Tuesday, 31 August 2010
Sunday, 29 August 2010
Goldman Sachs Square of 144
This chart was first posted on May 25th. 5/8 time and 3/4 price produced a reversal...now threatening to break important angle support.We had an October to April 6 month high to high cycle...will Oct bring in a major low with another 6 month /1 year cycle ?
Saturday, 28 August 2010
Friday, 27 August 2010
Russell head and shoulders target ?
This index is finding support at the 50% mid-point of the major trading range,approximately 600.We could rally to 640 but it seems only a matter of time before the index breaks down.(see the earlier post with the ominously bearish quarterly candlestick pattern.) Risk/reward does not favour buyers !
Thursday, 26 August 2010
Wednesday, 25 August 2010
Monday, 23 August 2010
Sunday, 22 August 2010
s&p
Looks very similar to the 2007 top,with a 1,2,3 reversal and crossing of 13,21 and 55 sma's.Currently 13 week sma is below the 21 and 55 but 21 has not yet crossed the 55.Weekly trend has turned down with this weeks lower low,confirming the 1,2,3 high...fast moves come from triples !
Saturday, 21 August 2010
DAX/Europe 3x Bear ETF
The Dax triple top pattern has now been confirmed with 2 lower lows on the weekly chart and we have broken back into the channel.Weakness in the Dax is very significant as it has been one of the strongest developed markets charts,especially within Europe.
FTSE could have swift fall to 4800
3 lower tops in a weak position,3rd top itself a triple top,measured move decline to 4800 may be on the cards.
Apple
Following the bearish time pattern setup we got a sell signal with the engulfing candle last week,and now we have another bearish candle,an inverted hammer
Coffee breakout
I haven't been following coffee that closely but noticed this major breakout today.Cocoa broke lower today and we have been bearish but the coffee breakout suggests the need for caution as they often (not always) move together.Stops on short cocoa positions should be no higher than just above last week's highs (not intended to be trading advice,just technical observation)
Friday, 20 August 2010
Thursday, 19 August 2010
S&P
Am looking to see if this minor wave 2 has finished yet.If correct we could expect a sharp move down.The Gann angles and the ema's lend support to this scenario.
Tuesday, 17 August 2010
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