European indexes ended the week lower first time for the last two months — something to take notice. French index CAC40 was the worst performer, broke its accelerated trend line and closed below 8 EMA. It will be healthy to see some type of consolidation after the big move up with a potential intermidiate target at 4,264 where 50 EMA is situated. But first it...
Genreral Electric resolved Head&Shoulders pattern to downside and closed below the neckline and 50 EMA. That tell us about relative weakness vs broad market. In case of down scenario of SPY (check my comments on this idea in the link below), this company from Industrial Industry (etf XLI showing relative weakness probably because of tension in Iraq and higher oil...
US indexes were up in early trading after New Home Sales data came out much better than expected. Consumer Confidence Index beats expectations as well. But later markets reversed, engulfed those gains and closed near lows. Lets see clues and points of adjustments (15 min timeframe analysis). After price reached resistance zone $195.50-.60 reversal candle appeared...
DHI is up today after housing news came out from US. There were sold 504k of nev homes compare to 442k expectatoins. Very strong upbeat. DHI was hovering around 8/21 EMA and above all key long term moving averages. It triggered long entry when price broke and closed above $23.25 resistance one month ago. Break above $24.80-$25 resistance area could attract more...
This airline company found strong resistance zone at $48-$49. Bounced off it very agressively with gap down zone from $44 to $45 which is powerful sign that sellers keep control on price. From fundamental point of view there is tension in Iraq - one of the biggest supplier of Oil in the worls. Break in supplies leads to higher prices and then higher costs for...
Stock came from $16 to almost $58 in year and a half but was sold off on bad earnings results almost 2/3 of it is initial move up. In such a strong tape I think it looks ready for move higher, as it found support at $33 and have built higher highs with consolidation support at $35-$36. It broke downtrend line to the upside with strong, green candle and building...
Pair formed its bottom around 1.35200 and broke up resistance at 1.35800. Above that traders accepted new prices and after break up of tight consolidation it accelerated to upside and topped at 1.36400. After such a big nove in short time it took some time to absorb this price action and it have built series of higher highs and lower lows - indecision pattern...
It caught buying momentum after it broke up wedge at $68. Now it should hold above previous resistance at $86.45 which now should act like support . Then we have $83.22 where my 8 EMA is situated and could be potential buy area. Check my idea in the link below
Amgen doubled up its price since 2012 after it resolved wedge. Monthly and weekly charts looks very bullish with outside candles. In this strong tape I am watching for strong stocks wich are in uptrend across all time frames. Stock topped at $128 and after it broke down its intermidiate uptrend line then it accelerated to downside, dropped 200 EMA but found...
Gold seems to be a haven asset for investors in terms of tensed siituations all around the world. Iraq is a key oil market player and there also is a difficult situation. Rebel activity in the North of the country has forced the U.S. to send to Iraq 300 military advisers. From the point of view of technical analysis there was a lot of tips and trading signals....
As markets are near highs with S&P setting new records, American Express flagging near its highs aobve 8 EMA which is in control since 23 of May. Also, it broke 2 top around $94 and holding above. It is keeping attention of active traders and could give us another momentum up. Current high at $95.88, break up above could attract more buyers. Reasonable stop...
Gold was sold off from highs at $1285 after nice move from support at $1241 that I mentioned earlier (find out my idea in the linked chart). Today, it squeezed below intraday supporta $1264 on CPI data from US but buyers regained power and pushed prices higher above consolidation resistance at $1266.70. After retest it bounced and put series of higher lows and...
NPSP bounced off from $22 support that is in tact since November 2013. After consolidation it broke up $28 consolidation resistance with two ignited, green candles. Now it is wedging near highs and preparing to new move higher. It is not ready yet, but will be on my long list with trigger above $34.70 and stop below $31.50 makes this trade acceptable from...
Since the beginning of March this solar ETF entered into bear channel and was laggard sector vs broad market as investors were buying major cap, high dividend stocks. Nevertheless, it is just 38% pullback from big move from $15.00. Now, it builts higher highs and higher lows - strength of buyers. Yesterday, it closed near highs and broke previous dwing high at...
USD/JPY have entered into consolidation since February this year. Previous week currency pair bounced off resistnace close to 102.800 and dropped below key moving averages and broke down bull channel that is in tact since RedDogReversal that we had on 21 of May. The longer it holds below moving averages (102.067-102.132) the higher is probability that it will go...
Intel set new 5 years after it announced its sales would be better than it had anticipated earlier in the year. Intel’s news is almost certainly good for Microsoft (NASDAQ: MSFT) and Hewlett-Packard (NYSE: HPQ) since Intel is the leading maker of chips for PC’s. The PC market has been so mature that most analysts assumed that Intel’s future would be relatively...
SPY covered part of losses after drop down on Thursday. Looks like buyers don't want to give up. I am oging to measure sentiment with Fibonacci levels. This bounce wasn't so strong as it is only 38%-50% from the move from highs. If sellers will hold $194.20ish, then $194.60-.80 then with high probability I expect move through low $193.11 to the next potential...
Visa was sold off agressively off the highs from $227.5 and bottomed at 195.00-197.50. It is settling in "h"-pattern now. It has recently formed a small Head&Shoulder pattern and the neckline looks broken with today's price action. Entry: $211 Stop: above right shoulder $215 Target: $205 (2000 EMA) then $195 bottom from mid April