Just posting to display a couple interesting graphics together. Today the FED announced that there will be no rate hikes in 2019. I think it's interesting that the FED did something similar exactly a year before the 2007-2008 crash.
Price action failed to break the downtrend after finding support on the 300dSMA. I'll be looking for a bounce on the longer term uptrend or a retest of the 300dSMA. Additionally, I'll be looking at the weekly RSI to reach and rebound of previous all time lows as seen below.
I've presented a cross comparison between the S&P 500, the 10-2 Treasury Yield Spread, and the FED Funds Rate. The yield curve has been effective at predicting recessions in the past. I think the next will be no different.
There is a lot of fear at the present moment that we may be on the verge of a market crash. We have seen a large correction that is likely...
Due to the lack of volume I see this current set up as a rising wedge with a likely break down coming this week. The catalyst will probably come on Wednesday after midterm results are out. Regardless of the results I think at best this will continue sideways though the week, and at worst, another leg down.
There has been a lot of negative talk about Bitcoin lately, not unlike any of its previous bear cycles, so I thought I'd post this to spur some excitement over the potential future of this great technology. I strongly believe that Bitcoin has a very long term future for the following reasons:
1. Bitcoin is software and software is incredibly adaptable. Its only...
May have a measured move down as drawn. Look to buy at historical support points shown. I'm still fairly confident that when Bakkt launches it will become a popular trading vehicle for traders that have cashed out on their equities positions.
TSLA looks like it may have found support on the 200 WMA. The bounce was accompanied by good volume and was near a support trend line.
A strong bounce after a 9 count bottom is very bullish.
I'm also going to be watching closely for the possibility of an inverse H&S confirmation.
While volume still looks strong we are starting to see some divergence on multiple indicators. I'd wait for this to cool off before going long. Tomorrow might be the day to go short. I wouldn't be surprised if it was up PM and started heading down after open.