#ALSI Bear flag break. Targets lower downPossible flag break target would be 42280-40600. Stick to stop losses.
Indicies
#ALSI Time for a bounce ? We rally even in bear markets. Maybe time for a cautious long position. Not calling a bottom here, just a rally. Stick to stop losses. Target 6% away from current levels. Stay safe in markets and out there.
Dow strong buy up to 21680?! Inverted hammer!One thing is true the market moves in waves. The dow has now bounced of major support at 18200 and put in an inverted hammer reversal candle formation. 21680 is the first major resistance and an obvious target. Stop just below support. RSI is now pointing upwards and daily MACDH has triggered a buy signal.
All the talk of major stimulus deal combined with unlimited QE from the fed should provide the pump.
As always take some profits off the table as we go up, watch your money management
QQQ closing on supportFairing much better than the spy/dia, the nasdaq ended the week on support (March/june 2019 lows) & 38.2% slope on long-term pitchfork. Below here the 38.2% retrace of entire financial crisis recovery & the 200 Week MA
Dow crashes through trend linePlummeting through the trend line where is the support? 50% pitchfork off entire post financial crisis climb/2015 highs
SPY pitchfork breakBroken both the lower slope and 138.2% slope (acted as resistance during 2014/2015). Next key support is the August 2016 high, which coincides with lower slope on daily pitchfork.
#DJI Dow. Hitting long term trend line.Might find some support, but I think it's inevitable that it will be tested and retested. I cannot see this long term bullish trend line will last very long.
ALSI Expected support levels lower down37500
34600
33000
Sometimes we forget how bad the fin crisis actually was. We reached a low of 18000 in that period.
CAC 40 Index - heading towards 2012 lowEurope Markets entering strong bearish momentum.
France is at the beginning of the COVID-19 Pandemic, number of infected people expect to grow exponentially in the upcoming weeks.
France, Spain, Germany following Italy's state of emergency.
We expect now a lower low of the CAC 40 Index.
At the correction move to 4600, we can start shorting the Index with the price target of 2012's low at 2800.
Europe will enter in recession if serious state economic measures are not taken.
"Two of the EU's biggest states, France and Spain, have followed Italy in announcing emergency restrictions to combat the spread of coronavirus. France, a country of 63.5 million, ordered the closure of all non-essential places used by the public from midnight (23:00 GMT)." 15 March - bbc.com
Let me know your view in the comments down below!
Median line retestThe 618 pitchfork line catching the bottom, will the median line act as resistance?
Trend line retestAfter capitulating through the trend line on thursday, the last 30 min ramp back to re-test the line on friday
Pitchfork perfectionFirst the median line catches the 1st weekly decline, and then the lower slope acts as perfect support on friday.
2 More pitchforks:
ALSI - Houston we have a problemMassive break of support, and open air below. We need to break back into 41k levels soon or even more weakness will follow.
$ES! E-Mini S&P Future. A few % more to long term trend lineThis needs to drop another 3.5% before the long term bullish trend line is reached. A lot of hot air being let out very quickly in US markets at the moment. Tax cuts, QE, rate cuts. At some point in time the chickens need to come home to roost. US markets can only function in isolation for so long.
ALSI All Share Index Getting close to some supportALSI visited this 46 000 level in 2014 and 2016. The question now is whether we'll find some support on that level. 500 pts to go.
#DIA Multi year bull trend firmly intact DIA can shed another 8-9% before it will be tested. Lots of room on the downside.
#ALSI Channel brokenMulti month down channel broken, which means we might only find support lower down. Stay safe.
