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Volatility in StocksVolatility has permeated stocks, but it does appear that 4440 is a bottom for now. We have attempted a 50% Fibonacci retracement of the selloff from highs, falling just short at resistance at 4487. We appear to be attempting to establish value in this broad range, and are currently testing support at 4464. The Kovach OBV is somewhat oscillatory, but appears to have bottomed out for now. The 50% Fibonacci level at 4492 will provide resistance, but after that, the next major level is 4505.
FX:SPX500
by quantguy
Stocks Get a LiftStocks have caught a bit of a lift from lower levels. We have reached as low as 4440, before catching a bit of a lift that brought us back almost to a 50% Fibonacci retracement of the entire bear move. We finally met resistance at 4487. The Kovach OBV has picked up notably, but has since slumped over. Be careful about this move, it could just be a relief rally into an overall bear trend. After all, September is a notoriously slow month and we still have some news events that could be of concern. If we continue to see momentum, 4505 would be a great target, as it is the 0.618 Fibonacci level and the first major level of the 4500 handle.
FX:SPX500
by quantguy
SONY breaking out for the chargeBeen consolidating for a while but finally broke the bearish structure recently and is starting to head north towards to key areas of resistance. Already got a position from the consolidation but looking to possibly add to the position if we retest that upper band of the previous consolidation. Ideally not a fan of buying into resistance but it seems to have some momentum from below so, could have some legs and my original position is already well in profit.
NYSE:SONYLong
by DeNomics
1
Stocks Slump Even After CPIStocks have opened the week by continuing a steady decline. To an extent, this is to be expected, because September is typically a slow month in the stock market. However, the CPI miss yesterday should suggest that we are to see the Fed walk back statements about tapering, which should be good for our portfolios. Due to this, we expected more of a risk on day yesterday. But a series of downgrades sent us to lower prices. We are finding support at 4440, and there is a cluster of levels below, down to 4421. If we do catch a lift, there is a vacuum zone to 4487. The Kovach OBV is quite bearish, but may have bottomed out, suggesting that we might see some life in stocks this morning at open.
FX:SPX500Long
by quantguy
Malaise Setting In for Stocks??Stocks are finding support at 4462, after some volatility. It does look like we are stabilizing about this level for the moment, after making a run for support at 4440. September is usually a month of malaise for stocks, but we will see if we can get one more burst of risk on in beforehand. If so, we could test 4487 or 4504. The Kovach OBV is pretty bearish at this point, which may be a sign that we are oversold and due for a relief rally, even if it is just a brief respite. We still have a way to go before all time highs, and must cross 4521 and 4545 first.
FX:SPX500Long
by quantguy
Momentum Due for Stocks?? 📈Stocks tumbled Friday, taking us to lower levels of support. We have identified these in the last report and we have tested these levels to the tick. In particular, we saw support at 4487, before testing 4462 which appears to be holding for now, confirmed by a green triangle on the KRI. We are testing 4487 from below again, but will need momentum to pierce through it. We are anticipating another wave of risk on to come through stocks this week, so watch for the S&P to gain some traction and test higher levels including 4487, 4505 and 4521. We have a way to go before considering new all time highs, but 4564 is the next target after this.
FX:SPX500Long
by quantguy
Stocks Finding Support??Stocks have been gradually trending downward since highs at 4545. We have broken through several levels of support including 4521, and 4504. We finally found support at 4487, to the tick. We've called out this level many times in the reports. This would have made a nice level to buy back at least for a quick scalping trade. Currently we are testing 4504 again from below but are facing resistance. The Kovach OBV is gradually tapering up. Watch for momentum at open, but we could see some bull momentum. The next target is 4521, then 4545. If bear momentum continues, watch the vacuum zone down to 4462.
FX:SPX500Long
by quantguy
CSI 300 - 2021 Q4 Outlook [1-3 months view] Trend Analysis Chart Patterns Wave Analysis csi300 china hongkong index Equity Having completed the ABC corrective wave, CSI 300 started a new impulsive wave at the start of 2019. With price testing 1st support around the 4663.90 region where we also have a 50% Fibonacci retracement and possible wave 4 completion. With the CSI 300 index holding above long term moving average and Stochastic indicator holding above support where price bounced strongly in the past, we see a strong case of price facing renewed bullish pressure. Price could very well push towards our 1st resistance at 5449.57 level and possibly even completing wave 5 target at our 2nd resistance level of 5930.90. Our 2nd resistance level is a key level as it is in line with the historical high of the index and also we have strong Fibonacci levels that finds confluence at that level.
