As others may also concur, the markets are over extending gains and are due for a small correction. The s&p, nas are both showing divergences and are very far from the 50 period moving averages. Our other market indicators such as the VIX are responding well the support levels within their respective historical ranges. Taking a look at the dollar index we also...
Here on the daily chart of the Aussie, we're noticing a potential head and shoulders forming. If we begin to form the right shoulder, I may begin shorting any bounces on the smaller time frames as we approach the neckline. A break of the neckline will confirm the head and shoulders in which case I will wait for a bounce back into the neckline. If we reject, that...
The S&P 500 retreated to its trend support this last week and bounced big time back near all time highs. That being said, I'm bullish on the market this week. Boeing has a very nice looking chart on the daily time frame finding support after a swing high and I've discovered a very clear inverse head and shoulders pattern form on the hourly chart. A break of the...
TSLA is forming a very clear inverse head and shoulders pattern on the DAILY chart. If the RSI approaches the 50 level and clears it, we should see a break of 700 which is approximately the neckline of the inverse head and shoulders pattern. From a technical standpoint, an entry would be made after it breaks through the neckline and price pulls back finding...
