Afraid if momentum continues up side, and breaks and survives this trend channel top TL, the HS and other scenarios posted would not work. However, the next few hours will tell, could reverse back down, and has a ways to go then.
Possible HS forming, with a symmetrical shape. Purple support TL broken. Head base broken. Moon phases is right on, for a dip to full moon jan 11th. Then? Always watching for that china currency controlling outflows factor. Could change everything, or confirm.
Last few double impulses up have resulted in a double wave pull back, the 1st pull back to approx the 50% retracement level, and then the 2nd to complete. The moon phase timing is worth mentioning. MACD ribbon has turned red. Only question is for how long. My theory may prove out here if that red stays red a little longer, and buyers give in to this pull back. ...
see chart, moon phases lining up again with pin action.
see chart. Just an observation, with low volume, wait and see what happens jan 3rd.
mmmmmm, critical levels for usdjpy, effecting markets.
So lots of stuff going on, markets expected peace and quiet and a smooth transition US govt, and got this, with more to come last 20 days in office? Rocky ahead. Markets don't like the unexpected.
Nice run, euphoria melting to reality. It will take Trump until at least the 3rd quarter of 2017 before earnings show any signs of actual improvement from his actions. Any runs from here are hope based, inspiration based, and all that hype has got to have a huuugggeee let down at some point. Can you say CHINA. And HS tops and bottom, however they form, are...
Sometimes you just have to dive right in and suffer the chill until you get used to it.
Patterns on charts... is that how we (trade) act, react, and think? Just a chart to consider. "For display purposes only".
Just an observation, wider view. Agrees with the shorter view completion of a 30 min HS, and a daily cypher.
Historic lows for cnyusd. Easy to see previous effects on S&P when this pair dips, us markets dip. Started to this time, but whoops, something happened, the upset special, the unexpected, TRUMP, Oil ministers actually talking to each other, stealing all the headlines and the world attention away from, you guessed that HUGE CHINA MANUFACTURING ENGINE that could...
Patterns and pivot points have memory, and as the S&P relative, they do behave the same often. This oil thing does not have legs... why aren't gas prices exploding then? Refiners know the glut, and the short term effect on this "talk".
We are headed for a battle with china currency in January, when their citizens can sell their Yuans again, and buy dollars. Yuan continuing to devalue, and then, our markets head up, why? The inevitable search for yield, the ultimate rotation, sell to buy something else that for now is heading up. Dollar gains, not good ultimately, Euro looking at heading down...