Tag Archives: Inverted Head & Shoulder
I EXPECT A PULLBACK Bulls are pushing through the trend line of the assumed Ending Diagonal. If next week price is not rejected at the weekly upper Bollinger Band the discussed Ending Diagonal will be most likely invalidated.
A SHORT TERM BOTTOM IS POSSIBLE BUT THE CORRECTION IS LIKELY NOT OVER Yesterday´s solid performance (Monday´s gap down has been closed) following Monday´s Hammer is inductive of a potential bottom (In my opinion the wave A of a Zig … Continue reading
THE PATTERN FROM THE SEPTEMBER 19 HIGH IS NOT OVER An Engulfing candlestick has followed the “FOMC” weekly Shooting Star. It could have got worse if bears would have achieved to close the weekly gap at 1687.99 However despite the … Continue reading
THE SHORT-TERM LOW IS DOUBTFUL Despite ending the 5 consecutive days of losing streak, yesterday´s candlestick, a shooting star, suggests that bulls do not have much confidence in the sustainability of a bounce.
SPX: ANOTHER DOWN LEG SEEMS IMMINENT Yesterday bulls failed to materialize a bullish set up.
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
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
BULLS HAVE REGAINED THE UPPERHAND. A NEW ALL TIME HIGH IS PROBABLE BUT I DON´T EXPECT A MAJOR BREAK OUT. Today I fill sick so I am posting a brief weekly update. The bullish arguments discussed last Thursday have proved … Continue reading
I MAINTAIN UNCHANGED THE CALL OF A TEMPORARY TOP Therefore my strategy is to sell the rip.