Bulls Need to clear 22 for shot at 30 Breach of 30 could open up 45 Bears Need to hold 22 for shot at 15 Breach of 15 could open up 8 Rangers Need to hold 22 Need to hold 15
Major test pending for $DIA of upper downward channel. Each leg down was followed by a .786 FIB retracement- the latest leg being no different. .50 Channel FIB acted as prior support and is a good first target for shorts. Just how much we overshot to the downside in DEC, we've likely now overshot to the upside. Stochastics started to diverge a week ago. Sitting at...
$DJI $DIA $SDOW Christmas Eve Lows On-Deck
Breakout of corrective channel now printed. Momentum a bit overbought, may see a pullback but a healthy test of orange channel low, blue channel high (breakout point) would be good to (a) shake out weak hands who rushed to buy the breakout (b) establish a foundation for the next leg up. Key upside levels to watch are 1,000 and 1150. Both logical (BRN = Big...
Straightforward price action here. Higher lows building against 1,000 key psychological level = pressure mounting toward a breakout. 100EMA still acting as decent entry Heading into weekend, volatility may be low- may see further corrective order flow -If you're trying to "day trade" via an exchange like GDAX, my recommendation is to lookup videos on youtube of...
Gap down indicative of exhaustive price action at the end of a mature bear leg. Sellers were clearly in control of the market. Base / unwinding late 2015 to now , leads to the first close above the 100 EMA since Jul 2014 (3.5 years)- this is very bullish. Couple this with a weakening dollar, and commodities gaining strength across the board and I think we have...
Very clean price action- these lines draw themselves. Consolidation leads to big moves, as one side will be caught off-guard when the break occurs. Noteworthy: 100EMA carry Yellow price action range Blue triangle consolidation pattern Stochastics (momentum) still elevated
XLF WEAKNESS / JPM SHORT AFTER iH&S RALLY Clean trendline touch. Not going to catch a bid here. Inverse Head & Shoulder typically rallies to 786 retrace- which coincides w/ upper trendline. Great short opp. Options could be used to gear up on JPM, or, buy some puts on the XLF if you can't afford it. Would be looking to buy premium here, not be a writer..IV is...
XLF WEAKNESS / BRK.B H&S TOP Straight-forward H&S top.