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US Markets Defy gravity - S&P / DOW JONES Weekly Consideration S&P: If P action in the next week closes below the orange line at 2723.3 attention will turn more bearish and watch for market to fall to 2460.2. In this instance will reassess market dynamics as it may bounce in this range or continue to fall Dow: The same flows for Dow Jones with P action in the next week close below the orange line at 22931.5 attention will turn more bearish and watch for market to fall to 20842.4. In this instance will reassess market dynamics as it may bounce in this range or continue to fall If markets stay above these initial levels for the next 3 months (i’ll be surprised) however this will look like economies are back in order from COVID-19 and running ‘normal economics’ The above is a very basic observation at present as I scan charts. Larger write up to come, stay tuned. (Print source set to close)
TVC:SPX
by LandenInternational
Zoom to end their call? Prospectus...A classic head and shoulders by the almighty Zoom. It's not unlikely that their run is coming to an end, but we could see a bit of upside before we suffer downside. I would expect a bit more reactionary price action before the main crash. We have a textbook Head and Shoulders forming, with a consistent neckline in line with the hourly open. This has been a stock I've been following for a long time, and I've had the Head and Shoulders idea since the 24th April, or its second peak. It's very difficult to analyse stocks, as they tend to follow fundamnetals more - but I'm really confident on this one. It's not often that the H&S pattern fails, let alone reverses. We shall see how this plays out alongside the falling volume. Be careful with this idea, as it could reverse for a second time. Place a stop loss where you can afford to take losses - I have placed a potential point of entry on the chart, but personally I will enter here - as I can afford to do so due to my level of margin. Trade responsibly. NFA
NASDAQ:ZMShort
by lndlsnt
HSBC Pushing Upwards...HSBC is the best bank stock to buy and hold right now. Note the hold element in that statement. Take security in the support level mapped out @ 20.50. This is very likely to hold, but we could be in for some consolidation here. It's very likely that HSBC will hit the target in the 'entry price'. From there, we have two scenarios. One is that it lifts off from that target due to the local support within the range charted. If this happens, then we can expect HSB to hit our target with very little effort. The second scenario is that it consolidates and goes slightly below our entry, before potentially falling through/holding that level and sitting tight for a week or two. We need sufficient volume in this situation and we should be looking to get a safe entry at all costs. Whilst the volatility is residing, we can take a technical outlook and chart onwards from there. For now, however, I think the idea presented works perfectly in conjunction with what the chart says to us here. I would expect this target to be hit by the 1st June at the latest, but as early as next Tuesday.
NYSE:HSBCLong
by lndlsnt
USDCAD, Bearish FlowAfter a Successful Bull Run taken Earlier Last Week, I'm looking to find the next possible entrance in this pair. Carefully we will speculate if price gives us more definition on its intentions in the market as price action has reached its Respected Trend Line within Month(s). We are Prepared for both scenarios as we use proper RR in the Market, if price does decide to break out of its trend then we adapt to the conditions given to us and wait patiently for price to make its way to our next Bearish Selection (Double Top).
