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What a difference a week makes.
Through the week we've seen indices lose the gains of the year (most of them dropping to October sort of levels) in the US. Some markets have even worse performance, with the FTSE100 now under the lows of 2019.
Through the fall the Dow bounces were astonishingly small. Even as someone who is highly bearish and expected to see...
That's one to the bears.
Price hammered through multiple support levels.
Daily 200 SMA broken across the indices.
Large stop loss areas taken out.
All we need now is a rally from a bit below current price around 25,500, and then a rally to around 27,500. This is where our big shorting opportunities come.
If this happens and then we break the lows made here,...
I am closing my most recent sells on the Dow with a small profit and taking a short term buy position on it.
It's starting to look like a double bottom is forming, and we'll probably see this up a couple percent before there is strong selling.
Dow Jones continues to be weak. We have to be careful of strong corrective legs so we are best to use tight stops at this point, but these breaks and shallow corrections into new breaks seem like they may keep continuing. I am selling Dow and will probably add more sells into rallies.
My target is 25,900 for this swing.
Breakout in crude after really sustained selling of oil.
This could lead up to see a lot more downside, but it would be better for trading opportunities at the moment to just wait and see if a rally sets up a better sell.
Gold has traded above the level I had as it's breakout level. It never traded above it long and it may be a false breakout and continue down, but buying a bit lower with tight stops gives a good trade. We can limit risk, and if it breaks out again a strong trend may be under way,
The relentless selling of the Dow has taken it through another two supports without any retracement. I think it's highly unlikely it will continue to fall without retracement and am looking for supports in around 27,000.
The rallies from here on may not the strong ones into new highs people have become accustomed to. We might start to see the highs getting...
After yesterday most of my recent forecasts are into profit, but I expect there to be some bounce back against them today.
I am looking at a Dow low in around 27,700 and a high around 28,800. I am going to load up a new wave of sells on 28,800 and off load some profits now as we spike under yesterday's low.
Platinum may be entering into an uptrend after it has fell to a strong retrace level and now broken a long term weekly trend line. This may indicate we're in a bull market and using accumulation strategies targeting around the highs can be highly profitable.
Around 1,650 - 1,700 gold has its crucial resistance level. In this area it has some possibilities of reversing and a down trend could follow from that, but if it breaks over this area we will probably a new all time high in gold - perhaps finally touching the 2,000 level that people have long spoken of.
I am looking for opportunities to use intra day trend...
Parabolic gains may soon change to pain for Microsoft investors. The rise and rise again of MSFT on this weekly chart has clearly been unsustainable for a while but sprinting on based on pure momentum. Once this momentum starts to fade, sanity will return. Sharp falls in MSFT may follow.
The break of the trend line will give strong sell signal, but since it...
AMZN has formed all the stage of a bubble template on the weekly chart. We may be seeing a false breakout of 2,000 here and when we trade back under here we might start to see a lot of selling momentum resulting in a large fall in AMZN.
From here we should look for initially a sharp sell off. Then a bull trap sort of rally. If we see these two things, we can ...
NZDJPY has been in a fairly steady downtrend for a long time, and recently started to fall after retesting a long term trend line on the weekly charts.
If the lows break the next support is 63, and if this breaks 50 - 45 area for next targets. This is a huge percentage drop on this with its current price at 70.
I do not really understand why Bitcoin trends so well, but after watching it do it for 10 years all I can say is, "It does!".
After its last big expansion and correction (bubble and pop) we've made a first breakout level and now found support on the trend continuation retrace level. This may be the start of the next BTCUSD boom into all time highs, and beyond.