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We will never see such prices for European stocks again...European indices have been reddening for several days in a row. European Euro Stoxx 50 fell only -3% from the high, but this is just the beginning of a big drop and I will tell you why. Since the beginning of year, European indices have shown very good growth, which is not entirely supported by fundamental factors. Yesterday, on the channel, I already drew attention to the difficult situation in the German industry (the German economy is already in recession and will only deepen into it), but this did not prevent DAX from updating its historical maximum! It is very strange, because Germany is still famous for its industry, and not for the IT sector... Now the technical picture says that there are serious reasons to believe that the growth in European markets has come to an end. There are serious signs that the French TVC:CAC40 index has reversed. There were large sales in the shares of the leaders. Someone "big" got out of the market. Today the decline continued. Do not forget that inflation in Europe is higher than in the US, which means that the ECB will raise the rate even more and even more choke the economy, which can not stand it now! While in the US they are already talking about a pause in raising the rate. The chances of a return to the highs are melting right before our eyes. TVC:SX5E are doomed to fall… 🔰 My recommendation: If you have European shares - sell them. Then say thank you for saved capital. You can find even more useful analytics in header of my profile 🎩 If you are interested in analysis for other assets - write in the comments which asset you need to see.
BLACKBULL:BRENTShort
by Dorado_Crypto
KOSPI Composite Index - Symmetrical TriangleIndex: KOSPI Composite Index Exchange: Korea Exchange (KRX) Region: South Korea Introduction: Welcome to today's technical analysis. We'll focus on the weekly chart of the KOSPI Composite Index, highlighting a bullish reversal signaled by a symmetrical triangle pattern breakout. Symmetrical Triangle Pattern: The symmetrical triangle pattern is a neutral pattern that can signal either a bullish or bearish breakout, depending on which direction the price escapes. This pattern usually appears during a trend's consolidation period and is characterized by two converging trendlines. Analysis: The KOSPI Composite Index was undeniably in a downtrend, represented by a blue diagonal resistance line. However, this has changed as the index has entered a phase of consolidation, forming a symmetrical triangle over the last 294 days. The breakout from this pattern and the index's current position above the 200 EMA suggest a bullish market environment. The price target, following a successful breakout, is projected at 2895.50 KRW, potentially signifying a price increase of approximately 16.5%. Conclusion: The weekly chart of the KOSPI Composite Index presents a bullish scenario, with a symmetrical triangle pattern breakout. This signals a potential reversal from the previous downtrend, suggesting a favorable environment for long positions in stocks within this index. As always, this analysis does not constitute financial advice, and it's essential to conduct your own research and consider risk management strategies when investing. If you found this analysis valuable, please like, share, and follow for more market insights. Happy trading! Best regards, Karim Subhieh
KRX:KOSPI
by KarimSubhieh
Dow at 6 months Support lineYesterday Dow had closed at 33055. This is third time Dow had come near 33000 support area. This was also support zone from Dec to 5th Jan and then Dow had made high of 34400. Today too Dow had closed near support zone. Question is what next. As per our previous analysis, Dow is facing resistance at lower high made on 10th May @ 33772 and 19th may @ 33650. The blue line drawn at near support , yellow slope line drawn connecting lower high as resistance line and yellow line drawn from 33400 as uptrend support line, is suggesting that Dow is completing long triangle pattern .It had completed Shark pattern and is trading below it. Dow had retraced. 038 of move from 31400 to 34200, two times. 1. Dow could take support at yellow uptrend line which is also .500 retraced line. 2. If support line is taken away then 0.618 retracement level will act as support . 3 If 0.618 is taken away means Dow is weakening and in coming weeks Dow could test 32k and 31.5k Dow is short when shooting star and confirmation pattern was formed on 1st May. Since then Dow is in down trend.
TVC:DJIShort
by Trendz9
Dow Stucked in side ways.On 1st May after forming bearish shooting star pattern Dow had made new lower high trend at 33652. Dow after giving false breakdown below 50 DMA on 16th May Dow was not able to break above 20 DMA (red line ). Instead it made new lower low yesterday( as per today's candle stick.) As per chart Dow is stuck b/w 20 and 50 DMA in small range. MaCD is in neutral zone . When any index or stocks makes big move , it starts loosing its volatility and becomes neutral, starts trading in small range for days or weeks and again makes a big move there by increasing volatility. Dow is in same phase. Diff b/w high and low was 1200 point from 1st May till 16th May. From 16th may to 19th may Dow is trading in 600 point range. Yester day Vix was 16 and today it's 17. So slowly vix is increasing. So if Dow have to move above yesterday high for up move and above 33800 for down trend reversal and below 32900 for uptrend reversal.
