I've been bearish and surely this inverted H+S pattern is TOO OBVIOUS but let's see if it plays out. Long 4150 stop 4050 target 4600 area. By the way I thinks Bonds are close to a reversal lower in yields 1.05% Bunds 3.20% Ten Year
We may be making an interim top in DXY at 101. Looking for range 92-102 over coming months.
GDX relative to SPX looks like it is bottoming - note RSI divergence the last several months plus huge support at recent lows on relative chart going back a few years. It seems to me that GDX (gold miners) are probably going to significantly outperform the overall market in the months and quarters ahead. I am stepping into some selective longs looking for alpha.
Beaten down and sentiment levels low, the S&P500 looks to be "in the zone" at Fib support and ready for at least a 4-5% rally potentially more
Very long term key chart levels for the EURO Uptrend for 10+ years Retest from top side of breakout of med term downtrend As a contrarian it makes sense to be buying EUROs for lon time horizon investors
I never (rarely) post about Bitcoin BTCUSD BTC/USD But at a high level this looks like an interesting potential level
Today saw a potential capitulation low in the Indian NIFTY stock index, marking the end of an 8 week sell off falling 30% from January highs. Today's reversal keeps the trend up longer term with prices within the long term channel from the 2008-09 lows (today also marked 38% retrace of the bull market from 2009-09).
Longer term weekly chart of China A50 stock index. Looks to be a fairly textbook pullback (abc) to support levels which were prior resistance in 2015 and 2019 before breakout higher. Given RSI also bottoming it looks like the support level will hold and enable another leg higher over coming 12-24 months.
The last time BITCOIN was this oversold was March 2020. In the following 12 months it rallied 1000%. I'm not saying there will be a 10x rally from here but in the last 48 hrs I have been a buyer of Crypto and selective Blockchain related stonks. See you in 6-12 months.
If I didn't know any better I might suggest that NDX is about to hit resistance (wave channel and rsi) and roll over for another 3-4% leg lower before a more meaningful bounce next week
Potential 40% upside with risk of 10%-15% over coming weeks if classic inverted H+S plays out with target around 50,000 and stop at 30,000
DXY has now retraced Fib 61% of the 2021 up leg and the 90.80 area has a decent shot at supporting for another leg higher into the ideal 94.50-95.00 zone over coming weeks.
Falls over last 36 hours look kind of scary but put in context of the run up totally normal. I am not a crypto permabull or apostle and view this as just another vehicle to express a view on macro themes. Pullback to $42k could provide an interesting area of support for possible next leg higher.
bear flag about to break down? targets much lower (again)
Things are aligning I believe for a decent short/med term top in stonks. Short DJIA 27250 stop 28000 target initially 25000 (with outside chance of perhaps 23000) in coming weeks/months.
Similar to AAPL, the next new high in the next day or two above 217 in MSFT should result in at least a short/med term TOP Look to sell above 218 stop 230 target 185-190 zone.
I am calling a top in AAPL on the NEXT high above 446.5 (currently 445). I am a seller above 447 stop at 467 looking for a return to 360 (yes 360) and will likely have to adjust at end August once the stock splits 1-4
Copper reached my long held target below 2.22 and now waiting for signs of a bottom/reversal for longer term rebound (green wave C) Confluence of supports at 2.20 zone, channel, c/y=a/w and where wave e (blue) of bigger triangle wave B (green) is 78% Fib retrace of length of wave d (blue) of triangle. Not confirmed until get a reversal and wave e still has scope...