Hello Traders, 28000 area is hard resistance for Hang Seng. It failed to exceed the high of 27771 on February 18 and tumbled lower for the remainder of the week. It closed an open gap, left by trading on February 10-11! One more open gap is from 26786-27174 from February 5-6! At the bearish count, this open gap will be closed for HS and the index is ready to...
Hello Traders, at my last analysis I wrote the following: „...N50 left a long lower stab, which could imply the acceptance of higher prices in the coming hours and may for the remainder of the week.“ This is what happened! More to observe is the fact, that price has left an „Island-reversal-gap“ at chart (30 min), which more often than not indicates a change of...
Hello Traders, NIFTY50 advanced to 12246 (intraday high) on February 14 and fell hard. It left four red candles at chart and today it creates a (red) „Hammer-candle“ and closed above the 0.5 Fibonacci (11931) of the countertrend from 11614-12253. The latter level was the 0.786 Fibonacci of the decline from 12427-11614! N50 left a long lower stab, which could imply...
Hello Traders, Hang Seng advanced to the middle boundary of the trend channel and reversed sharply today. While the move from 26144 – 28055 closed below the 0.618 Fibonacci (@28017) it could be all of it and maybe countertrend (three-waves)! If so to come, the next move is to the downside, and a close of the open gap from 27241-27514) could be the next level to...
Hello Traders, on February 7, N50 shows a „bearish-engulfing“ and I mentioned 3-5 days of declining price ahead. In fact, N50 declined but just for the following session and gaped to the upside the very next day, creating a „Doji“ on a daily basis. Today the index gaped once again and make a new high at 12201 and negate the bearish pattern. At the hourly chart,...
Hello Traders, at my analysis, published on January 31, I placed a note below the chart, meaning that the next significant move is to the upside, may as a „countertrend“! The next day (Feb 3) HS gaped to the downside by the opening bell and raise since that day nearly 1500 points to closing of 27900 points today. While this advance is not a clear „impulse“ the...
Hello Traders, after 4 advancing days in a row, N50 touched the range of the 0.618 Fibonacci of the decline from 12427-11614 @ 12117and advanced to 12160 on Thursday, declined yesterday to the downside, closing the day at 12098, intraday low @ 12073.95, and leaves a „bearish-engulfing“ pattern at chart. A/d-ratio was flat and TRIN closed at 0.47 what indicates...
Hello Traders, Pinterest (PINS) popped in after-hours trading on Thursday night to a new multi-week high after the earnings were announced. The following session the stock opened with a massive gap up and make it`s high in the very first minutes of the session @ $27.25 and declined for the remainder of the session. It closed the day @ $25.20, and leave the gap...
Hello Traders, Hang Seng declined to 26145.6 yesterday and then reversed to the upside. today`s session let Hang Seng gap to the upside and closed the day @ 26676. So the bullish idea of a series with „one`s and two`s“ is still valid. Note, that HS is on the way to touch the lower boundary of the trend channel that may occur at tomorrow's session. Stoch and MACD...
Hello Traders, Hang Seng gaped to the upside by the opening and made a high @ 26818.8 at the first trading hour. The index then declined for the remainder of the session to an intraday low @ 26295.5! The a/d-ratio was negative with 15 stocks advancing or neutral and 35 stocks declining today. On the two graphs below you will observe the bullish and the bearish...
Hello Traders, not much new to add for NIFTY50. N50 declined to my potential stopping area at 12025 where it met the 1.618 Fibonacci Extension and may complete a „flat-correction“! The pullback since shows a gap-up and retraced near a 0.382 Fibonacci of the total decline from 12427-12025! It is not clear, to my view, if this was all of the declines, so we have to...
Hello Traders, Hang Seng gapped this session to the downside, leaving a massive open-gap @ 27949 – 27101 and crossed the middle line of the corrective trend channel. So this channel implies a corrective „character“ and opens the door to lower prices in the coming sessions. The high on January 20 @ 27174.90 possibly was a wave „X“ as the move broke out of the upper...
Hello Traders, NIFTY50 declined this morning to 12107.50 after it took a „short recovery“ as I wrote at my last analysis. The „gap-down“ which occurred this morning is the start of a wave „3“ to the downside. The question is: „Is it wave „3 of c“ or is it wave „1 of 3“? The move from 12427.95 that started on January 20 looks not complete so one more leg down is...
Hello Traders, at the 2-day-chart you will observe the bullishness of BYND as of the past days. The stock advanced to 135.25 and reversed after, may have finished a wave „3“ at the top. The behavior since is best to interpret as a „flat, as long the high @ 135 is valid. This implies a decline to or around the area of the low @ 107.25-107.08 in the coming hours and...
Hello Traders, on January 20 NIFTY50 popped to 12427.95 and reversed sharply for the remainder of the day. It declined lower at the following hours to 12088.80 on January 22 and start a countertrend after it reached this area. The declining structure is not clear to my view, not implying a clear „five-down“ neither a clear corrective pattern. At the 15 min chart,...
Hello Traders, Hang Seng topped on January 20 @ 29174.90 and declined to 27706 (intraday low) today. This move is a „three-wave“ down and left an „Island-reversal“ gap at chart. This kind of gap often occurs at the end of a trend and signals a change of trend possibly. If this correction was an a-b-c of an expanding-flat, the move can progress to lower targets, or...
Hello Traders NIFTY50 closed the week @ 12352.35 and moved above last weeks high, which was a „hammer-candle“ and it is bullish. Any price action below the hammer´s candle low @ 11929.60 open the door to much higher price still, `cause a hammer candle reflects 3-5 weeks (at this case) of advancing price. This weeks high touched the upper rising trendline, blue,...
Hello Traders, not really much new to add. Hang Seng failed this week to decline significantly lower and the move from 29149.50 look like a sideways consolidation. If so to come, HS will make a modestly lower low below the 28619 from January 15 to complete an a-b-c pattern. At the longer-term chart there is to observe, that HS is clearly in an uptrend and closed...