Futures are sagging after powering through another key Fibonacci level. At this point, the only question is whether or not we see a backtest. With OPEX coming up tomorrow, it’s unclear whether we could get a full backtest of the .786 at 4534.63. continued for members… … continue reading →
Tag Archives: harmonics
EURUSD tagged our 1.1273 target overnight. It came a little earlier than expected, but it’s a significant development given the pair’s correlation with stocks.continued for members… … continue reading →
Futures are off slightly on low volume on a slow news day. Some significant Fibonacci levels have been reached, however, setting up potential large moves in equities. continued for members… … continue reading →
“I can’t believe stocks rallied so strongly into options expiration!” said no one. Between VIX’s plunge, the euro’s ramp, and the yield curve’s decimation, bears have had no chance – even as fundamentals argued otherwise. continued for members… … continue reading →
The prop job continues, with VIX reaching a lower low and the DXY still under pressure. continued for members… … continue reading →
The market has frustrated both bulls and bears lately, vacillating between sharp downturns and even sharper recoveries. But, a close examination of the charts shows two very obvious patterns that suggest the tide is about to turn – not in a good way. continued for members… … continue reading →
Futures are essentially flat ahead of today’s pivotal FOMC decision and press conference. This follows a day that saw stock prices plunge below our initial backtest target……as VIX actually broke out – at least for a few hours. The banking crisis obviously hasn’t gone away. How many more First Republics or Silicon Valley banks are … continue reading →
Futures are off about 30 points on disappointing earnings from stocks such as TSLA, AXP, KEY, etc. and a continuing slump in oil and gas. VIX is even popping as we approach the open. If it holds, the rollover in equities will have officially begun. continued for members… … continue reading →
Futures have dropped back through the 50-day moving average, putting the 200-day back in focus after yesterday’s near miss. We’re essentially in the same situation as yesterday except that we’re jumping off from a much lower level. continued for members… … continue reading →
Yesterday marked the second day in a row of sharp declines in the equity markets following the 200-day moving average backtest and the passing of OPEX.There’s more where that came from. continued for members… … continue reading →