Death throe candle = 5th wave exhaustion Nicely spotted, cat Back in the day when I traded individual equities, I used to have access to pattern recognition software that spotted stocks in the 4th wave sideways consolidation. Placing a buy ...

US and Euro stocks mounting one more rally before crashing?

Good morning, Captain I concur with your analysis, and that scenario may very well play out. As this is FOMC day, and I'm taking a day off, let me speculate that another scenario may play out. So far the Dow has followed a classical wave ...

US and Euro stocks mounting one more rally before crashing?

Not so weird in my view. There was solid selling at 3pm, then a failure to break above the high half an hour later. See url

US and Euro stocks mounting one more rally before crashing?

Once again, Thursday's highs provided resistance. I entered short at 15.30 and held for half an hour and 140 points. With the MAs converging and FOMC tomorrow evening, I have a feeling that price action will be less exciting for the next 24+ hours. ...

US and Euro stocks mounting one more rally before crashing?

Good morning Yes, at the same time technicals rule. There won't be any serious move down before SMA200 on the hourly has rolled over.

US and Euro stocks mounting one more rally before crashing?

Agreed, the downside seems more likely. But very sluggish at the moment. Time for a walk in the sun And here's an interesting piece from CME this morning: ...

US and Euro stocks mounting one more rally before crashing?

Good to see you too, Captain Completely agree And under Thursday's highs...

US and Euro stocks mounting one more rally before crashing?

Thank you. There are signs of potential exhaustion in DJI as well - a harmonic pattern forming under a key level, together with Money Flow Index (volume-weighted RSI) divergence More simply put, there's been more selling than buying this week, yet ...

US and Euro stocks mounting one more rally before crashing?

Yes there's a lot of gobbledegook purported as "Elliott Wave Theory", I agree. But there are some genuine insight underneath. I learned the little I know from Tony Plummer's Forecasting Financial Markets - a brilliant book by a market practitioner. ...

US and Euro stocks mounting one more rally before crashing?

Agreed. It may be weeks or months before another serious sell-off.Taking a simple-minded look at the S&P 500, it has conquered the support level from before the December sell-off, as well as the SMA50. The October sell-off was a break of SMA50, and ...

US and Euro stocks mounting one more rally before crashing?

For those who haven't noted, DJI (and S&P 500) have broken out of a rising wedge. That seems to suggest that the correction to the upside is over, and that more chaotic price behaviour can be expected.

US and Euro stocks mounting one more rally before crashing?

I also have other MAs on, such as SMA20. See how it guided DJI yesterday, for example. And at today's top SMA20 was beneath SMA50 - not a case for being bullish.

US and Euro stocks mounting one more rally before crashing?

SMA50 was pointing down, and so was the Bollinger band - a natural resistance level. You may want to check action around Boll50 historically. These levels should be watched, in my experience.

US and Euro stocks mounting one more rally before crashing?

The high today was the upper 50 period Bollinger band on the hourly...

US and Euro stocks mounting one more rally before crashing?

And so do I.

US and Euro stocks mounting one more rally before crashing?

So far only a technical move down to SMA100 on the hourly for DJI, situated under the 50 period lower Bollinger band. Let's see what happens after the lunch period.

US and Euro stocks mounting one more rally before crashing?

"Markets are in critical transformation": url

US and Euro stocks mounting one more rally before crashing?

Food for weekend thought from some professionals: url and video

US and Euro stocks mounting one more rally before crashing?

So tell us about a winning mindset, please.

US and Euro stocks mounting one more rally before crashing?

So far so good. Bull trap above the open. I'm short from 12 points above with stop at BE. Let's how it goes.

US and Euro stocks mounting one more rally before crashing?