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Bitcoin is enticing bearsI am not impressed with the pennant breakout confirmed on the daily chart on Thursday. While it is a bullish continuation setup, the shape of the Thursday's candle, which confirmed the breakout, is indicative of buyer fatigue. Its the long upper shadow that takes the shine off the breakout. Also, rallies into or above $7,000 continue to be sold into. The cryptocurrency has failed at least 4-5 times to penetrate or keep gains above $7,000. All in all, its no longer a constructive chart and suggests scope for a fresh drop. Prices may drop to $6,138, under which a major support is seen near $5,850. I would consider buying once I see a convincing candle – one with small or no upper shadow – on the hourly chart or a green marubozu candle on the 15-min chart, marking a breakout above $7,000.
BITSTAMP:BTCUSDShort
by OmiFX8
1
SPY - Daily Chart UpdateThe markets saw an automatic rally bounce off the lows from all the panic selling caused by the COVID-19 issues impacting the world & shutting down the economy. I was targeting a bullish bounce of around 50% which would have taken price to the $265 range. The highs hit $262.80 before Friday's inside day candle. Japanese candlestick analysis would label Friday's candle as a high-wave candle which is a sign of indecision in the market, the price can go either way from here. If you take Friday's candle within the context of Thursday's price action then it would be considered a harami which is a reversal signal. The blue line denotes the 20-EMA line which may be providing resistance as well. At this point, I am looking to see where the price moves from here. I am expecting a further breakdown in price as the market re-tests its recent lows. My initial price target is the previous gap price of the $229.60 level. After that, I am targeting the prior low of $218.26. This expectation gets negated if we can see the price continue rising above the 50% Fibonacci level & the 20-EMA line.
AMEX:SPYShort
by Chartimistic
4
BTCUSD - Uncertain situationWell, I am really not sure what is going to happen the next days. The BTC indicators I am currently seeing are: - Fear and Greed Indicator is very low and 5-10 levels normally is a good buying opportunity - Bitcoin on Google Trends is rising very fast, which could potentially mean a rising interest - If we keep that level, this could be the biggest triangle and continuation I have ever seen. For that reason, I will keep my leveraged long open, just in case we skyrocket in seconds. - Having lost important EMAs, we could as well be in a bigger bearish channel or something similar, that's why I'm saying that I really don't know which side to take position on. - The 1h chart is contracting, which let's me believe, that there is going to be some action very very soon. Overall market signals that I see: - Not just stock markets have lost value, so did Gold. Which leads me to think that an economic crisis is on it's way. These would not end well for Bitcoin either. - The inverted yield curve (cross from 2 year and 10 year treasury bonds) triggered already, which historically has always been the start of a recession. - I expect certain markets such as DJI to recover a bit (maybe to 23500) and this could push us back up for a while. On the other hand, I don't believe in it too much, because COVID-19 is not yet over and this negates the pull-back IMO. - The altcoin market has the potential to drop to 14B, which would be another 65% drop or around 40B of lost money. If COVID-19 is not rapidly gone from mother earth or at least made treatable, markets are going to bleed more and more till the day we manage it. It is probably better to stay on the sideline with bigger positions.
