The S&P 500 (SPX) has been printing lower highs and is losing momentum, a potential drop is developing.
On the chart above I've marked the different support levels as well as the different potential scenarios.
We believe the SPX will move lower based on chart signals and past history.
Feel free to leave a question and share your thoughts.
Dollar index keeps falling.
Selling pressure is accumulating and for the last two weeks, we haven't seen any pullback.
The market is coming closer and closer to a support line of a major rising channel .
I think that bears will keep pushing the market to 96.5 level and only from the identified zone we will see a...
This is my update for DXY.
Dollar index has recently broken below the support line of a rising wedge.
It is a very strong signal which determines a bearish sentiment.
We can expect a rally to 97.5 level and my midterm projection is bearish.
I was asked to share my thoughts on nat .gas :)
on a daily the market has reached a key level of support:
conjunction of horizontal support with a falling trendline of a broken channel and rsi divergence.
I think that buyers will push the market to higher levels.
Key levels of resistance are:
after a very strong selloff SPY has retraced and currently, the market is approaching a key level of resistance on daily.
On 1H chart the market is consolidating and coiling within a narrow trading range.
If bears break below the range, for us it will be a perfect signal of a bearish continuation and...
dollar index has finally reached a resistance line of a rising channel on daily.
there is a high chance to see a strong bearish wave but
for confirmation, we are waiting for a bearish violation of a rising wedge pattern
within the channel.
Target level will be based on horizontal structure and support of the channel -...
Looking at the weekly chart for DAX index, it is looking really bearish at the moment and could be heading to 9903. The index can temporarily rally to 12233 where much bears are waiting to send it downward again. This time around, there will be no escape route until it kisses between 10282 and 10685. Bulls at this zone likely to make the index rally short term...
Aiming for a slow move to the downside with US Dollar Index showing positive moves to the upside and the British Pound Index Turning bearish on the Open.
There are economic factors that may accelerate the moves.
Hello my dear readers, here we would like to take a look at two different scenarios FTSE 100 Index Chart (UKX).
Let's start with the bearish scenario because this is the one that is in play right now... Feel free to hit like to show your support.
Looking at the chart above, we can notice a huge descending channel (bold brown dashed line) and we have two rising...
The American dollar is the overall winner this 2018, despite being battered in these last days of the year. The DXY recovered from a yearly low of 88.25 achieved early February to a 17-month high of 97.71 in December, now battling in the mid 96s. Much of dollar strength came from the US Federal Reserve and its tightening policy, two steps ahead of any other...
We are writing a quick update on the S&P 500 Index (SPX) by popular request...
The signals coming from this chart are all bearish, there isn't one single bullish signal, so the SPX can fall more and more and even temporary bounces are looking scarce.
There should be some support around the 2700 - 2740 range, but if this level breaks you can expect to move...