Incogniteaux

Incogniteaux

Will it keep going or tank though? It looks as though there will be no Brexit. That could mean good news. It should since nothing means bad news, these days.

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The same trendline is being tested again with a sharp, bearish skid in the past five days. Despite bullish peaks it could be the end of the rally we've experienced since mid-Feb, but this trendline is holding strong. It would be about time for this rally to reverse since it's pushed upward on steadily diminishing volume. There are many reversal signs on the...

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On the daily chart the price has been pinging off of support going back to 2009 (red, upward diagonal above the dotted line). For the past ten days it's loosely been following the 50sma. This is all happening as we approach the wedge between the trendline of the market's downward trajectory beginning May last year and the the support line from 2009 (point of the...

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"When you get range expansion, the market is sending you a very loud, clear signal that the market is getting ready to move in the direction of that expansion." Paul Tudor Jones

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This is a crucial level of support that must be maintained. If we break through here we're in a very precarious position. The fall could be hard and fast.

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The market has turned and this is the first test of a major league support line going back to 2009. If this breaks today there may be some painful days ahead for bulls.

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For the first time in 6 years, the 50MA has crossed under the 100MA.

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As I've said before. Volume divergence is the mark of a weak market movement. Smart money is not buying right now. The peaks of volume have coincided with selling from levels like the one we're currently at, so we should see more of that to come. The price in the last rally and today has gone up on the lowest level of volume we've seen in months. Down it goes

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I don't know what planet you bullish people are from, but no market can sustain this trajectory without profit-taking, and that's not the only vulnerability. There's a %^*$&^ price war on oil going on! This thing will pull back. Buying hysteria can only drive a market so far, unless you think there are good reasons for this price action to be going virtually...

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While there has been some bullish sentiment regarding the 50ma crossing up above the 100ma on the daily chart this past week, on the weekly chart we see the 50 crossing setting up to cross downward over the 100. The last time this happened was 6/23/08. The saving grace of this chart is that it seems the price has moved up above the bearish channel it was...

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Triple tap at .71 (red arrows) indicating reversal. Yellow rectangle showing a bullish flag pattern. 50sma has gone above the 100sma for the golden cross. Very strong support at .88