In important turning points in social and political behavior, over the last 100 years, a fundamental sea change in mass psychology which manifests itself seemingly almost overnight, can and does impact financial investment suddenly,... with little warning. I may be early,... and the technical pattern may not have turned bullish.. yet but I am suggesting you...
S+P Futures have built a "Diamond Coil Compression" pattern overnight,that could open up quickly to the downside, if price breaks outside "diamond" support at 2919 ( See Enclosed Chart) It will take volume to cause the break, so watch the futures carefully, when NYSE opens for trading on 10/2/18 The pattern is a greater fool pattern, because traders don't...
Crude Oil Futures are rallying strongly,in a V bottom formation throughout 2018, now back to $75 resistance on 10/1/18. Longer Term Chart of Crude shows that the price could be re-tracing back to the important prior yearly high of $90 a Barrel. That scenario would certainly have inflationary headwinds, for transportation business in added cost expenses as well...
The Bulls seemed totally in control this morning.. on a 12 point gap up opening to 2926 with a run to 2937.06 High in the S+P 500 on the news of a new US- Canada-Mexico trade deal. Yet this afternoon, to the dismay of many who needed to get long this morning, a strong burst of institutional selling, seemingly out of nowhere has brought the S+P back to the 2920...
October,.... the infamous month in stock market history made notable for market crashes in 1929 and 1987.. is now here in 2018 The economy is booming,with near full employment, strong consumer confidence, historically low interest rates and businesses reporting record earnings, quarter after quarter. Hardly the type of environment for any caution, or so the...
Citizen's of The United States were riveted to televisions across the country yesterday for the confirmation hearing of Supreme Court nominee Brett Kavanaugh. For millions of citizens, it seemed not much else mattered. Dr.Christine Fords testimony was both compellingly honest and truthful to my eyes, while the nominee's testimony was both defensive and...
SEC has indicted Tesla's CEO Elon Musk regarding his infamous tweet disclosing that he had the necessary financing to take his company private at $420 Stating that his "social media" announcement caused "significant confusion and disruption in the marketplace resulting in harm to investors "the SEC has filed to remove Musk from his title of CEO of the company...
The Dow Jones Industrial Average made a new all time high of 26769.16 last week. However, this week, on consecutive days the DOW has fallen and breached the prior all time high of 26616, and closed at 26385.28 on 9/26. What the Dow has done by re-entering and violating the support of the prior Dow high 26616, is to put the prospect of a "false breakout" to the...
S+P 500 has reversed from its all time high, suddenly, with little warning in a persistent and new downturn that seems to be building momentum by the day. Certainly impacting this reversal of fortune in the US market may be the pending NO vote by the Senate or possible FBI investigation of Supreme Court Nominee Brett Kavanaugh, as that could inspire a avalanche...
S+P 500 has reversed short lived gains on 9/26 just past 2929 Resistance. which upon breach, held like a rock, further quantifying 2929 as major resistance at that price level, and is now dropping sharply into the close, below 2910 Support, after the Fed raised rates .25 %.today, S+P 2900 will now be the next level of major support as traders may sense this major...
S+P 500 has retraced 28 points from it's all time of of 2940.91 last week. 2 Hour OPEN chart on S+P 500, by it's construction, clearly shows 2929 has now become RESISTANCE on any rally. That leaves open the possibility of 2929 becoming a Secondary Top, below the all time high, although it is much too early to know. A rally beyond 2929 would be bullish, and...
Natural Gas is entering its seasonality play, with the fall beginning today, and heating demand in the Northeast around the corner. Traders jumped on natural gas last week, and have potentially put in a H+S bullish bottom just below $3.00 BOIL, Pro-Shares Leveraged Natural Gas ETF , offers traders an opportunity to participate in what could be a breakout play...
VIX CBOE Volatility Index, is back above 12 on 9/24/18 and with it the possibility that last weeks breakout in the S+P above 2920, may have been a "Bull Trap" false breakout of 20 points up to 2940. VIX 9/21 /18 12 Noon EDT VIX OPEN at 11.11 when the S+P was at 2937.06, now marks clear short term bottom in the VIX. THE_UNWIND
I-Shares United Kingdom ETF EWU has built a Bullish Cup Pattern, as seen on the included chart. The next decline could form the "handle" on the pattern, which would then form a completed "Cup and Handle" Pattern. Daily Volume in this ETF is over a million shares, so plenty of liquidity for traders. A near term bullish breakout in EWU would project this ETF up...
Nasdaq 100 Dec.18 Futures, have gapped open to the downside in 9/24/18 trading, continuing a clear short term rollover top chart pattern as shown here on the 15 minute chart included in this post. Rollover pattern began on the Open on 9/21/18 perhaps associated with Quarterly futures +options expiration, on all 3 major indices , Dow + S+P and NDX, But Not...
Nasdaq 100, which includes the large cap FANG stocks, lagged the stock market breakout to new highs last week, putting in a short term rally double top at 7580, and surprising the bullish crowd with their price action all week. For the market's leading sector, the technology stocks to weaken, and not rise against the backdrop of historic all time highs in the...
S+P 500 breakout on 9/20'18 is significant, because it opens the door to a much higher price targets of S+P 3042.79. Upside Projection can be measured by connecting the 4 Hour High on 6/11/18, with the 4 Hour High of 8/29/18 at 2916.50,and drawing Trend Line Out to 3042.79 destination. I just verified this trend line today, after the breakout to all time highs...
Dow Industrial Average, has broken out powerfully to the upside over the last couple days, to lead the market higher this week, on the back of higher interest rates. The psychologically key U.S index, is now remarkably within shouting distance of it's all time high of 26616 reached in January 2018, having now retraced nearly all of it's decline,from it's...