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GOVT ETF: Bullish Reversal on the Horizon?The GOVT ETF, representing U.S. Treasury Bonds, shows signs of a potential bullish reversal, according to our proprietary QuantEdge Momentum System. Key Indicators: Z-Score: The Z-Score has surged to 1.60, signaling an overextension to the downside in the past months. This indicates that the recent downward momentum might be exhausted, leading to a possible trend reversal. Z-Score of RSI: The Z-Score of RSI at 1.72 shows a significant bullish momentum shift. This suggests that the asset might be gaining strength, with buyers stepping in to push prices higher. The crossing above 0 confirms that bullish sentiment is currently prevailing. Cumulative Volume Delta (CVD): The CVD indicator reflects a strong buying pressure, as demonstrated by the marked shift from deep negative territory (-451,481,504) towards a less pronounced negative reading. This shift suggests that the selling pressure has weakened, and buyers are beginning to dominate the market. Price Action: The price has broken above the green momentum cloud, signaling a potential shift from a downtrend to an uptrend. Given the alignment of other indicators, this could be the beginning of a bullish phase for GOVT. Projection: Over the next quarter, GOVT is likely to experience a bullish correction, driven by strong buying momentum. The ETF could target resistance levels in the $25.00-$26.00 range if the current momentum continues. The Z-Score and RSI suggest that the upside could be substantial as the ETF looks to recover from recent losses. However, caution is warranted if the Z-Score or RSI starts to diverge negatively, as it could indicate the potential for a correction or consolidation before resuming the uptrend. Monitoring these indicators will be crucial to confirm the strength of the reversal. Based on the proprietary QuantEdge Momentum System, GOVT appears poised for a bullish quarter. Investors looking to capitalize on U.S. Treasury Bonds might find this an opportune time to consider GOVT as a potential buy.
CBOE:GOVTLong
by LordGiorgioCapital
SPTM Prepare for Consolidation or Pullback in the Coming QuarterThe SPDR Portfolio S&P 1500 Composite Stock Market ETF (SPTM) has shown impressive performance over the past months, driven by a general bullish market sentiment. However, as we approach the next quarter, key indicators from the QuantEdge Momentum System suggest that the ETF might face significant resistance, leading to a potential period of consolidation or even a pullback. Key Technical Insights: Z-Score Analysis: The Z-Score currently stands at 0.7583, indicating that the price of SPTM is trading above its historical mean. However, this value is nearing a threshold where the momentum might start to slow down. This suggests that while the ETF has experienced an uptrend, the room for further gains could be limited unless there is a strong bullish breakout. Z-Score of RSI: The Z-Score of RSI is in the negative territory (-0.9841), which is a divergence from the positive price Z-Score. This indicates that the momentum behind the uptrend is weakening. RSI being below its average typically signals that buying pressure is diminishing, which could result in a stagnation or decline in price. Cumulative Volume Delta (CVD): The CVD reflects a higher level of selling pressure, with cumulative volume favoring sellers. This is another warning sign that the upward momentum might be unsustainable in the short term. Projection for the Next Quarter: Given the mixed signals from the proprietary QuantEdge Momentum System, it is likely that SPTM could encounter resistance near current levels. Traders should be cautious as the ETF might enter a consolidation phase or experience a pullback during the next quarter. The weakening RSI momentum and increasing selling volume suggest that upside potential is limited unless there is a significant catalyst to drive prices higher. For traders, this is a crucial moment to assess risk and possibly secure gains from the previous uptrend. Those looking to enter new positions may want to wait for a clearer breakout signal or consider short-term trades based on confirmed support levels. Stay vigilant and adjust your strategies according to the evolving market conditions. The QuantEdge Momentum System will be your guide to navigate the upcoming volatility in SPTM.
AMEX:SPTM
by LordGiorgioCapital
1
Elliott Wave Intraday Analysis: FTSE should Continue HigherShort Term Elliott Wave in FTSE suggests that the index has completed a bearish sequence from 5.15.2024 high. The decline made a zig zag Elliott Wave structure. Down from 5.15.2024 high, wave A ended at 8106.79 low. Rally in wave B ended at 8405.24 high with internal subdivision as a expanded flat structure. Up from wave A, wave ((a)) ended at 8279.75 and wave ((b)) ended at 8056.01. Wave ((c)) higher ended at 8405.24 which completed wave B in higher degree. Then, FTSE turned lower in wave C with internal subdivision as an impulse structure. Down from wave B, wave ((i)) ended at 8158.03 low and wave ((ii)) ended slighly up at 8174.71 high. Wave ((iii)) lower ended at 7972.35 and wave ((iv)) ended at 8024.83 high. Final leg wave ((v)) ended at 7915.94 low which completed wave C and (4) in higher degree. The current rally is in progress expecting to continue higher as wave (5). Near term, we are calling an impulse structure as wave ((i)) from wave (4) low. This wave ((i)) should be completed very soon and we are expecting a retracement in 3, 7 or 11 swings as wave ((ii)) before resuming the rally. The view is valid as price action remains above 7915.94 low.
