Thursday, June 23, 2016

If it's all about OIL; then another Reversal a Sign pre- BREXIT for Risk Assets?

WTI Daily Chart @ Close 06/22/2016
Previous Daily Reversal (Outside- Down Day) witnessed 2 Weeks back signalled a Correction of sorts....to $46.40.
Yesterday's Reversal may well  do the same ahead of the BREXIT Decision later today.
If so; then the 38.2% retrace from $35.24 looms @ $45.40 with the coincident 61.8% of such & larger retrace (0.382 from the $26.05 Low) @ $41.51/ 88 respectively.
Either one of the 3 retrace Levels keeps the Bull Market in Crude 'flowing' for the moment.
Let's see how this plays out.

Wednesday, June 1, 2016

NDX100 Gap @ 4523 Closed amid a 'flurry' of Daily REVERSALS elsewhere.........

NDX100 Daily Chart @ Close 05/31/2016
Gap #1 CLOSED @ 4523 with the January GAP still there for the Closure......BUT First amid a flurry of Daily Reversals in many indices (SPX/ OEX/ NY/ NYA/ DJIA).... ALL posting Outside- Down Days....perhaps a short/ sharp Correction (2- 3%) before the Final Assault (for the NDX100) upon the 4593 Gap that ultimately 'seals the deal'; after which......?

Monday, May 30, 2016

NDX100 in pursuit of the 4593 Gap?

NDX Daily Chart @ Close 05/27/2016
Ability to hold 'the line' amid a 38% retracement of gains from 3888.78 now sees a Rally unfold seemingly intent on Closing both the immediate Gap left Open April 21 @ 4523 post the Reversal witnessed April 19 with an Outside- Down Day.
Beyond that lies the 4593 GAP left Open once 'batting' began January 4 & the ensuing near collapse amid China/ Commodity/ FANG woes.

Thursday, May 5, 2016

NDX100: US Equity Market Rally 'pause' in effect; how much more to go?

NDX100 Daily Chart @ Close 05/04/2016
Raft of Resistance basis the Benchmark S&P500 @ 2080/ 2116/ 2134 finally 'got their man' with a High @ 2110 & then this reversal of sorts.
Basis the NDX100; 38% of gains from the February Lows now surrendered.
What appeared to be an inevitable Buy Cross on the much followed 50/200day SMAs could well turn 'sour' on matters & 'compress' with this Index failing to muster a Weekly Close back above (4410).
Let's see.

Sunday, April 17, 2016

S&P500 into the Resistance Zone with potential Signs for a Reversal......OR not.

S&P500 Weekly Chart @ Close 04/15/2016
3 Weeks since the Outside- Down Day that heralded only a pause in the Rally; that said and we are not even 2% higher since.
Raft of overhead Resistances now 'front & centre' between 2104/ 2116 & the Record 2134 Highs.
Rare Tom deMark Set- Up in play (see chart notes) potentially the Signal that aggressive types should have their 'pencils' sharpened this Week.