Looks like what I was expecting is coming true ....
This rally is overextended in my opinion. Again RSI is oversold, Pivot R3 broken substantially and SPX is meeting substantial resistance. Volume on FXCM and OANDA has been pretty low, and we already up 7.5% since the pre-election highs.
In SPX chart there is a resistance on C point 1.13 Fibo. it can lead index to go down to one of the two D points.
at these stage spx is on a no go zone , on up side price action is sitting on big resistance around 2095 and a fib level a couple point above that and below it face as support and it quit a BIG one that have been defended for quit some time now but it will be very interesseting to see wich side it's going to actually go , on either side they are big target long...
SPX500 mid to longterm SHORT bearish Cypher, longterm resistance In my scenario the SP500 and markets im general might shoot their last fireworks to have a final champagne party on Mario Draghi and the ECB 0% interest rate medication. However the longterm resistance line from May 2015 high is coming southwards, looking to meet our curve around 2080 levels...
S&P still showing signs of bearish pressure. We've blasted through the 50/60 ema and are flirting with the 1920 which has been holding since mid 2014. Seeing a nice curve top which could indicate a downward move that may brake this line. Also showing MACD divergence. If this heads down to the 200/250 ema we may be in a full pull-back. Looking at the monthly and...
S&P 500 - It's Tea Time - Cup and Handle Formation in Afterhours Shallow cup and handle formed after the close. Entered long at 2049 stop 2030 take profit targets above 2096
TSX HSU S&P500 2X BULL ETF Closed my long position from 8 days ago with 3.88% gain I'm not holding out hope that we will retest the May 21st high anytime soon. I see more ranging ahead or even the long anticipated 20% correction before end of summer. I'm now on the lookout for a short entry point using HSD.TO 2X Bear ETF.