for a second and just focus on what is price telling us. Beyond that, all i can say now is follow the major levels. Right...