WFC has been unable to gain 50.5-51 resistance for months now, and the chart may indicate that it is time to retest lower. the last weekly level retest was 44.59, which bounced strongly and reversed. if 46.6 is lost, we should look towards 43.2 for next support test.
Lower still is 41.65 and 38.03 as well as ...
TVIX has been playing well off of daily S/R outlined in chart, likely pops soon or else 2.75 support could test. My guess is it at least tries for 3.84, and if strong enough, we could extend targets to 4.25 area.
bounce off of 3.00 strong so far
Technical analysis of BAC's chart indicates strong levels of resistance at 18, and 15.25, the latter of which has just seen a completed double top in the past few weeks
This indicates that we should break lows and test lower, 9.9 and 8.27 (more significant) supports are supports we could test.
let me know what ...
FSLR has been behaving very well within technical levels on the weekly, and has been trading in a range for a few years. A strong weekly trendline has just broken, and if it can make NEW LOWS on the daily, it will head to 45.43, next area of support where it will probably bounce. a decent stop would be above the ...
AAPL has been suffering these past years to make highs and keep afloat, performing sub par compared to the rest of the market.
We should keep an eye out for AAPL breaking supports, because if it does, a case for new lows may be made.
On the lower time frame, a minor trendline has been broken, rejected, and ...
DRE has been in the news as a strong performer in the recent months, and has outperformed the S&P on a larger time frame. Zooming in, we can see a small HNS on the 15min, that should bring us to test the red longer time frame trendline.
This is a great spot for a long again around 24.55 to see if we continue to ...
The substantial bounce off of 23-21 support at the daily level, as well as failure of megaphone top, means i'm inclined to look for 56-53 res retest.
I'll look for profit there and the the megaphone upper trendline, ultimately a hold above 53-56 area should test the long term trendline above.
If bears step in ...
Today, we saw the break and hold below of an important long term trendline in effect for months leading up to now, as well as several strong points of support.
Rationale for short:
- Break of lower bear flag channel trendline & hold
- Successful retest and rejection of trendline.
- Broken support at 206.80s ...
This is the short term view. I will post the long term as well.
The past four market days have seen a large increase in volatility, as the bears and bulls fight for control in this range. Today saw a large gap down, and a reasonable attempt to stay above yesterday's lows. These lows happen to be very strong ...
The market is in a tightening range, and next week is likely to tell whether we see a sharp decline or growth into the end of the year. If bulls can punch through the long term trendline active since July and hold above, I see limited growth into the end of the year.
However, the higher probability set up in my ...
The S&P has been widening it's range, and just today reached the lower channel trendline of this expanding wedge. This is a bullish pattern, and I'm looking to a pull back in the next few days to the upper trendline, and perhaps a breakout of the channel to the upside.
If this pattern fails, this is extremely ...
I think the USDJPY is a bit overextended, and due for if anything a small retracement.
Two short entries, as outlined, are used because 123.04 is not very strong resistance.
1st entry is half as large as 2nd.
Target is a trendline as outlined, Target 2 perhaps the 20 or 50 EMA TBD
Lets see if we can't punch through resistance and out into a correction on this downtrend.
The lows were rejected for now. If we can keep above 1.0730's, I think this has a good chance of retesting resistance at 1.0800 and perhaps even 1.0870
Two longer term trendlines present a confirmation of the correction if ...
Strong trendline/ horizontal resistance, as well as the development of a bear flag gives a good case for a short here.
A small short entered at 1.5182 gives the ability to capture the move if price fall from the flag formation prematurely on the next downswing.
Next, a more sizable short is ...
EPRS is coming up on a crucial level, presenting a long trade with good Risk/Reward.
EPRS closed up 6% today, having held major support at 5.00, and closed above minor resistance around 5.35.
Long term trendline resistance coming up immediately within the next few days,with a break (perhaps a large gap up) above ...
ELNK is sitting at important resistance, which will likely decide if it rallies heavily in the coming month, or slumps back down. It broke strong trendline resistance, yet could form a double top where it stands if it fails to break the 8.90 level.
Fail- Heading to 8.30's
Break- Target 1: 9.10 Target 2: 9.50+
The sideways market looks to be coming to an end, with the odds heavily in favor of a sell off next week. S
mall gains on light volume in the past few days, the general trend of the market, as well as downwards trend line resistance coming up soon, all point to a drop.
Using the strong resistance at 54.40 as an ...