FXI - double bottom at Fibo levelBreaking out of its downtrend line, after a double bottom at the 61.8 retracement level of the Feb'16-Jan'18 advance.
Largecaps
LLY Eli Lilly: Where can we buy?This stock has been in a correction for about a year now and it looks like it is not done yet. Looking to the price history on the left we can see that we could soon hit strong support starting from $60.00 which is basically the top of a $48-60 price channel. So I would be looking to buy anywhere below $60 if we re-enter that channel (yellow box). I don't expect price to just move through this channel, just like we cannot just break through a herd of cows crossing the street while driving. In addition, if we copy the move from the swing highs to swing lows from 2015-2016 we can see that an equal move would end right around $60 as well, providing a further reason for entry.
S&P 100 - this will trigger the S&P 500 collapseS&P100 Index is the basket that contains Huge and Large Caps - almost 50% of the US Equity Market.
At first view the area between 816 and 840 is extremely important for this Index. An invalidation of this support will be critical for the S&P100 and also for the entire US Equity Market.
You should keep an eye on this one too.
