All I can say is, what a Bounce! Well done Mr. President and institutions for keeping the Bears honest, btw: shout out to the real Mr. P! Unfortunately, you cannot prop up a market forever, and nature’s course will always find a way. I believe from this point on you can expect the market to be in a perpetual downtrend with lower highs and lower lows over the...
Expecting a reaction at these levels to the downside.
50% retrace lets see what it does once it gets to that point. I would think we fall once more and bounce around 261 possibly next week to start the "Santa Rally" in Decmeber
Looks like markets are due for another decline
lets see this run its tail off
On a micro level Russell needs five waves down off the top made at 3 PM last Friday. So far it reached the bottoming area for the micro wave ( iii ) down. That means that after corrective a-b-c shaped move up it will continue moving down in direction of the green target box
The decline off the January 2018 low is shaped as ABC. We are in the final leg C down. The drop to 1,470 area may complete all of the Wave C down and consequently the whole correction off the top in January 2018. Or it could be just the wave ( iii ) of that wave C. That scenario would imply a corrective pullback up in the wave ( iv ) up and then another drop to...
Intermediate up trend broken broken on the dialy log chart. Have a gap to close above. Of course not sure how high it will go before the next fall.
The triangle consolidation idea seems to be working out. See link below for longer term charts.
Follow up from previous post ( see link). IFFFF correct we have a "c" wave ahead of us. They can be fast and furious. If wrong my stop is a close > than recent high (dashed horizontal line on daily chart ). Bearish engulfment candle on daily. Increasing bearish diverge on weekly RSI . If black uptrend line broken may add to position. Take care
With drop today I took short position. The action from Feb. looks like a form of H&S with the H a M shape to me. Using that idea I have a short term target that wold take out the nearest gap. I personally am using a 2 hour close above 134.56 as my stop (the low of .1 on a non-bat realtime chart). There is always more risk to take the bear side in a long term...
Big spike coming due to overbought levels in the smallcaps asset class. This ETF will rocket over 40.
Here is my current view of the small caps. The weekly chart (not shown) has developed a negative reversal in the RSI. There is now a bearish divergence in the daily RSI (solid black line). A projected target (short up arrows) from the recent positive reversal in the daily RSI is at the level of a 78.6% correction (around 121-122). This also is at the upper...
From the past two appreciable declines in 2001 and 2008, there appear to be some trend lines worth watch, in case current price action follows similar patterns.