BITMEX:BTCUSD.P
by Thierry88
DOWJONES LONGThe Three Pronged Approach to Kick-Start The Ecomomy Welp... I called the dump.... which isnt hard when everyone else was saying it... and now I wanna call the DOWS Legendary pump I expect to happen tomorrow. This may be a V recovery... of course we have the check market structure for weakening at key resistance levels.. and to be honest the monthly chart looks terrifying but the talking heads on TV are doing a good job of blowing hot air into the asshole of this market. The crazy part is that I have my reservations about this Coronavirus scare, but we have to only think of the possible outcomes that come from it instead of its cause or legitimacy. Firstly... What can we expect moving forward... Printing... LOTS of it. Im not going to go into that and beat that dead horse but I have to say. The last time we had a bail out this big it took 26 months to print the amount we just did OVER THE WEEKEND... Can anyone else hear a MASSIVE sucking sound coming out of the financial markets? Second.. we need to look at what else they intend to do financially.. They are not only considering bailing out Wall Street again. They are also going to be bailing out the people which is going to be an insane amount of money if they wish to do so with almost every adult in the USA for the next 6-8 months. Its almost as though they are trying to get everyone whipped up into a frenzy to justify universal basic income... I believe this is going to also create consumption right as companies were supposed to seize up. I also expect there to be some pretty draconian laws that will be reminiscent of the "Patriot Act" after 911. As the old saying goes; problem, reaction, solution.. What did this virus cause? just a jump start the economy with windfall profits from panic buying at stores right when they need it most... The Markets were and still are already over extended. This is going to create a large number of people to eye ball the situation right when the Fed is preparing to bail out mission critical companies... Remember... Right now it is IMPORTANT for them to show cash flow on their balance sheets and look strong when others are weak. Amazon and Kroger have gone on a hiring spree in order to create the illusion of healthy growth when its only induced by the stimulus as well as the Corona shopping spree... victory short lived in my opinion but they NEED to regain the markets confidence. After this weekend the Fed is out of bullets and I dont think they are pulling any stops on this one. Finally lets talk what is likely to happen from here.. For starters there is going to be a MASSIVE jump in price action across the board. Its going to cause the Mainstream media to chew it up and mouth feed it to the 2 boomer viewers they have left and not to mention those damn hospitals, airports and Government Institutions that give them their false legitimacy. This is going to create a sense of normalcy in comparison to what we have been experiencing since the start of it all. When stocks pump HARD tomorrow people arent going to believe it.. Expect a 15-20% pop tomorrow in price action across the board... Im also talking about crypo of course... So I bet this is the part where everyone lives happily ever after right? Wrong! For starters this isnt going to be a recovery like last time... This is going to be either a dead cat bounce or they plan on completely trashing the dollar all together which makes companies and by extension, their stocks skyrocket in value. Everything will skyrocket. Stocks, crypto, gold and silver... even food, fuel and water. No will will see this coming. Next they will ban cash stating that the virus is carried through paper money.. Thus forcing us to use the very banks that took their interest rates down to zero. Expect them to nickle and dime you trying to recover the profits from the negative rates I expect to start soon.. Oh yeah, and I forgot to mention... You know how you cant take out your money out of the banks because muh virus? welp... the banks will start charging you a negative interest rate on your deposits and your money will become worthless faster than you can get rid of it. They are also going to have a monopoly on monetary transactions for the most part. From the ashes I believe that another solution will be offered... The IMFs SDR or SDX in tandem with XRP... yes I said it... XRP is going be the mechanism for global payment remittances between banks across the globe replacing the dollar. Bold claim I know.. But you cant ignore what Brad Garlinghouse has been doing lately. All is not lost though my friends. There will be a two tiered system.. The first will be their solution system.. The other will be crypto which I expect to be massively volatile and mostly a vehicle for speculation in the future and a store of value in BTCs case. Of course there are others that will emerge from the ashes and far too many for me to list here, but there will be good times ahead of those that paid heed to this warning... Its time to buy... its been time to buy crypt for a long time and now its time to BUY STOCKS NOW!!!! God Speed Gents, Mr. Lucifer
TVC:DJILong
by MrLucifer7
1
DOW reaching a technical level for an oversold bounce..I dont know if history will repeat this time around but what i have noticed over the last 6 months is that every-time the DOW US30 has made a move below the 200 day ma (green line), it tends to be followed by a reversal higher above the 200dma in the succeeding days... If this bounce does take place the obvious target would be 28170 to take profit - generally the market has bounced between 1000-1200 points from the lows of the candle under the 200dma.
