200dma broke as has the 2019 uptrend. Huge red flag for markets. May DCB here near 10K
Losing 200dma support would have big implications
Chart says all. Been shorting too soon as usual, but the 7-wave Triple combo is a rare and confusing pattern. Overnight ES futurez tapped the intersection of long-term TL and near-term TL in this wedge; they converged at 3056. China says they were just kidding and wont get serious with the Great Donald, such a big surprise! Expect to fill the gaps from past...
FDX took a hit in Q1 2019 due to a poor earnings report. It looked like a great short going into the end of March, but a strong surge of buying pushed it through the chop zone and into the next level of support. Elevator down through here, so expect a quick surge followed by a test around 200. Target 196-200, with possibility for a strong short play on the reversal.
Dominion Energy, Inc Dominion Energy, Inc. produces and transports energy. Stock - NYSE (USA) --- Buy - $76.90 Take Profit (Sell Limit) - $78.62 Stop Loss (Sell Stop)- $75.19 ------ Take Profit = +2.22% Stop Loss = -2.22%
There may be an extended 5th, but that's not looking to be the case. This is tech analysis only, no fundamentals were taken into account.
As is suggested by the heading even though we're seeing a rebound of DJI's rally one of it's confirming indicators is showing weakness. For the most part we use the Dow Jones Index as loose indicator of the overall economy, when it's performing well, on it's face, we discern that the economy is humming along well. As a confirmation for the thought process we use...
I've wanted in UPS for a while but refused to chase the move higher. Now that we're getting some weakness, I'm eyeing this name for a long-term investment. I'll be a buyer on a test of the breakout level/50% retracement at $86.5. Shorter-term, I expect continued weakness, so there's no need to rush in to this one!
Trade Thesis: Short Dow Transports The name is showing price weakness as it is wedged between 8 Day and 21 Day Moving average. I will be monitoring this to see how the trend plays out. Confirmations: 1. Lower lows and lower highs on Day chart 2. Lower lows and lower highs on Week chart 3. Below 8 Day EMA 4. Doji indicating price indecision on Week chart ...
Flat double zig-zag looking to launch this back into 50+ share territory. Look to go long at break of 50 using the Elliot structure as your guide you.
Transports have been leading to the downside for the last three weeks. Economic activity did not seem strong enough to warrant a rate rise from the Fed. Too early to say if this will lead to a long term reversal.
It's been about seven sessions since we first issued our real time rating on XLE as bearish, and we still believe there will be opportunity to the downside. Volatility should continue as headline risk prompts uncertainty in the markets. Even if Saudi Arabia did happen to freeze or reduce production, it could not be enough in the long-term to offset production by...
MACD crossover + CCI move into outside channel. Very bearish but consolidation at falling trend support line.
The SPX has been up and down more than a yo yo over the past year. Should traders and investors expect more of the same going forward? What's next for the SPX? The index has enjoyed a solid run up to this point since February lows gaining over 16%. In early May the 50/200 moving average 'golden cross' gave a bullish signal. Backtests show the 'golden cross' 4/5...
Looking at support and resistance lines plus various moving averages, I would say the DJ transports is like to range for the rest of this year or until September. After this time, this is when the market in general will make a decision about where the market is headed. My bias is for the downside. At the current moment i'd say its a good sell to support.
Traders have seen this before, and it continues to play out as the global economic climate breaks down. Although these pullbacks in the SPX are often lofty and swift, it is important to realize volume is the most import factor when considering the validity of a pullback. Here , we can see that the move in SPY is volumeless. The entire squeeze from the Feb. 11...
CADJPY has been setting up to become a great selling opportunity on a macro-standpoint for the following reasons: I was looking for a drop well-before today's action: twitter.com twitter.com twitter.com twitter.com Fundamentals in a nutshell: CAD is highly correlated with WTI crudeoil, both on a fundamental and technical level. There still is no tangible...