Last time we broke below then above the 200DMA, it never took out the previous high. We just went above the 200DMA again and didn't take out the previous high. If we break over 11K We will go to a new high for 2019 I believe. If we break back below the 200DMA (Currently support) we probably head back down to the 6000s.
My view on IWM is very ambivalent.
The bad - I learned over the years that small cap r leading the way to the big caps.
IWM used to make new highs or lows b4 the spy.
These days we c the spy makes new highs and IWM is way far from any previous highs.
The good- In technical prospective i can identify an inverted head & shoulder Pattern and
a golden cross of...
Now that the indexes have broken out of the last major down channel (drawn in blue), the 200 day moving average (in purple) is the next major resistance. The S&P 500 has failed to hold above the 200 DMA three times since Oct 2018. Holding above the 200 DMA is the real test of being in a bull market or not--bull markets hold over the 200 DMA for extended periods...
The euro is starting to move higher against the US dollar in early Thursday trade, ahead of the release of key eurozone PMI manufacturing data later this morning. Weaker than expected PMI data from the French and German economies will likely reverse the EURUSD pairs recent recovery, with the 1.1335 level the key support level to watch. The 1.1410 level is the...
The British pound has surged to its highest trading level against the US dollar since November 2018, after bulls easily broke through the 1.3030 resistance barrier on Wednesday. The GBPUSD pair now trades above its 200-day moving average and faces a key challenge from the 1.3095 resistance level. If bulls can move price above the 1.3095 level, further upside...
Bitcoin is once again testing towards the $3,660 resistance level, after sellers failed to capitalize on the early week drop below the key $3,485 support level. The broader cryptocurrency market enjoyed a decent rally on Wednesday, although the BTCUSD pair added only marginal gains on the day. A break of the $3,300 to $3,960 price range is needed before the next...
Gold wants higher but bears are giving a good fight here. The minor trend is down and 0.236 of fib extension of the last leg down is clearly showing signs of resistance around the level of 1310. This long set up is essentially a counter trend setup which is not recommended usually but given the current circumstance, it might work out fine. Failing around this...
As we can see, the 50, 100, and 200 day moving averages were solid support points throughout 2017. Once Bitcoin touches the 200 day moving average (at a rate of less than once per year) historically it rebounds very, very strongly.
Edit: Made a typo. The orange text description should say "50 day moving average". Sorry!
This charts also shows the 200 day moving average of bitcoin so you can use: BITCOIN MAYER MULTIPLE to know if it’s a good moment to buy. The indicator says pretty much that is good to buy below 2.4X, the lower the better as an investor. More info about this here: www.theinvestorspodcast.com
We got a lovely rejection wick off the daily on Friday and it beautifully bounced off the 200dma and a falling trend line. Great bit of confluence. Stops above that wick and shoot for a 50% retrace on that type of move the 50 back gives us a RR ratio of 3.5-1. Might even get down to previous lows if wanted to stretch for longer targets but don't be greedy.
On March 24, 2017 the General Motors Company (GM), crossed above its 150 day moving average. Historically this has occurred 20 times since 2010. When this happens, the stock gains a minimum of 0.475%, has a median gain of 5.466% and maximum gain of 16.159% over the next 24 trading days. On March 23, 2017, the stock broke below the 150 moving average and broke...
On March 24, 2017 the United States Oil Fund USO, 200 daily moving average crossed below the 250 daily moving average. Historically this has occurred 10 times. When this happens, the ETF drops a minimum of 0.151%, has a median drop of 2.214% and maximum drop of 10.623% over the next 10 trading days. This last occurred December 8, 2014 and the fund dropped 67.92%...
On March 24, 2017 the United States Steel (X), crossed below its 100 day moving average. Historically this has occurred 152 times. When this happens, the stock does not always continue to drop. It has a median drop of 5.249% and maximum drop of 31.518% over the next 10 trading days. This last occurred twice in October 2016 and the stock dropped 12% over the...
Definitely bearish feelings here, $DXY has found support the past week and along with the small recent USD rally we find $USO has run up against the 200DMA.
The 10DMA (drawn in blue) has provided support in the past, so waiting for a break down there would be wise IMHO, although I suspect we're about to roll out the red carpet soon.
The previous oil chart I did...
Check chart for notes, not much to say besides bearish longer term, could see a bounce up to around $2 soon as OIL seems to be finding support.
Could easily find a 50% swing up before meeting the major resistance. But would set tight stops as the channel is bearish and the yellow trend looks like it could slap it back down.
RSI looks to be diverging as well...
