I'd watch for 6.20 PT on this one. Got smashed a little harder than it deserved during the selloff with the inverted yield curve last week. I Bought some 5.5 and $6 calls. Already cashed some of them in.
The S&P 500 index will form a golden cross formation on or about March 29th, this Friday. This is a bullish indicator when the 200 day moving average crosses the 50 day average after forming a death cross previously. A death cross is the opposite of what we're seeing here, where the 50 day MA crosses under the 200 day, which is a bearish indicator.
EGY is forming a bullish pennant flag. This is confirmed with an approximate price consolidation within the red triangle on the chart. Interesting part is that the flag intersects the day after earnings. Implying a nice setup.
EGY will form a death cross either later in the trading session today or early tomorrow. Set a stop loss at 1.59 and rebuy on the rebound at 1.55. There's a huge potential floor beneath this. Long in the mid term, short in the short term.
Watch out below, more pain is ahead. The S&P 500 $SPX will form a death cross tomorrow with the 50 and 200 SMA's and we're basically all fk'd. Make sure you have stop losses in place for any long positions, look for overbought futures for a short position. HOLD ON TO YOUR HATS IT'S GONNA GET BUMPY
I only posted this because many of you are posting incorrect charts. The inverse head and shoulders pattern is a bullish reversal pattern of a downtrend. It is NOT a bearish pattern as some of you have suggested.
TWTR is bouncing off of that oversold bottom bollinger band (just as expected); well below the 90-day MA. Plenty of volume and now that the dust settles from hearings I give it a 35.75 short term price target.