Looks like we will have opportunity on this pair no matter which way the price decided to move. Two Gartley formationss setting up for bearish and bullish opportunity. Let see how this pans out later in day. Good luck!
We took profit on cable long yesterday around 1.4435, for the past 24HRS we have seen a familiar pattern in the pair and we go short from here: 1.4400. From this level we expect price to break 1.4328 down and continue lower. We are entering this position with small lots with posibility to add after the break of 1.4328. If the pair manage to break the 1.4328, the...
We have been watching this pair closely from last week when it broke the structure 126.09 to the upside. Immediately the price traded back below the structure. Since 15Th March 2016, the pair have been trading this major struture and unable to break above with any purpose. Technically we are short the pair from 126.04 with a low risk. We are expecting price to...
I believe to have found a H&S pattern on the daily chart in UsdCad I am selling below the neckline - SL at 1.36, target of the H&S is around 1.2550 UsdCad put in new lows on Friday, after the data releases (and bad number on earnings) Also Crude Oil is on the way up again - next target 38-40 The combination of these two will probably bring Usd down more the...
Despite my overall bearish outlook on stocks, Gilead Sciences stands out as the 'Little Engine that Could' in the sense that it keeps chugging along despite being battered by the broader index just after earnings came out late January. On the fundamental side, most analysts think it's way underweight citing that it should be worth as much as 66% more as per the...
Data from the U.S. has improved by the barest of margins. The New York Fed Consumer Survey finds inflation expectations rising (by less than 1%) above expectations, and the ECB rate cut means lots of free cash to play with. Keep in mind we have the FOMC meeting coming up and their decisions will determine the direction of the markets for the near term. ...
As of March 3rd, Gilead earned a 'buy' rating from Citigroup as verified by the link. It is true that GILD should have performed better after earnings as has been historically demonstrated, but it took a beating with the overall index but failed to share in the rebound. Personally, I think this is a good thing, for you'll note from my previous post here ...
There's been a massive short covering rally of near historic proportions in oil recently. As the OPEC circus continues to 'cry wolf' regarding freezing production, the market, once overwhelmingly short on the commodity, takes the opportunity to cash out some of its short positions. There is really no fundamental reason for oil to rally so hard as the attached...
With the tsunami of data this week, it was really hard to sieve out anything stellar. At best, we had employment data that was above expectation on Wednesday, as well as a moderately improved ISM manufacturing index. PMI and Factory Orders left much to be desired. Central Bankers all over the world are scratching their heads and trying in futility to save face...
After the pair retraced backed to the 38.20% region, a beautiful reversal can be seen indicating that the pair will continue it's downtrend. With a nice 3 black crow candlestick pattern displayed, it only adds more confirmation that the pair will reach for lower lows in the near future.
Saudi Arabia controls the price of oil. Once you understand that, all technicals need to include variables for real world political manipulation of the worlds most important commodity. .... "Church of Krümel" Back in the day, there was a King, he turned off the blood supply to the industrial world. The world went into chaos, wars started... wars stopped. In the...
Yesterday, Janet Yellen of the Federal Reserve spoke confirming expectations that the Fed would sit tight on interest rates. She even admitted today that the Fed is considering negative interest rates. Her ominous tone did not bode well for the markets as evinced by the abysmal market opening today here in the US. In fact, the world's markets are rearing from...
Any hopes for a recovery this week were quashed by today's open and marked declines henceforth. There really doesn't seem to be any indication of a turnaround, unless some good data comes out this week, and there is quite a bit to anticipate. As the attached article notes, analysts are cutting their expectations for the S&P, and it would be good advice to any...
From political instability to ineffectual QE, bullish news for the Euro is scant. We can look for more confirmation from Draghi to this effect soon to come. As far as the technicals are concerned, we have a very strong bearish head and shoulders pattern forming on the weekly chart. There is massive resistance from above via the ichimoku cloud which will make a...
Unfortunately for NFLX on the fundamentals side, they were ousted from Indonesia, which was a prime target for their international expansion endeavors, due to a failure to fulfill their censorship standards. Unfortunately for them, this simply adds to the list of bearish technical indicators despite 'buy' ratings from numerous sources. First, note the bearish...
When Apple was using the Power PC line of processors in their computers, I was extremely skeptical of them. Their operating systems prior to OS X were abysmal. They crashed all the time, and the availability of software for anything I wanted to do was scant. Then they started rolling out Intel processors, and updated OS, and a slew of performance upgrades and I...
There seems to be no shortage of bearish news on Crude oil lately. In fact, today's 'dark cloud cover' candlestick pattern is a bearish rejection of the level formed by Friday's close proves the little rally we saw on 2015-01-22 was merely just a short covering frenzy. Almost all the technicals indicate we are in a solid downtrend. The Aroon indicator is still...