I already took a profit on my last position. I am adding to my position here. Dear old China should take us to our target.
FXI looks to retest July’s spike low at 38.88 which is also near the 200 week moving average currently at 38.69. Below there lies the 36.72 support (September 29, 2014 low) near the 76.4% retracement of the 32.58/52.85 rise. 41.55 should cap near-term bounces. Outlook: Short term: bearish Long term: bearish
DO NOT LIKE what I saw. I believe it is heading towards 0.618 Fib ($45 level). Maybe wrong though.
As of today's close, MACD turned negative, RSI trend line appears to be broken. Might be a good idea to take some profit off the table if they are not getting better in coming days (need be confirmed by short term price trend change).
GOOGL has been range bound since posting the 615.04 record high (February 24, 2014), forming a 14-month falling channel as shown on the weekly chart. 529.00 serves as the immediate support (April 13, 2015 low) which may hold dips. Back above 553.27 (April 13, 2015 weekly high) is needed to suggest basing and extend strength towards 583.20 (March 2, 2015 high)...
XLB has been holding a 6-month rising trendline (from October 13, 2014 low). If bulls manage to reclaim 50.38 (April 13, 2015 range high), that would suggest there is scope for further bullish momentum towards 51.01 (November 17, 2014 range peak) ahead of 52.22 (February 23, 2015 YTD high). The 49.38/48.59 support zone (which houses the the rising trendline) needs...
XLE formed a 5-month base over 71.70 on breaking above the 82.43 range ceiling (February 16, 2015), triggering further bullish momentum towards the next resistance levels including 85.97 (March 10, 2014 higher low) then 89.22 (November 17, 2014 lower high). The immediate support levels are 80.30 (21 week moving average) and 79.21 (April 13, 2015, near 200 week...
FXI rallied strongly to post a 7-year high at 52.56 (April 16, 2015) near the 61.8% retracement of the 73.11/19.35 fall, before consolidating. The Technical indicators remains positive (on all time frames), reinforcing the bullish price action. Immediate support lies at 47.88 (21 day moving average, not shown on chart). Below rests 44.96 (April 1, 2015 low, near...
Held up pretty well today. However I will not be surprised if it retraces to 0.618 fib level. But it will be very impressive if it goes higher from there.
Still living in the rising wedge, with diverged RSI and MACD. Unless a break out, any gain will be limited, plus increased downturn risk.
FXI pulled back logically last week and should hit pink support and rebound. If pink support breaks, door is open to $36 level around the red support line. Note trend is still up but we need the pink support to hold.
Price is still moving higher but momentum is waning. In the short term price may correct but no structural risk exists at this time
FXI/EEM ration still stuck in a range. But there is a bullish 3MA and 5 MA cross over, ratio is above 10 month MA, RSI appears to have formed an up channel. We will see if it can break the upper range in the coming months.
When you look at ALTERNATIVES to the S&P500 for the last 10-years, these were two of them. Look at how well they have done. Haven't you heard enough trash-talking about China and Gold? Isn't it amazing that we forget how well these markets have performed RELATIVE TO the S&P500? The S&P500 is up 80% in 10 years (excluding dividends of roughly 2% on average). ...
Consolidating the last three years inside this massive triangle, now building possible IH&S. This demand zone supported very well through good volume, every time price reached the area. Cheers Panos