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SPX Finding Support at upper channel boundary; retest ATH?Getting higher lows and support inside the narrow wedge channel at and above 3095. This can break anytime, but it looks and feels like we could get a retest of ATH price at top of channel before it rolls over, to give a double top. RSI and volume diverge but often get the retest on low volume and relatively weak price action. Hanging on to my seat atm, watch, wait! Fridays have been bullish for months...! We do have a gap down to fill, these seem to be governed by an 'invisible hand' that requires fillage! This isn't advice; just a probably useless speculative observation. FGS be carefull out there, trade at your own risk!! GLTA!!!
TVC:SPX
by DaddySawbucks
5
TESLA Class A Bearish DivergenceGood evening ladies and gentlemen, Tesla has gapped up and is currently sitting at critical resistance with Strong Class A bearish Divergence. I believe this is a small range where one would take a short in. I have my stop placed slightly above it. But in order to maintain a safe 1:3 risk/reward ratio, I am aiming for the 50% and 61.8% as my exit targets which also happens to coincide perfectly with a gap to be filled at the 50% retrace. Join our Free Telegram Channel: t.me We are a new community growing day by day in hopes to accomplish a trading premium group by December 1st of 2019. Subscription options are $15 a week, $50 a month or $500 a year. These are extremely cheap options compared to most other premium groups! We give the best possible technical analysis with a touch of art work to it hence the name "ChArtWorks" ;). "We remove the hard work from your end and just give you the trade set ups." 50% off all Contracts for Military Veterans and Active Duty Service Members, just provide your DD214 or Military ID for proof of Status. Discharge Type is completely confidential and does not need to be shared. I am a Marine Vet myself and I will not share any information regarding Military status with anyone else.
NASDAQ:TSLAShort
by ChArtWorks_TechnicalArts
Rally built on gaps! - Expect a drop to 100% FIB levelGood morning traders, The rally in all US indices has been built on gaps. Check the Dow Jones, NASDAQ and also the SP500. There are numerous gaps which need to be filled. There is no gap which has not been filled in the history of the stock market (apart from the present ones). The SP500 has now reached the FIB 127% extension. Expect some negative press regarding the trade war next week. Bearish divergence on the RSI Please let us know your thoughts! www.forexstoreau.com
TVC:SPXShort
by ForexStoreau
In For A Big Move SomewhereAs my previous posts may have shown, i'm not really a huge fan of this rally. We truly do live in the twilight zone right now and TA is being washed out by many different factors including news, QE that's not QE, rate cuts, tweets, hopium, etc. Technically we've been on this $23 rally on declining average volume, on massive RSI bearish divergences on every TF including the monthly, and up straight out of a half completed descending triangle. Now there's nothing stating this can't keep pumping from here but it seems like the China happy talk crack pipe got a little too hot the past couple days and we've stalled out. We've left multiple gaps down below, and that mixed with the low volume we had on the way up we could see this proverbial house of cards get blown down with a pretty small gust of wind. It seems like the futures traders are the ones who have been sending us higher and it seems like they've wanted to turn this over the past day or two. With the Bollinger Bands on the hourly tightening, which generally precedes a move in either direction, the market has been working off it's 'overboughtness' the past couple days. we could definitely just be bull flagging, but those gaps are like a nagging itch in the back of the markets head that needs to be scratched. Keep that in mind. Be wary and goodluck.
AMEX:SPY
by merkd1904
1
SPX OVernight Top in Place? Lower before Higher; Correction Inc!Chart says all. Been shorting too soon as usual, but the 7-wave Triple combo is a rare and confusing pattern. Overnight ES futurez tapped the intersection of long-term TL and near-term TL in this wedge; they converged at 3056. China says they were just kidding and wont get serious with the Great Donald, such a big surprise! Expect to fill the gaps from past weeks, get support around 295 on SPY and bulls may try again for the 9th wave. A real Bearish Correction can start anytime; but seasonally Feb-March would be a likely scenario with trade and election worries looming. On Wednesday 60% of trading was selling, only 40% buying to reach new ATH; RUT and DJT diverged, Transports just got killed; these are leading indicators. Broader market is not in step with the indexes, which advance on progressively smaller volume and fewer issues with each successive bull wave. VIX is sub-13 again and in a compressing wedge, expect a big pop in volatility very soon! Play the VIX with UVXY calls if you dare! This is an idea and does not in any way constitute investment advice- trade at your own risk! GLTA!
CME_MINI:ESZ2019Short
by DaddySawbucks
37
double bottom in play if symmetrical triangle doesn't pan outthe symmetrical triangle/ bull pennant appears to be losing some steam here but if it doesn't pan out the bulls still have another chance to continue the uptrend with a double bottom in play around 8886(as shown here in purple). A retest of this zone would make a lot of sense since there is currently a gap on the CME futures chart around that zone that needs to be filled...and if price action were to retest this zone soon enough and indeed get strong bounce support there we could trigger the double bottom while still validating both the symmetrical bull pennant and the 1 day chart bull flag (in green) at the same time. We can see a nice bullish confluence here between the breakout targets of both the double bottom & the symmetrical triangle (pennant not factored in) so hopefully that increases the probability for a bullish validation.
BITFINEX:BTCUSD
by DrDovetail