I may seem that Alibaba might be back for good. After long term market manipulation to the downside which "concluded" to a 30% drop from $120/share to $77.77. The stock has surged back up 6% thus far today. Yes the numbers from Q1 2015 were good and revenue was up 45%. At the end of the day we have to be logical and understand there are other forces at play when...
In the grand scheme of things it looks as though a shift is ready to take place. It has taken me some time to realize that shift but it is finally here. Take look at the GBPEUR to the left. Notice how its price moves are converse to that of WTI, EURUSD, and XLE.
The yellow circles you see are areas where similar behavior is forming. In the GBPEUR the opposite...
In the grand scheme of things it looks as though a shift is ready to take place. It has taken me some time to realize that shift but it is finally here. Take look at the GBPEUR to the left. Notice how its price moves are converse to that of WTI, EURUSD, and XLE.
The yellow circles you see are areas where similar behavior is forming. In the GBPEUR the opposite...
I have been running a correlation between the Energy Select Sector SPDR ETF (XLE) and the Oil Vix (OVX). it is running at an interesting multi-year support and resistance level. We can see the formation of a double bottom at this level. The move on the price of oil will be determined by what happens at this level in the XLE/OVX chart. This correlation has been...
Oil markets are ready to turn. I have highlighted in the purple box a bullish Hammer formation on the monthly chart of OIH. As we know patter or chart formations on long term charts are a very powerful symbol of what is to come. The hammer formation we are witnessing also happens to come at the tail end of a long term down trend Hammers are very powerful tools...
Looks like there is still some downside in WTI. Bears have been reinvigorated as price are falling below the S1 pivot towards the S2 pivot. Volume Profile is showing much action towards the lower range of prices. As volume is showing positive divergence with the move towards the downside. Bulls are fighting to bring prices back towards $52 which I see as the true...
