This is a follow-up from my earlier idea where I called a double top on MU. MU has broken down from the neckline support, tested the neckline support (now a resistance) and failed.
Counter-trend rallies are one of the hardest to trade but with seasonality acting as a tail wind, might want to keep an eye on holiday subscription darling NFLX. Stock has completed an ABCD formation at $270 and is now sitting at a 78.6% retracement. If price action confirms a higher low, there is a trade to be had for an initial price target of $340.
Further to my post on NFLX, NQ1! price action looks very similar and I wonder which is the dog or the tail. Nevertheless, there an ABCD completion, a higher low which is confirmed by the MACD cross over, for a potential CD leg up.
Lots of people have been talking about the head & shoulder in the Dax but what is crucial is the Dax has retested the neckline and appears to be faltering. -13% downside projection to 9900 which coincides with a massive congestion zone as marked by the 2014 resistance and 2016 congestion/support levels. Stops can be clearly delineated by the neckline.
Technical analysis 101 wrapped up in one chart for Mr GOOG:- #1 $990, a previously key resistance is now a key support level #2 how crucial is the $990 neckline? It is the base of an expanding triangle formation more commonly known as the Megaphone pattern which is bearish in nature #3 Where's all the volume gone??? I know there are some HODLRs out there for Mr...
Speculative long trade along the theme we are witnessing the beginnings of a counter-trend rally. AMZN just completed an ABCD down move which coincides with a medium-term up-trend line (connecting Jan'15, Feb'16 & Oct'17 lows). While I do not know how aggressive this bounce is going to be, conservatively speaking, a 38.2% to 50% retracement would result in low...
Just want to highlight the negative MACD divergence in the ES1! to put in context the counter-trend rally I was talking about in the earlier post. Major market tops are usually marked by counter-trend rallies showing up as a lower high. Bears should bide their time and lick their chops when the lower high has materialized.
Over the longer-term, I am a bear as I tried to highlight in the Preponderance of Evidence chart fest. However, in the immediate time horizon, bears be warned as the ES1! nears ABCD completion at 2590 and we are starting the see the initial signs of a positive MACD divergence. We would need a a higher close to confirm the MACD divergence (new low is defined as a...
Nidec, 6594, is breaking down from a consolidation channel. Channel downside target coincides with a potential ABCD completion at 14k.
I had previously described myself as an oil bull and Mr. Market is giving me an opportunity to elaborate. So brent crude has been trading a huge channel since peaking in 2008 with the last major trough in 2016. Long story short, brent crude is on track to test the upper boundary of the trading channel at c.$96. Try to follow the sequence:- AB leg: Feb to...
This is part of a series of charts which I will posting for the reader to make up his/her mind based on the weight of the evidence. Do note, these are weekly charts which means the implications of which will occur over the next 12, 18, 24, 36 months.
This is part of a series of charts which I will posting for the reader to make up his/her mind based on the weight of the evidence. Do note, these are weekly charts which means the implications of which will occur over the next 12, 18, 24, 36 months.
This is part of a series of charts which I will posting for the reader to make up his/her mind based on the weight of the evidence. Do note, these are weekly charts which means the implications of which will occur over the next 12, 18, 24, 36 months.
This is part of a series of charts which I will posting for the reader to make up his/her mind based on the weight of the evidence. Do note, these are weekly charts which means the implications of which will occur over the next 12, 18, 24, 36 months.
This is part of a series of charts which I will posting for the reader to make up his/her mind based on the weight of the evidence. Do note, these are weekly charts which means the implications of which will occur over the next 12, 18, 24, 36 months.
This is part of a series of charts which I will posting for the reader to make up his/her mind based on the weight of the evidence. Do note, these are weekly charts which means the implications of which will occur over the next 12, 18, 24, 36 months.
This is part of a series of charts which I will posting for the reader to make up his/her mind based on the weight of the evidence. Do note, these are weekly charts which means the implications of which will occur over the next 12, 18, 24, 36 months.
This is part of a series of charts which I will posting for the reader to make up his/her mind based on the weight of the evidence. Do note, these are weekly charts which means the implications of which will occur over the next 12, 18, 24, 36 months.