Gold is currently severely attacking a long term support zone made up by the confluence of multiple support lines both horizontal and oblique. If the breakout is confirmed and the price respects the projected supports breakout series initiated early 2013 we can expect the price to drop as low as 970$/ounce. Though the technical picture is pretty bearish, the...
I do like this trade a lot. There is some "interesting" support from early 2015 which LOCO could pause at for a bit. Don't be chicken to take this trade though. Nice squeeze, there is a gap down. Likely going to play this with shares because options do not move that well on LOCO...
Take a look back to check out what happens when RSI 2 is below 2.5, we have movement or a close below the lower BBand, and for an added bonus, when traditional RSI 14 is in the 40 or below range. The key to this setup is to not get greedy. Once that mid BBand line is crossed, it's time to tighten the stops. Let it ride. If you're a little cautious, sell when...
Volatility is so BEATEN down, one has to think that some type of a dead cat bounce to the upside is in order. This bullish crab pattern could be hinting that this will be the case as June progresses and Greece falls down the rabbit hole...
This is not the first time the euro-dollar has been able to stage monster rallies, as faith in the US dollar continues to crumble. The dollar index has had a few of the worst days since 2009. Previously via Twitter, I supported the initial rally from 1.0880; but as it approached the current supply zone, I believed it would be a tough nut to crack for further...
Because of contango, patterns on UVXY are hard to read because it is a bit like a fun house mirror - you get a completely warped and distorted view of supply / demand based price movement. But when contango slows down, the distortion clears a bit. Last August the market was coming off of a depressed VIX (it was in the 10s) and volatility crept back in. On your...
I use the VIX / VXV ratio to monitor VIX futures for contango/backwardation. A peculiar thing has been happening over the last 2 weeks on this admittedly ugly (but it looks great on a 4k mounted in my office) chart. VIX has been rising slowly over last 3 weeks and, more substantively, the VIX/VXV ratio has been rising too. As a result of that ratio rising, long...
Idea is based on median line analysis, fibonacci ratio's and basic support/resistance. The rationale behind this setup is shown on the chart along with specific targets and stop loss. Good Luck
Idea is based on median line analysis, fibonacci ratio's and the use of the following indicators: Bollinger bands, Stochastics and MACD. The rationale behind this set up is shown on the chart with specific targets and stop losses. Good Luck guys.
Still range bound for now. This is what is needs to go higher: AMZN is still range bound in this pennant/triangle until there is a close above $436.90 (MAY 21st high) or $439 (MAY 11th high) before it can breakout and test that $452 all-time high. Buying a June expiry 440/450 Call debit spread for $2.00 or lower would be a nice 1:4 risk:reward scenario. And you...
Fireeye Inc is eyeing the February $46.44 high earlier this year for a breakout. This would be a 52 week high as well. Chart on left is the weekly, while the chart on the right is the daily. I can wait for a daily close above this level or a pull back from this $45.07 close on Friday. The MACD on the daily chart is trying to move higher. For Fib extensions you...
Idea is based on on a combination of median line analysis, basic support and resistance and the use of Bollinger bands. The targets and stop are mentioned on the chart. Trade at own risk please. Haven't been publishing or trading that much guys, life can be quite a hitter sometimes, but I am back! and looking forward to interact with all of you. Cheers Hamza
(Disclaimer: I have posted several short ideas on ES/SPY/SPX since the start of the year - I have played some of them for quick profits, also have gotten burned a couple times; it's safe to conclude that so far, the bullish trend hasn't been broken, but hasn't accelerated either. And even if the S&P 500 just made a new closing high today, it's still stuck in the...
Possible flag breakout. Price left lower bollinger to find nice support on the 50 dma. Looking for a breakout to resistance 6.50. Stop at 5.37
16.53 last 18.00 target 16.125 stop Reasons: 1. Cluster of 5 days where the high is very similar = explosion pattern. 2. Range expansion "UP-bars" on the daily chart highlighted with blue triangles. 3. Range expansion "UP-bar" on the weekly chart 4. Volume building at the 16.50-16.60 level appears to be a breakout level if breached could lead to a...
When medium term volatility index VXV remains expensive while 30 day VIX gets cheap, watch out! Historically it signified local Market tops.
The VVIX (known as the "VIX of the VIX") makes its way down to under 77, watch for the VIX to go back under 12.50 like it did last summer. Is that a guarantee? Well - remember that VVIX measures the volatility of the VIX. If the VIX is getting less and less volatile (as the VVIX channel clearly shows it is) then one can expect that fact to be a product of lower...