The passing week took out the Monthly swing High at 2191.50, which had been the all time High so far, printing a bullish Weekly bar that closed on its High, penetrating the upper (Weekly) Bollinger band, very strong. Taking out the Monthly swing High triggered an important bullish signal to reach the 2350 area, slightly Read More
November 2016
As opposed to the election’s volatile week, the passing week showed consolidation on the Highs, a clear shortening of the thrust. After closing the most important gap since the Monthly correction has started, at levels 2171.75-2177.5, a typical correction and the reversal back up, – the market succeeded in making a follow through. Most likely Read More
The volatility the market created during last Wednesday, the day after the elections, – was huge. It has been so far the biggest Daily bar this year. Although I was skeptic that the prices would reach the full target of the bearish setup at 2030 mentioned in the last review, the market eventually did reach the Read More
Last Tuesday, the market signaled a bearish move by taking out the Monthly Low at 2100.25. The target of this signal is towards 2030, but this is a countertrend Weekly signal that might not achieve its target fully. Do doubt that the general picture from the Daily up to the Monthly timeframes is pretty bearish. Read More