The SPY broke a serious trendline and we are seeing some very good reasons to be short term bearish. Failed at Big resistance 213.34 Trend line break Support at the 201.99 level Plenty of turmoil in other markets Let's see how these markets react to a small correction amid chaos in China and uncertainty in Greece.
With interest Rate News buzzing it is time we assess what the markets are going to be doing in this post market update. With June in the rear view mirror and interest rates untouched, it appears we have some time for a little bit of a rally as depicted in the chart above. The Gartley pattern above suggests a move to the 1.618 extension of that BC leg as always....
With all the talk about the euro losing value, And all the evidence about the Yen Gaining value, i thought it was about time i made some money off of it. The problem i was having was where to enter, until now :) So i have identified a completed wave series on the 60 min chart which suggest the market is to reverse and head down , just as the news suggested. I...
The Spanish IBEX 35 index tested the 10,660 handle twice this week, once on Tuesday and again on Thursday. The double bottom on the monthly Tenkan can be interpreted as being bullish and makes me think that the market has completed its corrective phase initiated back in April. If European equities markets start rallying into the end of the month, the third quarter...
If price breaches 127.20 (Red Horizontal line) then price may continue to 124.00.
A 5 wave formation has finished, I suspect an ABC pull back to somewhere around the 38.2% fib retracement. Risking only .67 on the trade, with a 2.84 target or 14.01%.
If price break that corrective estructure, price should fall to the up trend line. I think price in matter of fact, it will break that up trend line and continue falling. but we have to wait. lets short first to the up trend line and then we will see.
Price currently hovering around key level 17.30. Waiting for PA confirmation to set up a short position down to targets as follows: 13.80 then down to 9.00. However, if price does break above 17.30 and the upper bound of the channel then our upside targets would be as follow: 21.30. However, primarily i believe price would decrease as the earnings are also...
Have a Bullish Pin par on the weekly time frame. As you could see the 200EMA is acting as support and the RSI above average. If 59.60 our first upside target would be 61.55 then 63.50. If price however breaks below 58.30 then we would be looking to go short 55.70.
For the short term we are bullish. First target being 23.20. If this key level is broken then the next upside target would be 23.50. However, our primary target is on the short side of price level 22.00 then 21.50. We have a bearish formation on the weekly time frame.
Believe price would reach 98.30 then 101.30 on release of the earnings. However, if price breaks support at 95.30 and the trend line; price would reach 92.00.
Pin bar on 4 hour time frame with RSI oversold. First Target at 2098.0 if price breaks through senkou Span A then price would reach 2122.0.
Price currently at key level in the market. If price breaks above 15.95 then it can reach 16.50, 17.35 then eventually 18.00. However, with the earnings decreasing by 0.02% could push price further down. If the trend line is breached then our first target would be 15.35 then lower to levels of 14.00. When each target is met we would look for further PA confirmation.
US stock markets have proved their resilience over the years as they have climbed a "wall of worry" and my my my, it has been some wall they have been scaling. It would be foolish to call the top in any market that has displayed such steepness in its ascend but it is evident from the chart that we have hit some long term resistance levels. - Triple Bottom...
Once SPX clears 2120 level, we should expect a bullish break out rally, Fibonnacci extension show first target for profit taking
The Dax steep incline is looking to be losing some steam and the Elliott Wave structure suggests that we may have a pullback consolidation before printing a new high. ECB press conference today could trigger some profit taking in Germany's premier Index. A new whipsaw high may be probable as well, but likely to be sold into. Favoring the pullback short term.
I've been bullish on European equities since the start of the year (my French readers on DailyFX.fr know this), but I'm starting to think that these markets might start to consolidate. I'm not sure if the timing is right (I'd prefer around the end of the month with the FOMC meeting on the 29th), but I've just noticed a potential negative divergence on the daily...
The Equity rally in the US is looking tired and needs some accelerate. The Banking Index can provide this, if it can manage to breakout of its 1+ Yr range. Closely watching this one.