The EURO is still overall BEARISH.However we now have candles that have stopped at the bottom of the BB(100),furthermore we a have a long term DIVERGENCE near a KEY support level.Expect a counter trend rally to at least the 2 FIB levels. Remember folks if candles continue to stay outside the BB(100) it signifies EXTREME buying or selling.
The RSI(7) works well at spotting overbought / oversold conditions.The major down channel is still intact and price below the 20 week MA.
The index is BULLISH, just broke resistance ,DPO bars rising and above mid point.
Here is another method to use to stay with a strong trend.This template works well for most instruments. >>NO SIGNS OF A TOP IN THIS STOCK.. No reversal candle sticks or stochastic divergences so far.
Currently candles are above the KC(40) which signifies the strong trend is still in place.APPLE should hit the previous high in the near term.The Fibonacci levels are close to the support resistance area.
Along with your favorite indicators and time frames ,I suggest that you always check the WEEKLY & MONTHLY support,resistance,and trend lines.GANN FANS and FIBONACCI retracement are also useful.More often than not prices will hit those levels.Make sure you know your candle stick patterns as well.In this chart of CMG you can see that we have a hammer reversal...
Beware of Big Red candles that penetrate the bottom band of the BB(100)
At present we have a BIG RED candle(not complete) forming at resistance with weak indicators.Possible beginning of downtrend.
WOW,DID ANYBODY FOLLOWING THIS CHART SPOT THAT HUGE EXTREME DIVERGENCE?
SHOOTING STAR @ 2 RESISTANCE POINTS.Long term trend line,short term trend line @ top of KC band.There is also a negative DIVERGENCE stochastic.LONG TERM TREND IS STILL UP.
CORN IS STILL BULLISH. It will remain bullish until you start to see CANDLE STICK REVERSAL PATTERNS and LOWER TRIX(5) BARS.
When the CCI(100) bars are rising and above "0" that indicates rising FEAR.As the bars get shorter the FEAR diminishes.The fear will usually stop at or just above the KC(40). When the VIX overshoots above the KC band that signifies EXTREME FEAR and market BOTTOMS just ahead. >>>NO FUNDAMENTAL DATA ANYWHERE ON THIS CHART.
I'm republishing this chart.The original one seems to have the notes on the chart mixed up only when you click on it for viewing.
Candles that stay above the BB(100) and the BB%R above (1) signifies EXTREME BUYING PRESSURE. The END of the move is usually confirmed by the crossing of the SMII (100)