FTSE:UKX
by Elliottwave-Forecast
EURUSD 11/8/24This week in EUR/USD, we have liquidity placed above our highs in a bullish range. Last week, we played bearish within price action, ultimately putting in these highs to form liquidity. Based on this, we could run the liquidity coming into this week, or we may drop further into the range. We have met the 50% level of the range, so there is sufficient liquidity behind price to shift it higher. Now, of course, we have some fundamentals coming up this week, so price may shift accordingly. Overall, we are looking for price action to run the highs as we remain bullish, with fundamentals favoring dollar weakness. This leads us to believe that this scenario could play out. There is a hotspot within this liquidity, marked by our golden line, where price may react to sell back for a deeper retrace or blast through and take the high. We have a very clear area of demand at the base of our range. If we drop lower, we can look for that area to react. The main point is to follow what price is actually showing you, rather than what we want to see. Trade safe and follow your plan.
by PipSurfingSociety
US500, NASDAQ at KEY level The price is currently at a key level, testing both support and the trendline. 1. Bearish Scenario (Breakdown): - If the price breaks below the support level, it may indicate the beginning of an ABC correction in the Elliott Wave pattern. - Action: Open a SHORT position with a smaller lot size. - If the price then retests the broken support (now acting as resistance), you should open another SHORT position with a larger lot size. - Target Levels: The price could initially drop to 5300 and potentially further to 4930. 2. Bullish Scenario (Support Holds): - If the support holds and you observe bullish price action (e.g., long needles at the bottom of the candles), open a LONG position. - Action: If the price forms a higher high and a higher low, or breaks above the resistance at 5560 and retests it, you can add to your LONG position. Fundamental: Recently, a technology crisis impacted Microsoft and several other companies' stocks. However, it appears that they have managed the situation effectively, suggesting a potential price increase. Despite this, the Volatility Index (VIX) keeps increasing, indicating persistent fear among investors. As a result, there is an equal 50/50 chance of prices moving either up or down.
PEPPERSTONE:US500
by tselmegFOREX
US500 - Decision Zone!Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. US500 has been overall bullish trading within the rising channel marked in red. This week, US500 is in a correction phase and it is currently retesting the lower red trendline. 📈As long as the last low marked in red holds, we expect a bullish continuation. 📉 In parallel, if the last low in red is broken downward, a deeper correction towards the lower orange trendline and zone would be expected. 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
CAPITALCOM:US500
by TheSignalyst
1
Bearish reversal?US Dollar Index (DXY) is rising towards the pivot which acts as a pullback resistance and could reverse to the 1st support. Pivot: 104.51 1st Support: 104.03 1st Resistance: 104.80 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
TVC:DXYShort
by ICmarkets
Last Time This Happened, Bitcoin Rose Over 60%In a previous post about the weekly chart, I touched upon how we were headed toward 50 on the RSI. From there, it had the potential to range between 50 and 45 (within that yellow box), and it looks like we hit the 49 mark and then pivoted. The trend reversal happened once RSI was within fair-market value since it indicates over-bought and over-sold activity. The stochastic RSI bottomed and crossed upward, meaning we have momentum back in the market. The big question now is, how much will price action be impacted by an upward cross in RSI? We can see the possibility of the upward cross coming soon. This is definitely something we want to keep our eyes on in the coming weeks - especially since we are just coming out of a stochastic RSI bottom with momentum coming back into the market. For craps and giggles, the last time we had an upward cross in RSI on the weekly chart after bouncing back from around 51.75 (aka fair-market value), Bitcoin's price rose 61.5%, from $30,364 to $49,048 (at an RSI of around 86). I'm using that as the primary example as the last upward cross we had was from an RSI of around 80, however Bitcoin still went on a tear, rising almost 52% from $48,601 to $73,794 (where RSI peaked at 92). It was the tail end of October 2023 when Bitcoin's price took off once the RSI crossed around the 51.75 mark (aka fair-market value - see why this is important?), and peaked in March 2024, ultimately rising 143%. To say it may be an interesting couple of weeks to months with the potential price action is an understatement.
BITSTAMP:BTCUSD
by MicheLee
NYSE Composite - Price Action Consolidated In A Triangle Pattern(1) The price was in an upward trend before reaching the 17,500 level. (2) Following that, the price began to decrease, experiencing a drop of nearly 21%. (3) After finding support near the 13,300 level, the price rose and broke through the neckline of the Inverted Head & Shoulder pattern. (4) Subsequently, the price increased and is currently consolidating within a triangle pattern. (5) If the price successfully breaks out, the potential resistance level will be around 19,650.
NYSE:NYA
by NaranjCapital