Belief is perhaps near complete. The majority now believe the market will not go down. Noteworthy are the upside price moves, when downside price is expected. That exact opposite bullish market response, cements bedrock belief that prices can only go up. When bullish opinion becomes this one sided, when the majority become this complacent, as a trader then I...
S+P 500 Weekly Chart shows an "Ascending Wedge Triangle ( Shown Here) ............a potentially very bearish pattern. Earlier in the week,an upside breakout of the wedge "failed" at 3102.63 The resolution of this pattern suggests the potential for a "thin air decline, if the ascending triangle support line is breached, and closed below, currently at 3075....
S+P 500 Futures ESZ continues to build a very high risk pattern structure, ( Shown here on the 15 Minute Chart) with immediate risk potential for a downside move to 3060 Note the breakout burst to 3102 on Nov 12,to a new all time high has given the pattern a definable top in pattern structure. Price rollover from their has been consistent with a test of...
Greed has always manifested itself in cycles in different investments throughout history. Whether in real estate,precious metals,energy, bitcoin,baseball cards, or 16th century tulip bulbs price overvaluations can reach "extreme" valuation levels, before ultimately "crashing" back down to earth. In this example, its the stock market, whose current 10 + year...
The Dow Jones Industrial Average has closed at an historic high. The price breakout in the Dow is not being confirmed by indicators that should be confirming it's advance. I have included just one of those indicators here for your observation. Note the strong downtrend line shown here in the KST Indicator. Compare that to the continuing uptrend line , and price...
Follow the arrows on this chart. Each one shows a new gap up thrust to yet higher prices on the chart This chart phenomena is called "3 Drives To The Top" As the market was making historic all time highs this week, price breakouts in many stocks are supporting the bullish appearance of strong underlying strength. Human nature being what it is, the pattern of...
S+P Futures are working on a complex bottom formation above 3070, that could ultimately cause a "melt up" above 3100. The current move down from the all time high of 3097.50 on 11/7 is "corrective" to my eye No surprise here here .... that the current small pullback is being accumulated by bullish traders with an "urgency" to get in, who want lower prices...
S+P Futures have turned a potential bearish rollover pattern near 3070, into yet" another" continuation upside move towards 3100. When bearish patterns have bullish conclusions, it becomes "doubly bullish. The market is certainly proving that if they can't take it down, then the bulls will step on the accelerator again and again, and continue to push prices...
Be advised that the S+P 500 Dec. Futures ESZ has set up a "rollover top " pattern potential on 11/5/19 Chart shown here is the 30 minute You can clearly see the.. "structural pattern support line" .. being violated on the break of 3080 today. The potential exists for a sudden sharp "impulse" wave to the downside, in this highly "visible" chart. Market may test...
I use the advantage given to me by the VIX each trading day. to gain valuable clues about future short term market direction. I sit on the 1 minute VIX throughout the trading day. Kinda like reading the tea leaves in real time. This can be quite an added advantage if you know what to look for. Let me give you are current example. Note that the VIX has recently...
Look very closely at this chart... It shows the Volatility Index or VIX, Fear/Greed Index on a Weekly time frame going back to the fall of 2016, and the election of President Donald Trump. I am not observing politics here, I am talking about strict economics. That is exactly when the stock market in the US took off to the upside and except for a sharp shake out...
I could have written this after the market close yesterday, written it in my sleep if I had to, yet decided to wait for confirmation this morning. The Monthly successful retest of September High at 3021.99 Support on 10/31/19 and the close at S+P 3037 technically confirmed the Bullish Breakout in October. With this mornings strong upside gap breakout to 3050, a...
Buy, Buy, Buy. The Fed in the US just lowered interest rates another .25% Did you hear..? The spoonful of tonic is always there in case anyone feels the slight bit nervous about anything financial. Drive those prices up, so more investors can feel the wealth, of that trickle up kind of effect. Nothing like security to coat the financial system with sticky...
This weekend, in reviewing my charts that I keep continuously I noted they were showing a Bullish Chart Breakout from Friday 10/25/19 So it came as little surprise then to me, and those who I informed that the S+P 500 gapped up on the Open today and then closed at an historic all time high at 3039.42 Yet, The Dow Industrials failed to close at a record today,...
The Nasdaq 100 seemed to be looking at a sharp down day on Friday, Oct.25 after Amazon' released earnings after the bell on Thursday that fell well short of analyst expectations. In after hours trading Thursday night, AMZN had fallen over 100 points so the bearish case seemed to be playing out as expected However, after a brief opening dip, a peculiar thing...
S+P 500 came within a fraction of an all time high today. Monthly RSI continues to a show a compelling and striking bearish divergence,under trend line resistance from early 2019. A rather simple technical point for you to consider. Um, they usually don't ring the bell, quite this way warning you to get out ...before it's too late. However, in this case, I...
Verizon Wireless is allowed to operate a truly a corrupt business in every sense of the word, leading the list of most hated consumer companies for a decade now for a reason. I recently went thru a truly ghastly experience with this company simply trying to cancel my monthly Wireless Prepaid Cell plan. You see with this company, you come to find out that they...
The Nasdaq 100 is near the cusp of a potential "Island " Bearish Double Top Reversal, one of the most bearish technical patterns out there. A sudden unexpected breakdown in the pattern, at anytime would cause price to cascade literally straight down like domino's in a waterfall type decline. Opportunistic traders who seize this "gift" opportunity to short...