I"ve been looking for triggers that will kick start the next World Finacial Crisis (make people to panic or realize that we have a huge debt problem) But I feel governments around the world are trying to contain it. In the United States, makes me nervous when Larry Kudlow and Steven Mnuchin come out to reassure people of no Recession is coming. Larry Kudlow said...
We re at exact retracement 1937 and the break down Candle today. QQQ is broken down from the wedge and retesting it today. We need SPY and DIA to follow in order to confirm it. Also pay attention to weekly RSI.
Ray Dalio Compares today to 1937, Charts says it too! 3 Day weekend - Gap Down Tuesday???? I am a big fan of Ray Dalio, Jeffrey Gundlach, Peter Schiff. You won't hear the truth from other people who are on Main Stream Media. Learning about Cycles since 2006 (last 3 years hardcore) and my conclusion is 2019 is the end of 38 years of Bull Market in Bonds....
World Markets are in trouble. Is US Market have same the faith at the same time??? Of Course LOL
FB retraced 50% and stuck just under 200 MA since it had a Bullish Divergence on a daily chart. Since gapped up from the earnings, it's spending a lot of time around 200 MA and building energy. Sooner or later its gotta make the move. I personally think FB is going to gap down and fill the gap. Almost all the Indices developing bearish divergence on a daily chart...
As you can see GDX has been beaten down for years. Now its time to go long. We just crossed over 21 Month MA. Its bullish at this point and looks like it will hold(as gold is acting very bullish and getting attention from main stream Media). Last time GDX was able to close above 21 Month MA, was June 2017. Heading in to 2008 people where buying gold and selling...
We are at beginning of a global slowdown or meltdown (I call it a MAXED out on Debt). Italy is in rescission and probably most of EU will follow. You can push unlimited amount of debt on to Corporations, Governments and Ordinary Citizens but everyone has a limit how much they can handle. Let see if the FOMO crowd who bought back in September and January will be...
Previous smaller H&S was invalidated due to retest went too far up. Did some adjustments. I'm pretty sure this one will play out. I would not adjust this one again. I do believe this bubble is burst. Fed stop raising rates will not help this Stock Market(gave us short term rally), this Market is addicted to cheap money. Federal Reserve did not stop QT (they still...
I think this the final H&S I could think of. Previous smaller H&S retest went a lot higher and invalidated the H&S. This one looks like playing out nicely. Either way we gonna see $1200 pretty soon.
As you can see PEP broke down from long trend line, back tested it twice and failed. Now in process of another leg down from the Bear Flag..... It should play out in the next 10-15 Trading days. Break bellow $108 will confirm it.
As you can see Google broke bellow its long term uptrend line, back tested it and failed. Short time bullishness will end with the broad Market pull back. Levels to watch $1127, $1095 and $1069 (once we break this levels, sell off will accelerate)
As you can see on the Charts, we are at the resistance line on RSI (which it broke down from). Fail to break above it, we gonna see more downside. Also negative divergence on 4 hour chart.
Still Short on Amazon. Nothing Bullish about this Chart. It seems AMAZON Leading Nasdaq. Apple, BA, FB did well on earnings. Is Amazon gonna miss and take the whole Market lower to revisit December Lows or Lower?
DJI had to touch that downtrend line before it rolls over. Got rejected 3 times and I don't see why it wouldn't 4th time. The Market doesn't make it easy for the Bulls or the Bears. I believe we are in a Bear Market. I'm gonna follow what the Market is telling us through charts, which is we are going lower.....
Nasdaq Testing a Key resistance that coincides with 200MA. Got rejected 3 other times. In my opinion, AMAZON is Leading NASDAQ. DJI got rejected from the same downtrend line(4 reactions). AMAZON earnings is Key (I say, we miss at the bottom line). Chances we go to all-time highs as of now??? Doubt it.....
We perfectly kissed the 100 MA and stopped. I believe 100 MA was the final destination for the Market (Market always have a destination) Also I think this was Bear Market Rally(if we pulled back and consolidated at some point in last 3 weeks it could have been a different story). With all the good news about the Job numbers and other good economic data Markets...
Bull Trap all the Longs. Amazon will make it or break it....