steveoliveira

steveoliveira

Point of formation Broadening Top formation appears much more frequently at tops than at bottoms. It is a difficult formation to trade in. Its formation usually has bearish implications. Role of big players It is a common saying that smart money is out of market in such formation and market is out of control. In its formation, most of the selling is completed in...

steveoliveira

Head and Shoulders formation, still needs a confirmation with a neckline break...

steveoliveira

Chart shows a nice reaction every time we get RSI Overbought and Oversold levels, so right now we have overbought levels along with a 50% retracement test. We have a short-term opportunity on the short side... so let's see how it unfolds. This could be good news for equity’s and help the S&P finally reach the all time highs...

steveoliveira

Good rebound to the 20 day MA, the trend is down. So it's a nice short setup. It could retrace until the double top projection, so that is where it's going to be the stop.

steveoliveira

It's still to early to call the top on this market, as there is this thing like a magnet working toward the all time highs, similar to the S&P. However, there is room to test support and close some gaps. I also believe that if this upside breakout from the Jan-Mar range fails, the price will try to test and break the 7500 area, and we'll be better short from this...

steveoliveira

This one shows a good ROIC (return on invested capital) which means that fundamentals support the long side, however this sector is one of the hated, but still, i see some accumulation building. I will wait for the wegde breakout to get long, and i'll wait until the 38.2% retracement, that's a 60% upside. I like this one a lot! Thanks, S.

steveoliveira

We had a previous AB=CD pattern that worked fine. Now i see another AB=CD which still needs to unfold. There are also divergences that point upward.