ULong
by MarcoOlevano
Prep the Tourniquets On a technical level: What I believe we are experiencing is a dead cat bounce. Market price action is showing signs of still being alive after a slaughter. In this case, Prices will tend to retract up 50-60% of the losses (for roughly 5-10 days) before continuing another drop. This leads a lot of ill advised traders and investors to get suckered by this move. Albeit, I do believe it’s a good time to BUY investments that are for the long-term. Unfortunately there are only a hand full of long-term stocks that are offering value right now. Mainly Communication, Utility, and Real Estate stocks. Fundamental: The Coronavirus is holding the smoking gun. The disease can have a damaging economic effect, but in my honest opinion I see it as an alibi... for now. Currently it’s pulling the curtains off some deep-rooted issues within our financial system. Specifically with the amount of excess cash flows within the global markets due to money printing. And secondly, the Federal reserve manipulating interest rates creating exorbitant price movements within the financial system with baseless data to support the actions. The market is moving predominantly off news headlines and computer algorithms- this to me is a sure tell sign of late cyclical activity. As we see the built up pressure start to relieve I urge all to “bare steerageway.” 🙃
SP:SPXShort
by gardua24
SPY levels for a reversalStill looking at more of drop in the market until we get a reversal back to the bullish side. reasons: 1. the real economic impacts that the coronavirus is having. i think the US and Canada will be fine overall but i think the virus is going o further shut down Europe and Asia until the summer. 2. wallstreet and media folks have been pushing for a recession and bear market for the last few years 3. markets were extremely overbought and at all time highs 4. looking for price to bottom and reverse around the 200 day MA which coincides with support zone 1 on my chart ($300-305) 5. if that level fails then I'm looking at the Aud-sept 2019 lows as support level 2 which is also the 100% retacement of the Aug-sept low to the all time highs. wishing everyone good trades!!!! Its a war out there in those candlesticks!!!!
AMEX:SPYShort
by BrianPenrod
Blackrock showing a correctionIt seems that there is some fear in the markets. That is why many investors choose to be in a selling possition. After seeing the RSI and stochastic it is quite clear that the price is touching "oversold" values. Needless to say that there is a kind of trend in the indicators showing that the price will decrease a little bit more. In addition, considering the complex scenario of the current market, I think that one possible buy zone will be the first resistence line. But if we see the pattern of the stock it seems to decrease until 400 aproximately. Thanks for reading guys!
NYSE:BLK
by lukdesimone
Apple’s panic, German disappoint, inflation dataThe main event of yesterday, which set the pace for the dynamics of the main financial markets, was Apple's announcement that the company was unlikely to be able to achieve its sales forecasts. The reason is, of course, the coronavirus epidemic in China. The news, in general, is obvious, but since the madness of total optimism has long owned the markets for a long time, investors did not want to face facts to the last - China's problems are problems of the whole world. And Apple essentially stated this. Against this background, gold rose above 1600. However, we recommend buying gold for a long time and persistently and so far do not see any reason to change the vector. We note that the yen continues to remain in place. Although given the disastrous GDP data that we talked about yesterday, this is not strange. Nevertheless, sales of the USDJPY pair continue to be a promising deal, at least until it is below 110.20. The epidemic, meanwhile, continues. According to the results of yesterday, +1900 newly diagnosed and about 100 deaths. So, although the growth rate of sick and dead is decreasing, it is still high enough to restrain China in its attempts to return to a full recovery in economic activity. Another unpleasant news yesterday was the publication of the ZEW expectations index for Germany. The data came out extremely depressing: +8.7 points with a forecast of +21.5 points and a January value of +26.7 points. The largest economy in the Eurozone is rapidly following Japan towards a recession. For the euro, this was another blow that sent the single European currency to the lowest mark since 2017. In general, the euro situation looks worse than ever, so we continue to sell EURUSD, EURGBP and EURJPY pairs. There is still much to fall. Data on the labor market in the UK came out pretty good yesterday: employment was higher than expected (+180,000 with a forecast of +148,000). In addition, the pound was supported by the new Minister of Finance of the United Kingdom, Rishi Sunak, who announced that he would submit the budget, as planned on March 11. Recall that the markets expect him to expand government spending and investment. Overall, pound purchases remain one of our favorite trading ideas. But when buying a pound, do not forget about the key risk for it - news from the fronts of trade negotiations between the EU and the UK. Today, in terms of macroeconomic statistics, it will be interesting for inflation data for a number of countries, including the UK, the USA and Canada. Markets are now extremely vulnerable to inflation statistics, as rising inflation will be a signal for central banks to curtail ultra-soft policies.
