SO after a long pause after last short, I am seeing (yet again) wedgie that might end the current long run to the upside. currently short from 21365. See previous charts. I am expecting quite a lot of pullback. From the fundamental side: FED wants to dump its holding onto private investors, fonds ect.(FED buying different assets = up, FED selling different assets=down)
$DJIA $DOWI hits Key fib 200% Extension . Should loiter around this before plunging for whatever reason media comes up with $OEX chart of top 100 already hit same fib level and time symmetry
DJIA as long as under recent highs target is downside towards 200DMA and uptred nsupp line. DJT also moving down towards LT uptrend line. Sell rallies!
Their is a very good sell opportunity in nifty currently, this wave can take nifty all the way down to 7500 in near term. bank nifty will add most pressure, INR will get weaker which will act as a catalyst.
FB broke out of a rising wedge and targeting 110. Cheers!
Risky week ahead. There is considerable resistance from 2080-1950. If Hillary wins, there should be a great buy opportunity in this market the next few days. First up is the 200 SMA just below last Friday's price. Next is two strong fib levels at 2062 and 2042. If 1950 and the long term trend (purple line) breaks next week and closes below on the weekly chart, I...
JPM is struggling to make new highs and has been lower low for a while. Once it breaks the 2009 black trend line it will be a free fall to the green support line from 1990's low. Once that breaches JPM might become a penny stock. Ultimate support MIGHT BE around $1 or $2. Those who missed to short Other so called good bank, still has time left to short JPM by...
BAC is doing ok for now, but if they hit by another Financial crisis, guess what, they will be gone.
SPY TRADING IN RANGE BUT IF BREAK BLACK SUPPORT LINE THEN BEAR MARKET. The RED AND GREEN DOTTED LINES ARE FOR NOW A PROBABLE TRADING CHANNELS. There is a second black line at the top and that is the ultimate resistance line and if breaks then new high possible. But for now we can expect a choppy volatile trade till it break either black lines. good strategy for...
FED/ FOMC Tactical 18hr trading strategy: 1. With active structural shorts from 2180 (previously discussed/ entered) take profits "early" into the intermediate lows at 2100-2120 that we are likely to see into Fed volatility given hawkish surprise which may or MAY not occur. - Taking profit even at higher levels (if the hike surprise pricing is less aggressive...
FED/ FOMC Tactical 18hr trading strategy: 1. With active structural shorts from 2180 (previously discussed/ entered) take profits "early" into the intermediate lows at 2100-2120 that we are likely to see into Fed volatility given hawkish surprise which may or MAY not occur. - Taking profit even at higher levels (if the hike surprise pricing is less aggressive...
The Dow reached as low as 17905 earlier in the day, but has since recovered somewhat to 18150. Technically: The Dow is due for a large correction to the downside. There is strong divergence on the monthly chart towards 18500. The target would be the missed monthly pivot at 16300. Fundamentally: US stocks are due for a correction to the downside, because the...
SPX downside to 2000 Option Volume: 1. Total CBOE -0.79% Equity option volume broke Brexit highs and 1YR +2StanDevs at 36 to trade at 38 (and 70% higher on the day) indicating we are entering an aggressive sell-off period (holders of underlying have scrambled to hedge their exposure in a fashion more aggressive than brexit! - which is particularly saying...
SPX downside to 2000 Option Volume: 1. Total CBOE Equity option volume broke Brexit highs and 1YR +2StanDevs at 36 to trade at 38 indicating we are entering an aggressive sell-off period (holders of underlying have scrambled to hedge their exposure in a fashion more aggressive than brexit! - which is particularly saying something given that we saw SPX trade...