The strong close last week indicates a shift in control to the buyers. They managed to close above the previous week’s high, establishing a weekly higher low and confirming the daily uptrend. Currently, the bulls have control across all key timeframes: the price is trending upward on the hourly, daily, weekly, and monthly charts. The only challenge they face is on...
Last week, using oversold bounce, buyers attempted to regain control over the price. Their effort was somewhat successful, as they managed to establish both a higher low and a higher high on the daily chart. However, they failed to set a weekly low, which was a challenging task given the magnitude of the previous week's range. This indicates that bears still...
Last week, sellers firmly controlled the market. Buyers attempted to defend March's low, but the bears left them no chance. Prices consistently declined for six consecutive days, with the futures chart ( CME_MINI:ES1! ) appearing even more bearish. We are now approaching a critical juncture, which presents a significant opportunity for buyers to take a stand....
At the end of last week, sellers confirmed weekly consolidation by closing below the previous week's low. From now on, bears have control over the price on the weekly timeframe. We should monitor the progression of weekly lows and highs to see when things start to shift, but until then, we should trust the sellers. It is also notable that if we look at the futures...
Bulls defended the weekly low and made a convincing breakout yesterday. This is a powerful statement, although buyers have not yet proven their control. To do that, they must first establish a weekly higher low, which is likely to happen next week (of course, we need to monitor how things develop). This presents a great opportunity for a long play, but buyers...
Last week was marked by the aggressiveness of sellers and the resilience of buyers. On Monday Buyers were ideally positioned for another break out but they didn’t have enough steam to accomplish it. Sellers, long awaiting their opportunity, pushed the price down, breaking the weekly support. However, they couldn’t develop this into something more significant, as...
Last week began with bearish consolidation, which was short-lived. The bulls quickly regained control, established a daily higher low, and broke through the previous week's resistance at 524.1 . Although the breakout was not very strong, it was still meaningful. The March close was very strong, posting a +3% gain, and both weekly and daily charts are indicating...
All major sectors are strong, confirming SPX strength. There are minor signs of weakness on some charts but nothing serious yet.
At the start of last week, things didn’t look great for the bulls. There were several signs of weakness that could have easily led to a daily trend reversal. However, that didn’t materialize. Firstly, on Monday, buyers were able to set a daily higher low. Then, on Wednesday, they positioned the price very close to the previous two weeks' high. Finally, with the...
Last week began with a display of strong conviction from buyers, propelling price upwards towards the previous high (516.5). They managed to surpass it by a small margin, establishing a new historical high at 517.1. Unfortunately, bulls were unable to sustain momentum and build a new value zone, allowing bears to regain control and push price back towards the...
The last week kicked off with bears challenging the previous week's low (505), coming close to success. Bulls stepped in, mounting a strong defense and steering prices back to a historical high. It might have been a convincing victory if only they could have sustained it until Friday's closure, but that didn't materialize. Friday concluded on a bearish note,...
Put together information on what is happening in major S&P sectors Majority of sectors are strong on the daily chart. There are some short-term problems on lower timeframe but they can be overcome. This is good for buyers as it shows that money is not leaving the market but moving from one sector to another. A lot will depend on tech bulls. XLK must clear 212...
Bulls have finished last week with a spectacular rally. It was quite clear that they were taking some rest before a run but even I was surprised by their Friday achievements (see ) The outlook for this week is easily defined: BULLS, BULLS, BULLS. The daily chart looks great (daily uptrend, new high), there is absolutely no warning signals on lower timeframe (last...
After a spectacular rally last week market bulls are taking a pause. Last two days look quite bearish on the daily chart but if we look at lower timeframes we won't see any signs of strong selling. Price is drifting down very slowly as a result of profit taking and low initiative from buyers. The high level context is still very bullish: we're in an uptrend,...
Yesterday, bulls regained full control over broad market, not just managing to set daily higher low but doing it spectacularly. With no historical resistance above it is impossible to say when this rally will end. Any short trade should be discouraged until there are some clear signs of reversal. Bulls, who missed the move, can look for 15m/1h consolidations for...
The Wilshire 5000 is basically the broad market literally every publicly company in the America and also some foreign corporations are incorporated in this index We are coming to a decision area, not right now. But over the course of the next few months and years. We could see a breakout up and a continuation of the ever uptrend or a breakdown, and change in...
Fill: 0.54 Credit Strikes: 400/395 Max Risk: 500-54 = 446 This was an order that I had been sitting on all day, trying to hold myself back from reducing my target price. Ill be honest, I liked these strikes so I wanted the trade. Reasoning: 1. Large move down today, attacking prior lows - This is jumping the gun a bit as I usually wait for some confirmation of...
Hello everyone. After days of bleeding, finally Chinese stocks started a rally today after being hit by tightened regulation in China. To map out the possible future move, I put Hang Seng index and the big familiar tech names, e.g. Tencent, BABA and Meituan on the same chart. The analysis is carried out on the daily timeframe. Hang Seng Index: Lower low...