patricktapper

patricktapper

Watch out for turn around Tuesday. For a little rally maybe.

patricktapper

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.

patricktapper

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...

patricktapper

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.

patricktapper

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.

patricktapper

More downside momentum. Targets are .7120 and .7020

patricktapper

Clearly flipped. Volume, and breadth are clearly showing more downside. Next targets are montly and quarterly pivots @ 423 and 414

patricktapper Updated 

Not sure yet. Target is R2. Convergence on weighted A/D and a hammer candle was the clue for this rally to start

patricktapper Updated 

Trading off quartlerly pivot. Volume increasing and stochastics are looking favourable.

patricktapper Updated 

Price has stopped dropping. Favourable price action, volume and stochastic convergence about to appear.

patricktapper Updated 

BTC recently had a strong bullish candle near long term pivots. Volume is increasing and stochastic is showing a positive convergence with price.

patricktapper Updated 

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.

patricktapper Updated 

Divergence and levels are the same as XJO. OBV is very poor.

patricktapper

Found good support at long term pivots. Bullish price action. Increasing volume and stochastic in favourable position.

patricktapper

Outside up bar in yesterdays session. OBV is increasing, and the weighted advance/decline line is showing a bullish convergence. Also crossed the zero line. All things being equal, we should expect second day follow through and more upside to come.

patricktapper

Volume has not turned yet. Wait to see what happens during the RTH session.

patricktapper

We may have a relief rally if price can trade above pivot. There is a convergence on the AD line and volume is turning up slightly.

patricktapper Updated 

Aussie still looks weak. COT shows Non-commercials are short by nearly 2:1 and Non reportables (retail/small traders) are positions 2:1 long. This is ideal positioning to be short in this market.