Markets didn’t react well to the Fed rate cut or the words of Jerome Powell, although today’s selling didn’t kill the breakouts, it did leave them under pressure.The S&P undercut its 20-day MA and only tagged breakout support of 2,953 but volume did rise in confirmed distribution. Today’s action undercut the signal line in on-balance-volume and generated a sell trigger in ADX.It was similar story for the Nasdaq with an undercut of the 20-day MA, although the spike low did undercut 8,175. There was a new ‘sell’ trigger for On-Balance-Volume.The Russell 2000 also had a wild day but remained inside its rising channel. Unlike the S&P and Nasdaq it still holds to its MACD trigger ‘buy’ which protects it from the … [Read More...]
Bank Nifty falls 700 points on time cycle date
As Discussed in Last Analysis We are back to gann angle support as shown in below chart, BUlls now need to move above 27850 for a move back to 27990/28100. Bears will get active below 27666 for a move back to 27500/27333. Very Important time cycle date tomorrow. High made was 27690 and once below… Read More » The post Bank Nifty falls 700 points on time cycle date appeared first on Bramesh's Technical Analysis. [Read More...]
That Amazing Line
FEEDOne of these days, I’m going to trust my own drawings more. This morning, I woke up to yet another annoying rally (and, yes, that’s a word I use a lot these days). Based on absolutely nothing, the market was pushing higher and higher, and it actually spiked after the opening bell. I noticed, however,Read More 0 Comments [Read More...]
Dow heads higher, shrugging off recession warning sign
The Dow and US stocks headed higher Thursday, despite the bond market once again flashing warning lights that a recession could be coming. Investors are eagerly awaiting Federal Reserve Chairman Jerome Powell’s speech in Jackson Hole on Friday, as they search for direction about the future of US monetary policy. The 2-year and 10-year Treasury yields inverted just before Wednesday’s closing bell. This means that the shorter-dated bond yielded more than the longer-dated one. It was the second time it happened this month, and an inverted yield curve has preceded each recession in the modern era. Bond yields rose Thursday morning, easing investors’ attention. The 10-year yield last sat at 1.6046%. The minutes of the Fed’s July meeting showed that the Fed … [Read More...]
EUR/USD holds in range, hovering slightly below 1.1100
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Morning Charts 08/22/2019 SPX
I’m a bit overdue to go on another ‘nothing means a damn thing, it’s all fake, protect yourself’ rant – but not today. I think my regulars get it. There are still a few drifters and noobs from time to time that need a good awakening.Simple post today -Control. Nanny State. Orwellian nightmare. It’s coming here. Hell, it’s already here for the most part you just don’t see it or deny it. Look at it this way – the next election the democrats win. The Constitution is gone and that’s end game. The UN takes over and POOF! Globalism Hunger Games scenario is what’s left.https://www.zerohedge.com/news/2019-08-21/green-new-deal-less-about-climate-more-about-controlOn to the lie -Dead nuts mid range resistance of … [Read More...]
Dollar slips as Jackson Hole meeting gets underway; focus on Powell’s speech
The dollar weakened on Thursday as investors braced for a possible announcement or statement from the Federal Reserve at this week’s Jackson Hole, Wyoming event that would help address the worsening global economic outlook. Market participants expect the Fed announcement could be a stimulus measure, or an affirmation that the U.S. central bank is on a steady path to ease interest rates, a scenario viewed as negative for the dollar. Fed Chairman Jerome Powell will speak on Friday and expectations are building that he will clarify Fed minutes released on Wednesday and deliver a dovish speech that would soothe market worries about the prospect of recession. The Fed’s latest minutes confirmed a growing view that U.S. policymakers are reluctant to begin a big rate-cutting … [Read More...]
FTSE 100 Price Outlook: Sellers Trying to Gain the Upper Hand Again
The FTSE is relatively weak when compared to other major indices and postured for lower prices as an uninspiring bounce plays out. [Read More...]
14th day of $QQQ short term down-trend but QQQ is showing some resilience
IndicatorsGMI: 3/6GMI-2: 5/8T2108: 39%In spite of the short term down-trend, the QQQ has now closed above all 12 daily averages in my RWB chart (not shown). This weekly chart shows that QQQ is holding above its 30 week average (red line, Stage II) and is just below its 10 week average (purple dotted line). A close above this average (189.41) would be a significant show of technical strength. With the QQQ and SPY still in a Stage II up-trend, I remain invested in my long term pension mutual funds, but not in my shorter term trading accounts. [Read More...]
Gains Consolidate in Markets
Friday’s action was positive because so little happened. Markets had spent the first half of June rallying off lows, but last week was one where indices consolidated the gains. Not all indices were equal, but the effect was the same.The S&P closed with a doji – a doji which held above 50-day MA support. Volume declined in line with the consolidation; a positive behavior. Technicals are still net positive. Action points to a probable follow through higher and a challenge of the 52-week high of 2,954.The Nasdaq is hanging around its 50-day MA, but is running a little closer to its recent lows. If there is a pop lower, look to the Fib retracements between 7,547 and 7,685 to trigger buying.The decent gains in the Russell 2000 on … [Read More...]
