The NDX did something it should NOT have done in 7/27 trading ! After breaking out above resistance of a rising wedge pattern to the upside, earlier in the week, in what is now a FALSE BREAK OUT THROW OVER BULL TRAP ! NDX fell sharply back below the prior resistance deemed support, and then sharply broke THROUGH the other side to the DOWNSIDE ! IT SHOULD...
Facebook has lost over 110 Billion Dollars in Market Value,.. in less than 24 hours. Just think about that for a moment... That stands to be the greatest loss in value of any company in a single trading day ever ! Amazingly, this was proceeded by a breakaway gap to the upside on 7/25/18 a "Island " move to the Upside, to a historic high of 218.62 It doesn't...
Nasdaq 100 Sept/2018 Futures ( NQU18) fell 141.50 points from Historic Contract High of 7530.00 to 7388.50, in a little over 2 hours of trading in after hours on 7/25/18 Facebook, one of THE FANG stocks dropped a bear market 20 + % after earnings shortfall, and surprisingly sharply lower guidance. A blow off rally close in the $NDX above 7500 was accompanied...
S+P 500 Opened 7/24 with a breakaway gap to the upside at 2820.68, before climbing to 2829.99 High. However, 2 Hour RSI DID NOT Confirm today's price breakout, S+P retreated to 2811.12 Low this afternoon, before closing at 2820.40 Note; Today's Close was Below Today's Open, adding a further Bearish Omen to 7/24 Trading ! Using today's high at 2729.99 as a...
ESU18 S+P Futures Sept.18'EMini could have double topped at today's high of 2797.75 In after-hours trading on 7/10, the futures just dropped 10 + handles in less than 10 minutes to 2785.50. I saw a large 50 K Block trade in SPXS at 24.39, just prior to the futures sudden drop. Watch RSI Closely, and use any unconfirmed rallies on 7/11/18 up to 2797.75 to enter a...
If one is looking for reasons why this supposed aging bull market cannot go on, and continue much, much longer than the conventional wisdom would portend, then I am suggesting that you look immediately at the new found, and potentially strongest industry group to lead the next phase of the bull market, THE BIOTECHNOLOGY STOCKS ! On 7/6/18, BIOGEN Gained almost 20...
S+P Futures are locked tight in an ascending wedge, a triangle formation,where a downside resolution is the technical expectation. Price movement being compressed tighter by the hour ! into a pattern of Resistance with highs formed, and higher trend line lows rising up to resistance. There is Quadruple Top Resistance in the pattern between ES 2740-2745, and at...
S+P 500 has put itself into a very tight coil indecision pattern, on the 2 + 4 Hour Chart awaiting the markets all important REACTION to the monthly jobs report release on 7/6/18' My Proprietary 2 Hour OPEN Chart on the S+P 500 shows an OPEN ABOVE 2740.42 on 7/6 at 9:30 AM EDT would quantify as a Bullish Breakout. Conversely , an OPEN BELOW 2730.93 on 7/6...
I use a LINE CHART to plot each day's OPENING PRICE on the S+P 500, as well as each day's CLOSING PRICE< and do that continuously in time. On 7/3/18, the OPENING PRICE on the S+P was 2733.27, which matched EXACTLY with the OPENING PRICE on 5/14/18 of 2733.27 Both Shoulder's of a Head and Shoulder's Reversal Pattern are now in place at 2733.27 OPEN The Head or...
I keep a Continuous Line Chart plotting the 4 Hour OPEN Chart S+P Futures Chart, using front month contract. This allows me to monitor the S+P Futures 24/7, especially useful for long term chart analysis, and trend. In 6/27 overnight futures trading, although extremely thin in volume shows ES has broken 4 Hour Support at ES 2717.50, and has put in a New ES...
There is a "Cup and Handle" Pattern building in the 2 Hour VIX. A measure used by professional traders especially large institutional big money, to gauge the current level "Fear and Complacency" in the CBOE Index Options Premium Levels. On 6/25, the VIX broke out strongly to the upside after building a multi-day 2 Hour CUP Base, as the US stock market fell...
The Dow Jones Industrial Average Closed Below it's 200 Day Moving Average ( 24280.03) on 6/25/18 This is a very significant market event as it has been trading above it for months, supporting the bull market rally since late 2016 and the fall below it implies that significant risk is now in the market. The Dow Daily (Close Only) Weekly Bar Chart that I...
The S+P Technology ETF XLK experienced a "Bearish Throw Over" Break to the Downside on 6/25,pattern noted often by Trading View trader Geoff, occurring when price breaks above resistance, trading above it for multiple days, only to break back below it, dropping price back into the previous pattern, and with it, a potential " Bull Trap " now exists on the XLK...
Netflix (NFLX) after breaking out again to new highs last week to 423.21, today gapped down and created a very Bearish " Island Reversal" on the Daily Chart. The Pattern is usually associated with a significant top, and the breakdown in the stock now project's down to the 350 area. The fact that this stock has been the market leader, helped bring down...
S+P Futures have a "Rounded Top Breakdown" in Process, one of the most bearish futures patterns possible ! My initial target of 2741.75 basis Sept.18' Futures has been met ! 4 Hour Support at 2735.00 and 2708.50 Potential Ultimate Minimum Target to the Downside: 2689.00 5/29/18 LOW ...
This week's trading in the S+P, rallying back to the old high at 2665, on Mon and Tues, prior to the Fed Meeting making a new high at 2671.88 on Wed, closing weakly at 2662.85, on a goldilocks day, not a worry in the world day when the Fed Raised rates closing on the low at 2662.85 Now if 2652, is broken on the...
S+P Gapped Below 4 Hour Support at 2573.00 on the OPEN on 11/15/17 4 Hour Chart ( Institutional Chart used by Technician Tom Demark ) shows the S+P Rolling Over, with a destiny with 2544-2539. It is an Extremely Bearish Pattern ! Gravity is not supporting price ! Any rallies could be sharp, but ultimately brief Market participants show NO PANIC...
The Dow Industrial Average Closed the W/E 11/6/17 Right at MAJOR UPTREND CLOSE ONLY SUPPORT LINE at 23422. Any Decline next week 11/13/17 below 23422 in the Dow Industrial Average could set up a THIN AIR DECLINE ! as price will LOOSE FOUNDATION TREND LINE SUPPORT STRUCTURE ! Dow Transportation Average $ TRAN has already broken down Week of 11/6, confirming a...