It seems as if something fundamentally changed in 2018, beginning a multi-year period of volatility.
From a WashPost article about the period: "DEC. 4, 2018
Markets tumbled after Trump tweeted “I am a Tariff Man” and the Trump administration backed off earlier claims of a trade-war truce with China." (www.washingtonpost.com)
The 6 week rally from the low on Mar 23 appears to be digesting the gains or struggling for direction, as you see fit.
$SPY ended lower for the week, down -2.65% on Friday on a very low volume day as most of the exchanges worldwide were closed for Labor day holiday. The critical 61.8% retrace and gap resistance is acting as a wall at present.
The US markets...
Use this as a guide to develop your own setup
Main items we can see on the Daily chart
a)The price is against the broken descending channel
b)The price is against the upper trendline of the corrective structure
c)This two levels combined creats a good zone for reversals
d)We can see a low volume on the bullish movement, using Wykoff theory, than can be read...
SP:SPX
TVC:SHCOMP AMEX:VEU
TVC:SX5E
AMEX:VEU
1, Vertical lines: Thin Orange is Trump wins election. Thick Orange is start of Trump presidency
2. Chart Lines:
White is USA stock market, S&P500
Blue is the European “Dow Jones”, Euro Stoxx 50
Orange is the market cap weighted index of the entire planet’s stock markets (the 44 countries with capital...
Acuity Brands: The Business Uncertainties from Tariff and Wage Inflation
I last mentioned Acuity Brands (AYI), a lighting and building management solutions company with $3.7B in net sales in 2018, three months ago. At that time, I described a good risk/reward setup to go long the stock post-earnings. AYI shot nearly straight up from there. The stock broke through...
Let’s keep an eye on $1,246. The idea is to take buying positions above it for 30/40 pips. While sell entries will be preferred below $1,246 to target $1,242. Good luck and stay tuned for more updates.
