SPY is looking to test the low of the February dump this week, printing an intraday low today of 259.85. We have three supports in this range from the beginning of the year: 259.05 from May; 254.67 from April; and 252.92 from February, the most important level to hold We are once again oversold on the daily chart, and the bullish divergence on the RSI and MACD...
Having watched the S&P500 drop to lower lows twice this week and it's becoming clear the market wants to test the low of the February dump at 252.92. We came close Friday with the low of day hitting 262.29, but in my opinion the market needs to break 260 and test the 250s in order to have confidence that low can hold. Back in February we had a much faster dump...
Hi Guys, Looking at the current scenario, the situation doesn't look good bank nifty can easily slip at 23500-23800 levels from here which is pretty much likely and if doesn't stop there it is going to slip to 20000-20500 levels where it has a strong support level. On the upside it has a huge resistance around 26000-26200 level, so to move upside it has to break...
Dow Jones Technical Analysis
This is unusual for us to analyse the S&P500 since our expertise is in the crypto space, but since the last S&P500 minor crash interfere with our bitcoin prediction, and ruined nearly two months of perfect accuracy( imgur.com ) we had to come and check how serious this really is. A another chart will be released soon of today's in the comments 16% explanation...
SPY on the daily timeframe has a daily inside bar and it's second bearish candlestick in a row. Low of the day did hold a long term trendline (blue) from back in January 2016 but also closed below the 200MA (green). So far we're looking at a very weak bounce on the daily and a potential bear flag. The amount of bear volume stands out compared to the bull...
We doubt that there will be much bear move at this point, but we shall continue monitoring the price movement before making any decisions. Dow fell last week and got some price rebound off the supply zone. Yesterday, we saw it moved around 300 points which was more than what we expected. At this point, we still have a slight bull bias in the near term but it...
Hi Guys, Titan is making a perfect head and shoulder pattern on the weekly chart which is bearish. It is the perfect time to get short(and get out if you are long). It made a bottom in November 2016 and then it never looked back. It had a good gap up opening in November 2017. Till April'18 it was making higher highs but in Aug'18 it wasn't able to cross previous...
SPY saw a much higher open today after a bounce premarket. Bulls were unable to break the high of premarket in the first moments of trading, and after a hard battle finally gave up and dumped back towards yesterday's close. The bulls bought the dip in the afternoon and we're left with a daily inside bar, and a potential bear flag. Today's high rejected from the...
SPY had a small gap down open and filled the gap before dumping much of the day. We saw a brief pause at my red trendline before bears took back over and dumped past it. The hidden bullish RSI & MACD divergence I pointed out are likely to be negated tomorrow; losing 268.49 will negate that divergence. Today eclipsed yesterday's volume by 30%, giving us the 4th...
Look for a failure of the price block highlighted, similar price action noted in the previous highs of 2000 & 2008. We see the relative strength fade as price continues to rally creating regular bearish divergence, after the break of the trendline hidden bearish divergence develops as the RSI shows higher highs and price continues to fall. 2000 and 2008 were...
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Hi Guys, As you can see in the chart, It had a healthy correction and heading towards the upward momentum. And also crossed the 55 EMA line which is a good sign for it.
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