UnknownUnicorn2413721

UnknownUnicorn2413721

This coming week, the bulls have to cross the heavy resistance at 2750-2759 to reconfirm the uptrend. Failure will send the markets down again or into continued reconsolidation. Best to wait for market confirmation before confirming your own bull or bear. Not the best time to be long or short. Going back to a more neutral stance from short term bull stance...

UnknownUnicorn2413721 Updated 

Fib retracement and heading into resistance of 2761. If bulls can push past that, don't stand in their way. If we see a pullback here, don't be surprised. Inverted hammer might be an indication? Many technicals confirm the short term bull but RSI and CCI have gone flat. Since Monday is closed, Asian and European markets might continue to run providing the...

UnknownUnicorn2413721

Very interesting 1 week chart pattern showing another rejection of strong 128.11 resistance but with longer term possible setup for a bullish breakout past all resistance. Appears to be heading down short term first for a higher low first. If it dips to 123 and regains its bull, we might see it break some long term resistance at 130.96 and the bull break and run...

UnknownUnicorn2413721

Historically the third week of February is strong on the TSX. Buy and hold fund managers take advantages of dip to place fresh RRSP money coming in for tax season savings (first 60 days of the year to qualify for the previous year). The charts on the daily shows core technical indicators being bullish so it appears to be safe going long. The S&P is mixed and in...

UnknownUnicorn2413721

We saw a nice bounce but we are now hitting Fib resistance. It could be argued that we tested it on Friday and failed to overcome the 2740 levels but it's too early to tell. Our daily candles had a higher low but a flat higher-higher after imprinting a green candlewick. So it's unsafe to be long or short at this point since the markets aren't sure. The bulls...

UnknownUnicorn2413721

Bears, take cover for now. Both 1hr and 4 hr charts are bullish. Downtrending OBV has turned positive, as have other key indicators. Bears had their chance but CPI numbers are bullish but not "too hot to handle". All indications point to a bull recovery after this much needed correction.

UnknownUnicorn2413721

The bulls appear to be winning over the bears short term. As the short term bulls return, so will the mid term bulls. Not a good time to be short until bulls show weakness. The CPI/inflation headwinds don't appear to be strong. Do not be surprised to see bullish consolidation and a tighter trading range happening with lower resulting VIX

UnknownUnicorn2413721

Bulls appear to be very weak as demonstrated with lower daily volume than past trading sessions. Money Flow (CFM) is negative although OBV is positive. Mixed signals here. Fierce battle between the bulls and bears shown in this consolidation trading. Watching without a position for now until the trend is confirmed.

UnknownUnicorn2413721

$35.14 is a good consolidation support level. If the wider markets continue to be bearish and $33.25 doesn't hold, the next support levels appear to be in the $27.30. Let's see how the markets react to the CPI numbers and possible inflation indictors tomorrow. Current neutral with greater risks on short term bear action before the medium term bull returns here.

UnknownUnicorn2413721

There is a fierce battle between bulls and bears on the markets and on Canada's market mover. Aurora Cannabis. On short term trading, if bears are able to bring ACB sub $10.65 on a 4 hour candle, they might regain control. Interesting stock to try to chart.

UnknownUnicorn2413721 Updated 

Looks like the bulls are back in charge. Bias trading long for now.

UnknownUnicorn2413721

We hit November levels that creates resistance this morning (orange line), unless we can get sustained bull action here, the red downward trend line will force this down to a new lower low on SPX and the wider markets. Trade with care here bulls. I'm on the sidelines taming my FOMO fears. I only run with the bulls when they show conviction and I'm fine not...

UnknownUnicorn2413721 Updated 

SPXL - S&B Bull Triple Bull Trading Instrument - Feb 11th Tech Analysis The SPXL is the S&P triple bull. It could be argued that it provides a magnified view of the S&P as it is leveraged on the bull side with SPXS providing the counterbalanced bear trading instrument. The December and January trend lines provides a clear view of the magnificent bull run which...

UnknownUnicorn2413721

The overall markets are quite murky these days. With the VIX are very high levels, both bulls and bears need to watch the larger market indicators such as $SPX, $INDU and $TSX before considering risking capital in the markets. Whether long or short. Assuming the downtrend continuing this week, here are some of the resistance levels based on previous highs and lows.