The Distribution Schematic #2, by Richard Wyckoff:
UK100 is currently in Phase D and has already done a Bearish SFP, which indicates a possible downtrend. This seems like a nice example of the Distribution Schematic #2 and also has a fundamental background due to #Brexit. Rest is Risk Management.
INDEX:FTSEMIB is clearly breaking out a perfect triangle pattern, and this is a confirmation that a long position would be the best opportunity for a long term investment for this year... I think the best would be:
Open a long position
Keeping it up for one year max
Closing the position before (10 days before min) the falling wave that comes after the triangle...
The Italian political scene
seems to be calming down
with some kind of agreement
between 5-Star movement and
the Democratic Party.
Traders would very much like to
see the cautious DP back in power
as they would likely defuse the tension
between Italy and Brussles.
We like continued upside today, with the
US being away for Labour Day.
Buy intraday dips ahead of...
European Indices trading lower across the board,
with the FTSE MIB under-performing due to
Banking sector as BTP yields rise sharply. Italy
Dep PM Salvini is calling for a General Election
Sell on pullbacks towards the most recent support
zone, looking for 19600s.
The risk of a battle between the EU and Italy is looming after the EU signalled the
launch of an EDP on the deviation of Italy’s 2018 fiscal figures from the EU targets.
Statements from the Italian government suggest Italy will not stand down.
Sell at market, since we have broken through the continuation point!
Italian markets came under strong pressure yesterday as
Bloomberg ran a story that the EUCommission June 5th will
consider a disciplinary procedure over Italy’s failure to rein
in debt. An Excessive deficit Procedure is a lengthy process,
but if the story is true, the standoff between Italy and the
EU that we had expected in the autumn could start much
Autogrill ha annunciato che attraverso la controllata HMSHost sarà il fornitore esclusivo per i prossimi 5 anni dei servizi di food&beverage nelle lounge aeroportuali di American Airlines in tutto il Nord America, per un totale di 51 lounge in 25 aeroporti (24 negli Stati Uniti e 1 in Canada), incluse l’American’s Flagship Lounge e le lounge Flagship First Dining...
Bloomberg reported that Italian PM Conte accused Salvini of bringing down the coalition government in an end to a bad week for the Italian bond market. Meanwhile ramped up tension on the global trade front should continue to be a drag on investor sentiment.
Technically we have dropped through our first target and selling continues. We favour continuation breaks...
Italy's stock market is the weakling in Europe due to the risk-off sentiment and on the back of the downward revision of growth
in 2019 from 0.2% to 0.1% and a deficit in 2020 above 3%. The 10Y spread to Germany widened.
We have broken through a key daily sup/res level.
Momentum is negative.
Consider adding shorts on a pullback.
The FTSE MIB has consolidated the double WXY correction of Minor grade that we were following. The longer-term scenario has affirmed the conclusion of the bearish movement started in May 2018 and the structure that seems to be forming is that of a triangle ABCDE. Therefore the main scenario is that of a triple correction of WXYXZ Minor grade, agreeding with the...
Compared to the last update, the first scenario seems to have been confirmed, which represented Minor X wave as an expanding triangle. The first Intermediate 4 wave target we had set was reached (0.5 Intermediate 3 retracement and Minor W 0.786 extension). Minor Y wave is still in construction and seems to be forming like a zig zag. Wave B Minute seems to have...
The FTSEMIB remains in its phase of correction of the long-term bearish trend. In particular, Wave 4 Intermediate would seem to be forming as a double three (double correction) WXY of Minor degree. The latter after finishing the W as flat expanded, has given way to the X, which at the moment seems to have completed as a double three (WXY) Minute grade. The latter...
A long black candle associated to increased volumes and the widening out of the Bollinger Bands give us a clear indication about the
next direction downwards.
A closure below the horizontal support will be devastating. 1st target at 1 euro. There is much more room to see the stock tumbling down
below 1 Euro
Thank you guys,