short area? if we get there, might reverse, looks like lots of short coverning
Preceding 1 hour trend is Up. First correction down is a clear 5 wave impulse pattern with momentum signature and volume pattern to match. The Bulish correction is overlapping, contained and described by a channel. The first impulse against trend is always an A wave in EW terms. It cannot stand alone in a correction. On the 3 min chart, the rally from today...
Dow Jones ends the year with slight bearish note. We will be having first NFP of 2015 next week. So, I expect a pretty volatile week. I am Bearish on the index with 17880 as upper resistance, and we will have resistance again at 17040 level Resistant: 17880, 18050, 18270 Support: 17040, 16353, 15807
This index just failed to break 17030 level, which is the bad news for Bearish traders. Last week and next week, market will be pretty unreliable with the thin trading during the holiday week. I am Only Slightly Bearish on this pair as Bull and Bear have pretty even percentage of winning. And we had lots of Smart Money's possible heavy buying near 15800 ...
We see some major indices in final stages of an extended third wave, that could cause a temporary high on stocks, as we expect a deeper retracement in to a corrective wave four. On some of them we also see a wedge pattern in current late stage of an uptrend. It is called an ending diagonal, that usually causes a sharp reversal that may happen sometime this year....
DJIA failing to move higher. Possible top - MONITOR
08:20am: Not much change in commentary from yesterday. Today Fed is expected to remove the "patience" from its interest rate policy statement. If so, markets will expect a rate hike in Jun Fed meeting. This is likely to put pressure on the markets in the intermediate term as the expected rate hike, the first since 2006, will be perceived as a game changer. If...
08:45am: This week will be eventful. Fed is expected to remove the "patience" from its interest rate policy statement. If so, markets will expect a rate hike in Jun Fed meeting. This is likely to put pressure on the markets in the intermediate term as the expected rate hike, the first since 2006, will be perceived as a game changer. If the above unfolds, USD can...
08:00 am: This week will be eventful. Fed is expected to remove the "patience" from its interest rate policy statement. If so, markets will expect a rate hike in Jun Fed meeting. This is likely to put pressure on the markets in the intermediate term as the expected rate hike, the first since 2006, will be perceived as a game changer. If the above unfolds, USD...
11:00am: Market making a round trip and wiping out gains from yesterday.
08:17am: After yesterday’s massive short covering rally, the Dow futures are giving up some gains in the early morning trades. YMH5 is trading at 17836, 30 points lower than yesterday’s close. USD is again strengthening and may further strengthen if the 8:30 am data release is perceived to further support US economy strength. This will put pressure on the Fed to...
Set-up for Mar 11 YMH5 futures traced a range expansion day on Mar 10. YMH5 is being controlled by an outside week bar last week. . Expecting continued weakness today especially if the 1st hour low is taken out. In the intermediate term support is at the weekly uptrend line at around 17500. Overnight markets were bouncing with low at 17669 and high at 17733....
YMH5 futures traced an inside day on Mar 09. YMH5 is being controlled by an outside week bar last week. . Expecting continued weakness with support coming at the uptrend support line at around 17500 in the intermediate term. Overnight markets were weak and at present YM is off about 115 points from yesterdays close to 17855. Sh0rt below yesterday's low at...
Set-up for Mar 09: YMH5 futures traced wide range day on Fri, Mar 06. Expecting continued weakness in the early going on the open on Mar 09. Daily PIvot at 17942 and 5 DMA at 18038 will be the initial resistance on any bounce. If 1st hr. hi is exceeded shorts should be closed. For instructional purposes only.
The ym may establish a retracement. Price is currently at a 1.5 fib level along with being at the top of a channel. If price falls, price may retrace to the pivot low ( described on the chart). Which then may lead to a sell opportunity at the 17370-17700 level, and maybe fall to a support level at the 14450 area.At the 14450 price level rests a middle channel...