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
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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
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