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After the Shoulder-Head-Shoulder formation, SP500 fired a hit 'n' run candle, which was quickly dismissed.
After that, 2 attempts where made to recover, only to be rejected near shoulder level.
This time, it hit the vertical neckline once, and it'll problably hit i twice before being rejected again.
.......and history will repeat it self, and the pattern and ...
I acknowledge a 3 months margin for a false call because SP500 is overinflated.
This is primarily for own use, and doesnt not stand as a recommandation, but my own point of view.
This post is just to mark the day...
Glostrup, 5/1 - 2017
SPY signals very possible end of 7 years bull market.
Connect the 2 monthly highs of 2007 just before the financial crisis broke out,
with a trendline, and see it get hit by the top of 2015, followed by a year of topping out on SPY/SP500, and then, last week, on the 13th December when it was hit the 4th time.
This also marks what i believe could be the 5th leg of ...
Wish i had this realtime indicator on the right side of any current candle.
It's really just the price/range indicator we now from TW's left side tools menu.
Watch out how this possible SHS formation plays out.
I'm looking for a short opportunity.
If it fails, I'll be looking for second opportunity i level 10.400-10.000 (with possible spike to around 10.600)
Let's see how it plays out.
I do notice the triangle, suggesting a break upwards, but is this really notting but a big bear flag?
Time will tell.....
from 11-09-2015.....dax fibs...
As i see it, 9620 was the 61,8% retracement level, with a possible target for DAX bearmarket at 5135..or 5100-5200 area.
My first target was around 5442, but this seems more realistic.
That would be approx 58,5% drop from dax top i 12400.
That is within "normal" bearmarket drops.
6 september 2015.
Seeing a dead cat bounce on dax coming up from 7 to 11 sep 2015.
Question is only, how many bounces within the triangle before breakdown.
Is what where seeing nothing more than a dead cat bounce, before more downside?
US market closed 7 sept, then opening from 8 to 12 sept.....maybe this simple scenario will play out.
Watch also the triangle setup.
July, 31 - 2015
My first SHS formation idea, is still valid (since 2137,5 hasnt been taken out) even though is was on fewer bars in
the top area of 2137,5.
When looking from march to august, the bigger SHS seems more clear (and significant).
History tells that SHS formations are usually topping formation, and downside is to come.
Take a look at 2008 for ...
if you draw a fib retracement on closing candles, everything matches up.
the "fake breakout" in mid july was due to Greece /grexit flucturations and speculations.
A SHS formation is nearly completed in the DAILY chart in SP500 (SPX)
Only a few more trading days remains before completed.
Coincides with the ending of june, and a very possible Grexit.
A greek deal could postpone things a bit.
After passing the neckline around 2080, next stop will be 2000 and bearmarket beginning more likely than ever.
All the fundamentals are ...
Only a few days more, and the SHS formation is completed on daily chart on SPY.
Anything below the neckline at 208 confirms signal, taking it down towards 202/200 level.
check out the MACD signal of 2007-2008 and now again in 2015
6 years of bullmarket coming to an end?
Also from last bottom to top, fib levels reached.
A newer look at the monthly chart for SPX, with circles indicating similarities and some divergence.
Notice also the date periods of the two bull markets. (and remember this one had QE1+2+3.....(+4?)
Notice the stochastics RSI is currently low.
Notice the MACD signal for last months also.
I still see a minimum correction back to the MA200 line.
In conjunction the ...
Levels to watch...11290-11031-10711-10193
Also the dotted red channel as well as lower uptrend lines. (black & grey)
Intended for own private use.