Financial Iceberg

FINANCIAL ICEBERG

Always consider hidden risks

TECHNICALS

US Technical Charts Potpourri
Marrch 4 2018 ( From TradingView, CNN Money )

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The SP500 Index had a triple whammy last week; 1) New FED Powell quite
hawkish 2) Potential Trade War after Trump s comments 3) BOJ already
into the planning of exiting QE.

Some Weekly Technical Charts and Short Comments on US financial products:
1) SPY ETF (SPDR S&P 500 ETF) Broke 9 weeks ago the Major Weekly
Resistance from a Rising Channel. (See first chart below - yellow trendline)
Back testing the Resistance that Bulls failed to break.

2) VTI ETF (Vanguard Total Stock Market ETF) comprised of 3 638 US Stocks
(Total Market Index) Broke the Resistance of a Weekly Rising Wedge Technical
Pattern 22 weeks ago. That become the Major Support Trendline.
(See second chart below - Top Yellow Trendline).

3) QQQ ETF (NASDAQ - 100 Index) Still Into a Weekly Megaphone Trading
Pattern. (See third chart below - red trendlines). Huge tech Outperformance.

4) Apple Shares (AAPL) Broke 6 weeks ago a Weekly Rising Wedge Technical
Pattern Support Trendline (red). Back 3 weeks ago into the bigger Weekly
Megaphone Trendline. (See fourth chart below - Right - Grey Trendlines)

5) DXY Index (US Dollar Index) Strong Skirmish at the Major Support Trendline from a Weekly Falling Wedge, and got back above 2 weeks ago. (See fifth chart below - Red Trendline)

6) TLT ETF (iShares 20+ Year Treasury Bond ETF) Broke 7 weeks ago a Weekly Rising Wedge Support Trendline. (See sixth chart below - Red Trendlines) Broke 4 weeks ago a Major Weekly Rising Wedge Support (blue-from Feb 2011). Bears need to protect that trendline (now resistance).

7) VIX Index (SP500 Volatility-CBOE) Broke 5 weeks ago a Weekly Falling Wedge Technical Pattern. (See seventh chart below - Grey Trendlines). That trendline become weekly support.

8) Copper Futures (HG2-COMEX) Into a weekly Uptrend Channel. (See eight chart below-Channel)

9) Light Crude Oil Futures (CL2-NYMEX) Still into a weekly Uptrend Channel.
(See ninth chart below -YellowTrendlines).

The weekly VIX chart confirmed 5 weeks ago that we are getting into a more volatile trading environment.
The buy the dip mentality is strong and investors ignored the last inflation data. Technology stocks outperforming tremendously the SP500. Buyback stocks are holding that market for now.

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"To fight and conquer in all your battles is not supreme excellence; supreme excellence consists in breaking the enemy's resistance without fighting."

-Sun Tzu, the Art of War

The Trump Experiment - Financial Markets $SPY #sp500 #usdollar #bonds #gold #stocks #investing #trading #spy #dxy #aapl #copper #vix

Weekly Chart ( Candles )
TLT ETF ( iShares Year Treasury Bond ETF )
Volume ( Bottom Blue Area )

Financialiceberg.Com

Weekly Chart
SP500 Index ( SPY ETF - Top Panel - Candles )
SPY ETF Volume ( Bottom Panel - Blue Area )

Weekly Chart ( Candles )
Copper Futures ( HG2 )
Volume ( Bottom Blue Area )

Financialiceberg.Com