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powerintegral

The whole Defense industry is extremely overbought in all time frames, even in monthly. Stocks are reaching important long term Fibo projections. NOC is making no exception, showing RSI bearish divergence and declining volume in parabolic rise. Excellent risk/reward on the short side, target near $167, even $135 possibly.

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MCD is at its Elliott Waves monthly time frame target in the $132 area. 5 waves completed RSI14 is showing bearish divergence. MCD is testing the upper band of its rising channel. $132 area is corresponding to the 1.5x the height of its previous channel projected on its breakout point in 2008. Minimum target in the $101 area, then possibly $82.

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The XLU has recentlly reached it's high of early 2015 near $50 which seems to offer strong resistance. A double top seems to be in process. Elliott waves count of 5 waves is completed, a correction seems to have started towards the $46.70/$45.35 area, The wave III should just have started, a fast drop is expected. RSI (5) and MACD are showing beairhs divergence...

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USDCAD reached key support near 1.29. A rise from here is expected for a wave 5 that would eventually could bring the pair to the 1.60 area. A break above 1.3650 would give credit to this scenario while a break below 1.290 would weaken it significantly if not completely. This corresponds with crude oil that reached important resistance in the $40 area and should...

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A 5 waves impulsive up movement seems to have been completed on the raito of XOP/XLE. A pullback is expected soon. A break above 0.49 would invalidate this view.

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Toppish wedge pattern, near long term trend resistance. Key support at $34.20, broken opens min $31.75. Standard taget between $29.65 and $28.20.

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Crude oil seems to have completed a wave (2) or (b), possible impulsive wave (3) or (c) coming as long as $26.74 holds. Target min at $35, max $39.

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EWC is oversold and at key support. Excepting a rebound.

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Crude is reaching important Fibonacci projections, at important graphical support. USDCAD near key resistance around 1.4250 while copper is at important monthly support on trendline linking the lows near $1.95/$2.00. The whole commodity complex seems due for at least an important rebound, at least the risk/reward is starting to be interesting.

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Mastercard seems to have completed a 5 waves rise since 2006. Therefore we are expecting a 3 waves process correction over the next few months or years starting with a wave A with a target around $79. *Disclosure: I am short MA at the moment of this publication. This is only an idea and shouldn't be taken as an investment advice.

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US dollar index remains bullish as long as 96.70 holds. Target at the top of the channel near 108/110.

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Alphabet is approaching its Elliott wave 5 target of $815. The stock is highly overbought, far away from its 52-week moving average and showing bearish divergence on its 21-week RSI. Expecting a pullback over the following months towards $630 at minimum, max $520. A weekly break above $850 would invalidate this view.

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The S&P500 is at key graphical resistance (line linking the tops) and standard Elliott Waves targets. RSI-14 Daily is at resistance also. A break below the line linking the lows since August would validate the bearish count towards the 175 area on SPY. A daily close above 207.35 would invalidate this view.

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USDCAD at key resistance. 5 waves up movement near completion. Expecting a pullback towards 1.25 first then 1.20.

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Ratio of XLF/XLY is at important Fibonacci projection level Has potentially bottomed, good upside potential. Indirect way to play a possible rise in interest rates. Key support at 0.30, a break below would invalidate this view. Bullish divergence on RSI-21 week.

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Ratio XLF/XLY at key Fibonacci support and potential reversal to the upside. Bullish momentum (RSI-21) divergence on weekly chart. Indirect play for the believers in the rise of interest rates.

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Impoirtant mulitple resistances of Fibonacci projections, time to sell and/or short XLY.

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Important divergences on RSI-21 monthly. Important Fibonacci projection resistance. Expecting a major correction towards 15 450/14100