Oil price recovery has been mostly driven by USD related factors and so the fundamentals are still not where they need to be and the chronic oversupply continues. The banks with the largest energy debt exposure have felt the squeeze as a result and remain relatively risky. This chart shows the performance of the banks with the largest declared Energy debt...
Could the S&P 500 be in the middle of carving out a possible head & shoulders pattern? If so, and it breaks the neckline, the extension (the distance between the head & the neckline) could target the 1960 area which is the 50% Fib retracement of the April 20th high (2111.4) / February 11th low (1807.5). Bear in mind, the word on the street is that the shorts...
Of course it is, maybe now maybe later. The chart shows the last major movements in time and distance. It has been stumbling since last year. We all know it is coming just nobody knows when. Perhaps 2016 perhaps 2020. Not a trade just food for thought
The left side of the blue target box is at the number of months the 2000 dot com bubble took to reach swing low. The right side is the number of months the 2008 crisis took to reach swing low. The top of the box is the % drop of the 2000 dot com bust, and the bottom of the box is the % drop of the 2008 crisis. Interestingly, the average of the 2 is almost exactly...
Potential "fake break" above downward trending line from previous peaks. Volume on most recent peak was weak, no conviction. Plenty of support beneath, however, in reviewing previous lower-lows, 1800 could be the next resting point if bearish news/info comes to light
The S&P Index is hovering above the 2068 mark which remains a crucial support zone at the market, measuring 3 multiple tops since early 2015 the S&P index is likely to test its 4th Monthly top in early 2016 at 2105 which is very likely to test in a few trading sessions. From measuring the distance between June 2015 lows to early 2015 tops, we have a 9.23%...
This is a classic bullish signal. Although some disagree with this due to the fact that moving averages follow prices, rather than the other way round... Research shows that on average, after a golden cross occurs the S&P500 has gained >11% 12 months after. I think that if this does come to fruition, we will still see some downside as a correction to the current rally.
Technical look on SP500 - I see SHORT but.... these sunday we are waiting for results of DOHA meeting (OIL production freezing) and other stair is YELLEN with her printers. Hope for poor company earnings this week .. our last chance for short. :/
Hey Traders! One of the questions I get the most is, "what's your longer term perspective and plans on the S&P500?" Well, here it is! Back in January (in this review video www.youtube.com ) Minute 1:00 - 2:00 I mention the "cataclysmically strong support on the SPY at $187 {S&P500 1,867}, mentioned we were still bullish to neutral, looking to buy low sell high...