Stocks keep edging higher, but the rally is increasingly more labored, as we struggle through resistance levels. The price action is 'rounding off' which suggests that a retracement may be near. If so, 3937 or 3909 are reasonable targets. However, we are bordering on a vacuum zone to higher levels, the next target being 4068, which would coincide with lows of...
Stocks are consolidating at highs. Volatility has constricted immensely and we have been holding this narrow range for the past two days. This suggests that a breakout is imminent. The Kovach OBV has slumped and we are at highs, where we will encounter resistance. Unless sufficient momentum can come through we should break down to 3909 or 3825. If we are able...
The S&P 500 has broken out, testing the very top of the range it has established this month. As predicted yeseterday, we hit our target of 3909. Momentum continued and we were able to hit 3963, before a brief retracement took us back to support in the low 3900's. The Kovach OBV is still flat, suggesting we will need more momentum to continue the rally. Watch...
As anticipated yesterday, the S&P 500 has rejected highs and sought support 3810, just under the mid point of the range the S&P 500 has been holding for July. This retracement was highly probable because we did not see the momentum follow through at open that it would take to break out higher. From here, we could test lows again, around 3737, which should hold...
Stocks have rallied, with the S&P topping out at 3909. We have completely retraced the range, as recession fears and soaring inflation scared market participants last week causing a dip that tested lows at 3737. After breaking through this level and testing the next level below at 3714, we promptly pivoted, and retraced losses completely. However, we are...
$BWP- Cup and Handle Pattern. It closed above the 20, 50 and 200 MA looking good!
NAS100 breaks out of decending wedge and is now currently restesting top of trendline as support which happens to land on a Fib date . Targets could be 0.5 at 13.8k , was waiting for retest to post and now it seems we might have that with a very strong open. Amazing time fib reaction .
Stocks have found support off lows after the selloff yesterday. Nearly double digit CPI did not fare well for stocks, with some market participants pricing in a 100 bps rate hike at the FOMC later this month. We at pivoted at 3714 after breaking lows at 3739. Currently, it appears that we are making a run back to the midpoint of the range but are struggling...
There are a lot of predictions regarding gold and how it's going to start its bullrun and a move to 5000 in the next 1-5 years but I really don't see it that way. In this 6 month candle chart you can see that in the next 7days we will be closing and confirming what seems to be a potential "Gravestone Doji" signalling a trend reversal . Also we are inside a...
As anticipated yesterday, inflation data came in very close to double digits, which rocked stocks. Traders are now pricing in the potentiality of a 100 bps rate hike at the next FOMC meeting in late July , the largest increase since the 1990's . This has weighed on stocks which have tested the lower bounds of the range. So far we are seeing good support...
The S&P 500 has continued to retrace, leveling off around 3810. We are seeing good support here confirmed by green triangles on the KRI. The Kovach OBV has flatlined, suggesting we need more momentum to come through before anything exciting happens. We will need to wait for CPI to be released at 8:30 AM EST. As we discussed yesterday, the markets are awaiting...
GME AMC We have a clear Breakout & Confirmed Reversal with both #AMC & #GME Breaking critical resistance lines. We are now down to 9 days until Dividend split! #AMC is breaking records daily with showings and GME just launched their NFT Marketplace! This is Nothing short of EXCITING #MOASS
Stocks retraced as anticipate yesterday. We fell exactly to the intermediary level of support we suggested yesterday, at 3825. The Kovach OBV has topped and rounded off, suggesting the weak momentum we saw last week has dissipated for now. We won't expect to see any significant moves, as the markets are anticipating CPI data tomorrow. With all eyes being on...
Stocks appear to be running into resistance at 3909, after a slow trek upwards from the 3700's. The rally was labored, with resistance confirmed at every technical level along the way by red triangles on the KRI. We are seeing a bit of a retracement, to 3867, with support confirmed by a green triangle on the KRI. The Kovach OBV has been bullish, but does appear...
The S&P 500 is trekking up gradually, testing higher levels. we have solidified the 3800 handle, and if momentum continues, we could easily break through to the 3900's today. However, the bull rally does seem labored, with multiple red triangles on the KRI confirming resistance. We should see strong resistance at 3928 or 3937. A rejection could take us back to...
Stocks are still broadly ranging, however the S&P is tending toward the upper bound of the range at 3867. We appear to be forming a bull wedge pattern, and the Kovach OBV is very bullish which could indicate a bull divergence. This could suggest that a breakout is imminent for stocks. If so 3937 is a good target. If we reject current levels, then the base of...
Stocks are wavering holding the range from the previous week. We are maintaining the value area between 3758 and 3848. The Kovach OBV is drifting upward, suggesting there is a bull divergence which may suggest a breakout is near. If so, 3937 is the next target. If we break down, we should expect support at the lower bound of the range at 3758, but if that does...
Has the stock market bottomed out ? weekly bottom on market cipher.. previous green dots were all exposive moves to the upside !