What's happening now: EURJPY seems to be rejecting a trendline. However, the day is still young and aggressive bullish price action could still show up towards the end of the day. My trade idea: On the other hand, if today's candlestick closes below this trendline, I'll be looking for selling opportunities. Fundamentals and in support of a lower target. Hopes for...
Yesterday the S&P 500 briefly made a bullish trend line cross before pulling back below the trend line. This is what you might call a "bullish rejection," because it actually got across the trend line before pulling back. Often such rejections portend that a bullish move is coming, but won't happen right away. Possibly we will see a dip to a support level before...
The aftermath of the election The presidential election is over, so it is safe to start trading again? First of all, as of writing this, we actually don’t know yet who has won the Presidential Election. As of this morning, Biden leads Trump in the Electoral College 264–214, and we are waiting for an update to see who won Nevada. If Biden wins Nevada, this...
DXY has been forming a symmetrical triangle, hence we might see DXY dropping down to 92.500 level. What are your thoughts on this chart? Please share in comments.
In continuation with the moves lower from yesterday and the past few days, I am looking for continued moves lower. Ultimately, until we get a solidified stimulus package, there is no real reason for the market to be up this high. Given that, most likely we are not going to know what a stimulus package is going to look like until we know what the makeup of...
The US is in a crossroad. The FED has repeatedly insisted that fiscal stimulus is necessary for recovery but politics has taken center-stage. The Fed's balance sheet is now at a record high but investors aren't buying yet. Pelosi and Kudlow are still moving slowly to agreeing on a deal and that is having a negative effect of the equity markets. The US election is...
Description: An analysis for the week ahead. Points of Interest: $3,406.75 Excess Low; $3,470 Balance-Area High. Technical: Broad-market equity indices ended the week lower with S&P 500 retracing nearly 40% of the rally that began after the September sell-off. During Last Week’s Action: Alongside waning fiscal stimulus hopes, U.S. index products failed...
Here is my fundamental, technical, and news analysis of DXY . There are so many question remarks regarding the future of the US dollar forecasting a holding downtrend. I believe we will see the dollar drop to the September 1st low of 91.750. News Analysis Reports of the likely hood of the stimulus passing before the elections are slim. As a result volatility...
Tracking Boeing's Structural price Premium/Discount arrays
Good morning traders, All eyes are on the US stimulus negotiations taking place as we speak. We all know a stimulus package is on its way, it is just a matter of when and how large. If the Democrats and Republicans reach an agreement prior to the elections the USD is primed to fall lower. This is a big IF. There is a large gap between the two proposals, and...
The $1916 resistance is currently being rejected. If the daily close is above this area, the $1923 & $1975 target will be in sight. The DXY is still weak as the US equity indices still range in hope of a stimulus deal. The equity markets are on a risk on mood and this might pushed the bullion higher as a safe haven.
Not legal and financial advice; any information provided here is only the personal opinion of the author.
Today they will be announcing whether there is a stimulus deal or not. As a fundamental analysis this is what I see as possible outcomes on the SP 500. If there is a deal it should rise 100 points, if there is no deal it should drop 50 points.
Watch out for the LIQUIDITY TRAP. Check the news for Stimulus Check Bill update by end of today. If they do not pass it, BTC would go south! Home sweet home Alabama!
I'm not super excited about this week's setups for several reasons. The main reason, however, is that we are moving sideways and we are in between two major support and resistance levels. Usually, it's my opinion that traders should avoid sideways markets and wait for clarity and a high probability setup. I did try to point out some possible trades, but I think...
It has been a very long time since Intermediate wave 5 failed to move above the peak of Intermediate wave 3. With it being 2020 and the world on fire, maybe this is the exception. IMHO I doubt it. Wave 3 peaked in early September at 3588.11. I project not only will our current wave 5 surpass that, but my projection has the top around 3639. This is not unrealistic....