FINANCIAL ICEBERG
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US Technical Charts Potpourri
May 06 2018 ( From TradingView, CNN Money )
May 06 2018 ( From TradingView, CNN Money )
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The SP500 Index still into a Strong Price Compression Phase.
Expect tremendous financial assets volatility when broken.
Some Weekly Technical Charts and Short Comments on US financial products:
1) SPY ETF (SPDR S&P 500 ETF) Still Into a Weekly Downtrend Channel and
into a strong Price Compression Phase. (See first chart below - pink)
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 31 weeks ago. That become the Major Support Trendline tested again
1 week ago. (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). Broke 4 weeks ago a Weekly
Downtrend Channel. Testing Resistance Trendline (pink).
4) Apple Shares (AAPL) Broke 15 weeks ago a Weekly Rising Wedge Technical
Pattern Support Trendline. (See fourth chart below - Right - Red Trendlines)
Weekly Shooting Star 8 weeks ago (ellipse). Back last week into a Weekly
Rising Wedge (pink).
5) DXY Index (US Dollar Index) Broke last weekthe Major Resistance Trendline from a Weekly Falling Wedge. (See fifth chart below - Red Trendline)
6) TLT ETF (iShares 20+ Year Treasury Bond ETF) Broke 16 weeks ago a Weekly Rising Wedge Support Trendline. (See sixth chart below - Red Trendlines) Back below 3 weeks ago the Major Weekly Rising Wedge Support (blue-from Feb 2011). Still Into a Weekly Falling Wedge (pink trendlines)
7) VIX Index (SP500 Volatility-CBOE) Broke 14 weeks ago a Weekly Falling Wedge Technical Pattern. Started the new Volatility Phase. (See seventh chart below - Grey Trendlines). That trendline become weekly support.
8) Copper Futures (HG2-COMEX) Into a weekly Downtrend Channel. (See eight chart below-Channel) Broke the previous Rising Wedge Support (yellow) 7 weeks ago.
9) Light Crude Oil Futures (CL2-NYMEX) Still into a weekly Uptrend Channel (See ninth chart below -YellowTrendlines).
The weekly VIX chart confirmed 14 weeks ago that we are getting into a more volatile trading environment.
Interest sensitive stocks under tremendous pressure. The buy the dip mentality is still strong and will become costly to investors. Buyback stocks still holding that market for now.
Expect tremendous financial assets volatility when broken.
Some Weekly Technical Charts and Short Comments on US financial products:
1) SPY ETF (SPDR S&P 500 ETF) Still Into a Weekly Downtrend Channel and
into a strong Price Compression Phase. (See first chart below - pink)
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 31 weeks ago. That become the Major Support Trendline tested again
1 week ago. (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). Broke 4 weeks ago a Weekly
Downtrend Channel. Testing Resistance Trendline (pink).
4) Apple Shares (AAPL) Broke 15 weeks ago a Weekly Rising Wedge Technical
Pattern Support Trendline. (See fourth chart below - Right - Red Trendlines)
Weekly Shooting Star 8 weeks ago (ellipse). Back last week into a Weekly
Rising Wedge (pink).
5) DXY Index (US Dollar Index) Broke last weekthe Major Resistance Trendline from a Weekly Falling Wedge. (See fifth chart below - Red Trendline)
6) TLT ETF (iShares 20+ Year Treasury Bond ETF) Broke 16 weeks ago a Weekly Rising Wedge Support Trendline. (See sixth chart below - Red Trendlines) Back below 3 weeks ago the Major Weekly Rising Wedge Support (blue-from Feb 2011). Still Into a Weekly Falling Wedge (pink trendlines)
7) VIX Index (SP500 Volatility-CBOE) Broke 14 weeks ago a Weekly Falling Wedge Technical Pattern. Started the new Volatility Phase. (See seventh chart below - Grey Trendlines). That trendline become weekly support.
8) Copper Futures (HG2-COMEX) Into a weekly Downtrend Channel. (See eight chart below-Channel) Broke the previous Rising Wedge Support (yellow) 7 weeks ago.
9) Light Crude Oil Futures (CL2-NYMEX) Still into a weekly Uptrend Channel (See ninth chart below -YellowTrendlines).
The weekly VIX chart confirmed 14 weeks ago that we are getting into a more volatile trading environment.
Interest sensitive stocks under tremendous pressure. The buy the dip mentality is still strong and will become costly to investors. Buyback stocks still 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
-Sun Tzu, the Art of War
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