Intermarket analysis of Oil ETF relative to SPX. This graph works because oil moves based on inflation, economy, commodities etc. Some of these spots were almost "risk free" (until proven otherwise). Meaning 100% - until something changes. Where are we now? USO needs to find support - and then we see.
As you can see in this chart, there is a very interesting relationship between the US100/US500 ratio and Bitcoin. Before discussing the possible outcomes of this chart, let's gain a better perspective on this intermarket relationship chart. On one hand, we have the US100, which is a technology index divided by the US500, representing the largest US companies....
As it can be seen in the chart we have a high positive correlation between gold prices and Barrick Gold Corporation as they move together. Previously as stock prices formed a new high gold price failed to do so and this represents a bearish divergence between prices and caused stock price to move lower sharply while gold price remained roughly around the prices...
Dollar is bearish. It looks a lot like the dollar is leaving its bigger uptrend its moving in since early this year. I highlited the potential trend lines and significant price marks i will keep an eye on in this scenario. This downbreak move would come along with a bullish EUR and bullish stocks.
Note: Funcharts are interesting charts I have found that offer a potentially unique perspective on a stock. Sometimes I’ll throw something out there that you might find controversial or wrong headed. If that’s the case your 2 cents worth is most welcome. South32 (S32) on the ASX has been led by Gold (GLD) by 139 days through history. Go ahead and check out the...
The below ratios provide a window into current market drivers. Inherent clues can be derived to provide actionable plans as price action develops. HAPPY TRADING!
Intermarket spread ZSH19-ZWH19 between soybeans and wheat is extremely cheap. Moreover, oversold soybeans and overbought wheat make perfect conditions for this spread.
Oil is one of the most popular bull markets is oil today. There are very huge opened long positions. But today I am going to sell this commodity. The reason behind is closing below 2 important trend lines , as I show it on the graph. As a trader, I should follow my system and it says me today to short oil. In the circumstances of crazy equity markets, huge sell...
Price fell sharply last two weeks and we are now expecting a retracement to the upside with the following confluences - 1) A completed higher degree WXY 2) A completed smaller degree WXY 3) A completed Bat pattern 4) A RSI divergence formed All these give us the confluences that we might see a decent pull back to the upside for AUDNZD. Quiz: With this...
Hey guys, We expect the market to make one leg lower to around 2.445, BUT only when the market stays below the high 2.70. When this level breaks we will be looking at a move higher to around at 2.776. Our intermarket indication supports our idea of facing south. Critical zone will be the lower range of 2.58! Around 2.444 will be a good buying chance IF market...
Hey guys, just a short trading setup. We took a long position at around 1.3325 with a stop loss at around 1.33033 and initial target of 1.3387. This trade is just a range play. BUT why the position we haven taken is because of structure and Intermarket reasons, so we didn't just bought it randomly there is a strategy and structure technique behind it. For more...
Hello Traders, Today we will share with you guys the FX:EURGBP as it seems to show soon further depreciation towards lower trendline around 0.845-0.85. It currently seems that we see more outflow of capital and profit taking from big investors around the current resistance level. As we believe a further appreciation of the GBP before turning south again in...
Hello Traders, Today we will share with you guys the FX_IDC:GBPUSD as it seems to show soon further depreciation towards 1.21. However, it currently seems that we see more inflow of captial as the USD as a whole lost some strengths after Yellen speech on Friday. Market will very closely watch next weeks NFP on Friday next week as key driver for March rate...
The US-Dollar Index is in an intact impulsive long trend. After the weekly break of the sideways range a pull back towards the break out level or in other words around 100-100.5 zone was initiated.The possible upside breakout of the 1 ½ - year sideways range also underlines the current situation within the US-Dollar. After the Federal Reserve stopped QE 3 in...
The normalised chart of Copper (white) vs CAT (orange) would indicate a CAT short is a reasonable equity trade here...
Another chart to keep in mind given skew has decoupled from the VIX!
We outlined in the previous post stating that there is scope of corrective moves in gold that not happened as expected. In today's move, the price action for us looks like it is overshooting, and our analyses suggest that gold is likely to correct. Gold hits its key resistance levels at 1195 area (near 1200 handle). Trade ideas: Entry at market price S/L:...