Financial Iceberg

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TECHNICALS

US Technical Charts Potpourri
August 13 2017 ( From TradingView, CNN Money )

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The SP500 Index made a Daily Shooting Star on August 8 (not shown here);
it was an early signal of of a potential correction in the stock market.

Some Weekly Technical Charts and Short Comments on US financial products:
1) SPY ETF (SPDR S&P 500 ETF) New High Ever. Strong Rejection of the
Resistance of a Weekly Rising Wedge Technical Pattern on higher trading
Volume.. (See first chart below - Channel + Red trendlines)

2) VTI ETF (Vanguard Total Stock Market ETF) comprised of 3 606 US Stocks
(Total Market Index) Rejected strongly the previous Weekly breakout
Trendline. (See second chart below - Top Grey Trendline). Into Rising Wedge.

3) QQQ ETF (NASDAQ - 100 Index) Still Into a Weekly Uptrend Channel that
started in December 2016. (See third chart below - Channel).

4) Apple Shares (AAPL) broke 10 weeks ago the previous Weekly Breakout
Trendline. (See fourth chart below - Right - Red Trendline) Becomes Major
Resistance Trendline that Bears need to protect at all costs. Second test of
of that Resistance since Breakdown. Breakout of a Weekly Megaphone. (Grey Trendlines) and Doji Candle.

5) DXY Index (US Dollar Index) broke 15 weeks ago the Support Trendline (See fifth chart below - Grey Trendline) and broke 13 weeks ago the Weekly Falling Wedge Support (Red Trendlines). Still into a Weekly Downtrend Channel. Testing the Previous Weekly Breakout Trendline (blue).

6) TLT ETF (iShares 20+ Year Treasury Bond ETF) Still Into a large Weekly Rising Channel. (See sixth chart below - Channel) Back above the 52 WMA (Weekly Moving Avg-green line).

7) VIX Index (SP500 Volatility-CBOE) Broke Violently a Weekly Falling Wedge that started since August 2015. (See seventh chart below - Grey Trendlines).

8) Copper Futures (HG2-COMEX) broke 11 weeks ago a Weekly Resistance Trendline of a Downtrend Channel. Now into a Weekly Rising Wedge. (See eight chart below-Yellow Trendlines) Highest Level since May 2015.

9) Light Crude Oil Futures (CL2-NYMEX) Still into a Weekly Uptrend Channel that started since June 2017.
(See ninth chart below -Channel).

The SP500 Index (SPY ETF) was looking for a reason for a correction (North Korea) but few of us realize that we were within a bear seasonalities time frame.

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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