ChristieCapital

ChristieCapital

A break below 84% would be a warning sign as we remain elevated near historical highs. For now, we remain bullish.

ChristieCapital

USDCHF has done an impressive reversal. The pair finally broke away from its short-term consolidation between 0.899 and 0.9185. We have been watching for a break of the rectangle pattern for quite some time. 0.9185 has now become key support in the rebound. Look for a continuation higher towards targets of 0.9375 and 0.9515 in extension.

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The USDCAD has started to rebound after breaking above its 50-day moving average (In Blue). As long as 1.3035 remains support, look for higher price action towards 1.3505 resistance in what could be the start of a major rebound higher.

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The pair broke a key rising supporting trendline in place since March lows and is now testing overlap support at the 1.275 area. A break below 1.275 would put further pressure on the pair down towards 1.251 and 1.2245 in extension.

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breakout in the # of SPX stocks above 200 day MA

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Breakout play!

ChristieCapital

On Thursday, Applied Materials (AMAT), the global leader in materials engineering solutions for the semiconductor industry, is expected to post 3Q EPS of $0.94 compared to $0.74 last year on sales of $4.2B vs $3.6B a year ago. The stock has an expected move of 5.2% and dropped 4.4% after the last earnings release. The stock has 22 buys, 5 holds and 0 sell...

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Looking at a daily chart from a technical perspective, the stock remains bullish as an uptrend is starting to take shape. In the short-term, prices have been in a consolidation zone between $152 and $121 since the last time the company reported earnings. Look for a break in either direction. A break above the consolidation at $152 would call for a resumption of...

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Price action is trying to remain above a rising trend line in place since the March low at $7. The preference is for a rebound towards 19.30 if the earnings loss is better than expected. If $12.50 doesn't hold, look for a retest of the $7 March low.

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Square has been in an uptrend supported by a rising trend line in place since March lows. Recently, the stock broke above a symmetrical triangle bullish continuation pattern. The measured move of the triangle breakout is at $160. If earnings are a miss, a break below 116.85 support could signal the end of the uptrend.

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Looking at the chart, prices broke above a declining trend line in place since January of 2018. The 0.618 Fibonacci retracement level from the swing high of 0.814 and swing low of 0.551 is being tested as resistance. A break above could have strong bullish implications towards the next major resistance area at 0.7365.

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Key resistance is set at 1.267. A break above 1.267 could open a path towards 1.275 and 1.28 in extension.

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A cup and handle continuation pattern may be forming. Price action has been consolidating since the prior uptrend took a pause. A break above key resistance at 1.1423 (Green line) could pave the way for a momentum trade towards March highs around the 1.1495 level and could signal a resumption of the uptrend in the EUR/USD.

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Who saw this move?

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Looking at a 4-hour chart, the AUD/USD remains in an uptrend supported by a rising trend line. Prices just broke above a classic symmetrical triangle continuation pattern. As long as support can hold near the 0.69 level, look for a continuation higher towards 0.708.

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As long as 1.241 can remain resistance and the declining trend line is not breached to the upside, we will continue to ride the trend lower. Look for a retest of 1.2255 support and a possible move lower.

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Thursday’s trading saw all major U.S. indices confirm an island top reversal pattern after the formation of an exhaustion gap on the 5th of June and a downside breakaway gap that confirmed in today’s trading. The S&P 500 also confirmed a bearish Belt-Hold Line candlestick. The S&P 500 has now turned bearish from a technical analysis perspective. A close above the...

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Looking at the most active pairs, the USD/CAD jumped an impressive 208 pips to 1.362. We have to look at a daily chart in order to see its impressive rebound in Thursday's trading. Traders playing the rebound may want to consider a stop-loss at the high of the bullish hammer reversal candlestick that formed on Wednesday. Key resistance can be seen at 1.385.