Check out the MACD on that graph... last rally after Feb 27th had less strength than before it. Sell-offs gaining more strength aswell. It appears as if we're setup for 1 more rally to highs though before the big downside comes in.
monster rally coming!!
- Thread starter empee
- Start date
Check out the MACD on that graph... last rally after Feb 27th had less strength than before it. Sell-offs gaining more strength aswell. It appears as if we're setup for 1 more rally to highs though before the big downside comes in.
From the feeling Im feeling inside
Its coming up real soon \
So enter the dax of doom
Its coming up real soon \
So enter the dax of doom
Ok second examination I have begun noticing more bullish signals on the ES.
- Double Bottom on multi day
- Trendline support on weekly
- Trendline support on yearly charts
- 200 EMA support
On a worse case scenario this could be a bear flag that culminates into a head and shoulder formation with a 200 EMA as the neckline. Whoever wins this battle is going to need all the troops at hand, neither the bulls or the bears will let this one go this easy.
I'm not a swing trader but if I was forced to take a trade I say we form the second shoulder before deciding the next major move and would be a buyer on Sunday night on the first pullback if any with a prudent stop below the 200 EMA to sell around the left shoulder resistance area for a safe 2:1 or 2.5:1 reward.
Hope this humble analysis helps.
Anek
- Double Bottom on multi day
- Trendline support on weekly
- Trendline support on yearly charts
- 200 EMA support
On a worse case scenario this could be a bear flag that culminates into a head and shoulder formation with a 200 EMA as the neckline. Whoever wins this battle is going to need all the troops at hand, neither the bulls or the bears will let this one go this easy.
I'm not a swing trader but if I was forced to take a trade I say we form the second shoulder before deciding the next major move and would be a buyer on Sunday night on the first pullback if any with a prudent stop below the 200 EMA to sell around the left shoulder resistance area for a safe 2:1 or 2.5:1 reward.
Hope this humble analysis helps.
Anek
I post an hourly chart with the SPX and VIX index. We can see clearly that there is a divergence. While the VIX made a new high on Friday and traded above the highs made last week, the SPX index stayed above the lows made also last week.
I think there is much bearishness on the market and that can trigger an upleg, temporarily.
Bye.
I think there is much bearishness on the market and that can trigger an upleg, temporarily.
Bye.
lol