Ratio between $IWM and $SPY reached important support. Maybe it has a little more down but the risk of a bounce here doesn't make the reward worthy. $SRTY position from March 3rd, at upper BB boundary and 1,618 fib,closed yesterday Cheers Panos
Reached first support/demand zone, after kissed good buy the lower boundary of the wedge. Q's also at support/demand zone
Market looks unhappy that Abenomics will print the same amount of money. Wants him to print more and destroy faster than normally expected every Japanese household that could not possibly afford not even heating their homes, after all this devaluation. 5p wedge so far, needs a strong push to create a swing low morning star that maybe will lead to break the...
Semiconductor's aligned performance with major indexes is well known and well advertised. Many felt disappointed and lost money - myself included - when they broke year's old resistance. With an empty chart - that always help - found the following: -Doji at the upper boundary of a bearish wedge -127 fib resistance -Monthly old money flow divergence, as well...
Lot of ink and lot of blah blah from talking heads about the H&S in Biotechnology. Will break or run the stops first? Which is the path of least resistance? 32% short float. Crowded? Short covering maybe in the cards? Cheers P
Dollar index breakout imminent? Or back off from resistance? Multi week triangle break backed by IH&S? Did commodities went too much, too far as the following chart shows? Today's candle critical. Cheers P
Looks like major European indexes are due for a pullback Small caps, that led the rally so far, are retreating and maybe some profit taking is taking place, as the ratio between small/large caps show in the attachment chart Cheers P
Price hit the upper boundary of the wedge, where entry was set As Kumo shows, trend is still up, while area is supported by MA 30 too Regarding $TUR, price hit the possible NL and down trending MA 30 Cheers P
Update from previous week's short. Wedge finally broken. Apart from fibs, levels of interest added, where price might bounce Cheers Panos
Price is checking 618 fib and the intermediate uptrend line from 2013 lows. Little lower is the upper boundary of the 5p wedge that needs a retest too. Daily closed yesterday at BB3. $TUR on the on the contrary looks like checking a possible NL of a multi month H&S
Apart from the possible Gartley, price attempting to close above Kumo. When Chikou Span (lagging line) confirms the close above cloud, longs will be initiated towards 104.50 area
... or better a classic one. A nice pin formed but its counter, against the trend. A possible ABCD might be completed with equal legs, but might be extended to 1,618. Fib confluence Gann 3/1 connecting June 11 lows with previous and current highs I'm short and a second position will open if this week's lows break. Mind your position sizes, above all, its...
If juniors can print a hammer by the end of the week in the ratio with majors, it will be a good sign for gold too.
Fib confluence at 8670 plus prior supply level on weekly. One more short to gun if break above this level!
One of favourite miners, is correcting after price met both the C&H target and 1,618 fib area. Having gained more than 200% than GDX, and more than 50% alone in the last 3 month miners rally, this mid tear producer & royalty miner has a long way to go in the future imho. Royalty streams from $GG, who announced that Eleonore project has more than 1 million ounces...
If it wasn't for the correlation tool, who would believe that $SPY loves to follow this chart? Not me, for sure. Just hit the usual supply zone again, with a piercing, suspicious, candle. Kumo resistance here too, while future cloud shows price between ranging and down. Not a word more about the divergence between the two. Still there since last summer.
Although I understand the bullish side, as price is right at intermediate uptrend line (and MA20), the fact that the weekly $EURUSD chart is close to complete an evening star, will have a major effect on most pairs imho I don't believe that the infamous daily H&S in this pair will break in the next day or two, but possibly it will finally break within the next...
The ratio between $DSUM - yuan denominated bonds - against $IEF, says probably yes, even for short term. The latest popular odd couple of $USDCNH reached supply zone.