- SP500 has had a top every 7 years.
- Technically we are at similar postures than in 2000 or 2007.
- There is the possiblity of a E (we had ABCD so far over 14years).
- In October, SP500 will find it difficult to pass 1980:
* Supporting channels that require rentry
* Monthly amplitude was already 160pts when average over 10periods is...
Looking to short SPX after this double top.
Once the neckline breaks you have several opportunities to place short trades ...
Target is the longterm channel bottom at around 1737.
Taking first profits at 1845.
Short opportunity on the 240 min USDJPY.
RSI overbought on the Daily chart
Bearish reversal candle for Fridays close on the 240
1st Target at the 382 fib (108.421)
2nd Target at the 786 fib (107.320) (previous consolidation)
Stops just above recent high at 109.540
roll stops forward to break even at 1st target
See notes on chart.
3 week price change is 1.89%
PA could not form new highs all of AUG and PA is seeming to form a rounded top.
Price broke through support and and the trendline, but was pushed up by buyers today. wait on confirmation.
Buying DEC 130 Puts I think this gap will be filled before the end of the year.
We will see in 20 mins if this is valid double top or not.!!!!
SL = 1ATR
TP1 = retest of structure
TP2 = retest of 2nd structure
MAJOR MAJOR structure on daily
We note that price has been trading along bullish uptrend line, from Aug 2011 to May 2013. However price has been consolidating sideways since June 2013 until now.
We note a possible Diamond Top Formation close to breaking out. The breakout will likely happen after price manages to trade and sustain below 75.00.
The objective of the pattern will be to reach...
After a fantastic run from 21 to 32, now it had attempted to cross 33 for the second time.
Usually on 2nd/3rd attempt the price goes down. With negative divergence on RSI/CCI , i suspect the price will dive to long term trend support and fill the gap if a large slide happens. MACD and RMI are on top as well giving downside potential. Note that previous 3-5% push...
I'm going to time the top of crude with the top in the Canadian $. It is very clear where the Canadian $ will retrace to so i'll use that level for reference then look for clues of a top in crude. I'm guessing 105 area as its a nice round number.
The Technical indicater such as MACD, Stoch and RSI are loosing momentum. We had a double bottom, but now, it appears that we are on the eve of a double top. If this is confirmed, then, we may see a move with first stall point at resistance 9750 and around, then a move downward to 9490 and 9100 may be 89XX.
Just an idea and a scenario we should think about.
This looks very much like a topping formation to me, especially with the market stalling yesterday before the previous highs (denoted by the "head" on the chart). I'd be interested in selling rallies, with at least a target of 1837, though preferably a much lower target; 1800 and the 200 EMA beneath it may also be viable targets.
Bit far fetched, but many indicators come into one play of forming a top in May. Point by point
1) After edging up on the sale support as before after making a new high, Nasdaq composite gives room for a head and shoulders formation. Top would be in May if this holds true.
2) RSI, Stoch and MACDcan all be traced with following the patterns to top in may should...
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