German DAX just lost it. It's very hard to be positive on stocks if one of the most important stock indices is losing every line of support. There are more and more signs that a (deeper) market correction is very likely. Please read the following posts on my site to get more insight on this topic: - Winter coming? - Rotation to gold and miners? - Sectors on the...
From my blog: It looks we could see a correction in the US stocks too. We’ve been seeing it in other markets already. But don’t be mistaken, I think this could only be a correction within a secular bull market. I don’t want to be calling for a 2008 style crisis yet however it can always evolve into something bigger. There is an interesting rotation happening...
$NVDA broke down last week. Here is also a chart of $MU. If its here or lower then first target is at $33 or 20% lower from here, but I wouldn't exclude a correction to $27 or -33% from here!
S&P 500 $SPY vs consumers staples $XLP falling off a cliff just isn't something bulls want to see.
If this was a bull trap breakout in red circle watch out for lower prices, possibly a retest of 6400.
Here are two different views. One already breaking out, the other not just yet.
If BTC does not pull some kind of a stunt in terms of a bullish reversal today, Easter hols might not be pretty! Still thinking there is a risk for prices to drop towards $3k.
ES_F is quietly trending towards a crucial resistance at just below 2700. While stays below the correction is not over yet & bears are controlling the game.
If this was a bull trap, USDCAD could fall by a lot and very fast! Would be nice to see a confirmation in the weekly close!
If crude breaks out higher through the resistance if could outperform stocks in the months to come!
DJI is breaking lower out of this triangle suggesting correction in stocks is not over.
Bear markets are good and very much needed for the LT success. When high complacency with bad behavior habits, such as #hodl or we deserve this oneway ticket to riches talk is cleaned out, only then the price will have a chance to turn. This said, #BTC is trading in a falling wedge. It would be nice to see a breakout higher, but should the price break lower, it...
BTCUSD vs ES. If ES will follow a similar path than BTC recently we could see another leg lower.
Stock indices are consolidating, time to be patient and wait for a breakout..
Crude is consolidating around a key level. A week ago I posted that if this gets resolved lower longs will have to liquidate. But in no way I would not exclude a bullish resolution of this consolidation. Even if the price of oil would fall to low 50s, I think that would be a buying opportunity.