As you can see with the yellow, dimly-shadowed, Bearish Cypher, it took prices some time to finally turn to the downside. Although going short would of been a successful short-term trade, the outlook is still bullish. The current Bullish Cypher, the green one, is iffy. The top portion that hit the former resistance just barely missed the minimum 1.13 extension,...
Dow Jones, like the S&P, are destined to rise before the long-awaited correction. Judging by the volume of the past month or so, large bets have been placed on the long side. As for the past trading day, the large volume bar was a pseudo-indecision bar. I'll be on the sidelines for right now, as I would have entered at the completion of the Gartley that formed.
Keep you'r stops tight and their is more meat on the upside. I might be picking up some shares at or around the 9 day moving average if I get that oppurtunity
To put things in perspective, the Daily chart is showing a descending triangle formation. If volume comes into play as expected, prices should rally towards the trendline around 131.00. That would essentially put the bearish Shark pattern in play. Back in Mid-March, Gold sold off heavily around 133.00/133.50, leaving me all the more confident a retest will, at...
I see that we've recently completed a short-term AB=CD pattern. It was actually structured extremely well, with price reacting to the Golden Ratios beautifully. What intrigued me, however, was how the Volume played a factor, at least retrospectively. I didn't point this out on my chart but here's how: From the bottom of A up towards to B, high volumes produced...
I believe the S&P will continue to trudge higher until we begin to see great sell pressure at highs leading to the long awaited correction. This Gartley, along with RSI/MACD divergence and high VOL at the lows, presented a nice opportunity to buy relatively low in hopes of another push towards the highs.
TWO BIG BANKS HAVE COME IN FOR SUPPORT AND IN THIS CASE HEAVY VOLUME OCCURRED WITH MINOR NEWS AWAITING THE PHASE THERE PIVOTAL STUDY WITH ITS OSTEOARTHRITIS DRUG AMPION SHOWING MAJOR STRENGTH, BUT HEAVY VOLUME COMPARED TO 30 DAY LEADS TO BELIEVE THAT THE 30 DAY SUPPORT WILL NOT BE BROKEN AND WITH SUCCESSFUL COMPLETION OF THE CARTRIDGE REGROWTH PACKAGE NAMED "KNEE...
Here's how to mark up the weekly High Volume levels to trade against. Many long and short trades were available
We might need just one more day for FXI to reach its current rival in the upper 38 level. A Gartley pattern is about to complete very poetically near this very stubborn price zone for FXI. We have reached it numerous times without any luck of sustaining it, and with the bearish Gartley pattern backing this one along with noticeable bearish momentum divergence, I...
Tuesday brought news concerning VRX's plan to takeover AGN which saw a noteworthy spike in volume and price today. Prices faded into Monday's trading range creating an Inverted Hammer near major support. With the price action movement, we saw the mac-d histogram make its first higher low over this last leg down along with a bullish cross coming from the...
Friday saw a huge institutional volume spike on a shortened trading day. This came at great support for YOKU and we have very clear bullish momentum divergences on the stochastic and mac-d histogram indicators. Of course, the bullish pin bar that developed due to this strong support bounce is confirmation that this stock is poised to go higher from here. I would...
Pin bar bounce at support came Thursday with above average volume along with major momentum divergence; also, Friday brought a price close above Thursday's high price. Look for price to hold above Thursday's low of 60.54 and retest the highs from last Monday around 70.50 which also coincides with the first noticeable resistance/support level. Entry: 64.16...
Friday brought a huge bounce on very high volume at a great support level for CBS. There is also very strong bullish momentum divergence seen on the mac-d histogram and the stochastic oscillator makes it seem price is making plans to pop off hard. I would play a limit order for the closing price at 56.74 with my stop loss 5 cents below the low of Friday. Sticking...
Overall most of the indicators point to the fact that we are not breaking the trend. There is SOME volume, but not volume the way we saw in the bubble. If anything it's volume that supports price stability around this range, however I think selling could be imminent. The same pattern of volatility has taken place all the way down the trend line in respect to the...
Follow up to previous analysis Tesla motors is at a nice level that is certain to attract both bulls and bears. Please read notes on the previous chart to gain context. Full story (if you like a nice story) here -> t.co Expect some profit taking from shorts towards EOD.
Follow up to previous analysis, if you read the notes, I mentioned that a volume > 150mn is needed. Instead the next candle broke out on 100.305mn and the candle after that saw a bearish sentiment. Price could now go back to testing 181.75, but volume here will be key. Refer to notes on chart when price was trading near 181.75 for context. Key points: -...