S+P 500 has has completed two sharp measured down waves from the all time high of SPX 2940 . Both moves have measured 140 points The first from 2940 to 2800 and now the second down to 2660 area,where it closed on 10/26/17 Believing that 'impulse" sharp waves down complete themselves in 3, that opens the possibility of a third wave down from 2660 area of an...
A Wall Street Journal article from this past week highlighted the Asset Manager's DJUSAG, a basket of their own company stocks, professional money management companies and stock advisors who manage other people's money for usually large associated retainer fees. Chart included shows a sharp and continual breakdown in the price of these managers company stocks...
The VIX completed it's fourth straight week in October 2018 in upside breakout mode, as volatility surged, and price movements in the S+P that took days,weeks previously now occur in minutes, even seconds. Bulls would have you believe we are close to a bottom. They are fond at picking bottoms, and being rewarded Don't buy into their advise. It is way to early...
This Monday October 29,2018 is the 89th Anniversary of the stock market crash of 1929, when investors in the stock lost market lost BILLIONS of Dollars in one single trading day. What happened to cause the crash that day? Sheer panic,as prices never stopped plummeting all day. Those that were somehow in the know, had sold out earlier liquidating their stock...
S+P 500 Futures are rolling over tonight from a nearly 50 point rally on 10/25/18 and are serving notice to the bulls and the bears that a decision is going to have to be made here, Laws of physics set loose on the market break of S=P 2710 will not rest until price reaches the multi year Major Weekly Uptrend Trend Line from Nov,2016 currently at 2625 this...
Nasdaq 100 4 Hour Chart appears to be targeting the monthly April 2018 Low of 6539 The Fang Stock Bubble is only in the early stage of bursting, and price movements that would normally take days,happen now in hours. Witness yesterdays sharp stock market rally, disappear overnight like it never even happened. As the decline get deeper, and stronger, price...
The sharp stock market rally on 10/25/18 was painful to all those bears and shorts who needed to cover their bets, as prices suddenly with little warning blew up in their face. That short covering micro event may have set the stage for another sharp selloff. S+P 500 failed to CLOSE above the 45 Degree Resistance Angle at 2710, closing at 2705 after a late...
Amazon shows a clear and quite BEARISH Chart Formation Head and Shoulders Pattern is in place on the Close 10/25/18. Very sharp snap back rally today looks to have completed the Right Shoulder in the Bearish Reversal Pattern. Immediate Downside Chart RISK appears to be initially back to the recent lows in the 1650 area Of Note: I recently saw with my own...
Stock Index Futures trade much differently than Cash Indices. Price moves in futures are always fast = resolute measured moves, and new movements are always set off by price violating previous target destination points. In futures trading ,everything is happening at the speed of sound, like flying in an F-15 jet. in my overnight research, overnight rally in S+P...
The Dow is now in a THIN AIR DECLINE, on the Monthly Chart. Confirming evidence can be found on the Dow Jones Industrial Average Weekly Bar Daily Close Only Chart It shows we are just over 500 points away.. from critical pattern structure support at 24077.56, the July 2018 Monthly Low. TREND ANGLE Support has been BROKEN on the Dow Monthly Chart at 24800 in...
Nasdaq 100 has Immediate and Significant Downside Risk ! Based on my own proprietary read on the 4 Hour NDX Chart MINIMUM Immediate Downside Move to NDX 6730 Possible ! Abundant thanks to Trader Jay 6336 from Tradingview.com for posting some incredibly illuminating long term charts today 10/21/18 I encourage all traders to view Jay's posts on this site. The...
S+P 500 has continued it's fall off a cliff Decline that I have been warning was probable for the last month. Today the Decline picked up Momentum, and the Critical 45 Degree Angle of Chart Support on the S+P at 2710 was Violated on the Close ! Pattern Structure SUPPORT at 2710 has been obliterated. It's gone. There is nothing to support the structure of the...
DRIP Direxion's 3 X Short Oil and Natural Gas ETF a long time favorite investment of mine, is a dynamic way to play both falling oil and stock prices On 10/23/18, DRIP rose almost 11 %, in just one trading day ! 4 Hour Chart on DRIP shows a multi month base between 5 and 8with a sharp move up in the last month. This h ETF often LEADS ...price movements in...
On 10/17/18, I wrote a post here about the bearish chart implications on Crude Oil, and noted the bearish correlation I was seeing between its declining price, and the stock market decline in October 2018. On 10/23/18. as the stock market fell sharply Dec Crude CLZ was down ..over 4 %... to 66.43, breaking important trend line support at 67.00 Next major...
Pending bear market's have a way of hooking those who do not believe. Yet big money believed, and sold on 10/22/18, their presence felt as they unloaded bank and financial stocks. If they were selling, what did they know ? And why were they suddenly heading for the exits while the buy the dip bulls, believed in the mirage, thinking the Chinese market would bale...
S+P Futures have BROKE Neckline Support at 2744 on the HEAD and SHOULDERS PATTERN I have been writing about on the 4 HOUR OPEN Chart this evening, Pattern break is very BEARISH, unless reversed in 10/23 trading on the NYSE. Downward projections from this break are too early to be known, as it occurred in overnight trading, but pattern has al outside target...
Institutional BIG MONEY took advantage of the overnight bounce in China, to LIQUIDATE large amounts of stock from US banks and the important financial stocks in the XLF on 10/22/18, putting price right down to important support, after a loss of 2 % today. The significance of what happens next this week in the banks, cannot be overstated. A break of support...
The overnight reversal= rally in the S+P Futures ES1 on 10/22 appears at this stage to be the advance that could be forming the right shoulder on a clearly defined BEARISH Head+Shoulders Pattern, seen most vividly on the 4 Hour OPEN chart I keep. By rallying here, rather than falling pattern risk is only increasing, and the danger of such a pattern can only...