Low 29th October
Establishes a 2 week cycle low
Next cycle low end of this week
Reversal established when index gapped above 7071 on 7/11
Double bottom (pullback) at 50% retracement off the reversal
31st October opening gap now filled
The combination of these factors signal a bullish rebound.
Simple trendline and 50 day moving average both of which have provided great support this year. Price and RSI bottoming onto these support areas, so I'm a buyer here looking for >6000.
This despite the RSI divergence on this chart which suggests a correction is coming (but not right now).
Nasdaq 100, bearish pullback?
The Nasdaq 100 I think is completing the pullback of the last breaked
bullish trendline (red dotted line)
I would go with a multiday short
under 5560 with target 5538
and stop 5715
Looking at the US debt, Japanese debt and the recent slowdown in China I think we are in for a fall in Indices in a big way. I am seeing far to much volatility for these highs to be sustainable.
Record highs in FTSE, CAC40 and Nasdaq recently and a current P/E ratio of approx 22x ( basically companies are valued 22 times more on the stock market than their actual...
The very late correction.
we are awaiting that correction for too long and here we go.
went above every trend line breach after breach without correcting.
Still an open gap at the bottom of the last rally.
FIB is at the trend.
First TP at 0.618 and its a hell of a move.
RSI negative and yet dose not show on the chart which means there is going to be a high...
Daily head and shoulders formed - missed short at 4810 (right shoulder 61.8% retracement)
|Missed Short: 4810 |Stop (Over Head): 4917 |Target: 4400 |
Looking to take a short entry on an hourly pullback next week.
- Head and Shoulders (right shoulder entry missed)
- Flat Neckline
- Expecting sell off to test neckline at 4650
- 20MA crossed under...