TVC:DJI
by Trendz9
Nifty on verge of breakout. 1. From 1 Dec 2022 till 8 March Nifty had made lower low and lower high. 2. From 16 March to 27 March Nifty had made 3 bottom @ 16800, and reversed the trend, making higher low and higher high till 15th May. 16th may it was unable to make new high , instead made double top@ 18475 and retraced three day making lower low. On 19th may shooting star pattern was formed after 3 days corrections and confirmation pattern next day reversing lower low pattern. 3. Resistance of double top @18500 if taken away then 19000 and higher levels could be on board in few days. 4. MACD is still sell and till MACD not giving buy signals upper level could be delayed. 5. With Nifty in uptrend shorts should be avoided and long position is above 18500. 6. Nifty had retraced 0 .786% of down fall from 19000 to 16800 . Above 0.786 nifty had potential to give high of 19000 and could extent upto 1.618 @20400.
NSEIX:NIFTY1!Long
by Trendz9
DXY falls moreFED powell has been made a serious impact to the dollar index which was overbought because of the huge supply to the DXY.BUT dxy has not touched the valid area to sell .so we could see a simple upside move ment then it falls down .. By the way DXy has been retraced about 38.2 in fibo levels and also the market had closed when it was retracing so that could be higher probability to come upside and hit tha valid zone move done Overall trend may down f it breaks the trend line. GOOD AND DOLLAR LUCK
TVC:DXYShort
by rasindu2003
NDX - The upcoming testI have done a lot of research over this past week. Almost everyone is extremely bearish about stocks / assets in general. Pretty much any indicator of sentiment that you look at indicates panic. In fact, we seem to have reached a record for fear levels. In the 2008 financial crisis, there were frequent news reports about the housing slowdown by 2006. It was a well-worn issue by 2008, but most leading economists said that the housing market didn't have to be connected to the economy or stocks. I mention 2008 because many of those who are bearish see that we are correlated heavily to the 2008 pattern. If we are, then around next week we should see a fast, substantial decline. However, at this point in the cycle, the crisis was obvious. Banks were actually going bankrupt. Some had been losing billions since Q1 2008. Now, if we get a special surprise report or something, this could all change, but that is true of any market. It seems to be a foregone conclusion that we will go lower. As you can see on the chart, we have cleared the swing low from June and have held below it. There is nothing further to look at... right? The thing is that we have not had an adequate test of this downward move. The indices are down 6 days in a row. There seems to be no upside, even intraday. Let's think about what it could look like if we suddenly rallied 10% in a day or something like that. It would look like an obvious double bottom pattern on any longer-term chart, like a weekly chart. Last week's bearish pin bar doesn't have any effect on this. It would also coincide with September 2020 swing lows. On the S&P index it looks even a bit stronger because it has not fully tested the lows from several days ago. This sort of pattern could play out if we somehow get a bullish CPI reading, and we will find out in a few hours. I also want to mention that during economic slowdowns, like the 1970s "stagflation," stock prices do poorly. However, during just periods of high inflation, stock prices do well - and they do a little bit better, on average, to account for inflation. If we get some sort of stable, 4% inflation environment, then your money is certainly safe in the stock market. Right now, earnings have not come down. By this point in 2008, earnings growth was already negative year on year. Earnings growth for companies has slipped, but we are not even close to negative territory yet. Everyone is expecting further bad things. However, for anything catastrophic to happen, there has to be either: A real crisis like 2008 / 1973 Delusion like 2000 / 1929 Since everyone is so bearish about the upcoming CPI, you can expect that even a mediocre CPI could send the markets higher, which could also trigger that pattern I outlined above. A "good" (low) CPI would probably cause some enthusiasm (though this seems unlikely with today's producer price index) The point is that the chance of the bear market coming to an end here is much higher than people anticipate, and we should be able to find out in a bit. However, if we just keep going lower, this will prove that the crowd is always right and you can keep on selling. Good luck!
NASDAQ:NDX
by roxythetradermage
1