Break would 0pen 10800 target. Wait
Trade Overview Profit Target = 50% fib retrace (around $142) Exit signal = Close trade if price closes above $155 Rationale: - VMW in triangle consolidation pattern (possible continuation pattern) - Price resistance at $155 (hence using a close above this point as the exit signal) - Failure to breakout of 1 ATR channel - Moving averages clearly indicating a...
From 10-8-2019 CNBC Article The father of the yield curve indicator says now is the time to prepare for a recession. The yield for the 3-month Treasury has been above the 10-year since May, a condition known as an inverted yield curve that has predicted the past seven recessions. “This is the time where you need to reflect upon your strategy." “It’s way...
Now October is on us and with SPX still at a lofty level near 3000, we could be in for some under performance in a month that is notorious for market selling. I am not surprised if SPX drops to 2840 from here
We have what appears to be a reversal pattern here with the Russell 2000. You can call it a head and shoulders although not textbook. Again it shows a shift in trend from higher lows to now lower highs. The neckline has been broken, and I am using the 1575.80 area as my lower high swing. Lot of debate on what leads, the mid caps or large caps. In my experience,...
Short SPX500 @ 3,017; TP @ 2,896, SL your choice
Since August 2019, the S&P 500 has entered into a "Channel" formation between 2823-2946, with trading being quite choppy ever since. Despite the market's volatility throughout August, it appears that the S&P 500 is making strides in trying to exit this "Channel" pattern to the upside. Two indicators to support the S&P500's move higher is: 1) The S&P 500's rising...
Long SPX 500 @ 2,877; TP @ 3,000, SL your choice
Long Hong Kong 50 @ 26,070; TP @ 29,000; SL your choice
Long SPX 500 @ 2,950; TP @ 3,010, SL your choice
Short SPX500 @ 3,000; TP @ 2,880, SL your choice
Weekly MACD and STO RSI are showing negative divergences as we see SPX making new highs. so don't chase tops here. instead look for pullbacks into 2964 (previous high) now turned support for eventual target of 3108
Bullish
Long SPX500 @ 2,800; TP @ 2,900, SL your choice
Target 34700 for this break.
Sasol once again reaching long term support at 35400 levels and holding. This could be an opportunity if support continues to hold to keep for the longer term. Top of the consolidation range is 48900. If Sasol breaks bottom support, stick to a stop loss.
Recent price action continues to push the index lower. It has nearly completed the head and shoulders pattern. For this pattern to be active, there needs to be follow through on the break of the pattern neckline. I would start getting excited if price can hold below 2786. The head and shoulders pattern comes at a critical point in the structure since price...
Long SPX500 @ 2,828; TP @ 2,950, SL your choice