CIX is always a nice counter mesure tool to confirm the direction of the indexes.
The market was too overconfident and VIX was at its lowest level.
But there are initial signs on a technical level that show clearly the reversal trend i.e VIX may move up, and indexes may move down.
STOCH and MACD give the hint.
We need to see a confirmation if it is just a...
Bearish deep crab. Target 1 at 14244.45 23% fib level.
There is also strong support around X highlighted in red. If sellers can push through, I'll be looking for 12744.77 as my target 2 at the 38% fib level
The two accelerated Tentative Up Trendlines pushed the price Up and the Ascending Triangle did break and make new high.
Are the FTSE 100 Index and DAX 30 Index following ?
See the links below.
Singapore has finished its wave IV of Grand Super Cycle and is on its way up for wave V. The first wave 1 is almost finished and the second wave 2 will be brief and a fast upmove for a multi-year period of time.
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US Dollar Index found Support on the 38.2% Fibonacci Level and the Tentative Up Trendline.
US Dollar Index price in between, Up Trend Line and Down Trend Line,.
Is the US Dollar Index going Up or Down?
Time will tell, this situation must be resolved.
See Link - Related Ideas below. EUR / USD correlation, rejected by Resistance Line.
Euro Index looks bullish.
One Tentative Up Trendline, one Valid Up Trendline and two more accelerated Tentative Up Trendlines.
If Euro Index will close the week above Resistance Line, more upwards movement could be expected.
US Dollar Index looks bearish.
If US Dollar Index will close the week under the support lines, 38.2% Fibonacci Retracement and Tentative Up Trendline, more downwards movement could be expected.
Anticipating gold to bounce off trend (yellow area) and move back up into the $135 range.
We appear to be pinching and I expect we will continue to pinch for at least another year-year and a half.
I'll remain bullish, set my stops and buy the bounce for a few months of hopeful gains.
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All opinions expressed by Emuffn3 on this website are solely...
1st Resistance on the upper level of the ascending triangle
and the Resistance Line from week 9 Jul 2007 and 15 Aug 2007.
1st Support on the lower Line of the ascending triangle.
2nd Support on the Tentative Up Trendline.
If price close above 6,860 , the next and the last Resistance Level is 6,950 from week 27 Dec 1999.
