oops

oops

yeah, we were so close to hit all-time-high, well perhaps tomorrow is another chance. Either way, for me it is time to hit the bid, it jusy looks exhausted ,but I reckognize we are still in a bull market for now. a) broadening pattern after a rally means bulls and bears are in a big fight, but it could mean a top b) with this broadening formation there is a...

oops

is the overall market bullish ? YES....... does it appear toppish ? YES !............ High beta name Goldman Sachs has rallied since summer 2012 ~ +75% and from the last consolidation period Nov/Dec ~ +40% . That is very very impressive , chapeau ! Pure coincidence there is a perhaps a meaningless Fibonacci price and time extension knocking at the door,...

oops

feels like a deja vu, I did a similar thing back last Sep I don't have a crystal ball and want tp pick a top here, but there is a first sign of negative divergence on the S&P vs RSI and the market completely ignores risk as VIX stands at or near historic lows ? That makes vola too cheap in my view and given the fact that we had this wonderful and now stretched...

oops

worth a trade for me... positive divergence on RSI, MACD accompanied with a hammer candle earlier. S/L just a few pips below the hammer candle low , looking for a rebound towards last bigger resistance 1.5915/19 area, possible 38% Fibo retracement of the bigger downmove which comes at around 1.5955 cheers KP

oops

I have been watching EURGBP for a while but needed to wait for further confirmation of setting up a short play, which I will initiate Monday morning. Notice the failure of continously trading above the longer term 200d MA, consequently forming a large negative divergence formed recently. The FX pair sold off sharply end of Oct from 0.8150 to 0.8000 before...

oops

I am still short my S&P and long VIX (see my older posts), but I am inclined to make a wager on this rather short term trade. And here is why: DOW Industrials sold off now 600 points and should face very strong support. a) 13000 psychological barrier b) 13080 100d SMA c) 12972 200d SMA d) Bull Trendline from lows Oct2011 via Jun2012 e) last support in Aug2012 My...

oops

regarding my earlier short highlighted 8 days ago on a daily chart, here is a follow up. after having topped out following a nice rally after the long-term bull-flag pattern (20/21 Sep), we are now in a retracement mode. a 38% FIBONACCI will target 1725$ that is minimum, potentially leading to further correction . Anyway, we just completed the second minor...

oops

they clearly have been struggling, they are far behind the competition. true but from the technical point of view NOKIA px just recently left its bull triangle pattern, which was a consolidation period after the rally from the lows. RSI trendline has been broken to the upside, the price trendline (from the bull triangle) has been broken to the upside, it is...

oops

EURJPY has finally broken out of its bullish pennant on the daily chart. It will most likely retest first the old high from Sep shy of 104, but given the strong momentum will rally towards 105-106 handle, possible even towards a projected target from the widest width of the pennant towards 106.50-107.00 area cheers KP

oops

a follow up from @mikestockmarket who created a chart with S&P500 vs NFP / Unemployment rate, which is obviously THE market mover. This chart here illustrates the DAX (arguably the leading stock index in Europe given the fact that Germany is the locomotive / engine in European growth) and the German ZEW Index. ZEW stands for "Zentrum fuer Europaeische...

oops

well, seems like global growth is pausing not to mention fears of global recession... so let's see if WTI keeps further weakening Global recession is a long shot, however I have come across this more short term picture for Exxon: RSI (as other oscillating indicators) did not follow suit to produce a new high as the price of this fine company did, hence it...

oops

positive divergence on the hourly chart and the RSI downtrend line has been broken to the upside as it seems Long for a small retracement rally

oops

It is one of these times, where the great rally (due to another QE of many) doesn't seem to stop or does it ? SPX seems to be trapped in a rising wedge with accompanied negative divergence. It may run out here right now with the break of the up trendline, it may make another new temporary high, nevertheless , the air gets thinner... nearly as Felix Baumgartner's...

oops

ok , it's a long shot, in terms of time frame and position that is ... At the moment every big exporting country or regions basically is enganged in the "currency race to the bottom", weaker EUR, weaker USD... with worldwide interest rates around zero no wonder... So, fundamentally, Japan is not different and this strong Yen hurts Japanese exports and a BOJ...

oops

GOLD's melting point is 1064 C ...so is does melt Yes, GOLD broke out of a major triangle and put on the glorious shine. But it certainly feels overheated now with momentum running little out of steam, produced a rising wedge formation accompanied with a negative divergence. The trend is up and could make another new high in this move, but this only means the...