Yes this is the week all of us have been waiting on EARNINGS!! With over 800 companies reporting this week it is critical to take a look at what the daily charts are telling us. We look at a basic Elliot wave setup and notice that our fall from the top in March was not just a correction it was a change in the current market cycle. The first wave was extremely...
Here we are right around 50% in the retracement from our highs a few months ago. For all you Elliot fans these waves have counted out correctly with an aggressive five wave down trend followed by an overly excited correction. The new wave pattern is starting to take sum shape but the biggest concern is the 50.0% and 61.8% retracement level. seeing how most traders...
Apple has been on a bullish run for weeks now! After a delayed reaction from the blurry-future subscriptions services announcement Aapl has been on a Tear! Hey we all know that markets cycle and how important support and resistance is for traders, institutions, market makers, analysis and the overall behavior of the market itself. If you are reading this you have...
Following a nasty Jan 2-9 downtrend the $USDCAD has shown a rally since hitting that very strong support (blue line). This rally has lifted it to +2.16% for the month. Often regarded as a safe haven currency I can see major players jumping in on this really low price and soft rally. with a 200 day moving day average of 130866 as a solid stop loss this might be a...
$NIO has respected resistance levels a few times since its I.P.O. $NIO. $NIO is stuck inside of this triangle until volume improves next week. With such brutal market conditions $NIO is only 12.61% below its 20 day simple moving average. Still ahead 2% for the quarter any breakouts of this triangle will cause a HUGE SHORT SQUEEZE that will cause polarity. More bad...
The Yen a.k.a "the" safe haven investment has seen sum nice rallies this year. So whipping out the Fibonacci we can see that from our swing high October 3 we had a high of 114.52. We are at around 38% retracement of that price so we should expect to see a bearish push since it has held very nicely as a resistance. The Rsi as of this writing was nearing the 50%...
