tyler_sim

tyler_sim

The last time the VIX was at these levels was during the 2008 GFC market plunge. We then saw the VIX top out / markets bottom out after the VIX printed its first red weekly candle. It looks like we just got out first red weekly candle again in the VIX after a significant market plunge, so I am hopeful here.

tyler_sim

Yellow trendline is a long term support level originating from 2008 bottom. Can see the market testing and bouncing from this level a number of times. This is the level to be watching right now. Definitely overextended to the downside in the short term thanks to this black swan event that is the Corona Virus. I think a sharp snap-back (dead cat bounce) is most...

tyler_sim

BTCUSD is possibly showing us a new Head and Shoulders Top on the Daily chart here. Yellow trendline is the neckline/support. Certainly not the cleanest Head and Shoulders so it may be nothing. But with this thesis in mind, BTC seems to be printing the second breakdown attempt below the neckline. If this pattern does see follow through to the downside then a 50%...

tyler_sim

Exxon Mobile is exhibiting a massive H&S top and is now trying to break below the neckline for the second time. Often times if a support/resistance break attempt fails, the second attempt tends to be more successful. If this Head and Shoulders top does break down, that should coincide with the price of Oil and be the start a new bear market for the non-renewable...

tyler_sim

Australia's primary equity index (ASX) is seen here through the S&P/ASX index (XJO). Here we can see that ASX is retesting its prior highs from 2007 before the great recession hit. Will be watching for a good-sized pullback soon given the vertical run that the ASX has been on this year. Will that have any impact on the U.S. or other major stock markets? Not sure,...

tyler_sim

As we come to the EOM, a pretty well defined Monthly bear flag can be seen in the Dow Jones Industrial Average. Alongside this bearish setup, the current trade war is posing a big threat to global economies. Rising interest rates, tax cuts in a growing US economy, trade war threatening growth across the globe, this is not a time to be complacent in my opinion....

tyler_sim

Looking at the weekly chart here of the Dow from 1987, compare that to my previous post of current Dow and I find they look very similar. Next few weeks could be interesting, but I am still bullish on the current market until proven otherwise.

tyler_sim

As the bulls have not been able to strongly recover from February correction yet, the current sideways action we are seeing in the Dow & the S&P suggests uncertainty. An important symmetrical triangle pattern has taken shape in the Dow amongst this current uncertainty, which becomes a very important area to watch for the near-future. A break below suggest bears...

tyler_sim

Definitely not the most obvious inverted HnS, but Gold still has taken that shape nonetheless on the Monthly timeframe. Will be on watch for a break and close above next key resistance level (red horizontal). Could see stocks and Gold appreciate hand in hand again, similar to the recovery after the financial crisis.

tyler_sim

We can see that USDJPY is currently breaking down from its right shoulder on a big monthly Head and Shoulders pattern. The green support lines and purple trend lines could be areas that this pair could fall to over the next year.

tyler_sim

This monthly chart of the 20 year US T-bonds has printed a nice H&S pattern. If price breaks below neckline TLT could get very bearish for a while, reflecting a heavy supply of T-bonds and a continued increase in demand for equities.

tyler_sim

This monthly chart of the 20 yr treasury bonds shows a H&S pattern formed. We are currently near the neckline of this head and shoulders pattern. If neckline is breached TLT could get very bearish for some time, which would reflect continued selling of the 20 yr T-bonds and a continued increase in demand for equities.

tyler_sim

We can see that SPY is nearing in on a long term ascending support->resistance level. This circled area has the potential to bring some volatility back into the markets in the near future. Combined with Ending/Beginning of year, a red month or 2 in near future would not be at all surprising to see. Fundamentally speaking, not sure what would be the catalyst here,...

tyler_sim

- What I see on the monthly chart is one big Head & Shoulders pattern on the Pound/Dollar currency pair. Speaking relative to the long term context, price recently broke below H&S pattern & is now retesting resistance area.

tyler_sim Updated 

USOIL appears to be setup for a big drop in the coming weeks / months. We could very well see 12-month lows or more if price can break through next 2 near-term supports.

tyler_sim

Few key resistance levels to break past in order to continue uptrend.. Could see some consolidation or a pullback in near future.

tyler_sim

I think we could see bulls on SPX for a few more days. Trends are still strong. I do see a potential roadblock area around 2370 according to Fib extension.

tyler_sim

Besides all averages down on the 1 hour timeframe, a descending triangle is spotted as well. Watching for that level of support at 212.50 for a hold or a break below down to 210 or lower...