Hi, traders! Swiss Market Index* INDEX:SSMI formed the bullish wave and appears to be ready for take off to point 6. This potential move is being supported by RSI divergence as well as significant volume at point 5 (unfortunately not available here, but I can see it in my terminal). It is also worth noting that internal structure of the wave is being enhanced...
Looking for this to drop 200 points over the next week or so. Have bearish price action over daily and weekly time frames as well as a break on the trend line.
A very tough call here. We think longer term Bullish, but we may get a shakeout before that.
8726 level support has a bullish candle confirming my bullish bias, the perfect buy would of been at the 856 level. That bearish engulfing void candle at 12pm was just there to take out stops, the 4 hour block has been violated so this shows uncertainty because price has dropped on 8830 level and has also shown bullish action before. 1 hour time frame confirms my...
CONSOLIDATING AFTER THE RIDE - After multiple upside breakouts in the past 6 months, including breaking a previous historical high, the S&P500 currently seems to be in "waiting" mode but with a long bias, trading between its 50MA and 100MA ranges. FUNDAMENTALS ON HOLD - Last week was mostly about waiting for the Fed to speak (bear flag), until a rather dovish...
Morning traders, interesting down move by the USD as it has pushed below recent lows and is headed for the most recent lower high. A close below that would confirm further downside to the high low at 11840 Stops at the last high 11990. Of course a failure to close below the last higher low does open a buying opportunity as we see the RSI headed for oversold...
Please see annotated chart for details.
Please see annotated chart for details.
Please see annotated chart for details.
Please see annotated chart.