The SP500 continues to trade in a very narrow range for the second week in a row ahead of the release of key economic data on Friday preceding the December Fed meeting:
Meanwhile, market breadth is getting oversold:
The fastest moves usually occur the last few days before market breadth turns.
Market Breadth Data******************************
Monday, November 30, 2015
Monday, November 23, 2015
$SPY Pattern and Trend
The SP500 has been stuck in a very narrow range for the last three days, defined by support at 2076 and resistance at 2094 (90 degrees up from the Nov 16th low):
The next support/resistance levels are 2115 and 2040.
The next support/resistance levels are 2115 and 2040.
Friday, November 20, 2015
USDJPY Trade Setup
The USD is in an upswing against the JPY but got rejected twice at the 90 degrees up price target calculated from the Oct 15th low. Currently, the USD has found support right on the 30 degree up angle drawn from the same low. A continuation of the trend should lead to another retest of 123.5. Any break below the support angle opens the door for a retest of the Nov 16th low:
Thursday, November 19, 2015
$SPY Pre-market Action
The futures have advanced exactly 180 degrees up from the Nov 16th low. 2094 becomes the next fulcrum:
Wednesday, November 18, 2015
$BID Trend and Support
Despite the record setting auction price for Modigliani, BID (the global liquidometer) hasn't done very well lately. The stock, however, is approaching a multi-year support zone, and an oversold bounce should be expected.
Monday, November 16, 2015
$QQQ and Gap History
Mission accomplished: gap filled:
Not completely out of the woods yet on the daily, but shorter time frames are on a buy signal already.
Not completely out of the woods yet on the daily, but shorter time frames are on a buy signal already.
$EWQ and Terrorist Attacks
Following the Jan 7, 2015 shooting at Charlie Hebdo in Paris, the CAC40 sold of initially, and then gained 28% in following 4 months. CAC40 and European futures are rebounding already. Expecting a retest of the April '15 highs:
Saturday, November 14, 2015
$SPY Pattern and Trend
Perfect 38.2% price retracement of the last upswing for the SP500 (also a Sq9 diagonal hit).
Timewise, the September '15 and the December '14 declines have been matched:
Timewise, the September '15 and the December '14 declines have been matched:
Thursday, November 12, 2015
$QQQ Gap History and Price Targets
The Qs came within .3 points from our target. The subsequent decline started within two weeks of the gap, which is still waiting to get filled:
$SPY Gap and Trend
SPY is currently testing key support angle just above the Oct. 23rd gap area:
Market breadth remains dismal.
Market breadth remains dismal.
Wednesday, November 11, 2015
$SPY Pattern and Trend
The SP500 finally parted ways with the Oct '14 bullish pattern, and finds itself again in the middle of the '15 congestion zone:
Tuesday, November 10, 2015
Monday, November 09, 2015
$JPM and Rate Hike
The three major investment banks: JPM, GS and MS, are surging in anticipation of a December rate hike, and in the process have left large gaps waiting to get filled
Friday, November 06, 2015
$QQQ Price and Time Targets
The Qs don't show any intention of closing the gap yet, and continue trading above the August 1 x 1 angle. Getting close to the Nov 11th target:
The SPX, although in a slightly weaker position, is also holding above the trend line:
The SPX, although in a slightly weaker position, is also holding above the trend line:
Thursday, November 05, 2015
$SPY Long-Term Trend Update
Since the early eighties, there have been only two bearish SPX ma crossovers, and half a dozen near misses:
Wednesday, November 04, 2015
$FXF Trade Set-Up
The USDCHF is showing a doble top in the making, combined with loss of momentum (negative divergence). A break below the 1 x 1 angle should trigger a short entry:
Tuesday, November 03, 2015
PCLN Ahead of Earnings
PCLN has a history of massive upswings ahead of earnings (next due on November 9th), followed by sizable sell-offs.
Monday, November 02, 2015
Subscribe to:
Posts (Atom)
Terms of Use
All rights reserved by the author. The material contained herein is original content and is the sole property of the author. Any commercial use or reproduction - either in part or whole - is strictly forbidden without the author's prior consent.
Disclaimer: The information provided here is for educational purposes only and does not constitute trading advice nor an invitation to buy or sell securities. The views are the personal views of the author. Before acting on any of the ideas expressed, the reader should seek professional advice to determine the suitability in view of his or her personal circumstances.