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CAT

USDCNY to Fall Towards the Lower End of the Accumulation The USDCNY continues to find itself in a solid downtrend. This is illustrated by the ADX indicator, which has been threading above the 25-point benchmark since late September 2020. The ADX reached a peak around the time the price action fell to the upper boundary of the last Accumulation range at 6.4700. Afterwards, the price went on to establish a false bullish rebound. The latter materialised in a Dead Cat Bounce pattern, which typically represents a temporary break in the development of a broader downtrend. The pattern failed to strengthen above the 20-day MA (in red), which is why the USDCNY was then able to break down within the Accumulation range. That is why the strength of the underlying Markdown - an essential component of the Wyckoff Cycle - appears to be waning down, as underpinned by the ADX indicator after February 2021. This represents an early signal that the USDCNY is once again getting ready to consolidate in a new range. Before this can happen, however, the price action looks poised to fall to the Accumulation range's lower boundary at 6.2650 once again.
Short
by Trendsharks
Industrials needs a breatherXLI, the Sultan, was the ultimate DOW mover. He ruled over everyone including hedge fund managers. Tuesdays action to the upside was great but gave it up at the end of the day. Wed and Thursday continued to the downside. On Friday, the Sultan tapped the 8 day EMA and came back up but closed below previous day high. The issue with XLI is the channels are small. If this low channel is to break, look out below cause I'm thinking of a 3 point move down to 102 as support. Based on HON, FDX, and UPS, Sultan's rule might be done for this coming two weeks.
AMEX:XLIShort
by CTRLZEEE
The 'Dead Cat Bounce' ScenarioPrice has been unable to rise clearly over the 40k level. Good news is that it almost reached 40,500 today before finding resistance to drop below support at 38,500 At this stage it is important to see Higher Lows! This means that if the price drops below the 36,000 level we run the danger of seeing a further drop / in this case the rise from 30k to 40k levels will simply be classified as one (Dead-Cat-Bounce) and we could be prepared to see a further drop to 30k. Am I bearish now? No, I am still bullish but I also need to do what the chart commands. Right now we must be careful, if 36,000 is breached under we will be worried/turning into sell positions. For the time being I have reduced my sell positions and opened some hedge positions (25% sell 75% buy). Hope it helps, the FXPROFESSOR
by FX_Professor
14
BTC Turns bearish on Daily - ShortBitcoin has dropped below the 20week and 200day moving averages for the first time since April 47th, 2020. With a triple bearish divergence, a break of the pitch fork trend and floating below the 20wk MA..I cannot help, but read this as bearish in the short term until we secure a weekly close back above the 20wk MA. Not sure how much lower we could go, there is no telling. How much longer until we reverse, unsure. Is this the end of the bull run? I don't want to believe so, but you cannot deny the chart. There is aways time to return when the whales give us a bullish sign that things are reversing, but I don't see on the chart right now. I remain bullish in the LONG. This is not financial advice, It is only my opinion.
COINBASE:BTCUSDShort
by MFGroon
More Bearish Pressure on the NZDCAD The NZDCAD is about to test the strength of the ascending trend line. If it manages to break down below it on the third attempt, this would likely allow the pair to probe breaking even further down south - towards the previous swing low. Upon completing the last 1-5 Elliott Wave Pattern, the pair is currently developing a corrective ABC pattern. Notice that the AB retracement is taking the form of a Dead Cat Bounce, which confirms the bearish expectations. Moreover, the Bounce peaked below the 50-day MA, which represents yet another selling indication.
Short
by Trendsharks
3
Opportunity to Sell GBPNZD's Dead Cat Bounce The GBPNZD pair appears to be forming a new Dead Cat Bounce pattern, which typically signifies likely bearish reversals. An opportunity to sell around 1.94500 (previous swing high) may emerge, provided that the price rebounds from the 50-day MA (in green) and 100-day MA (in blue) for a second time. It did the same during the establishment of the first Dead Cat Bounce. If the price breaks down below the support at 1.92000, then the subsequent dropdown will likely test the psychologically significant support level at 1.90000. New Zealand's CPI numbers and UK's unemployment data, both scheduled for publication on Tuesday, are likely to cause heightened volatility. This could serve as the catalyst for the expected bearish reversal.
Short
by Trendsharks
$CAT Short-term swingCAT looks bullish again on the daily chart. Looks ready in the indicators as they've turned bullish yet again. Both the RSI and Stoch RSI had a crossover last week. We put in an inside day last week after being below the recent pullback's VWAP and reclaimed demand on the upside. Looking closely at price action to confirm a bullish trend to continue higher or to reverse below the highs' anchored VWAP. It is also looking like a short-term flag that could break out from.
NYSE:CATLong
by Modus777
QQQ very clear 5 waves down - The 'A' wave may be finished QQQ 5 waves down - the fib extensions measure out cleanly. Because it appears there have been 5 waves down this implies it is the A wave of an ABC correction. Now will watch for the B wave up dead cat bounce, before the c wave finishes it and could bring it lower. There is another more bearish possible count here but wont post that just yet. If this ABC is the pattern that has started it, could play out something like this. Many other tickers have this similar 5 wave structure down. Look at the perfect bounce on this monthly candle level which was the monthly open for september 2020. Volume climax. Getting into oversold areas. VIX never really spiked on this first drop... Bigger fib extension long setup (yellow and red lines) could take this to the green target at 362 as long as the red line holds. The more bearish elliott wave count would invalidate the fib setup.
NASDAQ:QQQLong
by FourC
2
TSLA very clear 5 waves down - The 'A' wave may be finished TSLA very clear 5 waves down and measurement levels are clean. 5 waves down is corrective and has 2 possible outcomes, this being the less bearish of the 2 and i lean towards this more conservative count for now. It looks like tsla has put in an A wave of an ABC correction, and its very possible the A wave down is done. Looking for a B wave bounce to start soon. Other tickers as well as the QQQ have very similar 5 waves down. Price bounced at the 50% fib of an extension fib setup. The longer term target for this fib setup is 1068 as long as 465 doesnt break. Trendline Support. Volume climax at lows. RSI and Stoch oversold. Watching for the start of the B wave up. Resistance into recent supply levels would make sense possibly up to 840.
NASDAQ:TSLALong
by FourC
CAT bullish flag rangeAs long as we are in this range CAT will continue its bullish accumulation and could go as far down as testing 100. There is strong support there which gave us a great impulse up. There are many situations this can create right now. Short pressure holds at 150...a clear expanding flat setup could be at play or bullish buttery extending The long term move is UP...lots will be waiting for that breakout of this range! But where will it be??? will we tap 100 first before trying 200?? Ya I think so... we got close but not close enough! manufacturing in the USA is ramping up. I would assume profits will come to CAT from many sources over the next 10 years.
NYSE:CAT
by AschraM