No longer overbought but looks awful bearish. Interesting that DAX went down, and the US indices are gonna open flat (small caps green). Strange.
FDAX broke out to new all time high despite the lack of any good news. Europe is acting super strange, overbought on RSI and MFI but not sure that even matters, lol. Expecting a gap up Monday because fundamentals and indicators apparently don't matter anymore, lol. (Yes, the indicators show Europe should go down and US should gap down, but the Euros don't seem to care.)
DAX had an excellent run since our previous buy signal on March 21 (see chart below) that hit its target yesterday: The index is right now moments away from hitting the 16300 Resistance, which is the All Time High (ATH) of November 19 2021. The long-term pattern since the end of October 2022 has been a Channel Up and within it, three Megaphone patterns have...
Looks like MFI is headed towards overbought. Maybe it retests ATH. Pretty bullish for the gap tomorrow (for US indices). I'm not planning on going long though.
Hello Traders:) I expect a morning rebound after the market opens to the red line levels. Hence, I will look for an opening of shorts with targets marked with green lines. The first level of short is the upper limit of the market profile for both Thursday and Friday. This level has been tested many times. The second level of potential short play is the upper...
Indicators are neutral going into ECB meeting tomorrow morning. No definitive gap direction for open tomorrow, regardless of what happens when the Village Idiot speaks in 25 mint=utes
Indicators are neutral, but chart formation does look like teh highlighted area. Doesn;t really matter because gap direction will depend on MSFT and GOOG earnings tonight.
Just noticed that FDAX daily MFI hit overbought and rolled over, I guess that's why it finally had a down day for once, lol. Based on what happened EOD today, there are still traders expecting the Euros to pump and gap the US market up, but that might be a dangerous assumption at this point. My 3 hr indicators are neutral for tomorrow though.
DAX crossed under the MA50 (4h) today for the first time since Marhc 27th. This isn't remotely close to a sell signal yet as inside this Channel Up pattern that started in November, the confirmed sell has been when the RSI (4h) crossed into the oversold region under 30.00. Trading Plan: 1. Buy as long as the RSI (4h) is over 30.00. 2. Sell if the RSI crosses...
Looks like a melt up, MFI is neutral. No indication of gap direction. Gotta assume the gap will depend on TSLA earnings after market close.
RSI hit overbought with MFI divergence but this could be a melt up I think gap direction tomorrow will depend more on NFLX earnings. TSLA tomorrow afternoon. NQ is oversold but staying out until after TSLA reports I think. For those that don;t follow me, I just use FDAX to determine gap direction for the US market, not actively trading Euro stocks. Really no...
We have stated before that DAX has been trading inside a five month Channel Up, getting a comfortable buy at the bottom of the pattern. With the help of the 1D MA100, the price has been rising for the past month, trading for more than 2 weeks over the 1D MA50 as well with the 1D technicals now on deep green values (RSI = 61.499, MACD = 135.500, ADX = 52.061). We...
Hit overbought on RSI and MFI this morning and rolled over. Yet another reason why I'm bearish for Monday, I might add some more puts EOD. Looks like it's just gonna do a whipsaw finish today because Friday is Ponzi 401k payday. No numbers coming out Monday, so I'm expecting gap direction to be the same as Euro market direction
MFI hit overbought, RSI is not there yet. Looks like the Euros are the ones pumping the US market back to green. I think the US market will trade on news regardless. Fed meeting minutes at 2pm, PPI and unemployment tomorrow, retail Friday.
In this update we review the recent price action in the #DAX futures contract and identify the next high probability trading opportunity and price objectives to target
DAX is trading on a Rising Wedge pattern inside a Channel Up, whose 4H RSI just hit the 1 month HL trendline. The 1D technicals remain bullish (RSI = 58.718, MACD = 105.900, ADX = 38.304) hence the long term trend upwards. As long as the 4H MA50 holds, our target remains the top of the Rising Wedge (TP = 16,100). ## If you like our free content follow our...
Went overbought on RSI again with MFI divergence. I think it goes down tomorrow morning and causes the US market to gap down. It may just be a back test of the old resistance though In any case, US indices are not oversold yet, so no reason to buy the dip until tomorrow.
Well, like I said yesterday (and many times before) the Euros determine the gap direction. They pumped before market opened and we got that big gap up. FDAX MFI is now overbought though and German CPI release is tomorrow morning. high probability of a gap down tomorrow.