themarketzone

themarketzone

IWM with nice run to the top of a weekly channel and the 61.8 Fibonacci level. We also have a weekly structure resistance. Will the Bulls be able to overcome this weekly resistance zone?

themarketzone

IWM, unlike the rest of the indices, is stuck in a consolidation range. It looks like it wants to break higher, but every time it reaches 210$ it gets blocked. If the S&P and the Nasdaq (All Time Highs) will turn lower, IWM may be the weakest link to target for bearish positions. Pay attention

themarketzone

Apple is showing signs of strength toward its earnings this week. The stock price broke out of a downtrend line and bounced strongly from support. I don't think that we will see new highs from Apple anytime soon (following the triple top pattern), but we could see a bullish pullback that will reach one of the structure resistance zones waiting above.

themarketzone

XOM price is stretched. The stock price recently broke all-time highs RSI signals that it is overbought. With geopolitical tension rising, it is risking to short the energy sector, but if you are looking to short XOM pay attention the weekly structure I marked on the chart. A close below this structure could signal a weekly false breakout and trigger shorts.

themarketzone

4 hours chart shows that the trend line still holds. On the other hand, the price failed to hold above structure. Resolution? Next week (inflation)

themarketzone

Does anyone else think the S&P 500 is over stretched?

themarketzone

The Dollar has been consolidating for a while now. The time has come to test the weekly trend line. A breakout could signal a long term reversal

themarketzone

IWM broke out of a daily trading range last week, and climbed towards a weekly resistance zone. The yellow price zone that I marked in the chart represents a weekly structure that acted as support... now should become resistance. The 61.8 Fib level could also generate some selling pressure on IWM's price.

themarketzone

Pay close attention to 40$ Two bearish harmonic patterns are in play here

themarketzone

IWM had a strong week. It is still in what I consider a Resistance Zone. So I'm currently looking for bearish positions and signs of weakness. Notice that IWM has generated strong moves before that turned out to be false moves. It will be interesting to see at which price levels we'll close the year.

themarketzone

Pay close attention to the weekly trend line and the 200 days MA line Going down? Or are we heading toward a massive rally? Time to make some decisions!

themarketzone

Apple is up by more than 4% today following its earning report. The stock is testing previous highs and also the top of a rising wedge pattern. This could be an interesting resistance zone to monitor if you are looking for a contrarian bearish trade

themarketzone

A potential bearish harmonic trading scenario involving a bearish Bat and a weekly structure zone

themarketzone

Interesting setup on the QQQ Weekly Double Bottom, AB=CD pattern and the 200 weeks MA line.

themarketzone

Bullish AB=CD pattern developed in the Russel. Momentum is being bulit. Still high risk as bearish sentiment still dominates the markets

themarketzone

Notice the bearish pattern with completion near 16,000 The market is still strong (Santa Rally)...but we should pay attention to that development. Tomer

themarketzone

An interesting pattern has developed in recent weeks... The reversal pattern was triggered last week following Banks Earnings.

themarketzone

200 SMA 61.8 Fibo Harmonic pattern Strong resistance zone ahead for XLE