Long
by Trade24Fx
Global Emerging Markets - Macro Outlook & CommentaryTraders & Investors, We anticipate emerging markets to be vulnerable to a macro slowdown following the virus outbreak in China. Emerging Markets have a high dependency on Chinese demand and consumption which often creates a very strong correlation between domestic activity/trade and the performance of these markets. The effects of the virus are prominent with analyst expectations of substantial drops in Chinese Q1 GDP, dovish positioning of the Monetary Authority of Singapore, sell off in Crude/Brent, gaps lower in Asian Equities and flows into risk-off assets. Following the euphoric bull run in 17'/18' and pullback into fair value, we see price correcting for a move lower into our buyside floor and macro swing targets of 34.0x. We have added sellside exposure across both our macro and directional portfolios ------------------------- We look forward to continuing to provide market leading analysis to traders & investors alike across the TradingView platform. Like, subscribe and leave your comments below! Until next time, Portier Capital Macro Strategy & Portfolio Management
AMEX:EEMShort
by Portier
The markets illogicality the and trading anomaliesTuesday was another recovery day in the financial markets. In general, all this is rather strange and illogical. Markets first fall on the news of coronavirus and the epidemic. Logically and explainable, we will not go into details, and once again build logical chains of consequences. We did this in previous reviews. But upon the receipt of news that the epidemic is developing and becoming the largest in the last 20 years (the number of deaths exceeded 400, and the cases of 20,000), markets begin to calm down instead of continuing to work out a fundamental negative. This can be seen from the dynamics of the stock markets (Nasdaq updated new historical highs, and Tesla shares seem to have forgotten what gravity and common sense are), gold is declining, risky assets are recovering, VIX Fear Index is falling by more than 10% in day, and the Chinese stock market is adding 1-2% per day. The main problem in this chaos is not to lose one’s head and not to succumb to general madness. Ultimately, you need to work not with current prices and their dynamics, but with facts. And the facts are that the epidemic has already caused enormous damage and will continue to cause it. Yes, the extent of the damage is unclear and perhaps it will be partially leveled in one way or another. But it is applied and this is a fact. So, starting from the facts, we consider current prices in the financial markets to be abnormal. Based on the concept of “regression to the average,” prices will sooner or later have to return to their moderately adequate state. Accordingly, today we will buy gold with redoubled energy and volumes (for less aggressive traders, we can recommend selling a pair of USDJPY - the points for sales are simply excellent). Stock market sales remain our No.1 trading idea. Oil sales (WTI benchmark) from 51.20 also seem to be a balanced transaction (stops above 51.20 with profits in the region of 45 or even lower make the transaction extremely attractive). At the same time, we are acting with an eye on OPEC activity. If the cartel decides to intervene, and oil goes above 51.20, then a stop coup is quite possible. Speaking of other news and macroeconomic statistics, we note that today will be published US employment data from ADP. Although the focus of the markets is traditionally focused on the official figures, which will be published on Friday, strong deviations in the fact from ADP from forecasts can provoke significant movements in dollar pairs.
FOREXCOM:XAUUSDLong
by Trade24Fx
2
Juventus: Bearish trendToday I have a quite unusual stock. Instead of watching Italian football, why not watching some Italian stocks. First of all we can see a bearish trend to the resistence line (1.1185). However, at this point it could reverse. Points to consider: - There is not high volume fluctuations (price will not increase/decrease drastically) - Price quite below EMA 8 so the bearish trend will continue (also was proved with EMA 12 and the result was the same). - RSI (important): it is trading at a very low value (30 approximately) so it could speed the decreasing trend up.
MIL:JUVE
by lukdesimone