Longer term weekly chart of China A50 stock index. Looks to be a fairly textbook pullback (abc) to support levels which were prior resistance in 2015 and 2019 before breakout higher. Given RSI also bottoming it looks like the support level will hold and enable another leg higher over coming 12-24 months.
The last time BITCOIN was this oversold was March 2020. In the following 12 months it rallied 1000%. I'm not saying there will be a 10x rally from here but in the last 48 hrs I have been a buyer of Crypto and selective Blockchain related stonks. See you in 6-12 months.
If I didn't know any better I might suggest that NDX is about to hit resistance (wave channel and rsi) and roll over for another 3-4% leg lower before a more meaningful bounce next week
Potential 40% upside with risk of 10%-15% over coming weeks if classic inverted H+S plays out with target around 50,000 and stop at 30,000
DXY has now retraced Fib 61% of the 2021 up leg and the 90.80 area has a decent shot at supporting for another leg higher into the ideal 94.50-95.00 zone over coming weeks.
Falls over last 36 hours look kind of scary but put in context of the run up totally normal. I am not a crypto permabull or apostle and view this as just another vehicle to express a view on macro themes. Pullback to $42k could provide an interesting area of support for possible next leg higher.
bear flag about to break down? targets much lower (again)
Things are aligning I believe for a decent short/med term top in stonks. Short DJIA 27250 stop 28000 target initially 25000 (with outside chance of perhaps 23000) in coming weeks/months.
Similar to AAPL, the next new high in the next day or two above 217 in MSFT should result in at least a short/med term TOP Look to sell above 218 stop 230 target 185-190 zone.
I am calling a top in AAPL on the NEXT high above 446.5 (currently 445). I am a seller above 447 stop at 467 looking for a return to 360 (yes 360) and will likely have to adjust at end August once the stock splits 1-4
Copper reached my long held target below 2.22 and now waiting for signs of a bottom/reversal for longer term rebound (green wave C) Confluence of supports at 2.20 zone, channel, c/y=a/w and where wave e (blue) of bigger triangle wave B (green) is 78% Fib retrace of length of wave d (blue) of triangle. Not confirmed until get a reversal and wave e still has scope...
Have had a big bounce in June crude futures - time to reshort imo Short 20.90 stop 29.00 target sub 10....
Looks to me like Eurostoxx vol measure has topped this week so good provide some relief for European stock indices
Having been a bear for quite a while I now see value beginning to emerge in Us stocks despite all the negative virus headlines about to hit Entering 50%-60% retracement zone of the 2009 bull market Extreme readings on sentiment/RSI etc
The bar chart is the US10yr yield minus the US 3month yield. Over the last 30 years the spread has ranged regularly between roughly +375bps and negative 75bps. After hitting extremes it usually heads back very quickly in the opposite direction. Note the turning points from the lows (red lines). It looks to me like we are about to re-steepen sharply. The orange...
I keep getting drawn back to this incredible chart of BOEING #BA since the post financial crisis lows of 2009. It has gone from $30 to $430 !! It is also a picture perfect Elliott Wave count (internally wave 3 = two times wave 1 and wave 5 = wave 1). Blow off wave 5 from the Xmas lows (up 48% in just 2 months!) Sensing a market top is IMMINENT.....and if BA goes...
Silver getting battered in the dash for cash Lowest levels since 2009