SSE:000300Long
by EverestFortuneGroup
Stocks Tumble, Find SupportStocks fell from from the range they were holding between 4521 and 4545. We anticipated a break out or break down as they had been holding this all last week. We caught some support at 4521 and made an attempt to establish value here, but another wave of selling took us to support at 4504. We should find support here but if we see another wave of selling, 4487 will be the next level down. The Kovach OBV has turned sharply bearish, reflecting the selloff. However we have two green triangles on the KRI suggesting that 4504 is likely to hold for now.
FX:SPX500
by quantguy
Can Stocks Sustain Highs??Stocks have been ranging between the 4521 and 4545. They have been ranging for over a week now. Observe the red triangles at the upper bound of the range from the KRI indicator, and the green triangles at the lower bound of the range. These mark perfect entry points for range trading. We are flirting with new highs, so it is highly likely that stocks will breakout, one way or the other. We will see if they have the momentum to sustain ranging at highs, or if they will retrace. If so, 4504 and 4487 will provide support. If we breakout, then 4564 is our next target.
FX:SPX500Long
by quantguy
1
MTN Group Limited RSI indicators are showing exhaustion. The stock looks overbought and is facing strong resistance at R130. As a trader, I wouldn't want to buy the top right now. I'm looking for a pullback to (+- R115) before I enter a position again. There is no denying that MTN has been a top stock to own in 2021, and this uptrend should continue, but in the short term I'm expecting a 10% pullback and then a retest to current levels of R130. If it can break out of R130 then R150 is on the cards. Pullback to R115 -( Ideal entry ) Retest of R130+ then some consolidation, then a breakout to test R150. 30% upside reward from R115 levels. Not financial advice.
JSE:MTN
by TalkingCents
Will Stocks Make New Highs After Jackson Hole??Stocks dipped, finding support just above our level at 4462. We are currently testing 4487, which should provide resistance. The Kovach OBV is rounding off with the price action suggesting the overall momentum is petering out. Watch for news events from Jackson Hole to influence the price, and for stocks to remain in the value area between 4462 and 4487 until then. Our next target above is 4504 again, or highs. News from Jackson Hole could easily bring us to new highs again.
FX:SPX500Long
by quantguy
Stocks RangingStocks are broadly ranging in anticipation of more news from Jackson Hole. In an environment where the only really meaningful data point that matters is Central Bank forward guidance, stocks are waiting for a better idea. Watch for stocks to maintain this range until we have more insight or the market starts to price in a decision. It did appear that we got a burst of risk on mid trading session yesterday and we came within a few ticks of 4504. The Kovach OBV is pretty strong nevertheless.
FX:SPX500
by quantguy
Inflation TradeIn the chart below you have the TIP and IEF the IEF ratio. IEF is Ishares 7-10 year treasury bond ETF and TIP is the TIPs bond etf. On the right side of the chart you have the 10 year inflation breakeven. Now looking at the two you can see that they track pretty closely. Now generally the IEF 7-10 year has a very similar duration to that of the TIP etf. Some people are wondering how to play the inflation hedge as with some of the largest tech stocks P/E multiple compression could pose an issue to high P/E ratio trading stocks. What does this mean, and what is multiple compression. Well what happens as inflation rises that inflation starts to be built into P/E multiples, and as that happens you start to get compression of those P/E multiples this can pose a massive risk to equity holders. So my thesis would be you could short IEF, and be long TIP. This is something to look into, and I believe that spread that you can see below is going to widen tremendously. So it is something to watch out for, and a trade you might want to consider setting up.
AMEX:TIPLong
by tahirg0010
1
Potential Breakout in FANG Towards 8800Trend Analysis The main view of this trade idea is on the 4-Hour Chart. The index FANG (FNG1!) has been in a rangebound price movement after hitting resistance around the 7400 price level in mid February 2021. FANG held support at 6050 and made a second attempt to break above 7400 in mid July. After that failure the index quickly found some support around 6800 and is heading towards that 7400 resistance level. Expectations are for a break higher in FANG, with that target being 8800. Technical Indicators FANG is currently above its short (25-MA), medium (75-MA) and long (200-MA) fractal moving averages. The RSI is above 50 with the KST in a positive zone. Also over multiple other timeframes, the technical indicators are signaling a buy. Recommendation The recommendation will be to go long at market. Stop loss will be set around the 6000 price level and a target of 8800. This produces a risk-reward ratio of 1.36. Disclaimer The views expressed are mine and do not represent the views of my employers and business partners. Persons acting on these recommendations are doing so at their own risk. These recommendations are not a solicitation to buy or to sell but are for purely discussion purposes. At the time publishing, I have a position in FNG1!.
ICEUS:FNG1!Long
by Ceddy86