AMD right now is creating a rising wedge. This should break to the downside, however the ichimoku is currently very bullish. I predict that AMD goes to $32 ish, and has a dump, possibly all the way down to $12-$13, or even $6.
Bullish Signals:
Price moves above cloud (trend)
Cloud turns from red to green
Price Moves above the Base Line (momentum)
Conversion...
IWM has punched through its cloud and is forming a nice bearish flag pattern on the daily.
On its hourly it is showing a shooting star near its hourly cloud, and7-period RSI has re-entered neutral territory.
Furthermore, April 17th $133 PUT options currently have a MASSIVE amount of open interest, almost 80,000. This shows that institutional investors are...
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- Market Internals today 07/18 are calling for a continuation of bullish action tomorrow morning.
- That being said, market internals can quickly change, i.e. the S&P 500 starts to trade below its 100 SMA and the Breadth Ratio reverses...
After a long push down, this pair seems to have formed some support and may have bottomed. We will look to enter on and break and retest of the kumo cloud. **BE CAREFUL WITH THE EU REFERENDUM THIS WEEK**
