DevilTrader168

DevilTrader168

HSI gapped up this morning and broke hourly trendline resistance as the market got some relief on the last day of 2018 after U.S. President Donald Trump reported “big progress” in trade talks with his Chinese counterpart. Short cover if price breaks 26000...

DevilTrader168

From a technical and Fibonacci angle, we should see a halt of the recent deep correction near $250 (i.e. 0.764% correction of the 2017's bull run started from $180 to $475). The 2018's correction was widely expected and from the previous historical data of the two big corrections of Tencent, a 40%-50% drop from all-time high should attract bargain hunters to...

DevilTrader168

" The dramatic bounce on Boxing Day marked the biggest single-day upward reversal for almost a decade. " U.S. stocks halted a two-day rally as thin trading added to already-volatile markets ahead of the weekend. The S&P 500 ended the session lower but held onto its first weekly gain in a month. Trading was still volatile after a roller-coaster session Thursday...

DevilTrader168

At the beginning of October, it seemed like it would only be a matter of time before crude oil headed back into triple-digit territory. While NYMEX WTI futures traded to a high at $76.90, the nearby ICE Brent futures moved to a peak at $86.72 per barrel. Both of the oil futures markets reached new highs for the year and their highest levels since way back in 2014...

DevilTrader168

Long positions still at below 2350, I will take some chips off the table at above 2500 or near Fibonacci resistance levels.

DevilTrader168

HSI failed to follow US markets dramatically rebound after the Christmas holidays and price quickly turned negative to below 25500 from 26000 level as data showed China's industrial profits fell for the first time since December 2015. A weak sentiment still remains intact as US-China Trade War is still a concern to the economy and the rising trade tensions with...

DevilTrader168

HSI failed to follow US markets dramatically rebound after the Christmas holidays and price quickly turned negative to below 25500 from 26000 level as data showed China's industrial profits fell for the first time since December 2015. A weak sentiment still remains intact as US-China Trade War is still a concern to the economy and the rising trade tensions with...

DevilTrader168

The trend is still bearish with no sign of moving higher. Keep small short positions and sell on every rebound, stop loss if price close at above 26000.

DevilTrader168

The V-shape rebound was actually quite dramatic at Boxing Day. My first rebound target was reached at 6300 and I expect the rebound will last for a few days and next upside target will reach 6500 level at least.

DevilTrader168

S&P 500 surges most since March 2009, and stocks fell to brink of bear market at extremely oversold level. As mentioned early, price will find its support near weekly trend-line support at 2300-2350 level. This rebound is well expected and I guess it might last for a few days before it losing momentum. Well, I guess all algo driven systems are making good profit...

DevilTrader168 Updated 

NQ is heavily oversold and it has already hit my short-term downside target at 5800. I am expecting a technical rebound back to 6300 level. Speculative buy at below 5900, cut loss if 5800 support fails. Good Luck.

DevilTrader168

Nikkei dives over 5% amid global economic fears and tumbles to 20-month closing low as investor sentiment was hurt by a continued sharp fall in US equities and the yen's strengthening against the dollar. Index drops to below 19,000 level which was expected and accelerated by speculative futures-led selling. Technically, the Nikkei falls back to long-term trend...

DevilTrader168 Updated 

Should see some supports near 50% retracement measured from 2016 low pivot point. My first downside target at 5800 reached! Just didn't expect to happen at Christmas Eve...

DevilTrader168

Amid current Fed's move and stock markets weak performance, investors are putting back their money into US 10Y Treasury. My view is Fed will slow down the normalisation of interest rate after the first half of 2019...

DevilTrader168

VIX has been accelerated after index broke important support and it might hit an extreme high level before it pulls back to normal...

DevilTrader168

The pivot low support near 24500 was pretty strong and HSI futures failed to challenge 27500 after the G20 meeting. Obviously, HSI didn't follow US stocks sharp correction much for the last few weeks. It would be interesting to see how market reacts after the long Holidays... Still expect HSI to hit 23500 level or below. Let's see...

DevilTrader168

'Once Bear market confirmed (20% decline from a recent high), the Bear markets would have lasted 13 months on average, and usually stock markets tend to lose 30% of their value. During those conditions it usually takes stocks on average 22 months to recover according of analysis from Goldman Sachs.' Well, the decline has been accelerated after breaking the...

DevilTrader168

I applied Renko chart to weekly trend of Fed Fund Rates and drew a trend line on the past pivot highs. It looks like the normalisation of interest rate will end at near 3%...