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Next target 1.2250 expected in May $eurusd.
Inverse H&S and strong US econ data gives some hope this is just a correction.
Bearish Divergence in $dji weekly. Close below 50% last week is key, 9435 eyed.
Watching a Death Cross in the works in $spx H4 2/25/10
Overbought MACD in the weekly on $spx suggests consolidation ahead.1/22/10
MACD is still clearly very bullish in the longer term on a monthly cycle.
Close above the 50% fib of `07-08 cycle on weekly in $spx,1220 eyed.12/28/09
This chart shows $spx has broken some major trendlines & working on 50% fib.12/14/09
We have a decision point coming up in $spx daily, prob in Jan.11/24/09
1070 & 1124 in $gold was spot on.11/15/09
1030 sup. in $spx turned out to be spot on.11/15/09
1030 support is nearby now.Here is a pic of the bearish div in $spx daily I mentioned before.10/28/09
Glittering Gold targets key 1070 area:
Politicians continue to ignore the advice of fringe and mainstream economist from cnbc to twitter, and gold tells the tale as the market reaches key technical and psychological decision point.
I have been jumping up and down on this blog all year about the dereliction of the politicians in Washington. Now gold has soared to nearly 1070 an once. This area is going to be key:
As we can see by the chart 1124 will be the next target if 1070 clears and holds. I will be watching this level and many other factors like oil, earnings and any major fundamental events that might develop. Right now the dollar is being dumped and that’s the fact we all have to live with.
Were in an upmove now in $spx. Looks like a 4th wave.
$eurusd appears to be staying in an uptrend.
Like the $spx, $eurusd cant decide to form a bear divergence.Will 09/22/08 high do the trick?
Updated chart of $spx
Bear Div in play, but dont think it will be a big sell off.
Will be watching for potential Bearish Div to develop in $spx.
1.4863 target is in play in $eurusd.
Updated chart of Inverse H&S forming. Bullish longer term in $gold.(weekly & monthly)
Looking for a retest of the 14 EMA , 38.2 Fib & Trendline in $eurusd.
$eurusd has a solid base to attack 1.4717 & 1.4863 from this time.
Updated big picture view of the $spx showing the Golden Cross, Bullish Divergence,and break of the 38% fib. The 50% fib is now in play.
Big picture view of $spx with a new h&s forming.
We have had a break of the 38.2% in $spx at last. So lets roll!
Golden Cross in $spx is official now. We could see a Death Cross again b4 this works out.
Updated $spx chart with some arrows painted in for next week.
Big Picture view of $spx w/bullish div & Golden Cross + break of 38.2% fib res of current cycle all in play.
H&S formation in $gold weekly is bullish longer term.
H&S formation in $gold 4hr is bearish short term
Two H&S patterns in $DJI daily(one an inverse h&S)suggests a play for the 200ma might be in the works.
The smaller of two H&S patterns pointed out in prev updates in $dji is shaping up nicely. Bearish potential now in stocks. $$ #forex #mkt
The multiple h&s patterns continue to play out well in my chart analysis of $dji. #mkt #forex #stocks
Inverse h&s possibly playing out in $dji
This continuing analysis in $dji is either dumb luck or some hidden talent I still have not quite grasped.
The h&s analysis is playing out beyond my best expectations. I expect some retracement from the 200ma. If not then it looks like a good pop to the north is in order.
A close up of the continuing $dji canvas.
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