We can easily see distribution occurring. I have out lined important levels. Big Picture on Daily/Weekly/Monthly is MEGA BULLISH(even more than SPY if you can believe that). But we are approaching SERIOUS resistance at the 2000 levels. After we break out of 100... 115 will come, but it will be a slower rally as that will see a MAJOR rejection. BIG MONTHLY levels...
Q’s have broken down from this rounding top pattern on the break below this horizontal support line around the 99.00 level (now turned resistance) Unless the Q’s manage to regain that level soon, or i am anticipating for a move down to at least the 94 area, a drop of about 4.4% from current levels.
Tech's led way for most part in this market rally this summer... Especially $AAPL... but they all seem to have started bearish progression, which is when momentum slows down and allows for distribution to take over... to prepare to take market down... This is overall healthy, but important to recognize... Overall larger time frames look very bullish, so they can...
Ok - a few questions: direction? NORTH; wave? Cycle III; range? $ 112; what in the coming weeks? Alibaba IPO. It's basically everything. Cheap money results in an increase on the indices. We are waiting for a correction. www.cnbc.com www.alibaba.com
this should correct nicely first target
For complete and detailed commentary and analysis, please see our blog post published 8/1/2014: www.syncubate.com Today, QQQ closed at $95.02, sharply below both the recent $96 breakout level and the 20 day Moving Average at $95.87 (orange line on the chart). -DMI also spiked above +DMI, indicating on the daily time frame that the bears are growling and putting...
For detailed commentary and discussion, please refer to our blog post published on 7/23/14: www.syncubate.com The bald eagle can fly, but US markets seem to put it to shame, flying even higher, with QQQ taking the lead. A National Symbol change may be in order here, but I digress. Since the mid-April lows just below $84, QQQ is now up over $14. Quite a run, no...
For detailed analysis, please see our blog post dated 7/20/14: www.syncubate.com A tug of war is in play here between the bulls and the bears. This is now the second time since the beginning of July that the 20 Day MA has served as a support on a pullback. Although Friday's trading action was no doubt bullish, -DMI is still poking its head up above +DMI, as...
In our latest blog post, the subject of trading losses is discussed, with an emphasis on establishing rules and having a trading plan in place in order to overcome hurdles and facilitate one's long term success in the markets. For the detailed blog post, please refer here: www.syncubate.com This chart on QQQ is an example of framing a trade, such that one has a...
It started 2014 year as laggard and was trending lower in bear channel. But then it bounced off of 200 EMA with RedDogReversal, regrouped and have built higher highs. Finally, sentiment changed when it resolved this indecision area with break up of resistance at $88.60 with nice 4 days follow through. Traders should adapt and make adjustments if they want to...
QQQ retested the blue trend line and got rejected (so far). RSI is weakening (but still above support). MACD turns negative. NASDAQ 100 above 20 days MA (NDTW) is declining indicating deteriorating internals.
Powershares is showing signs of potential bearish crab pattern. The PRZ is measured from A to X leg at the 1.618 extension level at price $96.23. Even though there is naked structure around $96.28 kill zone, There is confluence at $96.28 at the 3.618 & 1.618 extension level. This should act as resistance. If this plays out, we should see a good rejection which...
There's a potential gartley showing up. If C leg can make it up to $92.68-$92.74 we may see reversal in price upon the completion for an intra-day trade. For longer term, price action may trade down to 91.08 to complete a Bat pattern. There's strong structure around $91.42-$91.13. The Bat pattern would make for a perfect retracement back to the trend line, if you...
In a chart similar to SPY, QQQ has reached trendline resistance and need to consolidate before another leg higher is possible. When prices move quickly vertical they need to take a moment and "cool off" before another wave of buyers can move in and push prices higher. A candlestick pattern detailing the selloff hasn't appeared yet as price is still higher but...