The month of August closed as a Doji bar, not touching the upper Bollinger Band, not an exciting sign for the midterm bulls as there is less chance for a Monthly bullish momentum ahead. As mentioned in the last review, the Daily bar of previous Friday, August 26th did serve as a stopping action, while Read More
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Last week, the market has extended the previous week’s bar, making a new all time high first, then dropping almost to the Daily lower band with a huge Daily range bar. Notice that we have a new megaphone pattern emerging. The megaphone pattern is a disaster for trend trading, especially by entering after taking out a Read More
The passing week was another week of sideway action, expanding the range from above and below, closing at the middle of the Weekly range. Finally, it has reached the target for the AB=CD pattern suggested after the Brexit news recovery, at 2189. The passing week can still be treated as a bullish pinbar, where a Read More
The passing week printed a narrow range Weekly bar with lower volume, very typical for August. After taking out the previous High, the price folded into the former range, just to reverse and continue the move higher. I mentioned this behavior of the Megaphone pattern in the last review. The market has triggered the Weekly Read More
The last 3 Weeks were wonderful example to how market manipulation can take you off course, as twice the market gave you a buy signal by taking out the Weekly high, and twice this breaking up of the Weekly High turned out to be a false thrust, just to see it reverses again after extending Read More
Another narrow range week has was over, in which the market started by a Weekly false break up, ending with a Weekly false break down. So, we had a HH LL Week that closed near its High, a 3rd week to penetrate the upper Bollinger band, and composed of Daily bars that closed above the Read More
A very narrow range week has passed, and the market made almost nothing but staying in a very small range trading sideways. We are now slightly above the 161.8% extension of the Whole bearish market of years 2007-2009 at 2156, While the previous all time high at 2134 and the whole big correction since May Read More
After more than a year, the all time High of 2134 has finally been taken out. The whole Yearly correction since 2015 can be considered as a corrective Elliott Wave 4, while now we might be “officially” at Elliot Wave 5 of the Bullish market since March 2009. As mentioned in the last review, except Read More
Two weeks after the Brexit pole, the market looks very strong, and currently is above the highest price prior to the pole. At this point it might looks like as if nothing could stop the market from taking out the all time high and skyrocket into the Monthly upper Bollinger band at 2180, at least. Read More
The strong close of the passing week brings us back to the indecisive sideways action. The bearish setup target mentioned in last review didn’t reach the 1960 level, and in turn made a remarkable reversal up above the 1980 level. This bearish formation to 1960 is still valid as long as the Monthly High at 2119.5 Read More