ABBV is selling off this week in a third leg down from the buy climax and all time high. Although it looks strong at first glance, this is more likely a sell vacuum (sell climax) than the start of a strong bear breakout. A vacuum is created when strong bulls step aside and wait for prices to reach a location they want to buy, and the strong bears continue to...
VSI has rallied quite a bit over the past few days. It has shown quite strong momentum and continues to test the upper bound of the Kovach Reversals Indicator . This plus the fact that it has almost doubled in value suggests that we should definitely wait for a retracement before considering taking a long position. Also, consider taking profits as a...
As predicted (see linked article), there was a brief respite in the USDJPY's tumble, marked by a morning star pattern, confirmed by a green triangle on the Kovach Reversals Indicator. Currently, we are in a vacuum zone and both Kovach Momentum Indicators are solidly bearish. Yields are lower, and there doesn't seem to be much on the horizon to lift the dollar...
$40 is a significant price magnet that institutions obviously like to use as a bench mark. $40 Crude was sold in 1990, 2000, and 2003. It was bought in 2004 and 2009. I suspect that we will find buyers near 40 again. This may take a couple of months of sideways price action along 40.
Oil has penetrated the monthly trend line. Most trend line breakouts are not...
