Hey Traders, Here is a quick update of bullish sentiment and NYSE stocks above 200ma. Both of those indicators are at the very least at 3 years highs: While I will continue to focus on technical levels described in previous updates, I would rather miss the next move up, whatever it might be than chase…
Category: Daily
Daily market analysis
Weekend Market Analysis Aug 2nd Week
Hey Traders, SP500 has now rallied over 50% finding itself in a very interesting place, with bullish sentiment at all time record bullishness: and also right at 38% retracement of the whole bear market which also happened to be the backtest of two previous channels, which have stopped this rally at least on Friday: Sentiment,…
Weekly Dollar and Euro Analysis
Hey Traders, some incredible currency moves last Friday. Dollar has clearly has been in steep downtrend helping fuel the recent rally. After breaking down below two yearly lows for the dollar, it managed to close back above that support, with incredible bearish sentiment on the dollar with only ~3% dollar bulls earlier this week, the…
All Up To the Job Numbers Tomorrow
Hey Traders, Not many new developments in the markets today, regardless of higher high and lower low being made. The resistance level still remains the big 1014 – 38% retracement of the bear market, along with backtests of two previous trendlines: With intermediate term resistance level being retracement zone from the highs – ES 998.75,…
ES Support Levels and Sentiment
Hey Traders, I got all the rants out of my system in Victory for the Bears? post at the close, now a short sweet and to the point TA post. Bullish sentiment set a new high today, levels that have not been seen in at least 3 years, if ever (stockcharts doesn’t go far enough…
Victory for the Bears?
Victory for the bears certainly has a pinch of sarcasm to it, but bears which have been completely wiped out and taken to the woodshed will now have to cling onto something via the “less bad” method, as bulls did since March. Bears managed to hold ES down a whopping 4.00!!! In the face of…
Extreme Sentiment and Key Levels
Hey Traders, Today bullish sentiment has reached the level last seen in Feb 2007: Every intermediate term high was made since the bear market began was made on much less bullish sentiment. While we have received a crash course in not fighting momentum of panic buying public and fund managers and that well remain the…
Daily SP Emini Update
Hey Traders, new highs were set today on SP500 and coveted 1000 mark was captured on both Case SP500 and emini ES futures index. So what now? Big picture did not change one bit, for weekly and monthly charts, check out yesterday’s monthly analysis. It has been clear that market momentum and panic / performance…
Monthly Market Analysis
Hey Traders, one of most historic months in market history is behind us, while I mostly trade off of 377tick & hourly charts, it is important to know where things stand in the bigger picture, so lets throw all the bias out the windows, rewind things 40 years back and take a look at monthly…
Quick Market Update
Hey Traders, Today’s dailys ended in a big shooting star after a gap up, with pro-gap (unfilled gap down) being a serious hint at near term move exhaustion. Near term will be watching theses support level with 3 week trendline being back in play again: On the upside minor resistnace expected at 50% retracement from…