Trend lines drawn from the 3/5 low (11d), 3/15 (5d) and today 3/19 (1d).
Ideas always welcome in the comments. Errors will be amended as comments on TradingView or corrected inline in my blog.
-=x=-=x=-=x=-=x=-=x=-=x=-=x=-
Friday, March 19, 2021
Facts: +0.76%, Volume higher, Closing range: 83%, Body: 45%
Good: Support at 13,000 to start morning...
Trend lines drawn from the 3/5 low (10d), 3/12 (5d) and today 3/18 (1d).
Ideas always welcome in the comments. Errors will be amended as comments on TradingView or corrected inline in my blog.
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Thursday, March 18, 2021
Facts: -3.02%, Volume higher, Closing range: 5%, Body: 82%
Good: Nothing
Bad: Broke below 50d MA and...
Trend lines drawn from the 3/5 low (9d), 3/11 (5d) and today 3/17 (1d).
Ideas always welcome in the comments. Errors will be amended as comments on TradingView or corrected inline in my blog.
-=x=-=x=-=x=-=x=-=x=-=x=-=x=-
Wednesday, March 17, 2021
Facts: +0.40%, Volume higher, Closing range: 78%, Body: 58%
Good: High closing range on slightly higher...
Trend lines drawn from the 3/5 low (8d), 3/10 (5d) and today 3/16 (1d).
Ideas always welcome in the comments. Errors will be amended as comments on TradingView or corrected inline in my blog.
-=x=-=x=-=x=-=x=-=x=-=x=-=x=-
Tuesday, March 16, 2021
Facts: +0.09%, Volume lower, Closing range: 33%, Body: 23%
Good: Higher high, higher low, successful test...
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You should watch for any movement that deviates from the 3008.91-3104.0 segment.
If you fall in the 2961.97-3008.91 area, you can touch the 2734.40 point, so you...
This is the Log chart of where we are right now scrolled back over a 100 years.
We all know how important trendlines are, and the first time we touch a trendline, we will expect rejections from the trendline.
Currently the DJI sits about ~600 points away from the trendline from the time of writing. The trendline high sits at about ~33500 points (we are not far...
Over 30 years of records - US10Y treasury yield, USDJPY yen, USDEUR euro versus NASDAQ IXIC & Dow Jones DJI - Watch out when the roller coaster lift cable stops pulling that USD dollar up.
Trend lines drawn from the 3/5 low (7d), 3/9 (5d) and today 3/15 (1d).
Ideas always welcome in the comments. Errors will be amended as comments on TradingView or corrected inline in my blog.
-=x=-=x=-=x=-=x=-=x=-=x=-=x=-
Monday, March 15, 2021
Facts: +1.05%, Volume higher, Closing range: 100%, Body: 73%
Good: Close above last week's high and back...
The Market Week in Review is my weekend homework where I look over what happened in the previous week and what might come in the next week. It helps me evaluate my observations, recognize new data points, and create a plan for possible scenarios in the future.
I do occasionally have some errors or typos and will correct them in my blog or in the comments on...
Looking at a triple top for ADBE in day view, followed by a breakdown below both the 20 and 200 day MA. Looks to have found support at 420, but hit the top of the downward trend line and is sitting at a previously established support level around 445. If ADBE fails to break up and follows the downward trend line, it will be forced to retest 420. If it fails and...
Divergence continues to build between buying volume and valuation in the combined SPY/DIA chart. I believe this indicates buyer fatigue in the sectors that have seen a bull run after the tech selloff. This, along with TNX jumps continuing to drive the IXIC down, could indicate imminent trouble in the general markets. It doesn't seem that the SPY/DIA can keep...
Trend lines drawn from the 2/16 ATH (19d), 3/8 (5d) and today 3/12 (1d).
Ideas always welcome in the comments. Errors will be amended as comments on TradingView or corrected inline in my blog.
-=x=-=x=-=x=-=x=-=x=-=x=-=x=-
Friday, March 12, 2021
Facts: -0.59%, Volume lower, Closing range: 97%, Body: 58%
Good: Bulls bought back the morning lows to...
Checked out some monthly charts this morning before market. IXIC overbought on the RSI, Stoch 14/3/3, and on the Madrid Bull/Bear sentiment. Still trading quite a ways above the 50 day MA and the most recent support level in monthly view of 10900. Seems unlikely that the recent selloff will do enough to bring the index back to normal ranges. Further indications...
Trend lines drawn from the 2/16 ATH (17d), 3/4 (5d) and today 3/10 (1d).
Ideas always welcome in the comments. Errors will be amended as comments on TradingView or corrected inline in my blog.
-=x=-=x=-=x=-=x=-=x=-=x=-=x=-
Thursday, March 11, 2021
Facts: +2.52%, Volume lower, Closing range: 81%, Body: 67%
Good: Another higher high and higher low,...
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The volatility around March 11th (10th-12th March) should be watched to see if there is any movement that deviates from the 3008.91-3176.40...
