I am expecting a pop in either direction, if it does pop down I don't think it will stay that way for long. You can check out the full case study on my website.
Another free monthly case study on DJX, support at 178 and the target is 181. You are welcome to check out my site for more details on this case study.
I went totally wrong on AUDJPY yesterday after reanalyzing everything and should be stopped out very soon. As far as the USDJPY goes. There is a lot of YEN selling pressure right now that's taking out some key areas opening the door for a huge decline. Also, the USDOLLAR is picking up some strength ahead of the FOMC as you can see pin bar that formed a few days....
The substantial bounce off of 23-21 support at the daily level, as well as failure of megaphone top, means i'm inclined to look for 56-53 res retest.
I'll look for profit there and the the megaphone upper trendline, ultimately a hold above 53-56 area should test the long term trendline above.
If bears step in heavy and we get back below trendline and more...
My vertex hypothesis states that before major trend changes, the vertices on their respective parabolas will be generated on their moving average parabolas (minimum or maximum points in which the slope of the tangent line is zero). A common metric for bearish vs bullish market cycles is the price action being below or above the 200 daily moving average,...
October 2014 - October 2015 coppied and pasted on to years 1965-1966 correction rally and correction.
Here is a possible fractal where current price could be following or rhyme with years 1965-1966. Both periods had an initial correction (october 2014) both periods had a powerful rally out of the correction lows that made a similar % move and time move from lows...
During the recent selloff, Apple on long term basis failed the 5-year uptrend by falling below 1st upper standard deviation from 5-year (260-week) mean @ 109, however held the test of 10-year uptrend by bouncing up from 1st upper standard deviation from 10-year (520-week) mean @ 92.
On short term basis, the price managed to hold 1-year ascending channel (marked...
3M price is in a very tricky situation...
On long term basis it failed its 5-year (260 weeks) uptrend test by falling below the 1st upper standard deviation from 5-year mean. It's 10-year uptrend is still intact, as price is trading above upper 1st standard deviation from 10-year (520 weeks) mean.
On short term price is in downtrend on quarterly basis (below 1st...
US stock markets have proved their resilience over the years as they have climbed a "wall of worry" and my my my, it has been some wall they have been scaling. It would be foolish to call the top in any market that has displayed such steepness in its ascend but it is evident from the chart that we have hit some long term resistance levels.
- Triple Bottom...
RSI is above 70 (because this is a heavy index RSI usually stay in between 30 -70)+Kangaroo tail w/big wick after 10.5% advance+MACD near crossover. This price action tells me we might see some sort of correction to 17.340 level. This is by no means a "SHORT INDEXES" trade. Just a minor throwback before Dow Jones continues to climb higher
