SPX: The Ending Diagonal Project
(Weekly Analysis)
I have been discussing that due to the fact that both up legs from the October and February lows are corrective there is a chance that price could be forming an Ending Diagonal.
SPX 1,866.03 -1.60 (-0.09%) |
.DJI 16,327.52 -23.73 (-0.15%) |
NDX 3,699.90 +8.40 (0.23%) |
RUT 1,189.26 +2.21 (0.19%) |
TLT 107.01 +0.69 (0.65%) |
VXX 49.33 +0.43 (0.88%) |
XLF 22.15 -0.08 (-0.36%) |
XLY 66.64 -0.18 (-0.27%) |
XLI 52.17 -0.22 (-0.42%) |
XLE 86.96 -0.20 (-0.23%) |
XLB 47.21 -0.05 (-0.11%) |
XLP 42.71 +0.03 (0.07%) |
XLU 40.14 +0.36 (0.90%) |
XLV 59.47 -0.11 (-0.18%) |
XBI 160.10 +0.28 (0.18%) |
XRT 86.44 -0.18 (-0.21%) |
TWT Posts
26
FEB
2014
GDX (Gold Miners ETF): A Pullback is due
03-07-2014 : Follow up
The assumed wedge has not panned out, instead price has formed a Triangle
If the measured target is fulfilled the assumed wave (A) can reach the 28 area.
If this target is hit the following wave (B) should bottom in the range 25.05 (200 dma) 23.91 (Gap fill, 50 dma, lower BB)
TWT Setups Watchlist
12
MAR
2014
ERY (Energy Sector Bear 3x ETF): XLE Bearish Watchlist
Reason:
XLE has failed to carry out a thrust following a Triangle.
This failure has turned a bullish pattern into a bearish one with a potential Double Top, which has a theoretical target at 83.74
I don´t have an entry price yet so I will see how price behaves today. Ideally I would go short on a rebound towards the 10 dma
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