I now have confirmation for the breakout for the dow and would expect a major rally to the up side
Price has found support on previous resistance level as expected. This is also the 38.2% Retracement level from the low of Oct 15th and the high of Dec 5th. I am expecting price to enter the DAILY demand zone and 50% Fib level and rally up to top of trend line to test its strength. Oil seems to be dragging indices down and my expectation is that the Black Gold...
I am watching the MACD to cross positive and to enter as close to a Support area as possible.
Climactic widening of MACD spread and steepening of angle up/down can signal significant reversal is near: When blue line turns, look for a trade !!
RSI is above 70 (because this is a heavy index RSI usually stay in between 30 -70)+Kangaroo tail w/big wick after 10.5% advance+MACD near crossover. This price action tells me we might see some sort of correction to 17.340 level. This is by no means a "SHORT INDEXES" trade. Just a minor throwback before Dow Jones continues to climb higher
Good risk reward opportunity to short once daily closes red today. As an additional confirmation, we have a big megaphone here.
Gold has been performing poorly versus stocks in last years. Recent weeks was like a phase of capitulation. Here's another chart showing the possible bottom of this trend. I don't believe in a breakdown of gold farther down as this chart may suggest. Stocks are quite overpriced, therefore investors sentiment will shift into gold & silver from this point.
Elliott Wave: Despite the rally, we are in corrective mode since 2000. A similar Correction took place in 1965/1982. 17 years. Here it could take 19y in total. The sequence 1995/2000 was a speed excess over the 100Y channel. We are now exactly on this speed line. A natural correction of 4 years could ensue. This correction could be longer than 2000 and 2007...
BUY SPY 197 STOP 196 TARGET 200 I have always seen neckline do magic. One can buy at 197 while placing stops below 196. Small stops and good gain trade. SP CapitalTA
BUY Bitcoin / Dollar 344.40 Stop 334.45 Target 352/357 Regards, SP CapitalTA
Looking bitcoin price/dollar, the second trend is ‘downtrend’ can be only a secondary movements(reaction) as explained www.bitcoinprice.mobi and the trend change only when the value of high 3 $1200 will be exceeded (last important high). There is much …. The primary trend is bullish.
Buy AEO 12.92 Stop 12.50 Target 13.50/13.95 Near Term Regards, SP CapitalTA
This week, the bulls and bears are going to fight for control of the direction of the market. Bulls will be wanting to take the YM higher in hopes of reaching 17k. Durable goods, FOMC, GDP and Jobless claims all this week will give both bulls and bears a lot to digest. I am neutral... AKA, prepared to go either way.
Trading near the channel and the neckline resistance, Short term trend is down and any recovery may face sell offs again. Yes there is short covering or fresh buying seen from lower levels but I feel with smaller stops this trade is worth taking a chance. Regards, SP CapitalTA
What do you guys think about this trend channel? Is the history repeating itself again?