With the US elections tailing off in the count, clarity is setting in and markets are pre-empting what might be. The EURUSD is stacking up as a sandwich pattern and such patterns typically reverse in a downtrend.However, the last week’s price action was strong and decisive, and appears to break patterns. At this point, the EURUSD is bullish yet again. Although not...
Events in the last couple of days, namely the US lame-duck-type of elections outcome have triggered a series of market movements. Gold appears to be breaking its longer term pattern to form the cup handle, and is breaking out of yet another wedge. This break out appears technically legit as gold failed to make an expected lower low, but bounced strongly off a...
Note the fuchsia ellipses, which were my immediate downside targets for the ES1! is now seeing the Index bounce between these two levels, and looks like it is about to keel over and breakdown. Watch the MACD breakdown the support trend line (red)... followed by a decent attempt to breakdown of 3200, the critical support.
Good Game... the DJ Transportation Index has broken down the up trend line. Sell signal on the ATIS system should be out soon. And MACD is crossing down into the bear territory. The BMT had already given way in early October. According to the Dow Theory, the DJ Transports is a leading indicator and well, expect the rest of the market indices to follow.
Comparing the end 2019 into 2020 VIX technical pattern, there is a similar consolidation, followed by a breakout. Even the MACD and BMT ( custom relative strength and momentum combines indicator ) set up appear similar for both scenarios. ( Ignore the Buy Sell signals, they are not reliable on the VIX chart ) Does this suggest a blow up of some kind in the...
Previous talk about USD destruction, etc. have come a long way, and the USD indeed has devalued due to fundamentals. However, it broke out of a falling triangle/wedge, tested and is on the break out. For whatever reasons, the skew in the markets have pushed the USD too far down, and it is time for a USD rise. Clearly, sparked off by fear and such... so much so...
As previously analyzed, Gold topped out and is due for a really good pull back. It is doing it just that now... as earlier expected. See related ideas for earlier analyses that indicated today’s showing.
Long time no update for Silver. Silver just broke down. Downside target of 17-19 range.
A quick note in the anatomy of the Gold Miners breakdown... Basically, the USD is ↗️ the SPX / Equities are ↘️ The Gold Price is ↘️ Miners cannot hold out in such scenarios, and technical breakdown mapped as in chart.
As expected weeks ago, the S&P500, and the futures ES1! , showed a mini-rally, and a very suspicious one at that. The last week not only fell flat, it closed down with a bearish candle for the week. Technically, MACD has crossed down and remains down trending, albeit slightly. The Top8 traders Net Positions (yellow line, lower panel) had already broken down of...
Gold GC1! weekly chart is showing a rejection about the triangle resistance, as it ended the week slightly positive, but in a gravestone doji-like candlestick. MACD is pulling back as well. The Non-Commercial Net Interest (bottom panel, orange line) is rejected at the resistance and staying within a triangle. Watch it for the possible breakdown in the weeks to...
Chart shows the weekly BTCUSD breakout that happened in 2020. Retested the triangle breakout, it is well on its way up to 26,000. MACD is about to support in a breakout as well. This weekly candle has about 20 hours to go and should be ending is a marubozu type of candle... BULLISH. Appears to be a good consideration to accumulate on pullbacks. Set your alerts.
BTCUSD had popped up when PayPal disclosed their adoption plans. A surge in BTCUSD (and friends) took place and it is appearing not to follow through too eagerly. Volumes speak much about a tired bull here, despite being fundamentally legit. MACD although is supportive, it should be hitting a resistance soon too. These, when firmed upon a last spike over the next...
Breaking out on PayPal adoption news, this appears to be a legit breakdown to a new bullish trend but in the shorter term may run out of steam. With all systems go, and bullish MACD to support, only giveaway is the volume which is suspect of a consolidation within the triangle drawn. Perhaps a chance when it comes? Stay tuned...
The weekly S&P500 futures ES1! chart at first sight and impression is bullish. Candlesticks pattern for the last three weeks collectively show a rebound momentum that ended the week at the top of the momentum, expecting to continue. The historical high appears to be challenged soon. Albeit the MACD is crossed down, the continued momentum may trigger more...
The Gold GC1! Weekly chart shows a repeated pattern where a corrective wave forms a wedge and then breaks out. This has had happened previously, and it is followed by a relatively strong bull rally. Also plotted are the net positions of the Non-Commercials and the Top 8 Traders, according to CFTC data. And again, it shows a repeated pattern where there is a...
Yesterday, BTCUSD Bitcoin and (most) friends broke out of formation on a bullish rally. This is concomitant with other asset classes on the bullish move as well, while inverse asset classes moved accordingly as well. This move also breaks the expectations of the previous post. The chart shows how an earlier steep breakout in July resulted in a strong retracement...
The USD index turned bullish last month, retraced and appears to be ripe to rip. Over the early part of this week, the USD index formed a piercing pattern just after it broke down the 55EMA (orange line). A gap up followed today’s opening, and if this follows through, then bullishness of the USD is firm. Consequence to the USD upside includes a weaker S&P500,...