Financial Iceberg

FINANCIAL ICEBERG

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TECHNICALS

US Technical Charts Potpourri
August 27 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.
The correction is more in time than in prices for now...

Some Weekly Technical Charts and Short Comments on US financial products:
1) SPY ETF (SPDR S&P 500 ETF) Strong Rejection of the Resistance of a
Weekly Rising Wedge Technical Pattern on higher trading Volume 3 weeks ago
(See first chart below - Channel + Red trendlines) Broke the Weekly Uptrend Channel

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).Tested Rising Wedge Support.

3) QQQ ETF (NASDAQ - 100 Index) Broke 3 weeks ago the Weekly Uptrend
Channel that started in December 2016. (See third chart below - Channel).
Into a tiny Weekly Downtrend Channel.

4) Apple Shares (AAPL) broke 11 weeks ago the previous Weekly Breakout
Trendline. (See fourth chart below - Right - Yellow Trendline) Becomes Major
Resistance Trendline that Bears need to protect at all costs. Unable to reach
that Resistance last week since Breakdown.

5) DXY Index (US Dollar Index) broke 17 weeks ago the Support Trendline (See fifth chart below - Grey Trendline) and broke 15 weeks ago the Weekly Falling Wedge Support (Red Trendlines). Still into a Weekly Downtrend Channel. Broke 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) Testing Old Weekly Resistance Trendline (grey).

7) VIX Index (SP500 Volatility-CBOE) Broke Violently 3 weeks ago a Weekly Falling Wedge that started since August 2015 but unable to stay above. More Volatility to come. (See seventh chart below - Grey Trendlines).

8) Copper Futures (HG2-COMEX) broke last week a Weekly Resistance Trendline of a Weekly Rising Wedge. (See eight chart below-Yellow Trendlines) Highest Level since September 2014..

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

Uncertainties surrounding the US stock market is increasing technically speaking but the correction til now is more in time than in prices.

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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