UnknownUnicorn121770
This is update I of RSI perspective for the timeframes Weekly and Monthly. I try not to attach too much value to these types of views, as they say little about price and divergence between RSI and price can go on for a long time. Monthly: Monthly has broken the 2009 support and went a lot deeper than i (and probably many others) initially expected. RSI on this...
Potential targets when price breaks out of the flag
I'm thinking this sell off needs a double V confirmation before it heads off higher. Time will tell. I'm currently on the sideline playing only small scalps. No big entries at the moment.
My view on what i will try to find on weekly, while manoeuvring through this blow off phase. 1. Denial: "We're still in a bull market!" 2. Bull trap: "BTD!" 3. Fear: "Hmm macro a lot worse, also Trump for president..., should i... what if... uhhh... uhhh... aaaaaah...!!!" 4. Capitulation: "NOOO! Bear market, time to sell. Or do i just hold and sit this out?" 5....
I saw an interesting chart a while back on TV from a user whose name i can't remember anymore. The user showed that when a week closes near or at the Low Of Week (LOW) it has a high probability of reversing the next week. Not a general rule, but i think it was ES/SPY specific. I'm not taking nor holding any position with SPY. I also don't see it making a new ATH...
Price movement and potential in %. +5.45% : Still up for 2015. For how long? :) -20% : Beware of the bear market. -11.7% : Downside sell off so far. -5.55% : Important trend line encounter. I have entered a 10% long call position at channel support to follow my trading system, but the channel support has completely failed and price is on it's way to test the...
This is my RSI perspective for the timeframes Weekly and Monthly. I try not to attach too much value to these types of views, as they say little about price and divergence between RSI and price can go on for a long time. Monthly: Looking at monthly RSI i see a H&S where the right shoulder is confirmed and RSI is close to hitting the 2009 rising trend support. I...
Bearish short term channel support holding after yesterday's sell off. If GER30 manages to close around 11190, i think testing 11600 the coming days will have a high probability.
I'm seeing a nice long position for UMC developing. Technicals: - RSI in pennant in the oversold region. - Price forming a falling wedge, falling into the support of the inverted cup long term support. T1 Jun15-Aug15: 2.38 T2 Jun15-Dec15: 2.60
What's that PG? Not sure what you're trying to say. Hmmm.
Note to self: this will be so awkward to look back at.
2 months sideways ahead? Rinse repeat. Range bound with a top of 2150 at most.
This is my view for June 2015. The most important line is the red line below the bullish channel (double line, least steep bullish channel). If ger30 closes below this line, i would see it as the invalidation of the drawn scenario.
On Friday May the 15th SPY-VIX closed at a new ATH of 200.06! *pop says the cork* If you believe that VIX/VXX leads SPY, then a new ATH on SPY will be a fact in the week of Monday May the 18th. Congratulations :)
This chart shows 8 SPY sectors from the highest to the lowest weight*. You can copy/use this chart by going to the Share icon on the chart (below the like button) and click the Make it mine button on the popup. Enjoy! * Taken from www.sectorspdr.com on May 9th, 2015. It's missing XLU (2.75%), because TV has a limit of 8 charts.
A nice blow-off top as a fake out on EXPE should make it's way back to the rising wedge support. Fake out seems confirmed by negative divergence on RSI and OBV. T1 Jun15-Jul15: 92.74 T2 Jun15-Aug15: 88.57
Yesterday's turn around was quite intense and rather unexpected. Presumably led by bad US macro that even had the EURUSD and gold rallying. So, there are some mixed signals at the moment, hence the neutral view. This could still make an inverse h&s, but the argument for it is weakened after the quick sell off. It seems both bears and bulls are equally ready to...