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Well, this one broke the long term Monthly trend and the shorter term uptrend last week. Higher interest rates plus tariffs a double negative for new home construction. Now something to keep on the horizon, all the hurricane construction. This sector likely to get a stimulus rebuilding the South East. On the flip side, I don't see Bonds at support yet so there ...
Friday put in value at the top of the range with a text book 3 day bottoming reversal formation. This sell off came right down to the expected 100% down side move from the consolidation break. There is some reason to think the internet stocks will stabilize at least into NFLX earnings this week. Internet is still holding the intermediate trends well. The big ...
Well, if last year is our blue print retail likely weak into November. My charting suggests we crossed bearish on the intermediate time frame last week. It is barely holding the short term up trend. This looks like a topping formation to me with the 45.50 2018 open back in the cards. There is little doubt retail is holding up better than Transports. Retail is ...
I know other analyst are only calling for a $69 cycle correction. My charting suggest a much deeper draw down into the $65 area into December. Everyone and their brother is pumping up the Iran embargo. I believe it to be a non-event. Actually, I expect this to be a sell the news event. US inventories are built up solid here.
TLT isn't at support yet. This is not good for a bullish scenario in stocks. Looks like everything is lining up for market weakness into Dec.
We slightly crossed negative for the year in the Airlines this week. Transports are suppose to lead bull markets hire. This is not a great signal.
Rail Roads are now negative for the year. That is something to take note. Transports are suppose to lead bull markets not lead to the down side. Likely more pain this week and into Dec.
I have this technical low a worse situation than the last 2 times SMH bounced at this level. We Broke the intermediate trend this time. This suggests to me Semis lower into first of Dec.
I suspect market weakness this week. I personally believe the real opportunity into first of Dec is short AAPL for the time being.
NFLX is at top of it's trading range. They are going to have to blow the doors off with their numbers to save price here. Remember managers for 2 quarters now warned weak numbers. Reality is about to take hold. Rough quarter looming ahead.
I just know they been accumulating calls down at these levels. Now this is not looking like a great quarter for casino industry globally but this is due for bounce here.
MSFT cought yet another upgrade today. If any stock is poised for new all time highs the chart suggest this is the one. Very Very Bullish if the market decides to do the run up into earnings.
FB is a value play right here. It held up well versus the over all market this week. It came down to a triple bottom this week and it tagged the longer term trendline and fib line. Lot's of reason to think at least a short term bottom is in for a earnings run up.
This internet ETF is close to cross out of the bearish phase but not quite yet. Odds look good first of the week that FANG will turn the corner. Just be careful assuming the down trend is done. The 1 hr down trend could easily just get another leg lower once it touches trend change. I for 1 think we see an earnings run up in the markets next week. We just ...
Careful, pushing this to the long side. Even the 1 hr chart shows us the downtrend is intact. Charts like this are extremely dangerous to swing to the long side. I personally go by the rule, at least the 1hr chart has to confirm a trend change.
FFIV This afternoon had bullish earnings reiteration this afternoon. This is the likely bounce point I would expect for an earnings run up.
Next week looking set for bottom fishing. If markets catch the earnings season bid this tops my list for buyers.
Well, this one looks set for an over sold bounce. I'd much rather be a dip buyer into this quarters earnings season.