While the week had a strong bullish theme the second test of resistance has failed for now, also there is a notable risk theme divergence between currency and stock market strength - potential double top setup. Coronavirus, market sentiment, fundemental data release - see how the market digests. While AU exposure to Asian business is higher than the US and ASX...
If the triangle breaks above 7155 on volume: bullsih, otherwise it can break down to 6915 first then 6600 - 6800.
Price is below all Ichimoku indicators and below cloud. Money flow is negative on multiple timeframes D,W,M even the smoothed average is flat at best. Ichi is starting to turn bearish on the weekly as well, only looks trending on the monthly still. Wicks on the weekly with an inside candle is usually continuation. Dashed levels are from monthly ranges. First...
Compare some major asset classes (USD, Gold, Oil, S&P500, Nasdaq, Russel, 30Y Treasury yield, Commodities, and ... BTC) over the past 20 years. Scroll the graph to make the starting point on the left a different point in time.
GBP USD trend down, no position yet, looking for a return to the upper bound of the trend
Condensing triangle range ... looks to be preparing for a violent move outside of the bounds.
Channel broke, previous support turned resistance
channel broken + in the news www.thestreet.com
Not a great entry yet, but worth watching to enter at the bottom of the channel.
The move is mostly sideways for most of the month, but we have an unfilled gap + multiple tops forming with a recent inside day.
Tech business headlines are full of FB, AAPL, GOOG and TSLA but MSFT silently beats them all both in growth and actually paying dividend which none of the others do.
Its end of earnings season, so most surprises are out of the way and the market held its ground. We might have a different stock value composition, but nothing broke overall. There still looks to be upward power left in this move. The only movers and shakers in the immediate term are global/macro and government announcements. The 1-2% typical central bank interest...
Bullish, no position. Entry opportunity is probably on either A) the re-test of the top wedge or Kumo or B) on a newly established uptrend line. I would not jump buying on a fresh high so if the bullish move remains strong. There might be no good entry until it settles, this is a very likely scenario given the Strong on High Relative Volume move (scenario B)....