FINANCIAL ICEBERG
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US Technical Charts Potpourri
April 15 2018 ( From TradingView, CNN Money )
April 15 2018 ( From TradingView, CNN Money )
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The SP500 Index into a dead cat bounce phase as the trade war perceived
risk recede last week. Expect tremoudous financial assets volatility.
US Political Risk Index at a 15 year high.
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 - yellow)
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 28 weeks ago. That become the Major Support Trendline tested again
last week. (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). New High rejected 5 weeks ago
with a Weekly Shooting Star. Broke last week a Weekly Downtrend Channel.
4) Apple Shares (AAPL) Broke 12 weeks ago a Weekly Rising Wedge Technical
Pattern Support Trendline. (See fourth chart below - Right - Red Trendlines)
Weekly Shooting Star 5 weeks ago (ellipse). Into a Weekly Rising Wedge.
5) DXY Index (US Dollar Index) Strong Skirmish at the Major Support Trendline from a Weekly Falling Wedge, and got back above 8 weeks ago. (See fifth chart below - Red Trendline) Still into a Weekly Downtrend Channel.
6) TLT ETF (iShares 20+ Year Treasury Bond ETF) Broke 13 weeks ago a Weekly Rising Wedge Support Trendline. (See sixth chart below - Red Trendlines) Back above 3 weeks ago the Major Weekly Rising Wedge Support (blue-from Feb 2011). Bulls need to protect that trendline (now support). Into a Weekly Uptrend Channel.
7) VIX Index (SP500 Volatility-CBOE) Broke 11 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 Uptrend Channel. (See eight chart below-Channel) Broke the previous Rising Wedge Support (yellow) 4 weeks ago.
9) Light Crude Oil Futures (CL2-NYMEX) Still into a weekly Uptrend Channel and tested last week the Support Trendline. (See ninth chart below -YellowTrendlines).
The weekly VIX chart confirmed 11 weeks ago that we are getting into a more volatile trading environment.
The buy the dip mentality is still strong and will become costly to investors. Buyback stocks still holding that market for now.
risk recede last week. Expect tremoudous financial assets volatility.
US Political Risk Index at a 15 year high.
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 - yellow)
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 28 weeks ago. That become the Major Support Trendline tested again
last week. (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). New High rejected 5 weeks ago
with a Weekly Shooting Star. Broke last week a Weekly Downtrend Channel.
4) Apple Shares (AAPL) Broke 12 weeks ago a Weekly Rising Wedge Technical
Pattern Support Trendline. (See fourth chart below - Right - Red Trendlines)
Weekly Shooting Star 5 weeks ago (ellipse). Into a Weekly Rising Wedge.
5) DXY Index (US Dollar Index) Strong Skirmish at the Major Support Trendline from a Weekly Falling Wedge, and got back above 8 weeks ago. (See fifth chart below - Red Trendline) Still into a Weekly Downtrend Channel.
6) TLT ETF (iShares 20+ Year Treasury Bond ETF) Broke 13 weeks ago a Weekly Rising Wedge Support Trendline. (See sixth chart below - Red Trendlines) Back above 3 weeks ago the Major Weekly Rising Wedge Support (blue-from Feb 2011). Bulls need to protect that trendline (now support). Into a Weekly Uptrend Channel.
7) VIX Index (SP500 Volatility-CBOE) Broke 11 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 Uptrend Channel. (See eight chart below-Channel) Broke the previous Rising Wedge Support (yellow) 4 weeks ago.
9) Light Crude Oil Futures (CL2-NYMEX) Still into a weekly Uptrend Channel and tested last week the Support Trendline. (See ninth chart below -YellowTrendlines).
The weekly VIX chart confirmed 11 weeks ago that we are getting into a more volatile trading environment.
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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Oil Futures ( CL2 )
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