As expected with last week’s idea post, the correction phase is underway, and it is rather massive with a Gap Down of -1% to open the week.
IF the momentum continues, this is very bad news for the equity markets. The current outcome and probable continued momentum is triggered by the weekend surprise of Northern Italy COVID-19 outbreak and lockdown, as well as...
Have you seen it?
It’s on the weekly chart, and all we need is the coming week to be down for a bearish reversal confirmation pattern to complete the DARK CLOUD COVER
Technicals not yet supportive of a bearish trend YET, understandably as candlesticks are the first price indicator to give the heads up. Bearing in mind (pun not intended), that the recent rallies...
Yes, the Shanghai Composite had a massive Gap Down after a two week Chinese New Year break due to the COVID-19 (SARS-CoV-2) outbreak in Wuhan, Hubei, China. Since then, week after week it made momentous recovery up to close the gap this week. While this is seemingly bullish, and is technically starting to pull the MACD bullish, I call a bluff. Here is...
Just happened minutes ago, the topping pattern of a High, Low, Lower High, Lower Low, Lower High, and then a Lower Low just completed and then it gave up and did a huge Markdown.
MACD has given an earlier indication of a drop, after pattern completion.
THIS IS a topping pattern, and it is of high probability that the S&P500 topped out.
Now waiting for it to...
DBS is very weak now. Having bounced off 25 twice in recent time, it failed to make higher highs, failed the 55EMA, and is likely to revisit 25.
MACD supportive of bearish bias.
Going for a bounce at 24.50, and to consolidate at 24 for deliberation of a possible major rally to 40.
Yet another “lead” indicator of the historical rally in equities. A good heads up to the real underlying trend.
The TLT ETF just broke out in multiple time frames, weekly & daily.
Heading to the top of channel just like in early 2016!
XME is the metal and miners ETF. See reference info here.
It is Not Yet bullish, nor rallying, But appears to need to close above 27.50 for the week for it to properly attempt a technical bullish rally...
The GULF ETF is breaking down of a long term up trend line.
The MACD and OBV are supportive of this breakdown with cross downs.
Something is happening in the ME... and while Crude is rallying like no tomorrow, I see something bad brewing! It’s almost like a warning of sorts... heads up!!!
Reference ETF Info here
Just building up, the GDX Gold Miners, which were lagging Gold prices for a while, is now on the verge of a breakout... from a tilted Cup & Handle Pattern, as well as a Triangle.
MACD and OBV are bullishly supportive, and momentum is strong.
A breakout sets an upside target of 32.50.
Enjoy the ride!
It appears that the Chinese Yuan is to devalue (much) more.
Fundamentally, the Chinese governement is coming up with countermeasures to offset the effects of the SARS-CoV-2 virus outbreak; which has also disrupted global trade activities.
Technically, the USDCNH chart is on the verge of a break out, with MACD and OBV poised for support.
Target for USDCNH is 7.15...
Crude Oil futures /CL have bottomed out and appear to be rallying up to 56, at least; with a resistance at 60.
The MACD and OBV are supportive of the move, and the daily chart registered a double bottom with a recent high breakout.
Chart speaks for itself as it is an obvious reversal pattern. Confirmation there is a higher low, and it break the next high.
Technically, the S&P500 (and its corresponding /ES futures) are bearishly divergent iin the MACD in fractal time frames of 1h, 4h, and evenn Daily charts. Shown here is the 4h chart of /ES and it gapped down in Asian opening hours after a lond weekend holiday. This appears to be a Gap and Run scenario, at least at this point of time.
This move appears to have been...
After doubling (from my point of entry) in price over the last 6 weeks, I closed off the open trade at a doubling, and as expected, the retracement came. Today it is down 10%, albeit faster than expected. Nonetheless, would be looking for re-entry later.
Ethereum is retracing, and rather strongly at that.
Have taken off the earlier trade in anticipation of this retracement.
Weekly chart still appears interact for the bull rally of 2020.
Looking for re-entry...
Bitcoin is retracing, a healthy and much needed recoil.
Cup & Handle pattern is not done, and weekly charts indicate a longer term continuing up trend.
This may be an opportunity for those who missed the previous upswings...
Gold prices had been consolidating within a triangle and it appears just about ready to break out of the triangle. Marked out the breakout point on the chart, and on the triangle.
The Sell signal should be invalidated and next week brings a new Buy signal.
Clearly MACD is bullish and supportive of a breakout!
Good upside to 1780-1800.
Gold is rallying very hard, and the GDX Gold miners ETF is lagging behind. It is only a matter of time before it catches up, and is already beginning that catch up journey. This morning, it is up 1.5% and launching off, after a higher low bounce off a support region (grey box). Technicals are supportive, as is correlation to Gold prices. The MACD crossed up after...
A month ago, gold started a rally after some consolidation. For the month of January, it was consolidating, and...
TODAY is the breakout for the major leg to 1800.
Technicals are favorable again, with MACD crossing up.
Gold just broke out of a triangle too.
There is much fear and equity markets are way overextended.
It’s about time for gold to shine yet again.