News

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

The passing week ended as an inside, relatively small range Weekly bar with a bullish body, something like “I’m not that strong, but neither am I in a hurry to decline”.  As for the current price action, most likely the current month is going to close as an inside bar, probably tends to be bearish. The market Read More

A LH LL Weekly bar printed for the S&P futures, with much choppier price action compared to the previous weeks. The passing week has continued the signs of weakness seen lately – by starting with a failed attempt to close above the Daily 50 SMA, followed by a sharp move down on last Tuesday. Finally, last Read More

A quite, narrow range week has passed. Despite the NFP report, the whole Weekly price action was inner to the previous Friday’s Daily bar, September 30th. The market continues to show signs of weakness. The Monthly bar is inner to a LH LL bar that was a second in a row that couldn’t reach the Read More

The passing week ended as an inside bar, quite strong, above the 8 EMA line, has also closed the Monthly bar as well, as a bullish pinbar on the sloping Monthly 8 EMA. Certainly taking out the Monthly High at 2189.25 is bullish, a signal that can point to 2280 as a target. But other Read More

The price consolidation in the current area has continued throughout the passing week, and as expected it did make a Weekly HH, the price has reached the target of the bullish signal given here last week, as well as reaching the middle range of the upper Megaphone pattern, as usually happens after breaking a Megaphone Read More

As expected, the market has been consolidating (though very volatile, but relative to the previous sharp move down) throughout the passing week. There are much more chances for another week of correction up than continuing the bearish move the market had started. The Weekly High at 2156 is likely to be taken out. Pay attention Read More

Finally, the inability to push up, closing the month of August as a Doji that doesn’t touch the upper Bollinger Band and a considerable backwardation in the new contract for December 2016 (ESZ6) resulted in a vast move down on last Friday. The previous most important bullish sign, the Weekly pinbar of the first week Read More

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

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