Madrid

Madrid Wizard

Google has found a strong resistance level at $600, and just like $AAPL, it has not found its way to continue its ascending trend. The channel is valid, we are still in a long term uptrend move, but that resistance level is giving $GOOGL a hard time. MACD shows a negative divergence, while the stock is making a multiple top pattern, MACD is showing a lower level...

Madrid Wizard

Things like The bending rumors, the iOS 8 issues, the "Back to the Future" comparison with Samsung, and the lack of innovation are not creating a good impression on consumers, so the outlook probably will not be good. $AAPL has been in an uptrend from $80 until $104. The channel is still valid. However it has had a hard time trying to break the All times high set...

Madrid Wizard

$SPY has already reached a pivot point, both at the weekly trend and the major trend. Last week a Lower High / Lower Low started a downtrend. The lower channel of the current trend is found at 177 which is likely to be reached by mid May. The so announced 10% correction will be reached when the price reaches 169 and the trend touches the lower channel. Is this...

Madrid Wizard

The uptrend from 495 has been well preserved, The gap was filled and the last gap to the upside is acting as support. Two bull flags detected and MACD is consistent with the Uptrend. If these conditions are maintained this will continue to go to the upside.

Madrid Wizard

The 1883.97 level seems to be the line in the sand. The $TICK started a downtrend since May 2013, which means there is no new corporate money entering into the market. The $DXY index has mostly a negative correlation with the $SPX, which means that when this index rises stock prices go down, not a good sign considering that this index is forming a wedge pattern...

Madrid Wizard

The 540 resistance level was broken to the upside, If held, this becomes support and next Resistance level will be at 580.

Madrid Wizard

$VIX has been consolidating with a support level of 12. The patterns indicate that it started an uptrend that may end up breaking out the triangle around the month of May. $SPX has reached its upper level channel, turning the position into a upper pivot point that could start a downtrend, either a correction or a bouncing around the 1850 level. The international...

Madrid Wizard

$ATW has been showing a consistent upper trend for a very long time. Currently it is at the lower channel support line, just bouncing from the previous low pivot point. MACD Histogram is about to cross the Zero Line, which will give a buy signal, Stoch RSI shows an increasing momentum and the price has just crossed the both the 8ma and 144ma heading to the...

Madrid Wizard

If the current leg maintains its strength the $SPY will be heading to 1900 points in the next few weeks, and probably will be touching the upper trend channel at 1925. . Currently StochRSI is above 30% heading from Oversold to Overbought level, meanwhile the MACD Histogram is about to cross the Zero Line to the positive side, which are bullish signs. What is...

Madrid Wizard

COF started doing the dreaded H&s pattern when it had a retracement @68. Both shoulders are located @73 and the head @78.50. on February 18th, it closed with an evening star at the 0.76 Fibonacci retracement level that if confirmed by lower lows and lower highs from the next bar is a bearish sign. The MACD Histogram is forming a Peak and the Stochastics are at...

Madrid Wizard

After the Gold Bear Market, Gold found a Major support @1180, where it was able to make a double bottom after bouncing from its major resistance @1425 The breakout occurs after the price broke both, the 8ma and 21ma resistances, the 8ma crosses over the 21ma, and a MACD and price positive divergence occurs, which are all bull signs. The next Resistance will be...

Madrid Wizard

In the monthly chart a channel can be spotted with an upper channel line at the peak of both bull markets (2000 and 2013) This last Bull Market was overextended and the possibilities to gain momentum to break the channel are very slim if there is not a correction. In the Stochastic RSI it can be seen the overbought status and the loss of momentum, which are bearish signs.