There is nothing much I can say but I will try to say a few things. First of all, 3M company is one of the strongest companies in the DOW Industrial average, you can see that by plotting the Dow on the chart. Swing trading works very nice on this stock, breakout trading too. We had a retest of the previous resistance, now support. At this level we had an...
So Apple... What i love most about it is the fact that it is not correlated to the american market, which is great cause on a bad day when my Dow stocks are down, Apple might give me some relief. Now, let's talk about the stock, not my emotional problems. The big picture for me is the AB=CD leg and the double top. I have seen more AB=CD patterns in the past on...
This is not a trade ideea, I just wanted to label what happened last 8 months, so when I will see the next signal i can compare it with the recent history. The chart is kind of full, so I recommend you watch the numbers in the elipses and look for the explanation, not the other way around. Now, about the chart, I can't make a 100% prediction on the resulting...
The first trading day of the year and it doesn't look good, the situation is much worse in Europe. I hope I am wrong on this, because I am long AXP, long KO and long CSCO, this ideea being more of a hedge position for me. Let's look at what happened before the last 2 big corrections. The MACD was shouting out to us that things are not looking good. The three...
This is my previous ideea on Coke, worked almost as forecasted Since that ideea has reached its second target, we had a correction and today we have a breakout over the previous high. The MACD looks good, no warning signal there. Note also that the previous high bounced of the 61.8% fib (measured from the big uptrend high to the big correction low), so we have...
This is a simple breakout ideea, not much to comment. As highlighted, a strong resistance area is now broken, on low volume, probably due to the holidays. I expect Europe to go up, together with most of the global markets. First strong resistance is at 3216, maybe a correction or consolidation when we get close to that level, but first let's get there and then we'll see.
After a big gap down, Cisco is becoming interesting. Let's take a look at what happened last 6 months. After a strong rally, the stock gapped down strongly in August, a sign that the big uptrend is over. At the 3rd wave bottom, which at the time i thought to be a C from an ABC correction we had a tripple bullish divergence, both on the MACD lines and histogram,...
Merry christmas written in some of the best tools used to forcast future market direction, fibs, Elliots, harmonics and trendlines.
Let's take a look at facebook from the beginning of the current uptrend. Everything started with a fry pan bottom, labeled in red. The confirmation signal was that huge gap up, an excellent buying opportunity. That gap showed us that the investor's sentiment on facebook changed, bulls coming to power. Then after a few months of upward movement and a correction (...
I am going to set this chart on neutral because I don't see the buying signal yet, and all the global markets are down this week. I am allready long this stock, I'm currently sitting on a loss, waiting for the market to turn, with a stop under the daily support and the last swing low. Now let's have a look at the chart. The most obvious point of this chart is the...
First i wan't to state that, as labeled in the chart, it's all about the monday open! The ideea of the 5 wave formation came to me a few months ago It went beatifully. Now we have a possible abc, i say possible because we have to see if it will rally. Now let's take an indepth look at the chart. The first wave starts from the bottom line of the broadening...
The big downtrend in the aussie has entered in the last months in a consolidation phase. The last weeks after the RBA announcement the pair started going down again. Now we are in a very strong support zone, so i expect a bounce. Target outlined on the chart ( it may be a bit optimistic). The histogram shows us that the power of bears started to diminish, even...
After the news about Apple buying Prime sense, the stock started to rally from the consolidation period. Yesterday we had a strong break over the consolidation area, now we have in front the 50%fib retracement from the big downtrend and also strong resistance at 548. A close over this levels and we should see the stock reaching the 600$ target. Notice also how...
After the news came on soft Canadian inflation, o shooting star formed at a strong resistance zone, touching a trendline, forming a tripple top. Tripple bearish divergence on the MACD, so we are probably due to another correction, perhaps to the main trendline, or even a false breakout under it to the strong support at 1.02700. Today at the time i post this chart...
Ebay has been trading in a wide rectangle for almost a year. The 50 dollar level is very significant as outlined, the stock always finding buyers there. The MACD lines looked really messy, without any pattern, or at least i couldn't figure it out. No pattern in volume either for my eyes (rookie eyes!!!). Therefore, I plotted only the MACD histogram which looks...
This is what the japanese call SAN-KU, or in english three gaps. This is a bearish setup in an uptrend. Along the san-ku, we also have an island reverseal pattern, which is a very powerful reverseal pattern. Weekly chart looks really bearish. All notes on the chart. IMO the uptrend is over and it is time for a correction or a consolidation ( probably a...
A couple of weeks ago i published a chart of this pair where i highlighted how it loves to bounce of support and resistance. My main target has been reached, the 1.12000 area. Now we have a big hammer with a wick going under the big weekly support. A hit and bounce again !! Also, a huge class A bullish divergence on the AO which gave many good signals in past too.
This pair has run up again to a strong sell zone (also the top of a rising wedge). The MACD and AO are starting to show divergences, but as highlighted, there is no confirmation yet. 134.500 is a huge support from the weekly chart dating back a few years, while 135.300 is more of a daily resistance, but you can see it also on the weekly chart. Today we have a...