A head and shoulders are forming, the head still needs to top. A believe it will top around 16800 to 17000. The market will retreat back to 15700, where the once resistance line as you see in August, September, and October, becomes the support line. Once hit there, I believe it will rise again maybe even pass the head, we will just have to wait and see. The...
There is a ascending triangle, which the lows are getting higher and the highs continually hit the resistance line. I believe that the Euro will break the resistance line and go substantially higher.
If breaks through resistance it would signal a new bull trend for November. If fails it would fall back to1670 area, which is the support level and go through the entire process again. This week will be a big technical indicator. Watch for earnings too, see how S&P 500 companies do. This will drive the market.
With the Eurozone finally moving out of recession the Euro is in a position for a new bull rally. The Euro has reach the upper triangle line and has broken the 1.365 resistance line. I believe with it will break the upper triangle line and will rise greatly after this summer. With investors having fears that the US markets are getting pricey and that earning may...
SHORT-TERM TRADE:Google's price had made an new all-time high, but the RSI is at the highest it has been in a year, 77. In the past, when the RSI hit 77 it has falling back. The all-time high is way above the upper envelope's line, when Google's stock price touches or rises above this line it has an correction and falls to the moving average. With such a high...
