Tag Archives: Doji
BULLS HAVE BEEN SAVED ONCE AGAIN The sell signals discussed in my last weekly update have not materialized. Instead SPX continues to resist with boldness establishing new ATH.
DAILY HARAMI AND WEEKLY DOJI ARE SUGGESTING THAT BULLS CAN REGAIN THE UPPERHAND Negative divergences, SPX displays 3 higher highs on May 22, August 2 and September 19 while weekly momentum and breadth indicators have lower highs, are the major … Continue reading
WAITING FOR EVIDENCES OF A BOTTOM Three major assumptions:
I EXPECT MORE UPSIDE BUT A LOWER HIGH SPX ended the week with a Harami candlestick which strengthens the probability that the down leg from the August peak has run its course and price is now embarked in a countertrend … Continue reading
THE TREND REMAINS DOWN OR SIDEWAYS The month of June ended with a Doji candlestick, with price recovering from a drop below 1576 (Former resistance now support). It can be considered a noteworthy achievement of the bulls given the previous … Continue reading
I REMAIN SCHEPTICAL BUT GOOD THINGS CAN HAPPEN WHEN THE MCCLELLAN OSCILLATOR IS ABOVE THE ZERO LINE I remain sceptical that price has already established the bottom of the correction from the May 22 high but I have to remain … Continue reading
NO CHANGE – THE PATTERN IS CORRECTIVE BUT NOT OVER. THE BEARISH CROSS OF THE WEEKLY MACD SUGGESTS FURTHER WEAKNESS AHEAD Given the internal structure of the decline from the May 22 high, SPX remains vulnerable of embarking in a … Continue reading
KEY TIME Yesterday we got the expected small range body, a text book Gravestone Doji, with the high of the day almost at the 0.786 retracement.
SELL THE RIP I maintain the call of a “temporary” top (pending confirmation with a daily lower high)
IT IS A COUNTERTREND REBOUND Daily momentum indicators have substantially improved: RSI has broken a long term trend line resistance (Next resistance at the 50 line) and we have bullish crosses on both the stochastic and MACD