🖼 Daily Technical Picture 📈 ➤ I was looking for market participants to do some window dressing on Friday to make a horrible September end on a positive note. Instead, we saw window selling. Ending with an exclamation mark to show how bad the month was for long only investors. It was a bad end for myself as well. I gave back pretty much all the profits from...
🖼 Daily Technical Picture 📈 ➤ The sequels just keep coming...prices are still stuck in the narrowish support and resistance levels for the S&P500. This time ending right at the support level in contrast to the previous day. If you get the feeling some one is trying to shake you out, that's exactly what it looks like. That being said, a break to the downside would...
🖼 Daily Technical Picture 📈 ➤ Another hugely volatile day. Pre-market conditions were looking disastrous as US indices were south of 1% and European indices were down over 2%. A complete turnaround occurred as bond yields reversed lower. Bond yields have become unhinged and forced central banks to step in to try and control the situation. We should expect such...
🖼 Daily Technical Picture 📈 ➤ No prize for those of you who guessed the title of today's update. It's growing a bit tiresome. As in previous days, prices opened higher and ended lower. As suspected, with VIX moving higher, S&P500 set a new yearly low in the process but was able to close above the support level. ➤ This tiresome behaviour may bring about some...
🖼 Daily Technical Picture 📈 ➤ Bulls are being tested for the second day. This time, prices were not supported at higher levels and finished the trading day near the lows. VIX leapt higher again. Things are looking pretty ominous. ➤ I don't know if it's good news or bad news but the daily trading volume is moderate. Although elevated it hasn't really spiked. A...
🖼 Daily Technical Picture 📈 ➤ Crucial week ahead for the Bulls to defend the yearly lows. First defensive effort was mounted by the Bulls to finish Friday trade away from the daily low. Price gapped down below the 2nd last level of support. The close of the candle points to continued bearish behaviour in the very short-term. ➤ VIX spiked over 30 again. There is...
🖼 Daily Technical Picture 📈 ➤ There's very little insight I can provide with the current price action. VIX is stuck at elevated levels and not moving anywhere. Price is moving lower to the support levels. If you weren't already in a short trade, it isn't the best place to start. If you are looking to buy, prices could continue to move lower. 🤷♀️ Risk to reward...
🖼 Daily Technical Picture 📈 ➤ Equities decided break down but that's not what I'm concerned about. It's the VIX...has it literally broken down❓ 🛠 Apart from spiking to the panic level to 30 (as I define it), it did very little on a big down day. ➤ Perhaps VIX does make sense within the context of the price action. As prices have moved consistently lower, VIX has...
🖼 Daily Technical Picture 📈 ➤ Prices held above the immediate lows but overall still drifting lower. It is stuck in between support and resistance zones. This is fitting behaviour given the USD Fed Interest Rate decision on Wednesday afternoon. ➤ VIX is not giving much away. Still trading below the recent peak but at elevated levels. ➤ Market makers and...
🖼 Daily Technical Picture 📈 📉 GAPs are unfashionable and it tends to get closed. Well, that gap has almost closed and I'm not FEELING great! ➤ Big reversal in markets as equities bounced after once again gapping lower at open. Price is heading back to the support level (that should be re-labeled as resistance). ➤ I had strong convictions that the gap will be...
🖼 Daily Technical Picture 📈 📉 GAPs are unfashionable and it tends to get closed. I’m not talking about the retail clothing store. ➤ A large price gap is caused when there is a substantial difference between the closing price on the previous trading day and the opening price on the following day. This occurs in markets that don't trade around the clock like...
🖼 Daily Technical Picture 📈 ➤ Price again held in the support zone with VIX also contracting from the short-term peak. I'm looking at this as a reply of mid-May. The difference is that VIX was in the panic zone back in May and the move down prior to the bounce was much longer in duration. Maybe I should call it a "mini-mid-May" - MMM. If I am correct I hope the...
🖼 Daily Technical Picture 📈 ➤ Same working title as yesterday. Prices are still at square one. There was hardly any bounce but prices managed to hold support. The market is not giving much away about its next move... ➤ I have closed the long positions in DAX and EUSTX50 (STOXX50) and have reversed to a small short position (-10% exposure each). This small...
🖼 Daily Technical Picture 📈 ➤ A momentous day in markets, momentous to do downside that is. All the up momentum was snuffed out today. Prices in S&P500 have dropped back to the support level. As I previously mentioned, there were subtle hints of a drop. The big surprise is the degree of the drop we just experienced. ➤ The only good news is that prices have hit...
🖼 Daily Technical Picture 📈 ➤ Equity markets leapt higher towards the 4200 resistance zone. The upward acceleration is decelerating as seen by the size of the candle/bars since the progression from the higher low. This is either because of less buyers or more incoming sellers. The VIX also increased by a small amount. ➤ These are subtle hints of change in...
🖼 Daily Technical Picture 📈 ➤ I like my lamb chops, pork chops...but I'm not so sure I liked the wild equity chop we experienced today. The volatile gyrations followed the news flow, it was some rollercoaster ride. The DAX probably best exemplified this with its manic 2% price swings. ➤ Despite all the yo-yo action, the S&P500 is holding above the support level...
Trade Idea: Selling EU50 Reasoning: Head and shoulders top with a gap fill Entry Level: 3765 Take Profit Level: 3700 Stop Loss: 3785 Risk/Reward: 3.58:1 Disclaimer – Signal Centre. Please be reminded – you alone are responsible for your trading – both gains and losses. There is a very high degree of risk involved in trading. The technical analysis ,...
Trade Idea: Selling EU50 Reasoning: False breakout on EU50? Bears to return ahead of ECB meeting? Entry Level: 3955 Take Profit Level: 3533 Stop Loss: 3621 Risk/Reward: 2.31:1 Disclaimer – Signal Centre. Please be reminded – you alone are responsible for your trading – both gains and losses. There is a very high degree of risk involved in trading....