Silver- Double Bottom formation (Downtrend over). Confirmation- Red neckline must be broken.
Bitcoin -Weekly log chart- toucing long term UpTrend support line.
Apple (Weekly log chart) testing long term UpTrend support.
Nasdaq (weekly log chart) testing long term UpTrend support line
S&P500 (Weekly log chart) testing long term UpTrend suport line.
SP500 index- Secular bullrun since 2008. Marked mostly by periods of green UpTrend lines. Punctated by short periods of consolidation in purple rectangles.
NB. Long term upterm on daily log chart, and bullish RSI divergence marked by red and green lines.
Last green candle from Oct 16th, moved the SP500 above it's 200-day MA and its uptrend line (started in Jan 2016).
DOW JONES 30- Long term support around 22,000 points (about 10% lower than recent close), if green TL is breached and Double top formation takes us back to longer term Uptrend line in Red, to target in red arrow.
Long term log chart Nasdaq 100 index support around 6500 points, as arrowed.
Long term S&P500 log chart. Support as arrowed.
SP500 index- major Uptrend line breach at red arrow . Uptrend commenced early 2016. Either sideways consolidation next, followed by UpTrend continuation OR formation into a trend reversal to a new down trend. More candles required for either to be confirmed.
Headed towards Uptrend line (pink) arrow.
Will likely retract to 0.7360 downtrend line in the shorter term (red arrow).
S&P500 index - Weekly chart. Healthy UpTrend. Red line since 2009 to 2015. Sideways consolidation around 2015. Pink UpTrend line from 2016-present.
Look at past S&P500 'classic' Double Top reversal formations (double equal height arrows). Current price breakout is unlikely to complete into a Double Top reversal formation, since the second peak (green arrow)is significantly higher than the first peak. Double Tops A double top forms when the price makes a high within an uptrend, and then pulls back. On the...
Apple- A long term fan. Buy and hold. Alternatively, trade it. Buy, when it rises above the 200-day Moving Average. Sell, when it falls below the 200-day Moving Average.