Will the bears win and send GE towards 2008 lows? What will happen to GE if the market will turn? Things aren't looking good right now...agree?
I've been writing about the option of a bearish correction wave in DXY in the recent weeks. Last week's stop hunt leads me to think that this time it will break down and continue towards the 200 MA line. All it needs now is to break the short term support....
SPX continues higher and tries to break the 2800 handle. In case of a successful breakout, a visit to previous record high can be its next destination. Extremeley bullish? How about new record high just below 3000 as the harmonics suggest? A fail to break 2800 can lead to a short term correction back to 2750.
The bearish Bat pattern was confirmed last week with a strong bearish reaction to the PRZ. The Dollar is still above support (!) but it looks like near term trades should focus on counter Dollar opportunities. Do you agree?
XLU is approaching a weekly support zone following the breakdown of the weekly wedge
Oil has completed a bearish Butterfly pattern. This is a short term bearish opportunity that can lead to a bearish pullback. The long term pattern to focus on is the weekly inverted Head and Shoulders pattern that I mentioned in my previous analysis. Pullback to 60? It's an option
Breakout scenario in XLE Consolidation range now should act as support
The previous harmonic pattern (completion near 1.2) has failed. Now the relevant pattern is with a PRZ near 1.18. Stop loss should be placed below 1.17 (structure and X)
2600 is being tested again. Breakdown can mean the end of the bull run.
EURUSD reached the target zone and hits 1.2 Now the bullish Bat is in focus
SPX with a false breakout. SPX price is back inside the Triangle pattern following an attempt to break out of the downtrend line. The support zone will be tested next. Breakdown of the support zone can lead to a massive sell-off in SPX
Will probably test the downtrend line today (or early next week)
Weekly Inverted Head and Shoulders pattern in Crude Oil? Notice the weekly structure zone that turns from resistance to support. Real break? False Break? Time will tell... Right now, things are looking bullish for Oil
Buyers are reacting to the Gartley's PRZ A correction towards the trend line ahead?
Google is testing a weekly support zone. Buy the Dip?
The Financials are looking strong today as we get closer to FOMC minutes. XLF is about to complete a 61.8 Fib correction to the bearish move that we had two weeks ago when XLF touched 2008's levels. This can be the end of XLF's bullish pullback... if it's a pullback :) XLF will definitely be influenced by today's minutes. Check it out
False Break scenario (bearish) Or continuation? What do you see/think?