Updating the count on SP500 and Nasdaq (next post) to make it look more organic. This is a possibility not a must. It is likely that the previous alternative scenario in red (bigger wxy) is canceld out.
I lately published a SPDR500 short idea as interest rates and inflation are both on the rise in the US. There is currently a knock on effect in global markets, and this textbook technical short trade exemplifies it.
a repeat of the previously posted chart. Not a trading setup as the pattern is incomplete.
Nasdaq performed exactly as we charted in our previous analysis of the alternative case . At this point, Nasdaq rests on strong support formed by 200MA on the D chart, and the bounce is likely. The bounce can be short-lived - just enough to form a wave (2). A more pronounced bounce will complete a complex wxy scenario. Clear impulse waves down (1) and 1 speak...
Seems like we are in the base case scenario (light grey or white on the chart). During US non-working hours the price formed what seems to be x in wxy. The drawings are unchaged from the previous post.
The S&P is at overextended levels, and will be unable to sustain these prices. Looking for a considerable multi month correction.
The big picture for DJI is getting more clear and potential trading opportunities are staggering. Developments over the past few years can be charted as WXY sequence of corrective waves. That is likely to be wave 1 of a gigantic ending diagonal. Even more bigger picture is coming in next posts.
DJI offers a very interesting perspective that suggests that I should consider reviewing SP500 and Nasdaq charts posted earlier. The price seems to have not finished the uptrend, and the coming decline is wave 4 of ending diagonal 5.
I recently tweeted few ETFs that went looking good at the time, one of them was AMEX:XLC . The ETF look much healthy and attractive now, the price managed to come back above the 200EMA and now it's above the 50EMA. This means that the uptrend is still intact, and for that reason I'm taking a swing trade on AMEX:XLC . This trade has the potential to yield a 1:3...
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That's right. Short on this one and we are right in a middle of a corrective zigzag on this one. we may have very transient and short upward transient movement, but then that will be followed with an honest conversation with gravity. We are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci...
Energy (XLE) topped the sector list this week after the OPEC Monthly Report on Monday projected that demand for oil would exceed pre-pandemic levels by next year. The sector also got a boost from Crude Oil Inventories data released on Wednesday that showed much higher demand than expected. Consumer Discretionary (XLY) moved into second place after great Retail...
SNIPER STRATEGY (new version) It works ALMOST ON ANY CHART. It produces Weak, Medium and Strong signals based on consisting elements. NOT ALL TARGETS CAN BE ACHIEVED, let's make that clear. TARGETS OR ENTRY PRICES ARE STRONG SUPPORT AND RESISTANCE LEVELS. ENTRY PRICE BLACK COLOR TARGETS GREEN COLOR STOP LOSS RED COLOR DO NOT USE THIS...
All sectors declined this week as the S&P 500 pulled back from all-time highs. Consumer Discretionary (XLY) was poised to end the week with gains before losing those gains in Friday afternoon selling. Real Estate (XLRE) was the worst-performing sector of the week after outperforming the market in the previous week. The sector erased all of last week's 4% gain as...
Defensive sectors led the sector list during a week where employment data kept investors guessing on the Fed's timeline for bond tapering. Real Estate (XLRE) led the list throughout the week. The sector is benefiting from low interest rates while it also remains a good hedge against inflation. The Fed continues to put full employment ahead of inflation as the...
A mix of growth and cyclical sectors topped the list this week. Defensive s all sectors declined for the week after topping the sector list last week. Energy (XLE) held the lead among sectors for the entire week, despite a pullback on Thursday. The sector completely recovered from last week's decline and marked a higher high this week. All of the cyclical and...
Defensive sectors led throughout this week as the Market absorbed data that showed a slowing economic recovery and meeting minutes from the Fed that indicated tapering could begin this year. Utilities (XLU) and Health Care (XLV) exchanged the lead several times, and the finish was close. Utilities came out on top as a favorite place for investors to keep money...
Materials (XLB) led the sector list for the week, getting a massive boost on Tuesday and Wednesday after the Infrastructure bill passed the Senate. Industrials (XLI) also got a boost from the bill. Financials (XLF) contented for the top spot, gaining from rising Treasury yields that positively impact performance for the sector. However, yields dropped on Friday,...