tyler_sim

tyler_sim

Exxon Mobile is exhibiting a massive H&S top and is now trying to break below the neckline for the second time. Often times if a support/resistance break attempt fails, the second attempt tends to be more successful. If this Head and Shoulders top does break down, that should coincide with the price of Oil and be the start a new bear market for the non-renewable...

tyler_sim

Australia's primary equity index (ASX) is seen here through the S&P/ASX index (XJO). Here we can see that ASX is retesting its prior highs from 2007 before the great recession hit. Will be watching for a good-sized pullback soon given the vertical run that the ASX has been on this year. Will that have any impact on the U.S. or other major stock markets? Not sure,...

tyler_sim

As we come to the EOM, a pretty well defined Monthly bear flag can be seen in the Dow Jones Industrial Average. Alongside this bearish setup, the current trade war is posing a big threat to global economies. Rising interest rates, tax cuts in a growing US economy, trade war threatening growth across the globe, this is not a time to be complacent in my opinion....

tyler_sim

Looking at the weekly chart here of the Dow from 1987, compare that to my previous post of current Dow and I find they look very similar. Next few weeks could be interesting, but I am still bullish on the current market until proven otherwise.

tyler_sim

As the bulls have not been able to strongly recover from February correction yet, the current sideways action we are seeing in the Dow & the S&P suggests uncertainty. An important symmetrical triangle pattern has taken shape in the Dow amongst this current uncertainty, which becomes a very important area to watch for the near-future. A break below suggest bears...

tyler_sim

Definitely not the most obvious inverted HnS, but Gold still has taken that shape nonetheless on the Monthly timeframe. Will be on watch for a break and close above next key resistance level (red horizontal). Could see stocks and Gold appreciate hand in hand again, similar to the recovery after the financial crisis.

tyler_sim

We can see that USDJPY is currently breaking down from its right shoulder on a big monthly Head and Shoulders pattern. The green support lines and purple trend lines could be areas that this pair could fall to over the next year.

tyler_sim

This monthly chart of the 20 year US T-bonds has printed a nice H&S pattern. If price breaks below neckline TLT could get very bearish for a while, reflecting a heavy supply of T-bonds and a continued increase in demand for equities.

tyler_sim

This monthly chart of the 20 yr treasury bonds shows a H&S pattern formed. We are currently near the neckline of this head and shoulders pattern. If neckline is breached TLT could get very bearish for some time, which would reflect continued selling of the 20 yr T-bonds and a continued increase in demand for equities.

tyler_sim

We can see that SPY is nearing in on a long term ascending support->resistance level. This circled area has the potential to bring some volatility back into the markets in the near future. Combined with Ending/Beginning of year, a red month or 2 in near future would not be at all surprising to see. Fundamentally speaking, not sure what would be the catalyst here,...

tyler_sim

- What I see on the monthly chart is one big Head & Shoulders pattern on the Pound/Dollar currency pair. Speaking relative to the long term context, price recently broke below H&S pattern & is now retesting resistance area.

tyler_sim Updated 

USOIL appears to be setup for a big drop in the coming weeks / months. We could very well see 12-month lows or more if price can break through next 2 near-term supports.

tyler_sim

Few key resistance levels to break past in order to continue uptrend.. Could see some consolidation or a pullback in near future.

tyler_sim

I think we could see bulls on SPX for a few more days. Trends are still strong. I do see a potential roadblock area around 2370 according to Fib extension.

tyler_sim

Besides all averages down on the 1 hour timeframe, a descending triangle is spotted as well. Watching for that level of support at 212.50 for a hold or a break below down to 210 or lower...

tyler_sim

Will be watching price this morning for a potential breakout of the current bull pennant. Bull's favor: 1. Large buying volume recently 2. Golden cross formed yesterday 3. MACD near a bullish crossover 4. Medium-term trend is currently with us 5. Bull pole/Pennant pattern currently (15 Min) Bear's favor: 1. Negative divergence in MFI and RSI created...

tyler_sim

WTI has shown some healthy recent bullish strength from bouncing off the recent low of $39.00. However, I do see a couple bearish warnings up ahead on the 15 Min. timeframe. Bearish: 1. Large recent selling volume 2. Resistance level created yesterday afternoon at around $43.30 that price will need to break through 3. A negative divergence in both the MACD and...

tyler_sim Updated 

Thinking of paper trading FORK tomorrow morning for a few reasons. 1. Overall bearish trend 2. MFI and RSI both in overbought areas 3. Price seems to be pretty overextended 4. Just finished learning Fibonacci's and the closing price of FORK is right around that 1.618 Fibo extension area, which is also a previous area of resistance Signs against this short, that I...