A series of lower lows in a 'sawtooth' pattern are all testing the level around 1.4008. Note there is a comparative vacuum area from below which means this breakout has a lot of room to move. There is a rather strong Ichimoku cloud of resistance from above, and it is apparent that there is simply not enough momentum to punch through it. Further, the MACD and...
The bullish run for the markets appears to be slowing especially as the impending interest rate hike gets becomes more of a reality. Some bearish signs are especially prevalent for QQQ, as we see a relative vacuum area from below and lots of room before we hit any resistance from the Ichimoku cloud. Moreover, the RSI, MACD and OBV all indicate an unfortunate...
As crude slides due to production news, it stands to reason that oil and energy companies will fall with it. BP is no exception. Although the Ichimoku cloud indicates some resistance from below, it appears as if this asset has enough momentum to break through. Note the downturn in MACD/RSI and OBV. There is also a relative vacuum area from below, aside for a...
The attached article cites bullish fundamentals due to overseas investments on the part of NFLX and that they really have no other good competitors at this point. On the technical side, we see that its really trying to break that level or resistance at 114.16 or so. Once it does that, its a relative vacuum area above so it should be smooth sailing at least until...
With the strength of the dollar seemingly unstoppable (at least until December interest rate news comes out), USD seems like a good bet in general. In particular NZDUSD made the Morgan Stanley chart of the week (see link), in terms of bearishness. Also, New Zealand PMI just came out a bit lower than previous which supports this assertion. On the technical side,...
BTCUSD looks like it might rally here shortly. We see some strong resistance from below via the Ichimoku cloud. The OBV indicates strong buying pressure still. The MACD and RSI are right in the 'sweet spot'. Moreover, we have somewhat higher lows and a double bottom formation. The Fibonacci retracement indicates some nice profit targets, otherwise we can use...
Twitter has underperformed for quite some time, but this really came to a head on 10/21 with the Morgan Stanley downgrade. Next, we see more bad news for them, with the CEO coming under fire for reducing staff. The technicals show significantly reduced buying pressure via the OBV indicator as well as some resistance from above by the Ichimoku cloud. The price...
Various factors from fundamentals to technicals indicate that wheat might be a good candidate for a long position. First, the latter part of October had enough momentum to punch through the resistance indicated by the Ichimoku cloud. Next, we see consecutively higher lows indicated by the trend lines. Finally, we note that there is a relative vacuum area from...
Its hard to believe that BTCUSD may still have some in the tank for yet another rally, but there is a great deal of consolidation around the level formed from the heads and tails of the candles around 465. The RSI and MACD indicators both suggest that this asset is way overbought, but at the same time, the OBV indicates there is still buying pressure. Further,...
Lower highs on the day chart note that the GBP is struggling to maintain footing. Further, the strong resistance from above by the Ichimoku cloud casts doubt on any bullish rallies. The RSI and MACD indicators suggest that this is an optimal time to enter a position. The Fibonacci retracement gives us some profit targets and stop losses, as well as a level at...
In recent news, we have a relative weakening of the dollar. Couple that with the apparent 'cup and handle' patterns, and we may consider a long position on BTCUSD. Beware that although the OBV shows tremendous buying pressure, the RSI indicates that we are way overbought, so an optimal time to enter may be on a bit more of a retrace (the handle of the cup). For...
As we can see from the chart, there's been quite a bit of consolidation over the past few days, in the short term, and since mid September in general. The big rally at the end of August constitutes the poll of a (rough) flag pattern. Note further the slightly higher lows, also indicative of an impending breakout. Next, we see that the Ichimoku cloud illustrates...
We saw a nice rally beginning on 9/30, but recently the price has failed to establish new highs. Further, we are seeing decreasing slopes on the lines connecting the highs which is usually an indication of a bearish turn around. The Ichimoku cloud indicates some support around $82.71, which coincides nicely with the level of support from the low of 8/06. A...
There are a variety of reason why this trade looks fungible. With the holidays right around the corner, and a 'hold' rating recently reinstated by Sterne Agee CRT (see link), the fundamentals appear to be in its favor. Notice further how the bullish trend that began earlier in October keeps establishing new (relative) highs. The slopes of the line segments...
This asset has been on a solid decline since the end of 2013, and there really isn't much to indicate a turnaround. Note the small wedge pattern forming. MT is desparetely trying to find footing, but there is a strong downtrend, and it keeps establishing new lows. The MACD crossover indicates that small attempt at a rally starting on 10/02 has taken a turn for...
First note the consolidation of volatility after the small rally earlier in October. The indicators suggest that that bullish run has exhausted and a retracement can be expected. Note the lack of buying pressure by the OBV. To set profit targets, we can look at the Fibonacci retracement from the most recent high back on 10/23. These also coincide nicely with...
GPS is another stock on the downgrade list. Further indicators of weakness include the fact that it failed to break the high from 10/22 or 10/28 most recently. Furthermore, the negative slope across highs is getting steeper and steeper. The big rally on 10/28 was met with a meager follow up indicating this asset is exhausted and is likely to retrace. For...
We may want to consider a short on GPRO after the Piper Jaffray downgrade. Note the consolidation after a rather long downtrend. Also note the selling pressure toward yesterday's close, and the rejection of the high from 10/20.