US$ looks ready to rip higher, methinks - oversold on nearly every timeframe ...
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I’m not so sure on that Froddy. Possibly short term but as the US is totally reliant on unlimited “stimulus” and Yellen will happily oblige this course of action I can only see it going down the tubes in future.US$ looks ready to rip higher, methinks - oversold on nearly every timeframe ...
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That's a bad sign for the bulls!I have to agree, every single expert out there also does.. which generally means the opposite!
As for the S&P, we are at the very top of the broadening formation on the monthly chart (danger danger!):
For now, I'm holding my long positions but nearly every position is covered, and I have a longer-term hedge in place too (which saved my bacon in February!)
Markets are in the stratosphere compared to reality.Chaps,
I think we're edging ever closer to a major correction - please be careful. Not saying the markets won't go higher - they probably will - just be on high alert.
The 10 period moving average of the put:call ratio is lower than I've ever seen it at almost 50:50 - there are surely no buyers left, and it's now lower than the reading before the Feb crash; the first arrow below marks the start of 2020, and the second is today.
I could be wrong - probably am - but tightening those stops won't do you any harm ...
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Seems the US politicians have suddenly realised that around 12million Americans will lose their unemployment benefits at the year end.US$ index has today tested the lower trendline of this broadening formation on the weekly chart.
Decision time! Will this end badly???
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The twitchy Close was attributed to Pfizer distribution concerns.........supply chain issues.It really is unbelievable - the US is nuts ...
Unfortunately, their decisions impact the rest of the world.
I think the question is whether that well-established US$ lower trendline will be defended (as it was today), and whether we see a dollar surge from here. If it does, the very fragile toppy stock market may fall hard - and fast ...
Here’s what happened into the close of the S&P cash session (1 minute candles) - very edgy indeed ...
The two (USD and S&P) are inversely correlated.
Where is @MaseratiGent? We need his expertise!
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Ohhhh! Thanks Wattie!A
The twitchy Close was attributed to Pfizer distribution concerns.........supply chain issues.
Bad news is normally good for markets however (more stimulus will be needed) so expect a Friday soar.
Boom!US$ index has today tested the lower trendline of this broadening formation on the weekly chart.
Decision time! Will this end badly???
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A
The twitchy Close was attributed to Pfizer distribution concerns.........supply chain issues.
Bad news is normally good for markets however (more stimulus will be needed) so expect a Friday soar.
I’ll read the tea leaves Froddy and let u know what they sayYou were absolutely right, Wattie - markets rose on terrible news ...
Is the dollar ready to rebound? Crazy as it may seem, I think it is!
Chaps,Adobe (ADBE) has caught my eye.
It's successfully tested long-term trendline support (going back to March low), it rose above Tuesday's "inside candle" day (thereby resolving indecision), it's in a volatility squeeze after two weeks of consolidation, and it has upcoming earnings to rally into.
I think I'll have a punt, with stop loss being one cent below the low of Tuesdays inside candle ($456.67); profit target one will be $499; profit target two will be $519 (being the preceding two swing highs).
Fingers crossed!
Daily chart below:
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No, sorry - I don't trade UK shares as I principally trade US options (derivatives) contracts, and my scanning software is US-based.Don't we know any UK shares?