marketfellow

marketfellow

- Head and shoulder pattern breakdown - Lost 50 DMA and approach 200 DMA

marketfellow

Nasdaq is at final stage for potential breakdown. Highly Alert !

marketfellow

1. Nasdaq +75% in 5-6 months was fantastic but watch out parabolic run 2. Doji pattern is a warning for top-out and reversal 3. Potential support and rebound are marked with dash lines

marketfellow

1. Two-month ascending base breakout: DOW with entry point 47 2. Solid base with high volume breakout 3. Sell-stop @45

marketfellow

1. Classic Reverse Head-and-Shoulder Pattern breakout 2. Outstanding Volume 3. Cruises breaking out together: CCL, RCL, NCLH +5% 4. Initial upside target 25 5. Sell-stop 15.5

marketfellow

1. Classic convergence breakout on 08/28 2. Outstanding volume 3. Entire restaurants industry rallied together: PLAY +16%, RRGB +16%, BJRI +14%, CAKE +8%, SHAK +6%, DRI +5%, etc 4. Sell-stop is set @15

marketfellow

S&P is near the edge of key level 3000. It will become reversal follow-through for full scale downtrend when it happens. Watch out.

marketfellow

As we mentioned QQQ in late February (02/27) for breakdown warning, QQQ shows potential reversal with doji for warning signal today. Notice two uptrend channels composed strong 3-month rally. MSFT, AAPL, AMZN, GOOGL, FB took leadership roles. There are still strong but it should be noted when the trend line breaks around 235-240. Lack of support below could result...

marketfellow

Last Thursday 06/11 gap-down, breakdown, island reversal offered an ideal observation point for the next move of the stock markets. Here are follow-up points using S&P500 as an example. High-low levels are defined about 3000-3150 Gap is not filled so bears have advantage Breaking below 3000 could start the most powerful drop Breaking above 3150, S&P still needs...

marketfellow

It is important to examine the DJIA chart carefully to see what happened on 06/11 Thursday 1800 points drop and 06/12 Friday near +500 points rebound. 1. Gap-down breakdown caused island reversal that provided a hint for termination of uptrend 2. 3-month uptrend channel is at great risk of breaking apart, though it was barely saved by Friday closing 3. Once it...

marketfellow

S&P (DJIA and Nasdaq) broke down deadly after its two month regression trend lines. Specifically, island reversal is fatal to its bias change from bullish to bearish. Gap-down also made it hard to repair. High volume will mark today as a major distribution day. 20 DMA cannot handle it. So, S&P may keep going lower at least to 50 DMA to find its support.

marketfellow

04/03 Notice 20 DMA keeps pressing down DJIA during rebound wave. Now, triangle convergence appears again for potential breakdown like early March. Downside target is around 18000 level.

marketfellow

04/01 Yesterday Nasdaq rebound wave hit 20 Day-Moving-Average (DMA) and previous defined resistance 7788. 20 DMA becomes important guideline for next 1-2 weeks to find its either new low (6185) or higher low.

marketfellow

03/23 DJIA 18000 came to defend or rescue dying markets. If bad news cannot knock it down further after about -38% drop, then rebound may come tomorrow or soon. It is time to take profits on short/put and open some long/call positions. However, this rebound wave may last 1-2 weeks until first resistance 21777. It is very unlikely to get back 25363, second level....

marketfellow

03/22 As we mentioned before potential failure on 2350, it is time to say goodbye to 2350 and look for next one. Just like DJIA 18000, S&P could find its correspondence levels 2100 on October 2016. The worse case is 1800 back to Jan 2016. This kinds of disaster is equivalent to World War III so there is nothing to surprise anymore on how stock markets will behave....

marketfellow

03/20 Nasdaq next downside target is 6185 or 6185-6400 zone for rebound and support at weekly long term view. Since bear markets started on 02/25/2020, potential bottom for this bear markets might be 4200 in the next 12-18 months.

marketfellow

03/18 Dow Jones began its free-fall journey since 02/24 for the 4th week with -32% drop. It is time to arrive multi-year rebound or support level: 18000. This level was 6-year rally top (2009-2015) and beginning point of Trump's rally (Nov 2016) until Feb 2020. This level serves as important place for the bears to take a little break. There are no other place...

marketfellow

03/17 Nasdaq upside resistance is 7788 and downside target is 6185. Nasdaq needs to climb above 8600 for full recovery which is very unlikely. Currently, short-term rebound wave may carry Nasdaq up for the next few sessions. Once it exhausts, bears may be back to resume downtrend.