Harmonic Trading for Stocks
Century Textile Positional Traders can use the below mentioned levels Close above 844 Target 878/898 Intraday Traders can use the below mentioned levels Buy above 844 Tgt 850,857 and 867 SL 840 Sell below 830 Tgt 822,815 and 807 SL 836 Hind Petro Positional Traders can use the below mentioned levels Close above 240 Target… Read More » The post Harmonic Trading for Stocks appeared first on Bramesh's Technical Analysis. [Read More...]
Wall Street Target’s Lowe-hanging fruit
Prepared by Jeff Halley, Senior Market Analyst Wall Street rallied overnight as traders ignored some very obvious discord on the path of rate cuts from the FOMC Minutes, concentrating on sparkling results from big-box retailer Target, and home improvement retailer Lowe. Both produced sparkling results following on from Walmart last week and saw their shares jump massively in New York trading. The U.S. existing home sales for July came in above expectations at 2.50% as mortgage rates tracked lower. Internationally, Thailand’s exports staged a recovery yesterday, rising 4.28% y/y for July and even Argentina had a pleasant surprise for everyone. Its balance of payments rose to $951 million against a consensus of $684 million. The only blot on the copybook was the Congressional … [Read More...]
Introducing Highs & Lows
FEEDThe Slope of Hope truly has its rhythm back, introducing, almost without exception, a new product or feature every weekday. Today I am pleased to announce the release of a suite of new index charts derived from our own database in the form of New Highs and New Lows. The symbols are easy: $NEWHIGHS: $NEWLOWS:Read More 0 Comments [Read More...]
Morning Charts 07/31/2019 SPX
Q on fire last night.[24hr Warning]Be vigilant.See something.Say something.Know your surroundings at all times.QThat and he/she went after the friggin Pope. https://qmap.pub/ and O and HRC! Used words like Biblical. Bigtime highlighting child trafficking. See all my tweets in link below.And now operation Crossfire Hurricane is being exposed. For those that do remember a year ago when I was sharing the George Webb videos – yes, that op. https://twitter.com/neverherorhim/status/1156429660512821248?s=21After debate last night they are done. Now Dumbocrats.Holy crap. Is it time for the STB ‘event’ called for so many years ago? In other news -Drug resistant super bug? https://www.zerohedge.com/news/2019-07-30/drug-resistant-superbug-spreading-throughout-european-hospitalsI was … [Read More...]
Eurozone PMIs in focus in the day ahead – Rabobank
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Asia PMIs below forecast
A taste of things to come? PMI data out of Japan and Australia came in below forecast in August. The Australian manufacturing PMI published by both Commonwealth Bank and Markit slowed to 51.3 from 51.6 in July, but the composite reading slumped below 50 to 49.5 due to a massive under-performance by the service sector. The Japanese equivalent did manage a slight improvement from July, hitting 49.5 from 49.4, but it was below economists’ estimates of an improvement to 49.8. It still means that the manufacturing PMI has been below the 50 contraction/expansion threshold for the past seven months. Will this be a predictor of what is to come out of Europe and the US later today? Equities consolidate yesterday’s surge The positive momentum into yesterday’s close on Wall Street didn’t extend into… [Read More...]
Japanese Yen Stays On Defensive As Markets Await Jackson Hole
The Japanese Yen has seen a fightback from more pro-cyclical assets this month.That has paused however, probably as markets await views from the world’s monetary monitors [Read More...]
Small Gains Continue Market Consolidations
Not a whole lot offered by indices, but what was offered had more bullish overtones than negative.The Nasdaq continued with its shaping of a bullish handle. Volume climbed a little in registering an accumulation day. The index still has to put some distance from its 50-day MA but once it does and mounts a challenge on April highs it could really pick up momentum. On a more subtle note, there was an uptick in relative performance.The S&P traded a very narrow range but relative performance versus the Russell 2000 is still good.The Russell 2000 continued its back-and-forth; it’s the only index not to trade a narrow range day, but neither has it managed to break out of its consolidation. It does have considerable … [Read More...]
Nifty
FII sold 339 contract of Index Future worth 137 cores, Net OI has increased by 11.9 K contract, 5.8 K Long contract were added by FII and 6.1 K short were added by FII. Net FII Long Short ratio at 0.42, So FII used fall to enter longs and enter shorts. As Discussed in Last… Read More » The post Nifty appeared first on Bramesh's Technical Analysis. [Read More...]
Italy Political Drama Could Lead to 3 Scenarios
Italy’s fresh political crisis has left investors contemplating how to trade its sovereign bond market which has seen significant volatility over the last few months. ”(It’s) close to impossible to make political predictions. The situation is very unusual, (there’s) no precedent,” Francesco Papadia, a senior fellow at the think tank Bruegel and former official at the Bank of Italy, told CNBC’s “Squawk Box Europe” Wednesday. Rome’s two-party coalition came to an abrupt end Tuesday after Prime Minister Giuseppe Conte resigned from his post following pressure from the right-wing Lega party. President Sergio Mattarella will hold consultations with various parties in Parliament in the coming days to see whether there is a working majority which would avoid the need for fresh elections. Amid the uncertainty, … [Read More...]
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