FINANCIAL ICEBERG
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TECHNICALS
US Technical Charts Potpourri
April 24 2017 ( From TradingView, CNN Money )
April 24 2017 ( From TradingView, CNN Money )
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The Trumpification of Financial Markets still on (pro-growth and reflation
theme within a protectionism bias) but details of his action plan are scarce
and the world geopolitical risks deals a blow to the rest of his agenda.
That is starting to weight on the stock market.
Some Weekly Technical Charts and Short Comments on US financial products:
1) SPY ETF (SPDR S&P 500 ETF) broke five weeks ago the Weekly Uptrend
Channel. Also broke the previous Weekly Break Out Trendline that was critical
for Bulls. Now Into a Weekly Downtrend Channel.
(See first chart below - Channels + Blue trendline)
2) VTI ETF (Vanguard Total Stock Market ETF) comprised of 3613 US Stocks
(so for me it is the Total Market Index) near testing the Major Weekly breakout
Trendline from October 2007. (See second chart below - Top Red Trendline).
3) QQQ ETF (NASDAQ - 100 Index) still testing the Major Previous Weekly
Break Out Trendline of a Rising Wedge (See third chart below - Left-Blue).
Remember the Weekly Shooting Star three weeks ago...
4) Apple Shares (AAPL) unable to break the Weekly Resistance Trendline.
(See fourth chart below - Right - Red Trendline) Remember the Weekly Shooting Star Pattern three weeks ago.
5) DXY Index (US Dollar Index) is back below the Previous Weekly Breakout Trendline (See fifth chart below - Grey Trendline) and Into a Weekly Falling Wedge (Red Trendlines); Strong Price Compression.
6) TLT ETF (iShares 20+ Year Treasury Bond ETF) within a Weekly Uptrend Channel and back above the previous breakdown trendline from an old downtrend channel (breakout). (See sixth chart below - Channels)
7) VIX Index (SP500 Volatility-CBOE) strong weekly compression within a Falling Wedge (See seventh chart below - Grey). 1st close above the 52 WMA (Week Moving Average-green) two weeks ago.
8) Copper Futures (HG2-COMEX) broke nine weeks ago a Weekly Support Trendline. (See eight chart below-Red Trendline) and still into a Weekly Downtrend Channel.
9) Light Crude Oil Futures (CL2-NYMEX) back four weeks ago into the Old Weekly Rising Wedge Pattern
(See ninth chart below - Grey Trendline - Ellipse) and tested again last week the resistance.
The Market still into a Correction process since SPY ETF broke its weekly support trendline and geopolitic risks rising tremendously lately...
theme within a protectionism bias) but details of his action plan are scarce
and the world geopolitical risks deals a blow to the rest of his agenda.
That is starting to weight on the stock market.
Some Weekly Technical Charts and Short Comments on US financial products:
1) SPY ETF (SPDR S&P 500 ETF) broke five weeks ago the Weekly Uptrend
Channel. Also broke the previous Weekly Break Out Trendline that was critical
for Bulls. Now Into a Weekly Downtrend Channel.
(See first chart below - Channels + Blue trendline)
2) VTI ETF (Vanguard Total Stock Market ETF) comprised of 3613 US Stocks
(so for me it is the Total Market Index) near testing the Major Weekly breakout
Trendline from October 2007. (See second chart below - Top Red Trendline).
3) QQQ ETF (NASDAQ - 100 Index) still testing the Major Previous Weekly
Break Out Trendline of a Rising Wedge (See third chart below - Left-Blue).
Remember the Weekly Shooting Star three weeks ago...
4) Apple Shares (AAPL) unable to break the Weekly Resistance Trendline.
(See fourth chart below - Right - Red Trendline) Remember the Weekly Shooting Star Pattern three weeks ago.
5) DXY Index (US Dollar Index) is back below the Previous Weekly Breakout Trendline (See fifth chart below - Grey Trendline) and Into a Weekly Falling Wedge (Red Trendlines); Strong Price Compression.
6) TLT ETF (iShares 20+ Year Treasury Bond ETF) within a Weekly Uptrend Channel and back above the previous breakdown trendline from an old downtrend channel (breakout). (See sixth chart below - Channels)
7) VIX Index (SP500 Volatility-CBOE) strong weekly compression within a Falling Wedge (See seventh chart below - Grey). 1st close above the 52 WMA (Week Moving Average-green) two weeks ago.
8) Copper Futures (HG2-COMEX) broke nine weeks ago a Weekly Support Trendline. (See eight chart below-Red Trendline) and still into a Weekly Downtrend Channel.
9) Light Crude Oil Futures (CL2-NYMEX) back four weeks ago into the Old Weekly Rising Wedge Pattern
(See ninth chart below - Grey Trendline - Ellipse) and tested again last week the resistance.
The Market still into a Correction process since SPY ETF broke its weekly support trendline and geopolitic risks rising tremendously lately...
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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
The Trump Experiment - Financial Markets $SPY #sp500 #usdollar #bonds #gold #stocks #investing #trading #spy #dxy #aapl #copper #vix
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Copper Futures ( HG2 )
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US Dollar Index ( DXY )
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Vanguard Total Stock Market ETF ( VTI ETF )
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NASDAQ 100 Index ( QQQ ETF - Candles)
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Apple Shares ( AAPL )
Volume ( Bottom Panel - Blue Area )
Apple Shares ( AAPL )
Volume ( Bottom Panel - Blue Area )
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CBOE SP500 Index Volatility ( VIX )
CBOE SP500 Index Volatility ( VIX )
Weekly Chart ( Candles )
Oil Futures ( CL2 )
Volume ( Bottom Blue Area )
Oil Futures ( CL2 )
Volume ( Bottom Blue Area )
