The S&P is already starting to break out, exactly in line with our prediction on the election special last night. The Kovach OBV is registering some strong bull momentum. But avoid FOMO here, and be very mindful of the downside risk. As mentioned, today is election day in the US, but neither side seems poised to accept the results of the election. If this is...
Stocks have caught a lift of lower levels as we anticipated they would. The level 3241 is a nice lower bound for the S&P at this point. It has since rallied, passing by many technical levels in the process, and is currently testing 3329. The next level is 3343. It is likely that we will see a bit of a retracement here. This may be a good place for a short...
Here's a pretty clear head and shoulders that's currently breaking out. With a lot of pressure on the equity markets this week, we may be looking at a lot of bullish momentum on the dollar for the next few weeks.
The stock market (DJI) during the recovery vs. inverse of the Dollar Index DXY, and major currencies Euro EURUSD, Australian dollar AUDUSD, Japanese Yen JPYUSD, Chinese Yuan CNHUSD
Stocks gave us hope yesterday with a nice rally up to 3343, a level we have identified. Unfortunately this was short lived and they were swiftly kicked back to lows 3264. What appeared to be a double bottom for stocks was breached further to establish new lows at 3242. The S&P has since bounced back to 3292. The bloodbath finally seems to be facing some...
Stocks caught a small bounce in the overnight session, likely a relief rally or overnight low liquidity drift. It has since almost fully retraced that small pathetic bounce. The S&P seems due for a relief rally, if not a recovery. There is only so long the stock market will soak in panic from all this coronavirus propaganda. We are currently sitting at support...
Stocks have taken another dive and are finding support currently at the 38.2% Fibonacci level, at 3339. The S&P has been slicing through technical levels without a single sign of a bounce. However this is a strong technical level and if this decline is to give pause, it would be around this level. We are due for a retracement, at least a relief rally, perhaps a...
EURONEXT:CAC is another index losing support right now, which if no recaptured in the upcoming hours may lead to another 10% decline in the upcoming days/weeks.
Last week I warned that it is crucial for XETR:DAX to hold key support level of head and shoulders formation. After it was lost on Monday, index has experienced almost non-stop bleeding, in less than 3 days losing around 8%. As DAX is approaching June lows, it is reasonable to expect some sort of stabilization in the upcoming days. If not, however, things could...
Since June XETR:DAX performance is flat, but index is potentially forming head and shoulders structure, which would be triggered if strong support level (tested once again yesterday) would not be held. In the upcoming days bulls may have the lead, but if in the end DAX dips below yesterday's low, acceleration to the downside may happen fast and probability of...
Stocks caught a lift off 3376. The S&P is likely to play the levels, since it has been ranging since the beginning of September. Don't expect any significant rallies until long after the election. Watch for resistance at 3427, a level which once provided support. The Kovach OBV has been quite bearish but it does look like it is levelling out. It is also...
Hello Fellow Trader! PNV.ASX flag break for possible $2.80 test. breaking out of flag with strong sell off into close. A hold above $2.50 would be a great opportunity to target $2.80. PNV.ASX - Polynovo LTD is an Australian-based medical device company that designs, develops and manufactures dermal regeneration solutions using its patented NovoSorb...
Stocks are feeling out the lower bound of the range they have been establishing for the better part of this month. On the larger scale, they have been ranging in general, waiting for clarification on a number of issues, including the US election. It is likely they will continue to find support in the 3400's unless something major happens. The Kovach OBV is...
TVC:DXY Straight to the point, Dealers are accumulating DXY, going long, extreme long 90%+, while as speculators (large spec/small spec aka RETAIL traders) are extreme short. Clearly we are within a downtrend for DXY, with a potential bear flag in the making. Yet, with the knowledge of dealers being extremely long on the dollar, this could be a pattern of...
Stocks are currently in a small uptrend, but will face resistance from 3460. The Kovach OBV is still very bearish, though it has tapered up ever so gently to reflect the lift in stocks. Unless we see some serious momentum here, stocks are likely to continue to range. The S&P will face some serious resistance at 3500, a technical and psychological level. The...
Coca-Cola published better than expected results. CCEP touched the bottom of what looked like a defined channel with a bounce yesterday. Could the top of this channel become a target now ?
For those with a longer term view. Long.
Plantronics was upgraded by JPM to a target price of $25. They could have benefitted from the COVID lockdown periods and work from home arrangements. Good quality equipment. I like this chart and think it could possibly go to $31 if the $25 target is met. Buy on weakness after a very strong move in recent days. Earnings Do your own homework. This is not trading advice.