100 ema line broke on 11 oct 2023 and market went down. Then it made 100 ema line its resistance.
Just an observation Not a prediction You have to admit, that 200 day & FWB:25K support looks appealing for a trade (with a stop well under it). PUKA
Sofi is taking another shot at this red resistance it has struggled with for weeks. The takeover of the EMAs was short-term bullish. This convergence of EMAs signals contraction to me, and you know how I feel about contraction. As the candles get smaller and RSI rises a big move is on the horizon. Sofi being GAAP profitable this coming quarter is not priced in,...
I expect the price of the euro/US dollar to fall to the level of 1.084, which is the moving average level of 21, then to rise and break the 1.1 barrier to 1.107 and continue to 1.138 until the end of the year.
AMEX:SPY December 16, 2023 15 Minutes The buy for the day did not trigger. At the close XETR:SPYY is below 50 averages and net 9,21. The last bar broke the channel but had a long wick to close near the bottom of the bar. The 200 average is flattening out, hence once 467.5 levels are broken AMEX:SPY may take support around 464 levels to catch up with 200...
Since November 1st we have tried to correct the uptrend a fourth time now. First was on 10th, second on 17th and on 22nd the third one . The 3 previous have failed. Now we are amidst the fourth. Each of the tests have ended with higher lows, i.e. they have confirmed the uptrend. The whole trend is almost 2 month old now. Due to one confirmation after the other I...
Last year, continuing claims for unemployment insurance hit the lowest level since 1970. After a sharp uptick this year due to layoffs that mostly affected white collar tech workers, the absolute number remains strong relative to history, but is now above the lows of 1972–73, 1987–88, 2000, and 2018–2019. An upward move this sharp usually accelerates and becomes...
Hi Traders! EURUSD is forming a potential double-top pattern, and there is great risk-reward potential for shorting opportunities near the resistance. Here are the details: The market tested the previous month's high of 1.10173, but the bears are holding very strongly around this level, which has currently formed a double-top pattern on the chart. Preferred...
Hi Traders! USDCAD has formed a head-and-shoulders pattern and is approaching the neckline. Here are the details: There is a current lack of buyers in the market, and the market is trending down with swings of lower highs and lower lows. Our plan is to sell rallies looking for a break below the neckline and target the 3-month low at the 1.33802...
I believe we are bearish into the next week start candle on the DXY. I outline what I want to see the DXY do. There is still a possibility for an incredbily bearish week coming up for the dollar. Watch video for rest of details.
AMEX:SPY December 15, 2023 60 Minutes. The mind of many refuses to accept the bull in place. Very rare to see a parabolic move in $SPY. I have considered the following Fibs The rise 454.13 to 473.73 The rise 464.12 to 473.73 The fall 473.73 to 469.26 For the first rise as long as 461 is held we are in an uptrend towards ATH. For the second rise AMEX:SPY ...
After the spike in the previous trading session once again going through the RXT sell signal, price is now back in market grid. PPMs 1 and 2 are pointing down for the day, which means that there may be some sell off. However considering there is no major dip incoming in the algos, price may stay within the bounds of the market grid or the previous session's...
Hi Traders! AUDUSD has broken its yearly trendline resistance as the bulls have taken over. Here are the details: The yearly trendline is now broken. Since the break and close above the 20 EMA, the price action has looked very bullish. Our plan is to buy the market dips by looking for an entry near the trendline resistance and an exit near the mid-year range...
After the miss in August () I am taking another run at NYCB. I think at 1.2x TBV, a forward P/E of 7 with growing earnings and a 7% dividend yield this is an attractive proposition. I think a good first target is around 10.70 - 10.78 where the 38.2% retracement of the drop since August and the upper edge of the volume control band are. A SL would be reached for...
Hi Traders! USDJPY is on a pullback and re-testing the trendline break, which opens up opportunities for short entries on the market's pullbacks. Here are the details: The market recently broke both the support trendline and the descending channel. Our plan is to sell rallies by looking for an entry near the 20 EMA and a target exit near the monthly...
Hi Traders! SPX looks to have confirmed the support test. There is a long opportunity near the support level of 4541.25 for a potential break above the five-month resistance at 4607.07. Here are the details: The market has comfortably held above the 4541.25 level for more than a week. Preferred Direction: Buy Entry Level: 4554.73 Stop Level: 4498.97 Target...
Hi Traders! AUDUSD is in a descending triangle, and there is a possibility of a break below the trendline support. Here are the details: The market is trending down with swings of lower highs and lower lows following the break and close below the 20 EMA. Our idea is to sell rallies, looking for a break below the support trendline and exit at 0.64924. Preferred...
We are at a key level on the 4H, with the lower timeframes consolidating and turning bearish.