With more lockdowns this is our best scenario. ------------------------- Tribute to Tequila: www.youtube.com Good luck!
Death cross negated and re-crossed golden. No new highs, but that may be tested before pullback $TRAN $IYT $AAL $UAL $DAL $LUV $EXPE $FDX $SPY $DIA $DJI $YM_F #Stocks #Transports 🛫
The recoveries in most US and European stock indexes since late-March are corrective. This especially true in S&P futures and in the Down Jones Transportation Average (charts 1 and 2). The chart that stands out is NASDAQ futures, where prices climbed to a new all-time high, creating one of the broadest bearish non-confirmations of all time (chart 3). The ideal...
Transportation to take a possible hit until the first quarter of 2021. Fib cluster located recent resistance met.
These are sort of my levels. Aren't you worried about crude level? I mean... Do you think this will ever recover its shape again? It's just common sense and because this world is moved by money and transportation issues mainly. How do you imagine this future? Thanks again!
Dow Jones Transportation have just finished their wave 5 cycles up. Which means we are in store for a larger correction down. There we are looking at retracements to the 0.382 fib at 7800 or a 0.5 fib retracement at 6700. If transportation were to drop, the SPX and S&P is going to drop too. Transportations has always been a early warning regardless to do that.
In June 2008, #DowJones broke its weekly 200ema and key support (DotCom highs). It then backtested in following months before next major down move. The setup is similar now 🤓
What no one has seen yet... tremendous! It scares me, and you?
200dma broke as has the 2019 uptrend. Huge red flag for markets. May DCB here near 10K
Losing 200dma support would have big implications
Just noticed this today and thought I would share. Something to keep an eye on. Any thoughts? Not to sure what to make of it.
I don't always look at the weekly (I'm generally too impatient), but today... I took some time back testing one of the public libraries favorite strategy. I noticed that we haven't touched the lower band since 2008 then again in 2002. Its pretty obvious why- we've been in a crazy non stop rally since the market crash of 2008, but still. HISTORY REPEATS ITSELF. I...
*Yellow = 200 EMA | Blue = 100 EMA This video goes over the divergence between the DJ:DJI and DJ:DJT . Currently, the DJIA is trending upwards, setting new highs, and lows. However, contrary to this movement, the DJTA is moving downwards heading towards a trendline shown in the video, but could very easily break through that trendline. Why do I care? In...
Welcome to Earnings Season! Google and Amazon report earnings on the 25th after the market. Both will highly influence Friday's trading session. Expected Move for the week is $41.25 +/- which is a 25% increase w/w of the expected move so put on your seatbelt. Netflix missed horribly. Fed cutting interest rates will be negative for the financials XLF. We broke...
Currently we are in a ABCDE formation down. Next target is 141 USD, where it will make a corection up to 151 USD for the (e). In my last post i noted that transportations are also expecting a correction down, which should take IWM with it. Therefore the larger target of IWM is 112 USD. Best case Scenario we are looking at a target of 99 USD.
Think we're going into a melt up. Powell all but confirmed a rate cut. Last week I mentioned watching Bonds closely, and that played out well. I've had a long term target from 2017 coming into play here, we'll see what happens and if technicals remain relevant over longer time frames. Earnings next week can shift the narrative either direction. I think much has...