SPX choppy H&S on daily chart commences [ie bearish]
Posts Tagged ‘Trading’
EURUSD daily chart downtrend continues [ie bullish USD]
FTSE 8 hour chart bearish diamond pattern continues.
SPX / DJIA / NASDAQ daily/weekly/monthly topping process from
extreme levels guarantees Wile E Coyote collapse.
FTSE 8 hour chart diamond pattern continues.
AAPL downtrend on daily chart commences.
AAPL daily, weekly and monthly charts are grossly overextended.
Vertical moves like this for any stock,commodity etc are unsustainable.
The inevitable reversal should be spectacular.
This is not a trade recommendation.
[disclosure: no position held]
Looks like AAPL has topped at $621.45 on March 28 2012.
If i’m correct this indicates the uptrend has ended and a significant
downtrend will develop.
Despite mixed signals, FX markets today suggest stock bearish.
Bearish influence from overextended SP500/DOW/NASDAQ remains.
Gold and Silver not participating in bounce today…
Greek hopium stockbulls battle it out with overextended SP500/DOW/NASDAQ.
Additional Greek hopium results in USDX weekly chart giving bearish warnings
again. Naturally this will be market significant for stocks etc and aggressive
short covering spikes may result – maybe up through 1370 ?
NZDUSD diamond pattern from last week confirmed and now morphs into
USDJPY overbought intra day gives bearish warning.
Euro hopium factor aside, SP500 1,363 should be the top.
Europe/Greece remains an unknown variable.
CADJPY short 80.054
EURUSD long 1.3230 [c 1.3261]
USDJPY short 79.501 [c 79.550]
GBPAUD long 1.4743 [c 1.4745]
EURAUD long 1.2258
EURUSD short @ 1.3934
Been away from charts again and I see that EURUSD is tracking
sideways. Uncertainty and lack of market consensus dominates
DOW/S&P500 etc daily charts remain very overextended.
When you stretch an elastic band too far – what happens ?
Pent up energy is suddenly released (the crash in late 2008 is
a good example)
AUDUSD (belated) target for this up leg is .9990 – let’s see if i’m
right. Last price .9905