S&P 500 After Hours Break Up Currently seeing a break up out of the downward channel in after hours trading. Longed earlier once bottom was in, looking for gap up tomorrow on open.
Failed to break today's opening high on last minute push up by end of trading session. Confirms that opening high is the top of a head and shoulders which is forming. Trendlines set up the right shoulder's peak and eventual bottom next week. Long overdue correction afterwards with a conservative short profit target of 3%+ however there is no bottom.
Using an Inverse Leveraged ETF to short the S&P 500 Index. On TSX listed as HSD Horizons S&P 500 Betapro Bear Plus 2X Leveraged Short ETF Entry for long @ $9.12 with stop loss of $9.06 and take profit target above $9.50
This is getting unsustainable, I don't see it going anywhere but down over the next 3 months. Could this be the bagholder's last ride after the end of QE? Just when they thought that the end of QE isn't going to affect stocks at all, it'll hit them even harder by surprise. I'm adding more short position here as we move on...
EURAUD currently @1.4417 - not doing much yet. Currently inside a big wedge in the 240 min chart and waiting for direction out of it. But if you look at the EURAUD 60-min chart, we are inside an ascending wedge with a potential 30-35 pips once we break out of it and continuation to the top 1.4460-80 levels. Both potential trades would be as follow: LONG ENTRY...
AUDNZD currently @1.0789 giving us a head & shoulder pattern right at the top of our Channel for a potential square up of the move from last week. Let's wait to see if they will violate the H&S by going higher, If not take the short below the neckline @1.0770 - or even before the break at the current level of 1.0790 ENTRY: SHORT @1.0770 STOP 1.0800 TARGET...
Three Tentative Up Trendlines. 1st Support on the most accelerated Tentative Up Trendline.