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Must go down to go upWe are still in an uptrend after that small breakout from the diamond top. The 4hr chart clearly show's we're still in the process of completing the ascending/rising wedge, a bearish chart pattern that breaks DOWN 68% of the time. We should get another move up for another test of the upper trendline, or 1:1 Gann Fan (highlighted in GREEN). It makes sense to go back up to this area, otherwise it will leave a CME gap that WILL eventually get filled. Going to wait for a break out above or below the upper/lower trend lines before making a move. Hope you're all having a great weekend! If you agree, please give me a THUMBS UP and/or a comment :) If you disagree -state your case below and let's put our brains together on this!
BITSTAMP:BTCUSD
by BitCapJNY
Future of Financial Instruments and CryptocurrenciesIn the article from Sep 28, 2016 , I talked about the fact that over the next 5 years there will be a financial crisis, but how events will unfold for the existing global financial system is difficult to say but we will try to analyze and draw conclusions. We see that in 2013 a new financial bubble in the economy was launched, it is based on completely new instrument and technologies. This is no longer real estate, not precious metals, not stocks, not oil. This is a new period in the global economy. The international system is undergoing a paradigm shift in determining the value of money. A completely new type of financial instrument is developing in the global economy; it is a Cryptocurrency based on Blockchain technology. This is a currency endowed with value, based only on the number of people who agree to use it as a payment instrument without the participation of intermediaries in the form of banks. In this financial system, the emission of cryptocurrency does not depend on the activities of the Central Banks, but on the activities of the users themselves. By connecting your processor to a collaborative network, performing certain calculations for the needs of the system, you are rewarded by receiving cryptocurrencies into your account/wallet. Imagine that soon a wealth of all nations will be determined not by gold and foreign exchange reserves, not by a wealth of minerals, but by an amount of computing power of computers in a given state and the people involved in the system. We can see it happening right now. In the coming years, we will see cryptocurrencies of large companies (Google, Apple etc.). Telegram (TON) is already at the final stage, Facebook (Libra) is in the process of developing its cryptocurrency. The immediate benefit is clear because all of them immediately have a huge number of users for their cryptocurrencies. The need for stocks as an instrument of the old financial system will disappear since cryptocurrency is both a means of payment (money) and a means of investment (stock) - Security Tokens. What is the significance of cryptocurrencies and the system of involving people in the general calculations of the new global network (Blockchain)? When cryptocurrencies absorb a large part of the money supply in the form of investments, payments, purchases, loans, the need for “fiat” money (dollars, euros, etc.) will disappear. This will entail a collapse of a classical banking system and its replacement to a new one. This incident will have adverse consequences for all countries. As is usually the case, the value of all instruments, including the cryptocurrencies themselves (for a short time) will collapse. In the future, money and financial instruments based on blockchain technologies will recover so much faster than classic currencies. It will be possible to wait out this strong crisis and reboot the financial system in gold and especially in silver in the form of ingots, which will grow XX of times for a short time. This scenario will be implemented until 2025 . Those countries who will understand the prospect of replacing fiat money with cryptocurrency the quickest way will become the new world leaders (e.g. China). In the meantime, you can simply follow or participate in the creation of a new global financial system. Today we add to our portolio BTC Best regards EXCAVO
BITSTAMP:BTCUSDLong
by EXCAVO
110
XLF Strong compared to other sectorsTicker: $XLF Huge gap up open and bulls ran with it. The only reason why SPY was so strong is because of the financial sector. XLF closed above the All time high (30.33)! We need more bull volume to confirm it is a clear break or else I would still consider it a double top with 30.33 if we reject. If we consolidate pre market and bulls open with fire, that would be ideal for bulls. If we consolidate hard, expect a 4 hour high low to form because retesting the All time high of 30.46.
AMEX:XLF
by DerekTradeEZ
US oil prices had their biggest spike. How to earn on it?US oil prices had their biggest spike. Oil prices soar after attacks on Saudi facilities and ended nearly 15% higher on Monday. Abruptly ceased more than 5.7 million barrels per day of production. We consider this situation a unique opportunity for earning. The fact is that the disappearance of 5 million b / d of oil is a temporary phenomenon. According to some estimates, most of them will return to the market in the coming days. Also, Trump is ready to sell oil from US strategic reserves to stabilize the market. Accordingly, the current growth is an emotional reaction. So oil will be adjusted. Given the scale of yesterday's growth, the correction will also be significant. So today we recommend oil sales. It may be necessary to be in the position for several days, but the goal is clearly worth the time spent. Another opportunity for earning. The Russian ruble entered the sales zone. The next round of sales (final) we will start with 62.50 (unless, of course, the price reaches these marks). And finally, the recommendation to buy gold and other safe-haven assets is also relevant in the light of current events. The US has already managed to blame Iran for the attack, so in theory, the situation could be developed. Meanwhile, financial markets received another batch of evidence in favor of the global economic slowdown. This time, China gave cause for disappointment and concern. Industrial production in Sino grew by 4.4%, which is the minimum increase since 2002 (!). So if the oil shock goes on, the chances of a global recession will increase. Today is formally out of surprises. It is worth paying only to industrial production in the USA. But in general, markets are beginning to prepare for the Fed results announcement. But we’ll talk about it tomorrow. And today, we note that dollar sales are still one of our priorities in trade.
FX:USOILShort
by Trade24Fx
Capital One data breach means nothing - BullFundamental Analysis It appears Capital One isn’t the only company affected by this--it’s just the first company to publicly acknowledge it has been hacked and the most proactive in addressing the security situation. Meaning... as soon as other companies report the same, they will get the bad attention. Because of the breach they will lose $150M-300M, which is nothing for this size of a bank. The real impact might be more of sentiment towards the stock though. Equifax very recently had a much more significant breach, and the stock just brushed it off. Technical Analysis Watch the SMA(50) as support. OBV and RSI=52, did not reach dangerous levels on this drop. MACD did cross below the signal, but it is on its way up.
NYSE:COFLong
by dorfmanmaster
UPDATE: QUDIAN INC - NYSE: $QD Continues To Grind HigherBack on June 18th, we Profiled QUDIAN INC - NYSE:QD with the stock trading at the $7.50 level at that time and noted that it appeared that Buyers were perhaps becoming more aggressive with their purchases as the stock was grinding higher and registering higher lows and higher highs, which remains the case today as evidenced in the Daily chart above. While QD printed a recent high just beneath the $9 level, we continue to witness the stock trading above all of its important moving averages 20/50/200 DMA's, which depicts a favorable technical posture as well as continuing to grind northward. Although QD has yet to overcome and clear the $9 figure and Hold thus far, both investors/traders may want to continue to monitor the action closely in the days/weeks ahead for if QD can take-out the $9 figure and perhaps of more importance, clear the $9.15 level and 'stick', we believe that such development would likely trigger its next advance into our original/initial $10-$12 zone objective, for starters. Nonetheless, we have a stock where once again Buyers appear to becoming more aggressive with their purchases. Furthermore, QD remains in fine technical shape across multiple time-frames Daily/Weekly/Monthly and in the process, riding within a channel that potentially suggests that once the upper boundaries are hurdled, its likely that higher prices are in the offing. Thus, both investors/traders may want to (continue) put QD front-and-center on their radars seeking further clues/evidence of a potential northbound move in the making.
NYSE:QD
by InsiderFinancial