TESLA - will the price action Salas or fail? Will it need serious recharge that could take a long time for its supporters. There are so many fundamental metrics, that could be unique for TESLA or may be not. However, price action if like all others. It has so far WOW the investors and admirers since it's IPO and more specifically since August 2012. Considering...
Originally prepared on 21st October 2014: German DAX - 2 Weekly The German DAX chart below is 2 weekly. This is to show bigger picture but not miss the finer details that happens with Monthly. We do not have price data on the chart prior to 1991. However, it is fair to conclude that the major bullish cycle that commenced in 1982 on other major world indices...
Merck & Co has been in Bearish Cycle since the major top in 2000. Since when it appear to have completed (a) and (b) of the abc zigzag. Coincidently also we have potential double top in the making. If correct then future for the investors in Merck & Co will get even more murkier and painful as potentially we could have impulsive leg c of the abc unfolding. Not...
With the earnings announcement due tomorrow, no doubt many hopefuls will be expecting further price appreciation for Twitter. However, the price action in the chart is appearing to be wittering loud and clear that any upside is likely to be very limited as it could have already entered in the new bearish cycle with intermediate target being the last low in May...
Not much to say about this as the chart speaks for it self. Massive diamond breakout. Could retest 30 price zone or lower in due course. More worrying though is this stock and other like it are early warning for wider market? I will let you come to your own conclusion on that. Check some of my other charts.
In a Potential Shorting Zone: There are couple of variation of counts and I am posting the one with which I am more confident. I can understand that this chart like many of my other charts will raise eye brows and Apple Inc is very popular with many investors who have done really well over many years will likely find my chart unacceptable. However, as you can...
FTSE Resistance The FTSE is currently in a very strong resistance zone. It has touched this level 2 other times this year, we have seen several retracements on the FTSE this year and this seems to be where it stops the downward pressure with resistance. I have already enterered into the trade and have set a fair tight stop loss about 70 points away to ensure...
DAX Resistance The DAX is currently in a very strong resistance zone. In fact many of the largest stock indices are also in the same position please also see my trade on the FTSE (Global Equities Turn-Around) It has touched this level 2 other times this year, we have seen several retracements on the dax this year and this seems to be where it stops the...
S&P Futures are seeing a large sell-off, after putting in a double-top through a longer-term wedge pattern. Current price action has broke the large, ascending trend line first created in in 2012; subsequently, that was the last year the S&P saw a 10+% correction. Reality sucks when key data points deteriorate. Housing data is continuing its downward path, while...
For those familiar with Elliott Wave analysis, a 5-3 wave sequence indicates the direction of the immediate trend. Its a little premature at the moment to identify a clear 5 down/3 up wave sequence, but as traders we do need to bring a little anticipation because by the time we know for sure what the waves are doing, the move is over. Using fibonacci...
Like most of the major equities Indices are in very bullish mode since 2009 low and it seems nothing could go wrong. All the "Fundamentals" point to many profitable years ahead. In fact I have hear a presentation from notable commentator suggesting 2009 will is a generational low ie will not be revisited ever in his life time. I think he is in his fifties. He...
Could Facebook stock drop to $50??? It might be too early to tell, but if price action doesn't make a new swing high above C leg, then this pattern may have high probably of completing. Bearish divergence on the RSI extending from July 13'. A GrandSuper Cycle wave 3 confirming the down trend which peaked at price $72.73. $FB is now showing signs of a bullish...
Intel is meeting all of the requirements of a Bearish Crab pattern . The prediction of the D leg slams right into previous structure of monthly resistance of the wave II cycle at $34.34. Would make for a perfect PRZ. Also, If we could get some divergence on the RSI, that would make for a better confirmation . Let's see where price action takes...
The bulls have been man-handling Nasdaq for awhile, A bearish butterfly is starting to form, The RSI is already over bought. If sellers can take the nasdaq down for a quick breath, we may see a reversal in price.
Target 1- at $6740 38% fib level Target 2- at $6645 61.8% fib level Trade at your own risk
US30 longterm outlook on the weekly chart. Bearish butterfly. Strong support around 14023 on the X leg. Target 1 will be at 14436 at the 23% fib level. if the bears can break structure on X, then roll stops and look forward to target 2 at 12841 on the 38% fib level. Trade at your own risk.
Bearish Crab (Purple) and a Bearish Buttlerfly (Aqua) has formed on SPX 500 CFD. For conservative traders, taking the butterfly pattern for 2 targets at the 38% and 68% level and no further than $1885..Strong support on the daily at X I will be taking the Crab pattern. The crab pattern is not only visible on the 4hr chart but on the daily as well. Trade at your...