Should we be concerned about the USD/JPY "BEARISH" Divergence?
Great increase of upward movement today on greater than average volume. Prices closed very near the high of the day; however, even with the extra volume prices could not break resistance (C). The next few trading days will be very important. If the rally falls and this creates another lower high below resistance (D) then I believe we are seeing larger scale...
Tesla is trading within a larger weekly-monthly distributive pattern. The 7-month trend has been within a BEARISH descending channel. Each prior attempt to test the upper trendline has formed a rally to has failed to follow through...an "upthrust." Longs are holding onto *RISK* into resistance. If the 50% Fibonacci retracement holds the bias would continue...
SPY closed near the high of the days regaining greater than 50% of Friday's bullish close. Still no presence of sellers. $203 gap and price target coincides with 161.8% Fibonacci retracement. Looking for "climatic" volume before considerating a short entry.
SPY "markup" continues as sellers remain absent. On watch for "climatic" volume to mark signs of a "stopping" action and transition to distribution. Target is the "$203 gap the coincides with 161.8% Fibonacci retracement.
IWM buyers appear to be attempting to "absorb" supply." No gross selling pressure noted. Accumulation and Markup thesis intact. A test of demand between $101-$103 would allow bullish bias to remain intact with $116 target. Anything below $101 and the world is coming to an end!
Bulls remain in control of the ascending channel as sellers were unable to follow through with yesterday's decline into FOMC. Support noted at 61.8% retracment
QQQ is trading into several levels of resistance to include a declining time cycle. Greater selling pressure noted on the downcycle compared to current upcycle
Tesla motors weekly chart is showing signs of organized distribution. Today higher open into resistance will likely fail as distribution continues
AMZN broke 3/1 Gann angle suggesting bullish bias into next level and 50% retracement zone. Demand is contracting so I'm leaning bearish bias following $586 target
Demand is contracting into resistance. Breakdown would suggest a test of $97
SPY is confirming accumulation on the 4 hour chart. I'm looking for a long entry on at test lower as long as volume remains light
Starbucks is trading higher on contracting volume. easy of upward movement is contracting testing resistance.