Indicies
#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.
#ALSI More weaknessResistance held today, and bulls will have to dig very deep to break this. Currently it looks like we might be headed down to support levels 2000 pts down.
#ALSI Longer term support is still a few hundred points away.Careful with any new long positions until then.
#ALSI Some weakness expectedAfter a fake channel break , and a 61% retracement, I expect some weakness to trickle through.
#DJI Fake channel break and retest. Weakness coming.The Dow Jones Industrial Average broke out of the channel briefly just to break back in. This is termed a fake break. It retested the breakout yesterday and failed. This is usually an indication of more weakness to come. Bottom of this channel is now the likely target. It is -4.8% away.
