This is the monthly chart of the AMEX:SPY the ETF that follows the S&P 500. Above the price chart is the Twiggs Money Flow indicator. Note the significant bearish divergence, evidenced by a decreasing trendline on the indicator while the price trends upwards. While bearish divergence alone does not always lead to a trend change, for the last few years, with...
Here we have the weekly chart of the Russell 2000 index futures market (similar to the IWM if you're trading ETFs). The small cap index is often thought to be a leading indicator of US market sentiment. Whether this is due to its wide breadth across industries (2000 companies vs 500 in the SPY and just 30 in the DOW) or because most of the companies in the...
Looking at the weekly chart, QQQ (which primarily consists of technology growth companies plus a ton of AMZN) has once again faked out the bears and melted higher....however, this time, I expect we will see a significant retracement. Not only has trade volume been dropping during this last push higher, but we can see that we have produced a "blow-off top" above...
Ethereum breaking over the 100 sma will be explosive. It's not too late to buy the dip on crypto. ETH should break 300 by the end of the year.
Hope you're long Bitcoin...if not, appears to be about $150 of this dip left to buy. Momentum is once again with the bulls. Watch for $9,200 to hold on the next dip for "confirmation" but this is as good a spot as any to get long.
Bitcoin has a lot going for it in this price range. We're seeing bulls try to hold the lower 8k consolidation zone from June '19 (and before that, in July '18 it was strong resistance). This is generally good enough on its own for me to look for a scalp opportunity (given the right reward vs risk ratio). In addition, there is a divergence on the Daily chart...
Daily chart 200 moving average test. We knew it was gonna happen eventually. When it does in a bull market, we buy it! Bullish divergence helps. Also some trendline support that likely sucked in a lot of bears. Fuel is there for a big move back to the top of the triangle.
Bitcoin remains BULLISH! Bulls have successfully defended 10k with daily closes above the established trendline. A strong close above the daily 50 moving average will print a morning Star reversal and confirm a bullish wave 3... The strongest wave in a trend. Don't be caught short here! Continuing to buy dips!!!
Looks like the video didn't reveal my drawings as it appeared to during recording, so I've posted the weekly chart here for a zoomed in picture. An unsustainable trend typically results in consolidation or a reversal in said trend. The Month of September will be critical to the US markets, as can be plainly seen in the S&P 500 Futures chart. Bulls have gone...
I'm beginning to build a long position in TVIX, the 2x leveraged long volatility ETN. While some say you can't use technical analysis on a leveraged fund chart like TVIX, I personally believe it can be done using a log chart. This play is based on both technical and fundamental analysis. I'm purchasing shares for this trade rather than options to avoid the...
Daily and 4hr ADX-DI signaling bearish control. 50ma acting as resistance. Selling the breakdown on a quick drive lower is offering better odds than buying the dip.
I'm long on the dip, and I'll add more if we dip again, but a shorter timeframe trade can be had with a breakout over the 4hr 200ma and a trailing stop a bit below 2 previous pivot points . Target is around 11,500-11,750 before another significant dip is likely. Don't over-think bitcoin.
Bitcoin is right on the line between long and short...Some what of a bounce should be expected after 9 red 4hour candles....but there is new-found fear in the crypto market that needs to be respected...and taken advantage of when appropriate. I'll be positioning as if lower will occur first, and prepare to ride the train back up again after bullish sentiment...
Breakout coming in 3....2.....1...BULLS! Buy as long as we don't close a day below the longer-term trendline around 8500. If buying the breakout, a stop under 8800 might make sense, but a flash-crash wick before breaking out could still happen. 12,000 is first longer-term target; 17k+ possible on the weekly chart without too much trouble, as falling wedges can...
Patience may pay here if you have been sidelined from crypto. This dip is producing some decent odds for a bounce, even if we don't make new 2019 highs. The idea here is to catch shorts entering or adding below July lows. While losing 10k is potentially the beginning of the end, a relief rally overtaking and back-testing it would produce a swift face-ripping...
Bitcoin on the weekly looks like a healthy bullish trend ...daily had a brief pullback....and now the hourly signaling potential buy signals. Don't blink, you could miss it. Look no further than the Ichimoku system and divergence. ADX can help with timing. Remember, Bitcoin is technically quite "honest"...it's just volatile. Don't overthink it. Trade what you see.
This is such an obvious buy spot....MAYBE too obvious....Price refuses to close below the 61.8% retrace form the earlier breakout in May. The base on the longer time frames is solid, with a very promising falling wedge breakout (see monthly chart). We've overcome weekly resistance at the 50 and are consolidating near the earlier breakout point. If we fail here,...
Bitcoin took the seemingly sudden and violent dip I expected. There's no way to know if it's going back to higher highs anytime soon, but there are good odds here to start giving longs a shot, so I've re-entered. There are plenty of additional buy points lower for the long-term plays, so I don't feel the need to chase anything yet, but the hourly 200 moving...