Dubs

Dubs

This has been the biggest bear market rally in history, breaching the 0.618 retracement levels of most markets, leading many to call for a v-shaped recovery. This won't be the case - the bounce has been so great because this has been the fastest sell-off in history, leaving the 200 DMAs higher than in the past. Now that the 200 DMAs been breached (they often...

Dubs

Expecting the S&P500 to make a new low from these levels. The blue bars are the GFC top and show a lot of similarities to the current topping formation. At this point, the blue bars retraced by 50% and continued down to a region that triggered a lot of margin calls. I think the same thing will happen if 1800 is broken, with the first support at the GFC high, and a...

Dubs Updated 

Oil is currently dropping on a lengthy RSI divergence - i'm expecting a bounce at the OTE retracement (half way between 0.618 and 0.786 fibs) or with less probability at the 0.786 fib. Expecting resistance in the area between $31.60 (0.382 retracement of the $34.76 high) and $31.75 (previous support), which should cause a retest of the $27.50 low.

Dubs

Daily RSI is extremely overbought for not having broken out of the long term downtrend, and price has hit this line and the median line of the downtrend. Looking at low at previous support of $99 if $220 support breaks.

Dubs

There looks to be a lot in common with the current bitcoin price action compared to that in May 2014. With 18k BTC swaps loaned on Bitfinex, a push above $300 will also be fuelled by margin calls of shorts opened in the $210 to $240 consolidation range, which could result in a spike to the 1.618 extension at around $400.