Fibonacci retraces from ATH (338.28) to March low (297.51)
-We are currently trading above 50% (bullish pivot strength)
-We haven't broken the 61.8%
(still possible to short or take profits from long until 322.68-324.28 break)
Longs would be smart to take some profits off the table at 320, 322.68, and keep a passive position to ride to 338.28 ATH.
Break of upper...
SPX has followed a high probability upward trajectory as it clears 50% of previous falls and fills gaps.
1)We have descending trendline, confirmed broken, small gap above and onto ATH.
2)Clear gap above to 384-385 area and retrace to 377.34 at some point next week, after which we will likely see BTD continue and onto new highs.
Keep it simple, stay long, keep...
Bullish divergence on the 4H price vs RSI chart, Aug 14 to Aug 27, RSI met higher lows, price met lower lows. A strong red candle on Aug 27 with a decent amount of mild capitulation volume.
It's a tell tale sign when one sees a large 4H, 1D red candle with high volume that touches a support range- many stoplosses were triggered.
To trade this divergence, I am...
UUP and DXY forming a descending channel +1.3% upswings, -1.7% downswings wide.
Inverse head and shoulders appearing, a touch between 25.03 and 25.08 sets up for a breakout entry, escape price 25.18, last key resistance 25.25
Getting long between 25.03 and 25.12, targeting 25.19 then 25.25. A break of 25.25, worth adding size to jump into the gap between 25.40...
The trend is still valid, we have declined 7.6% from the high of 194.35 with room to fall within the support trendline and 61.8% fibonacci at 178.25.
The play is to buy the lower trendline/golden fib(178.25), or the 50% fib (current price range= 181.33) in increments, and not add if that range collapses until next support level of 168.29. beyond 168.29 and this...
With all the bearish sentiment surrounding the dollar index, I'm looking to be a buyer. We have a lower trendline @ 24.50 area, and the weekly RSI 14 is at 31.51.
In the past 14 years, every RSI level below 30 has resulted in a swing gain of 9%-25%, even if it didnt capture the bottom. Cost averaging improves the accuracy of the dip buying.
Lots of support at...
GLD showed significant redemptions in in the ETF outflows, showing a shift in sentiment.
From the peak CCI of 241 on the daily chart, GLD reached 177, then a divergence commenced, with a peak to peak decline in CCI of 77%, despite a rise in price of 6.4%.
My two key support levels are based on anchored VWAP because they demonstrate the accumulate volume...
GLD and TLT led ETF redemptions in the previous 7 days indicating a shift away from defensive sentiment. SLV played catch up in July-Aug, ripping to 27.39.
Among the price/volume family of indicators, CCI showed the most dramatic price divergence. CCI cooled down from 401 to 124.90 while price rose 25% in the same time frame.
Using anchored VWAP from July 16th,...