In this post I'd like to share some of the best ways I know of to stay on the right side of the long-term trend. I will stick to technical indicators on price action and the S&P 500, or this discussion could go on way too long. I employ the monthly chart for long-term timing; its perspective is broad enough to show the big picture yet nimble enough to capture the...
S&P500 Forecast-ed Move for this week.
ES 12-14 reached 2030 completing the forecast-ed move published at beginning of the week. There is good probability for the market to reach the second boundary 2048-50 today or early next week. So sell stop loss can be moved now below 2028-30 level until the next target is reached either today or next week.
For the short...
This is getting unsustainable, I don't see it going anywhere but down over the next 3 months.
Could this be the bagholder's last ride after the end of QE?
Just when they thought that the end of QE isn't going to affect stocks at all, it'll hit them even harder by surprise.
I'm adding more short position here as we move on...
DAX is in the process of a short term relief rally to upside. The levels of resistance are defined on the weekly chart. Bullish divergence has been seen on the daily RSI. Looking for the RSI on 90 minute to test the 45-period Moving average to go long.
3 TARGETS ON DAX INDEX :
1) 8500 (already reached)
- middle of channel 2009 low and 2014 high
- 23,6% fibonacci retracement from 2009 low
2) 8100
- important highs of 2007
- 38,2% fibonacci retracement from 2011 low
3) 7600 (very important support for Long Term trend)
- low trendline of channel 2009 low and 2014 high
- 50% fibonacci...
Trading near the channel and the neckline resistance, Short term trend is down and any recovery may face sell offs again. Yes there is short covering or fresh buying seen from lower levels but I feel with smaller stops this trade is worth taking a chance.
Regards,
SP
CapitalTA
Waiting to open a long position when the 100% extension will be reached at 8770/8750 area.
SL at 8450 and first target at 9030 area in order to create a risk free position. Final target is new highs at 10500 area.
The $SPY closes the week just few cents above 196$ which was the last line of defense of the bulls.
The good NFP numbers made the $SPY gap up above the daily uptrend line only to meet minor hourly trend line which it failed to pass.
Really interesting to see how next Monday will open - A gap down below 196 could mean back to the selling business. A gap up could...
The S&P 500 has retraced to the 76.4% level from the august 8 low to the august 19 high. Current levels suggest a support at the rising TL around 193x.xx level. Resumption of uptrend look possible. May be invalidated if prices closes below TL.
The S&P 500 is still ripping & is still going up. Puttin up shorts is
against the trend & can lead to margin calls. But could the S&P500 bullish trend ending soon?
It looks like an ascending wedge, a short would be great if the trend changes. All the indicators are still
green & it did not broke out of the ascending wedge.
But we know.. what goes up will go...
The S&P 500 is still ripping & is still going up. Puttin up shorts is
against the trend & can lead to margin calls. But could the S&P500 bullish trend ending soon?
It looks like an ascending wedge, a short would be great if the trend changes. All the indicators are still
green & it did not broke out of the ascending wedge.
But we know.. what goes up will go...
This trade setup is pretty simple and doesn't require any rocket science. McDonald's, or MCD, is a component of the DOW30. MCD has been in a trading range on the weekly chart for quite some time now. We are currently at the bottom of this range, providing an excellent opportunity to get long. I'm using covered calls in this name to get long the stock at as cheap a...
USO has broken it's uptrend a few weeks back, and since has been heading violently lower with no signs of stopping, at least not yet. Not in my eyes. I had a plethora of converging indications, so I've marked them in the chart A - F, and then explained my trade setup. Good luck.
A) RSI has broken above the 35 level, but this is likely because it bounced a bit...
Possible support area for the S&P & other markets...
Market has been moving in fractals and often flirts with the 100 sma before it pulls up again...
Right now we have the morning star pattern in play; which could possibly lead in a rebound.
