About meRetired but active private investor. I used to provide technical analysis to many of the largest trading houses in London and figured I might as well share ideas on this excellent website. One of the best websites out there for traders. Glad I found it!
S&P 500 Index SPX500USD
Was looking for a selling climax around yesterday's open, leading to a counter rally which would last into Friday's US open before falling away again.
Well we got the counter rally just after the open in US, leaving a spike off the low at 2708 and 9 points from the next support line at 2699. Not much good, really.
Then the S&P had to...
Bitcoin Next Trade Points from Here
Hard grind right now but hoping for a decent trade when we finally get a break of the bigger flat wedge formation - or larger triangle depending on the eye of each beholder.
Largely neutral inside the triangle though.
A break below 6529 on Bitfinex needed to flip short back to 6380-6337 range at least and more likely to 6122...
S&P 500 Update SP1! Chart 12:36 Bst 07:36 Est 22nd September
The S&P has given back 8 or so points from the high reached
ideally it will come back to 2935 around the open and bounce
again from there to give another entry point.
This still looks positive whilst it holds at 2935 and above.
S&P 500 Update SP1!...
Nasdaq 100 NDX
Reading 2578 now - can come back to 7569 on the open but
should hold hold up here if the day is to remain a good
one....think it will be after a twitchy start. Marketmakers
need to try shaking the tree to get some stock on
board...don't think they will shake out much though - which
should bode well for the rest of the day if correct.
Bitcoin Next Trade-Points
Bitcoin started to fall away as US markets opened yesterday - a risk-off day across most markets. It bottomed as markets closed. Perhaps Bitcoin is becoming so institutionalised that it will start to follow risk -on and off periods across major markets more closely as time wears on.
Too early to say yet, but worth watching to see how...
After rallying from the 11895-11869 range - leaving one defiant spike at the lower line and the bodies of the 1 hour candles sitting on the upper line - the Dax is now testing the first resistance line at 12093 and should rally to 12141-12166 range though it may wait for the US open to do so.
This range is the underside of important structure to left...
13th September 08:28 Bst
Shanghai Composite Index SHCOMP
A Technically Perfect Bounce
This was meant to bounce from the the big double bottom
set-up at the 2639 line. In the event it fell to 2647 before
bouncing about 1% or so.
However this index is so far still stuck below the upper
parallel of the original downwave and is therefore not out of
Hang Seng Index Update HSI 13th September 08:13 Bst
We were looking for a good bounce from the 26265 line which
is the top of the gap to left of price and the meeting of fixed
and dynamic lines of support.
The low was 26219 before rallying 550 points.
It's now testing the first minor resistance level at 26920 from
the previous low and meeting profit taking in...
FMWO World Markets Near Term Outlook
This index only prints End of Day on Tv.
But it's still useful for a birds eye view of world markets.
It was meant to bounce from the lowest parallel.
Thankfully for world markets it has done.
It should rally back to the 6287 line and then, after a little
consolidation, on to the old high at 6359, about...
S&P 500 Update SPX500USD
The long was triggered right on the highs yesterday and was
stopped out for 2 points loss.
A short was was then triggered from 2903 to the 2894.4 line
but the low is 2895 and it's sticking. Not great all in all.
Have closed out as it looks to be sticking for now.
There's a little head and shoulders forming right now with a
Bitcoin Updates Bitfinex
Bitcoin finally broke higher at the highly inconvenient time of 01:55 Bst 20:55Est.
For those lucky enough to be around for it this triggered a long from " the break above 6500 for a scalp to 6616.
If volume stays low look to close down a little below here .
The 6616 line is the neck-line of the still smouldering IHS.
Any break above here...
BTGUSD Next Short Set-Up from Here
The wider spread compared to BCHUSD has seen
volume shrink away on this pair and swell on BCH.
But it's still a good shorting vehicle nevertheless. It halved
from 26 to 13 in a matter of days for example.
"No coin is ever too low to sell" - to update a W D Gann quote
for the 21st century.
The downtrend is still strong here...
This has been a good short through most of August, down 20%+
from the 542 break level to 426 now.
There was a second chance to short again from the lower
green arrow as it broke the continuation pattern at 46 which
has yielded close to 10% this week.
But it's making a little double bottom here and the near term
downside target has been touched...
XEMBTC NEM BITCOIN Dead Man Walking
NEM is another coin being marched down a slow road to oblivion.
Once 15 is broken it should fall away to 12 and then 9.
Continue to sell rallies back to the upper dynamic and/or the break
below 15 when it comes.
48/7 36/5 25/4 18 15 12 9
Testing support at 141 but still not looking to buy it.
Waiting for a break below 141 to short again back to 124
initially and then 903 and finally 60-57.
No coin is too low to sell if the pattern is strong enough to do so.
Best case scenario for this one is a counter-rally back to the
dynamic above it before it falls away again. If so...
The Dow began its history with 12 constituents and grew over time to become the Dow 30 that we know today.
There's those numbers again.
The old lady is now 122 years old and still as beautiful as the day she was born. But beauty is in the eye of the beholder. Maybe she doesn't do it for you...
Dow Futures Update DJIA1!
This index had to stay above the 25702...
BTCUSD Bitcoin - Next Trade Points from here
Bitcoin broke lower overnight but stopped just a few points above the 6226 line on Bitfinex and then rallied back above the 6312 line, dancing either side of it for a couple of hours as it made a small bull pennant before surging back to retest the upper boundary of the triangle again.
A Groundhog day.
Price has now...
AlphaBet GOOG Defining Day Ahead
This turned a little tricky on Friday. A mean/invisible gap on the 15 minute chart and not even there on the 60 minute completely arrested the decline fully 8 bucks above the 1180.85 target line.
The stop was then lowered to 1201 to protect what was left of the profit from any shorts from the 1206.28 line - the original gap...