The Nasdaq 100 Close of 5934.91 on Sept.20,2017 puts the index at a VERY CRUCIAL Uptrend line Close Only Support ! connecting the the July 6,2017 Bottom Close at 5597.90, with the August 21,2017 Close of 5786.54 A Break of 5934.91, would confirm a TOP in $NDX, with the Sept.13,2017 Close of 6004.38, and would target 5880 Support below. THE_UNWIND
OF NOTE : The S+P 500 is currently LOCKED in DECLINE on both a 4 HOUR and 2 HOUR Chart for 20 Trading Hours ! The Sell Off in the last 30 minutes of trading today, KEPT THE PATTERN IN PLACE for the weekend. Put another way, the BULLS in the S+P are locked in a BULL TRAP and... have to face the weekend in that very uncomfortable position. Break of 2430 in...
The S+ P 500 closed at 2430 on 8/17, BREAKING last weeks LOW of 2437.75 thus signifying a continuation pattern to the DOWNSIDE in the S+P On my S+P WEEKLY CLOSE ONLY BAR CHART ( 5 DAILY CLOSES inputted for price information on the Weekly Bar) Two MAJOR SUPPORT NUMBERS for FRIDAY AUG.18 are 2413, and MORE IMPORTANTLY 2388 A BREAK OF 2388 on a CLOSE on...
The Russell 2000, is a small cap index that many do not pay attention to. They should start to paying close attention to it NOW ! The Russell 2000 was the LEADER is the BULL MARKET RUN_UP SINCE TRUMP ELECTION NOV>2016 NOW is it the Major INDEX that is LEADING STOCKS TO THE DOWNSIDE as the gains melt away. From a 1452 High in Late July, the Russell has fallen...
The S+P 500 dropped sharply last week to 2441, and is now testing major support area Friday 8/11 trading was confined to a snap back rally/retest BELOW the 50 day moving average at 2448. Major 4 hour Support this week is at 2430, 2380, and the 200 Day Moving Average at 2339 Resistance above is at 2454, 2459, and 2470 currently. The Bullish Percentage ( $BPSPX )...
[*S+P 500 had a KEY VERY IMPORTANT REVERSAL on 8/8/17, trading as high as 2490.87, before REVERSING and dropping 20 Handles to 2470, closing at 2474.92 Both the $NASDAQ 100, and the RUSSELL 2000 ALSO had exact same PATTERN REVERSALS, easily defined with both $ NDX and $RUT FAILING to make new highs, setting up confirmed divergences TOPS below TOP's in both...
Add to further deterioration in the overall stock market. The Russell 2000 Small Cap Index is in the process of breaking a MULTI-WEEK ASCENDING TRIANGLE at 1425 to the DOWNSIDE this week. 1405 8/3 CL. The index had broken above triangle resistance each of the last two weeks of July, only to close back below resistance. A FALSE weekly breakout to the...
E Mini Dow Futures for Sept 2017 SPIKED in a BLOW OFF MOVE ON THE OPEN of Trading for 8/2 Session tonight, hitting a high of 22025 immediately upon the open, on Apple's better than expected results after the close on 8-1 Price has since fallen back below 21950 this evening. The Dow Futures 30 minute chart shows a clear large price spike bar in place. I...
On 7/27, Apple BROKE the Ascending Triangle in place since 7/6 Open at 142.66, to the DOWNSIDE. This confirms a Top is now in place BELOW the ALL TIME HIGH, IE a TOP below a Top, a very BEARISH development. Distribution (Selling by Strong hands to weak late to the party Buyers) obviously was allowing Apple's run up to challenge the old high. Now with Apple's...
Apple's Red Candlestick Bar at 150 on 7/20/17, after 8 straight up days, highlights a potential price peak , and price could be building a rounded top resistance area Earning are due on 8/1/17 after the close. A violation of support at 140, would target a long term move down in Apple to 125.