Short
by RiosTrades
Weekly US Market Update | Week Ending on 1st of May 2020Hello everybody! Welcome to another episode of Weekly Market Update. Let's get started with the performance of the major indexes of Wall Street for the week ending on 1st of May 2020. The Dow Jones Industrial Average closed on Friday with a loss of 2.55%, losing 622.03 points and closing at 23723.69. On a weekly basis the Dow Jones had a loss of 0.22% while from the start of the year it has a loss of 16.87%. The S&P 500 closed on Friday with a loss of 2.81% losing 81.72 points and closing at 2830.71 points. For the week the S&P 500 had a loss of 0.21% while it's YTD performance is -12.38%. The NASDAQ Composite Index closed on Friday with a loss of 3.2% losing 284.6 points and closing at 8604.95. For the week it was down 0.34% while from the first of the year it is only 4.1% down. As you can see the NASDAQ composite has better performance than the other two major indexes. The current market outlook right now is that we are on an UPTREND. An Uptrend that was confirmed on 2nd of April 2020, the date that we had our follow through day. A follow through day is a day of a new rally between 4th and 7th day with a gain of 1% at least and volume higher than the previous day. On 28th of April we had a distribution day on both Nasdaq and SP500. A distribution day is a day when a major Index falls 0.2% or more with volume higher than the previous day. So we have 1 distribution day for the Nasdaq and 1 distribution day for the SP500. A lot of distribution days on a short term means weakness for the rally. Nasdaq broke the Trendline Support (2). Personally I wouldn't be afraid if we have a pullback at our Trendline Support (1) and then the markets continue up. If this happens, it's normal. If it breaks the Trendline Support (1), more downside will happen. But the Friday's Candlestick shows that the market will fall a little more. We remain on an UPTREND right now and we have to see if it will break the Trendline Support (1). As long as we are above the Trendline Support (1) we are ok. See you next week for another Weekly Market Update!
TVC:IXICLong
by dionthas
DJI (Wall Street) - 1H - patterns sometimes repeatMuch of good trading is about time spent stalking. Trade execution by the most successful traders happens only after much patient study. The current position of the DJI, resembles a previous one. Patterns tend to repeat. This means vigilance to see if they do repeat. There could be losses involved. I never avoid talking about that. Sometimes a pattern may appear to be repeating and then fail. That's when an affordable loss comes into the equation (it's called a stop-loss). The stop-loss limits how wrong one is in estimating a projection. Avoid predictions, is my motto - which is not everybody's motto. Disclaimers : This is not advice or encouragement to trade securities. No predictions and no guarantees supplied. Any previous advantageous performance shown in other scenarios, is not indicative of future performance. If you make decisions based on opinion expressed here or on my profile and you lose your money, kindly sue yourself.
FOREXCOM:US30
by Captain_Walker
1
Dow Futures now short. MACDH divergenceHere we are with another go at a dow short after the failed attempt last night (but with some nice follow through longs today). Now we can see a 1hr MACDH and RSI divergence in overbought territory. We can also see an inverted hammer candle showing potential reversal. There should be some downside potential here. These types of divergences are my A* trades and often give good profit due to the extreme divergence on the MACD histogram. Stop is at 24220. If I get stopped out again that would indicate a lot of buying power and I would expect a run up again, so another opportunity to simply reverse and go long if this short fails.
FOREXCOM:US30Short
by breakoutfakeout
Dow sell. Lower high post breakoutHere we have a lower high on the 1hr chart on the dow after a breakout of the rising wedge on the daily. Nice engulfing pattern too on the 1 hr candle. Its currently trading above the 200HMA but with all other moving averages are crossed under so its good value for a short here. We could expect some selling pressure here in overbought territory and a test in the first instance of the rising trend line and maybe lower. 4 Hr 200MA is still sloping downwards and daily MA's are still bearish. I'l be looking to scale out some profits at the rising trend line and a break of the swing low on the hourly charts.
