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Stocks Continue Their DeclineThe S&P 500 has continued its slow and agonizing decline. We have found support at 4365, but failed to see any sort of pivot that would indicate a reversal. The Kovach OBV is gradually trending downwards. We do appear to have support at current levels, but if we break down further, we should expect support at 4327. Stocks are due for some ranging or a rally, as a corrective phase to the bear trend at worst. If we rally, 4462 and 4521 are good targets and will provide resistance.
FX:SPX500Short
by quantguy
Stocks Continue to SlideStocks keep edging down, consistently making lower lows. We did have a small rally off support from 4389, which immediately sold off to break down further. We are currently finding support at 4364, but the price action is looking very weak. The Kovach OBV has slumped, suggesting that the rout will continue. If we do see bull momentum come through, 4462 and 4521 are still profit targets, but 4389 will provide resistance. If we break down further, watch for support at 4327.
FX:SPX500Short
by quantguy
Nikkei 225 Formed V-Shaped Bottom, Target at 31,000Trend Analysis The main view of this trade idea is on the Daily Chart. The Nikkei 225 Index appears to be breaking out of its downward trend channel that formed in September 2021. The breakout appears to be from the V-shaped bottom in the Index over the last month and a half. Expectations are for a continued rally towards all-time highs, around the 31,000 price level. This view will be negated if JP225 were to decline back below 27,000. Technical Indicators The technical indicators corroborates this view. The JP225’s Supertrend is back in buy-mode after the Index crossed above 26,000. Also, JP225 is back above the Daily MA, the 1st time since early January 2022. The Awesome Oscillator is above 0 and green while the RSI is above 50. The intra-day trend following indicators of the Nikkei 225 Index also display uptrends in the 15-Min, 2-Hour and 4-Hour Time frames. Short to medium term support is seen around the 27,300-27,500 price range. Recommendation The recommendation will be to go long at market, with a stop loss at 27,000 and a target of 31,000. This produces a risk/reward ratio of 1.94. Disclaimer The views expressed are mine and do not represent the views of my employers and business partners. Persons acting on these recommendations are doing so at their own risk. These recommendations are not a solicitation to buy or to sell but are for purely discussion purposes.
OANDA:JP225USDLong
by Ceddy86
Can Stocks Hold Support?? 😳😦Stocks have retraced to support at 4462, a strong technical level which seems to be holding. We are hanging on by a thread and if we break down further, then 4440 is the next target after crossing the vacuum zone below. The Kovach OBV has slumped, suggesting momentum is nil and needs to pick up in order for us to see a breakout. If we are somehow able to break out, then 4580 is the next target which must be broken before we are able to hit higher levels.
FX:SPX500Short
by quantguy
1
Can Stocks Recover??Stocks have retraced exactly to our level at 4462. Recall that this was the exact level we predicted yesterday. Stocks edged lower as they digested hawkish Fed minutes , and an increasingly Orwellian Covid lockdown situation in China . It does appear that we may be in the final stages of a corrective impulse and might be gearing up for another breakout. Stock futures should price in this news and break out at some point. The Kovach OBV has dropped but may appear to be bottoming out. Anticipate support from 4462 and 4440. The latter is a significant level, and if broken, we will likely test lower levels in the 4400's. If we are able to break out, then 4580 and 4632 are the next targets.
FX:SPX500
by quantguy
Reverse Head & Shoulders on Industrials ETF, Target at 208Chart Pattern/Trend Analysis The main view of this trade idea is on the Daily Chart. The Vanguard Industrials ETF appears to be in a Reverse or Inverted Head & Shoulders chart pattern setup which began developing over the last couple of months. The Left Shoulder is observed around the 182.30 lows in 28th January 2022. The Head of the chart pattern setup is seen at the 176.31 low on 24th February. The Right Shoulder is spotted at the 183 support zone for the ETF. The Neckline for the chart pattern can be constructed from the lower highs of 194.82 and 191.89 respectively. The completion of the Reverse or Inverted Head & Shoulders chart pattern setup is seen around the 208 price level. A negation of this setup will be known if the ETF falls below the Neckline. Technical Indicators The technical indicators support the bullish view of this note. The ETF VIS is above its 145-SMA on the Daily Chart. Also, in mid March VIS closed above the sell zone of resistance at the 192 price level to enter a new buy zone. The ETF is still in this buy mode. The Awesome Oscillator (AO) is above 0 and green, while the RSI is over the 50 level. There was some bullish divergence for the RSI, when VIS was making lower lows at the Left Shoulder and Head of the chart pattern setup, the RSI was making higher lows. The intra-day trend following indicators of VIS also display uptrends in the 15-Min, 2-Hour and 4-Hour time frames. The near-term support zone for the ETF is observed around the 191.75 to 195.75 price range. Recommendation The recommendation will be to go long at market, with a stop loss at 192 and a target of 208. This produces a risk/reward ratio of 1.53. Disclaimer The views expressed are mine and do not represent the views of my employers and business partners. Persons acting on these recommendations are doing so at their own risk. These recommendations are not a solicitation to buy or to sell but are for purely discussion purposes.
AMEX:VISLong
by Ceddy86
Triple Bottom Setup on AAPL, Target at 205Chart Pattern/Trend Analysis The main view of this trade idea is on the Daily Chart. The Company stock Apple (AAPL) appears to have exhibited a triple bottom around the 150-155 support zone over the last 3 months. The stock had 3 declines, the first around the end of January, the second in late February and the last in mid-March. At the time of publishing the stock is testing resistance around the 180 price level. Expectations are for a rally towards the 205 price level. A negation of this view will be observed if AAPL falls back towards the support zone. There is some positive trending relative strength on AAPL on SPX as well as TLT. These occurred around March 21st. Technical Indicators The technical indicators corroborate a bullish view on the stock. There was a switch in the Supertrend indicator around the 160 resistance level with a close above. Also, AAPL had a positive crossover on its 50-day SMA. The Awesome Oscillator (AO) is above 0 and green. Finally the RSI is above 50. The intra-day trend following indicators of AAPL also display uptrends in the 15-Min, 2-Hour and 4-Hour time frames. The near-term support for the stock is observed around the 167.00 to 167.25 price range. Recommendation The recommendation will be to go long at market, with a stop loss at 160 and a target of 205. This produces a risk/reward ratio of 1.42. Disclaimer The views expressed are mine and do not represent the views of my employers and business partners. Persons acting on these recommendations are doing so at their own risk. These recommendations are not a solicitation to buy or to sell but are for purely discussion purposes.
NASDAQ:AAPLLong
by Ceddy86
2