The STI is into its downtrend for 15th weeks now since the 24th of July 2020. 2500 level needs to be reclaimed and a close above 2520 will negate the correction. The downside target of 2200 in the MT/LT remains a viable target if a sustained recovery above 2520 and 2551 fails to materialize.
The SPX attempts to make a break above 3344 to pause the recent 10% correction from its recent highs of 3591 early Sep. A close above 3344 on the 4hr charts will confirm the end of the correction and may test 3392 to resume the uptrend in the M/L term timeframes Alternative, a sustained close below 3344 will retest the lows of 3211.
The short term weakness on the SPX persists since the short signal was triggered in the short term on the 4th of Sep 2020. The uptrend starting on the 25th of May 2020 the daily charts has taken a pause. Price now will test the downside on the SSSB (RED LINE) on the cloud. A break and HOLD below the SSSB cloud will start a new downtrend in the MT. The downside...
TAAT IPOed on the Canadian Stock exchange on the 24th of June this year. It had returned 39% over the past 3 months over some optimism on its E-cigarettes business. Vanguard Subscribers were asking how to trade this particular stock. Multiple Time Frame Analysis show an UPTREND in all timeframes from the 4hr to the Monthly Price trades above the Supertrend line...
A close at 3329 in the SPX sits exactly on the SSSA line of the day ichimoku cloud. A test of the base of the cloud is imminent. The baseline forms support for now. The Teken level on the weekly charts is at 3350, this has been violated giving way to more weakness. Bottomline: A resumption in the uptrend must see a bounce from Friday's close at 3329 to 3375 for...
The STI is struggling to hold on to 2500. All indicators are on a downtrend. To negate short term weakness, the STI must close back above 2540 - 2586 and hold. The Medium and Long term prospects are weak and in a persistent downtrend. 2200 is the next target is weakness persists in the MT.
Short term weakness on the SPX since the short signal on the 030920 continues to the new trading week of 150920 spanning 14 days. Short term support is now between 3150 - 3280. A break of 3150 will see a corrective retreat on the weekly charts to 2973. Alternatively, a break and hold above 3443 will resume the uptrend of the SPX on all time frames.
LXXGF LEXAGENE holdings is on a short term downtrend to test the SSSA line on its weekly charts. Short term target is $0.53. A break of $0.53 below will test $0.30 (All time Lows) A break above $0.67 will resume its uptrend to test $0.80. Pivot to the upside is at $0.80 cents for any upside breakout to the highs.
The STI is in its 8th month of correction since February 2020. The technical picture has worsened in the trading week starting 070920. My previous post on the 6th of Sep highlighted the technical weakness on all time frames. A worst case scenario of a test of 3200. It would be prudent for long only traders to lighten exposure for the last quarter of 2020. For...
The SPX has Rebound of its intraday lows of the week on the 9th of Sep to the Kijun Sen on the 4hr charts at 3475. This is a 50% retracement based on Ichimoku cloud indicators. Pivot will be at 3400. A close and hold above 3400 will test the Supertrend level at 3475 which is also above the SSSA line. A break below the pivot will see the retest of the week's...