I think we have a seasonal bullish commence here. There is little supply at the extreme.
Watch out for a little turnaround. We are at quarterly S2 pivot.
I think the downside target will actually be around the yearly S2 level at approx. 6,800. Oh my gosh.
325 could be the correct next target. These are yearly pivots.
Watch out for turnaround Tuesday. For a little rally anyways. Nicely working off pivots.
Here is the SPY with weekly pivots. Trading to the tick. You can see this is looking like buyers have picked up the ball. Upside volume has increased. 1st upside target would be the weekly pivot, then R1, and then if buyers push for more they may try and close the gap level around 425.
Interestingly SPY is at Quarterly pivot after yesterday. This level also coincides with weekly and yearly pivot support levels. On balance volume is increasing slightly, while the Stochastic is near to turning more bullish. I wouldnt be suprised to see a kick up on Tuesday's RTH session and then maybe consolidate. Smart money on the DOW and RUSSELL are still short...
Next downside targets are shown on yearly pivots. Smart money increased their short positions and are two times short compared to long positions on YM and Russell COT report. ES and NQ are unusable as they are used for hedging.
Halfback rally for our index. Relief rally. All things considered, Monday should be a down day after most stocks on the NYSE took a beating.
More downside momentum. Targets are .7120 and .7020
Clearly flipped. Volume, and breadth are clearly showing more downside. Next targets are montly and quarterly pivots @ 423 and 414
Not sure yet. Target is R2. Convergence on weighted A/D and a hammer candle was the clue for this rally to start
Trading off quartlerly pivot. Volume increasing and stochastics are looking favourable.
Price has stopped dropping. Favourable price action, volume and stochastic convergence about to appear.
BTC recently had a strong bullish candle near long term pivots. Volume is increasing and stochastic is showing a positive convergence with price.
Looking weak near all time high level. Coincides with last quarters R1 pivot. Divergence on Stochastic shows weakness. No volume on this index, but the facsimile ASX200 CFD shows volume decreasing. If you're long on any Australian stocks, think about taking at least partial profit.
Divergence and levels are the same as XJO. OBV is very poor.