Will likely retract to 0.7360 downtrend line in the shorter term (red arrow).
S&P500 index - Weekly chart. Healthy UpTrend. Red line since 2009 to 2015. Sideways consolidation around 2015. Pink UpTrend line from 2016-present.
Look at past S&P500 'classic' Double Top reversal formations (double equal height arrows). Current price breakout is unlikely to complete into a Double Top reversal formation, since the second peak (green arrow)is significantly higher than the first peak. Double Tops A double top forms when the price makes a high within an uptrend, and then pulls back. On the...
Apple- A long term fan. Buy and hold. Alternatively, trade it. Buy, when it rises above the 200-day Moving Average. Sell, when it falls below the 200-day Moving Average.
Facebook (FB)- Broke long-term UpTrend (green) line on log daily chart, and is also captured below now a flat 200-day Moving Average. Both not evidence of a actual trend reversal, however one to watch closely.
Same thing for TQQQ as NDQ or NDX, all showing nearby support.
NDQ- Short term, may test support of 20-day moving average (brown line). Currently price action is still above a rising 20-day moving average. 200-day moving average also nice health upTrend slop.
IVV- 'A picture of Power' To quote Oliver Velez Price action above the rising 20-day simple moving average, which in turn is above the 200-day simple moving average.
Pink UpTrend Line- 2009-2015. 2015- Sideways trading. Red UpTrend Line 2016-Present day.
Nasdaq100 (NDX) Vs ROM (Double leveraged US tech ETF) Vs TQQQ (Triple Leveraged US Tech ETF). To all the naysayers.. that leveraged ETFs don't track their underlying index by the amount they're leveraged to. Look at the following long term chart. In a bull market, they more than adequately do!! NDX- x3 return since march 2010 ROM- x8 returns since march...
Nasdaq100 index. Healthy UpTrend. Red line since 2009 to 2015. Sideways consolidation around 2015. Pink UpTrend line from 2016-present.
ProShares Ultra Technology (ROM) Double Healthy UpTrend. Red line since 2008 to 2015. Sideways consolidation around 2015. Pink UpTrend line from 2016-present. ProShares Ultra Technology seeks daily investment results, before fees and expenses, that correspond to two times (2x) the daily performance of the Dow Jones U.S. TechnologySM Index. This leveraged...
Still working on this one. Incomplete analysis. If someone has any ideas, feel free to comment.
BitCoin - Bearish near term Descending Triangle.
BitCoin - Stochastic indicate over bought conditions in a secular down trend = Excellent shorting opportunity! The red arrows shows when the Stochastic indicator is over bought (above 80), corresponds with great exit opportunities in a secular decline (started Dec '17 and ongoing). Failure to break convincingly above US$6,800, adds weight to the above.
BPT - Bullish Ascending Triangle formation.