Looking at the daily chart of the S&P 500 we can see that the index is coming up to re-test the 200 day SMA. The Advance Decline line is coming up on an important point in an ascending wedge. The Pring Special K is also at an important point, a resistance level that hasn't been seen since June 2016. A break through the resistance levels on both indicators and the...
We are currently floating right along a long standing support line. If the Fed does indeed raise rates I can see this ratio falling below support and finding its next support around the 1.884 level. Following what the fed does, silver is either going to shoot off the current support or it could free fall for the next couple months. If we do fall and reach the next...
Here is the ratio of the 2000 small caps vs the 1000 large. Looking at the chart we can also see a double top, tipping us off back in June that the trend may be shifting. We then saw a signaling of weakness in October with a later confirmation earlier this month. The second support was broken along with a trandline in the Pring speacial K. With the measure from...
This chart shows the DJT and the DJI. The transportation index has historically led the industrials. I expect the industrials to follow transportations on its way down in the coming months. End of the year rally could support the industrials, however; going into 2019, barring any big news on the trade issues, I see the US markets falling significantly.
In the hourly chart there is a head and shoulders pattern with a neckline around 1.13562. Neckline to the top of the head is 117 pips away giving a minimum extension from the neckline of the same distance. Impulse Elliot Wave shows sign of strong downtrend as well. If it breaks the previous low of 1.13268 I see this as a confirmation to the head and shoulders...
