Symmetrical triangles more times than not break out to continue a previous trend, in this case bullish. Thoughts on how it might look in the days, weeks ahead.
Other than the messiness of 2015 and 2016 the 50 EMA on the weekly has been a clear indicator of market support. While people will say that we've been in a bull market for 8-9 years they often forget that protracted sideways move with significant breaches of the weekly MAs. Well we're bouncing off the 50 again or at least it seems but will it hold. I think its...
This ramp today is notable, but no different to the one after Brexit
Everybody expects a correction. Sentiment isn't top-like in my view. Today's little selloff immediately triggered buying and yielded a bullish hammer candle off current range lows. The bullish hammer is further accompanied by bottoming slow stochastics, to me a signal of a fresh bull leg higher. Again, with everyone bearish out there, the risk is to the upside....