Looks like DJIA coming off resistance down to yellow support. Weekly has some work to do yet.
I am not exactly sure what happened here but he carry trade to SPX correlation broke down in dramatic fashion on the same day we had the epic ramp in stocks. Following this with interest.
I am hoping that this is a double top here on the Dow. It is very clearly a range here. It should mean revert back to the flat kijun sen and then maybe overshoot down to test the range support. See if the rejection is confirmed next week.
Sometimes I like to look at things like $USD Index with double bollinger bands. I don't use them a lot but it can be interesting to see at certain times.
This RUT monthly chart is in a confirmed top reversal. The coppock is clearly crossed down. As you can see there is a rejection off the flat kijun sen.
This is my SPX mth study with Heikin Ashi with 35 MA. This just a different take on the monthly chart. Shows a bit more information that I can use in combination with the other chart studies.
This is just a basic weekly with 50 MA. It is as simple as above bullish, below bearish. This is a no brainier chart but very useful for quick reference.
As we can see on the VIX daily chart here there needs to be a break of either support or resistance. Until then we wont really have a good idea of direction. My bet would be a a break of resistance but then it all depends on oil.
I am looking for a possible rejection on this VTI weekly chart. This is a very good indicator chart. See if we get the rejction
On this SPX mothly chart I am looking at the coppock curve to cross below the point of control and the key 1900 support level which is the floor on the domed house. I am looking for a monthly close below that 1900 level. Lets see
This is my SPX weekly megaphone that I am watching, Interesting to see if we do get a test down to 1800
This is my SPY weekly breadth study. You can see that breadth has found resistance at the point of control. It will be interesting to see what happens from here.
This chart is most interesting because I expect at some point the SPX will reconnect down to TNX to close that divergence. Lets see
I am watching the coppock curve on gold monthly chart here. As you can see there is resistance at the flat kijun sen. Looking for a breakout there as well. There was a test of resistance but it settles back to the kijun sen by the close of the March candle.
This FDX weekly charts is one of my favourites. When I see a double top it is a very good indication that there will likely be significant downside. Lets see
This is the main chart that I am watching at the moment. It has all the information on it that I need to see the markets direction. The main drivers on this chart are oil and JNK (junk bonds). As you can see stocks SPX have diverged to the upside while USD/JPY has diverged to the downside. I am watching in particular for the JNK support to break down with oil. It...
Interesting measured move here on $DJIA. See if this is a turning point.
The 10 yr yield bounced off support but not convincingly so. See how it goes this week