The bottoming hammer candle on Wednesday followed by confirmation with two straight positive days is bullish. I am targeting 198 fairly soon in a swing trade and 204 a bit further out to fill those gaps. MACD, RSI, and STO all looking solid. There has been such certainty recently that a crash was not just imminent, but happening right now! AAII Percent Bullish...
Bottom of the Ichimoku cloud hit, bottom trend line hit, lower BB hit all this morning. This is a clear BTD moment. Also, sentiment is too bearish right now.
This chart is demonstrating a classic bearish head and shoulders pattern long term. The neckline is pointing down, which is even more bearish. Target $22! Look out below.
Nearing resistance on the daily after tags of the upper and lower Bollinger Bands. Still would need to tag the upper BB again and then rebound off of support at 212 to indicate the continuation of a rally. If tomorrow is a dark cloud, or lower, look out below. It could be a new lower high is in. Indecision on the MACD but above one is a slightly positive bias.
A-Shares hanging by a thread now with a huge head and shoulders breakdown forming. Neckline downward sloping which is even more bearish. Not sure if the Chinese government is going to be able to save it this time. A 50% haircut to the mid-low 20's is possible.
First a hit on the upper BB, then a touch of the lower, now trying to decide whether to bounce off of the mid BB and up through overhead resistance at 211.50, or possibly test the lower BB again.... 3 Dojis in a row ??? usually means a decent move is on the way. Bias is lower.
Bulls better hope this breaks the 20 week moving average and regains it as support.quickly, otherwise this is looking like a rejection. This week's candle bearish if it doesn't go green by Friday. Bearish target is a retest of the 200 weekly moving average at about 182.
Moment of truth coming with the ramp to resistance at 204-205. Test and failure means much lower prices in medium term. Break through with confirmation and much higher prices on the way. I've got my popcorn ready!
Same idea as I posted a few minutes ago, but hopefully easier to decipher this time. I think the right shoulder of this complex H&S is starting to form, in the 202 area. Long term target 160 for early-mid 2017.
I have a longer term target of 160 on the $SPY. I think the right shoulder of a head and shoulders pattern is just now forming at 202, with a neck line at 182. This also coincides with the thesis that the 160 breakout from the October 2007 peak in June 2013 must be back tested prior to further gains. The 50 week moving average has peaked and is rolling over,...
213 has been overhead resistance for 7 months now. The support line from the monthly opens in March 2009 and October 2011 seems to have turned into resistance now as well. Looks like a test of the 2007 peak at around 160 could be on deck over the next year. This translates to about a 25% correction. (Long Term Investment Perspective) MACD has crossed over as well.
