“The world has produced a lot of wheat and that has been reflected in prices during 2016,” said Nathan Cattle, managing director, Clear Grain Exchange.“Looking to next year, it is hard to see those supplies dwindle but consumption is expected to be at an all-time high so any supply shock could reverse the recent trend.” The US Department of Agriculture earlier...
SPOTTED SPY DESCENDING TRIANGLE SPY Chart on a 60min timeframe suggests a descending triangle pending imbalance to the downside. The descending triangle structure constructed a high volume node through mutable weeks of rotations acting as distribution zones. In recent sessions, a downside break of the base of the structure signaled a change in hands of the...
50 Simple moving average on a monthly has been breached. The last time the 50sma was in an upward sloping fashion with a downside break in moving average was 2008. By the way, is the second largest US-mall REIT.
2nd Largest US Mall REIT Breaks 200sma Support. It's time to start worrying about the consumer.
Biotech Descending Triangle. Overhead Supply Unlocks. Industry is unstable when interest rates hike.
Stay above 2.49 increases probability for 3% rates
Use 50sma as line in the sand for directional hint.
OIL’S DAILY PRINT: SHOOTING STAR What does it mean ? Shooting star (candlestick pattern) In technical analysis, a shooting star is interpreted as a type of reversal pattern presaging a falling price. The Shooting Star looks exactly the same as the Inverted hammer, but instead of being found in a downtrend it is found in an uptrend and thus has different...
Overall, bump and run top reversal w/ lead in phase on 3 candle bearish setup pending evening star. This comes at a time where speculation headlines of AAPL may start producing iphones inside the US could be a massive margin killer to the bottom line.
18YR SUPPORT BREAKS IN MEXICO’S STOCK MARKET Ishares MSCI Mexico Capped ETF on a monthly perspective has violated an ascending diagonal support line existing since 1998. On the Y-Axis a bulk of the stock is situated in the p-shape distribution >46 with current fair market value at 43 this risks overhead supply unlocking. We used the Fib-Retracement tool from 1998...
Consecutive Down days hit 9 on Friday surpassing 2008. Now it stands at 9 at par with 1980. The record is 12 in 1966 where a 16yr bear market followed.
Head and Shoulders in Biotech Index now rejecting the 200ema support.
Right Angled Descending Broadening
Monthly candle print will confirm very bearish setup. 2008 GANN rejecting 2x1 and 1998 Gann rejecting 3x1 could signal rule of angle migration to mid 30s which would be 1998 4x1 support.