Break of 36 is bearish
If SPX breaks the neckline - all bets are off
could be a powerful sell signal if 0.70 breaks and holds
With the benefit of hindsight... Any beginner trader could have ridden most of the move up in the S&P 500 over the last 6 months using a simple 50-day moving average strategy for entry and exit
GBP/USD has dropped on latest Brexit news - falling from 3rd test of falling trendline - in part of bigger triangle pattern.
Of course yesterday's big drop could be the start of a top in the Nasdaq - but now that is not confirmed Price is still above its rising trendline and 50 DMA, which means the pullback is a correction - and iif the uptrend is to continue, a dip to be bought
After the big drop Thursday, this is a quick 3-month performance review of some of the classic names that fit into each of these 3 groups We can see that COVID tech (Tesla, Zoom, Plug Power) sold off, reopening trades (cruise lines, banks) rebounded and in the middle were some tech favourites that fared a little better (Alphabet, Twitter etc)
It pays to observe and learn from common price behaviour before and after big events to better handle the next events
German stocks are making what looks like a decisive move to the topside It follows a triangle consolidation that's been in place since July
The volatility in oil markets has been falling for months as price contracted into a narrow range. That 'wedge'-like trading range appears to have just broken to the downside
The flavour of the day in these unusual times appears to be pushing up stocks like Apple and Tesla after they announced a stock split. Is Amazon next in line? Shares of Amazon currently trade at $3,500 and are arguably in much greater need of a split. Tesla has rallied 70+% since its stock split announcement Apple has gained circa 35% since its own plans were made public
The last three attempts to breakout above the 6300 level in the FTSE 100 index have ended in the break below a rising trendline.
The trend in the USD is down - and normally its a good idea to follow the tend BUT.... Europe second wave - euro negative US cases coming down (possibly because of less testing) US election US Treasury auction supply - 20 year bonds next week New Zealand example of other central banks easing first Haven flows without stimulus deal, US China relations (talks...
Tech is leading but the leadership in tech has been narrowing even further in the last month Apple and Facebook shares are outperforming - while the rest of the FAANG - Amazon, Netflix and Google are under performing. One possible trade is a to assume a return to the mean - ie the laggards pickup and/or the winners pullback The other takeaway is that the market...
If we assume gold drops 15% like it did in March - then the downside target would be 1765
Powerful out performance in China tech unlikely to be undone by new Trump executive order
A review of the price action on July 2, the last NFP day Drop me a comment if you have a question or think I'm missing something!!
A look back at the price action around the June 5 NFP release