FOREXCOM:US30Short
by breakoutfakeout
Weekly US Market Update | Week Ending on 24th of April 2020Hello everybody! Welcome to another episode of Weekly Market Update. Let's get started with the performance of the major indexes of Wall Street for the week ending on 24th of April 2020. The Dow Jones Industrial Average closed on Friday with a gain of 1.11%, adding 260.01 points and closing at 23,775.27. On a weekly basis the Dow Jones had a loss of 1.93% while from the start of the year it has a loss of 16.69%. The S&P 500 closed on Friday with a gain of 1.39% adding 38.94 points and closing at 2836.74 points. For the week the S&P 500 had a loss of 1.32% while it's YTD performance is -12.2%. The NASDAQ Composite Index closed on Friday with a gain of 1.65% adding 139.77 points and closing at 8634.52. For the week it was down only 0.18% while from the first of the year it is only 3.77% down. As you can see the NASDAQ composite has better performance than the other two major indexes. The current market outlook right now is that we are on an UPTREND. An Uptrend that was confirmed on 2nd of April 2020, the date that we had our follow through day. A follow through day is a day of a new rally between 4th and 7th day with a gain of 1% at least and volume higher than the previous day. On 7th of April we had a distribution day which has been deleted after the huge gain of 4% on 14th of April. A distribution day is a day when a major Index falls 0.2% or more with volume higher than the previous day. We remain at 0 distributions days, which is a positive sign for the market. A lot of distributions days on a short term means weakness for the rally. Personally I wouldn't be afraid if we have a pullback at our Trendline Support (1) and then the markets continue up. As we told on our previous Weekly Market update we are on 61.8% Fibonacci Level, we crossed the 50 moving average and on Friday 17th of April we saw a pinbar . So there was a 65-70% probability for the markets to have a pull back to the Trendline support as it happened. But now we have also a test at Trendline Support (2). We remain on an UPTREND right now and we have to see if it will break the Trendline Support (2). If this happens then it may move until Trendline Support (1). See you next week for another Weekly Market Update!
TVC:IXICLong
by dionthas
1
COVID-19 ATTACK, Fake news and the DJI (Wall Street)I present Tradingview data on COVID-19 infection rates and death rates in the USA - and compare those with the DJI (Wall Street). Contrary to what we've been told by our leaders and mainstream media, there is no plateauing of infections or deaths in the USA. NOBODY can say that the virus has peaked. The virus is charging north on exponential curves. Most of it's attack was in April 2020. This bug is just getting started. The chart shows the FED's QE infinity approach and how it has been failing. Disclaimers : This is not advice or encouragement to trade securities. No predictions and no guarantees supplied. Any previous advantageous performance shown in other scenarios, is not indicative of future performance. If you make decisions based on opinion expressed here or on my profile, and you lose your money, kindly sue yourself.
CEducation
by Captain_Walker
1
Weekly US Market Update | Week Ending on 17th of April 2020Hello everybody! Welcome to another episode of Weekly Market Update. Let's get started with the performance of the major indexes of Wall Street for the week ending on 17th of April 2020. The Dow Jones Industrial Average closed on Friday with a gain of 2.99%, adding 704.8 points and closing at 24,242.5. On a weekly basis the Dow Jones had a gain of 2,21% while from the start of the year it has a loss of 15,05%. The S&P 500 closed on Friday with a gain of 2,68% adding 75 points and closing at 2874.57 points. For the week the S&P 500 had a gain of 3,04% while it's YTD performance is -11,03%. The NASDAQ Composite Index closed on Friday with a gain of 1.38% adding 117.8 points and closing at 8650.1. For the week it was up 6,09% while from the first of the year it is only 3,59% down. As you can see the NASDAQ composite has better performance than the other two major indexes. The current market outlook right now is that we are on an UPTREND. An Uptrend that was confirmed on 2nd of April 2020, the date that we had our follow through day. A follow through day is a day of a new rally between 4th and 7th day with a gain of 1% at least and volume higher than the previous day. On 7th of April we had a distribution day which has been deleted after the huge gain of 4% on 14th of April. A distribution day is a day when a major Index falls 0.2% or more with volume higher than the previous day. So we have 0 distributions days, which is a positive sign for the market. A lot of distributions days on a short term means weakness for the rally. Personally I wouldn't be afraid if we have a pullback at our Trendline Support and then the markets continue up. As you can see on the graph we are on 61.8% Fibonacci Level, we crossed the 50 moving average and on Friday we saw a pinbar. So there is a 65-70% probability for the markets to have a pull back to the Trendline support. We have to see also the earning season. If the results are not good, the pull back has more probability to happen. But whatever happens, we are on an UPTREND right now. See you next week for another Weekly Market Update!
TVC:IXICLong
by dionthas