UK100 is Bearish - We look to Sell at 5860
▪️ Overnight price action has drifted lower and remains pressured by the medium term bearish bias.
▪️ Levels close to the 61.8% pullback level of 6000 found sellers.
▪️ Broken out of the channel formation to the downside.
▪️ We look for a re-test of the upward trending resistance.
▪️ Further downside is expected...
Equity markets preparing for the next wave of selling.
There are a few signs that equity markets could be on the verge of a fresh move to the downside. Here are a few charts to explain.
1. Equity/Bond Ratio
The ratio between equities bonds has rallied into a significant resistance zone and is showing signs of rolling over, this suggests the bullish momentum...
Sell Wetherspoon’s (JDW)
J D Wetherspoon plc owns and operates pubs throughout the United Kingdom and Ireland. The Company aims to provide customers with food and drinks. The Company operates a trading estate of approximately 879 pubs.
Market Cap: £1.08Billion
Wetherspoons bounced impressively from the lows but now appears to be running out of steam. The...
UK100 is Bearish - We look to Sell at 5867
▪️ Broken out of the channel formation to the downside.
▪️ We have a 38.2% Fibonacci pullback level of 5872 from 6209 to 5664.
▪️ Negative overnight flows lead to an expectation of a weaker open this morning.
▪️ Further downside is expected although we prefer to set shorts at our bespoke resistance levels at 5867,...
Short sellers squeezed out?
Head and shoulders top forming?
I personally like speculating on what I think could be a right shoulder in a head and shoulders top pattern. Especially when the (potential) right shoulder squeezes into a 78.6% Fibonacci retracement level.
Selling FTSE between 5860-5877 if I can. Stops above the highs.
The measured move target is at 5110.
Sell Melrose (MRO)
Melrose Industries PLC is a United Kingdom-based company that is focused on acquiring manufacturing businesses. The Company’s segments include Aerospace, a multi-technology supplier of air frame and engine structures, including aerostructures, engine systems and special technologies; Automotive, which comprises Driveline, All Wheel Drive and...
Sell CRH (CRH)
CRH PLC operates a building materials business. The Company operates building materials business in North America and heavy side materials business in Europe. It operates through six segments: Europe Heavyside, Europe Lightside, Europe Distribution, Americas Materials, Americas Products and Asia. Its products are used in construction projects...
Sell Standard Life Aberdeen (SLA)
Standard Life Aberdeen plc is a United Kingdom-based global investment company. The Company's operating segments include Asset management and platforms, and Insurance associates and joint ventures. The asset management and platforms segment primarily relates to its asset management and platform businesses.
Market Cap: ...
Sell Rentokil (RTO)
Rentokil Initial plc is a commercial pest control company. The Company is engaged in the provision of route-based services, which protect people and enhance lives. The Company's segments include Europe, UK & Rest of World, Asia, North America, Pacific, and Central and regional. The Company's business categories include Pest Control, Hygiene,...
Sell Compass Group (CPG)
Compass Group PLC provides food and support services. The Company's segments include North America, Europe, Rest of World and Central activities. The Europe segment includes Turkey and Russia. The Rest of World segment includes Japan. The Company delivers services in sectors, including business and industry; healthcare and seniors;...
Sell Land Securities (LAND)
I have stayed out of stocks for a few weeks, but now I am ready to start fading this recently rally in anticipation of a fresh wave of selling. Looking at the index charts (will post shortly) there is scope for a bit more upside in the very short term, but it is looking increasing limited.
Land Securities Group PLC is a holding...
Sell BHP Billiton (BHP)
I have stayed out of stocks for a few weeks, but now I am ready to start fading this recently rally in anticipation of a fresh wave of selling. Looking at the index charts (will post shortly) there is scope for a bit more upside in the very short term, but it is looking increasing limited.
BHP Group PLC, formerly BHP Billiton Plc, is a...
Sell Antofagasta (ANTO)
I have stayed out of stocks for a few weeks, but now I am ready to start fading this recently rally in anticipation of a fresh wave of selling. Looking at the index charts (will post shortly) there is scope for a bit more upside in the very short term, but it is looking increasing limited.
I have posted 2 entries on ANTO - Hopefully...
With the events that are currently spurring around the world it poses a great question as to whether a bear market is possible to be sparked in this climate. Only time will tell, but the historical trend line on this chart by itself looks plausible...
50%+ declines have been seen numerous times throughout the past 100 years, and as its been a longer than usual...
Most of you who've been following my market weekly analysis (Also my fav' TF since it ignores all the news in the background) for the past few months know how I like chaotic messy rainbow colored charts ^_^ but also that I been super bearish since top to bottom =D
I love to see many basic but important TA/PA elements on my charts and thus I have to break it into...
In the screencast I show hard evidence from the chart refuting media reports which say that a bull market on Wall Street is back. This evidence is available to everybody.
There has been a bull rebellion over the lat 4 weeks but that doesn't mean that this is a bull market - at all!
If you're a forex trader or stock trader this is important. Why because what...
