Sunday, December 31, 2017

Last week of 2017

ES has a vW to 2707.25
It was triggered until selling pressure came in on the last trading day of 2017.
It did form an intraday vM to 2668.75 which was hit.  
See if can bounce from here towards 2707.



The Russell hit vW 1441.00 and broke above.  
Expecting 1597 area.



The Nasdaq has continued higher after hitting long term vWs.
Has formed smaller time framed vW's.  vW is formed to 6611,
but was un-triggered after bouncing of vW target price at 6536.75



The Dow is now parabolic! The only pattern I see is a bull flag to 25320.



XLF hit vW target price at 27.50 and is now trading sideways above it, 
forming a bull flag towards 30.27 



10/13/16
The Dollar has been hitting wM's lower.  
Needs to bounce from this recent target 
area towards vW 96.285 and hold above there.  
Otherwise expecting 87.45
The Dollar has now formed and triggered a vM to 90.565, 
which will null vW to 96.285



Gold has short terms vM's lower, but price is bouncing back above their necklines.  
Needs to retake and hold 1363 area to null vM's lower, and trigger vW to 1708.3



The TLT needs to hold 115 to avoid triggering vM to 89.50



Oil has triggered vW's to 73.78 and 83.56,
and nulled patterns to sub 40.






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Sunday, October 15, 2017

Week ending 10/13/17

Stock indexes have been making all time highs.  Oil has been breaking above 50.

The S&P has short term vW triggered to 2561 after hitting longer term vW at 2545.75.  
Could see a pull back towards 2495 - 2500 area after hitting 2561.



The NASDAQ is nearing its last vW's higher.



The Russell hit vW 1441.00 and broke above.  Expecting 1597 area.



The Dow has hit all vW's higher and looks almost parabolic.  Expecting pullback towards 22630 and possibly 22490.



XLF has a vW to 27.50 that is triggered.  It also has a possible bull flag in process to 32.80 area.

The Dollar has been hitting wM's lower.  Needs to bounce from this recent target 
area towards vW 96.285 and hold above there.  
Otherwise expecting 87.45




Gold has short terms vM's lower, but price is bouncing back above their necklines.  Needs to retake and hold 1363 area to null vM's lower, and trigger vW to 1708.3



The TLT needs to hold 115 to avoid triggering vM to 89.50


Oil has been grinding higher.  Needs to hold $50 to avoid further selling towards sub $40.
Above $55 will trigger vW to $73.78 and null patterns lower.



The IBB has hit vW to 32.62.  Has been closing above that target price, so 399.16 may be on deck.




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Sunday, August 13, 2017

Week ending 8/11/17

Stock indexes fell this week after hitting target prices and making new all time highs consistently the past several weeks.  They have formed and hit short term vM target prices.  If they break the weeks lows, expecting further selling.  See if oil can retake $50.


The S&P reversed after hitting vW to 2478 and making new all time highs.  Has hit a vM at 2434.  See if can bounce from here and form a new bullish pattern.  Otherwise expecting further selling towards 2415-2400.



Nasdaq also fell after making new all time highs.  vM towards 5703.75 is triggered inside a larger vW to 6076.5 which is also triggered, however price is close to testing its neckline and will be un-triggered if vM to 5703.75 hits.



The Russell reversed after hitting vW to 1441, forming a small vM to 1351.3
It still has a larger vW to 1597 that is triggered.



The Dow reversed after making new all time highs and hitting a long term double bottom target price from the '08 crash at 22074.  It has formed and hit a vM 21844, but has yet to bounce.  It has also triggered vM to 21643

Dow weekly chart



The XLF hit vW to 25.11 and nulled a short term vM lower.  Has formed a vM to 24.46 that is triggered.



Oil has been grinding higher.  Needs to retake and hold $50 to avoid further selling towards sub $40.
Above $55 will trigger vW to $73.78



The IBB still has vW's higher that are triggered.  Has formed and triggered a vM to 294.00





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Sunday, July 2, 2017

Week ending 6/30/17




The S&P sold off Thursday nulling a short term vW towards 2470, however it still has longer term time-frame vW's to 2455 and 2478.  It has formed a vM to 2382.75 and needs to hold around the 2413 level to avoid further selling towards it.



The Nasdaq has triggered a vM to 5315.75 which is about 6% lower.
Needs to make new highs to null.



The Russell is close to hitting vW target price of 1441.
vW to 1597.2 is triggered


The Dow hit a vW target price at 21426 and then chopped sideways forming several vM's.  One of them hit last Thursday at 21151 and so far has bounced.  Needs new highs to null them. 



XLF is trying to reach vW target price at 25.10 which is just below highs needed to null vM to 20.73.
Watch the 25.10 level to see if reverses, or breaks above recent highs at 25.29 to null vM 20.73



Oil has been making lower lows but now looks like it's trying to bounce back.  Still has vM's to sub-40, which needs above 55.25 to null.  Above 55 will also trigger vW to 73.78



IBB has been bouncing back after several test of the neckline for vM 56.52
They are not pretty but it has vW's higher, and one that will test its all time highs that is triggered.



Kroger got slammed on earnings, and slammed again when Amazon announced it was acquiring Whole Foods.  KR fell through vM target prices, a gap, and below the 8/26/15 crash level.  See if it can, and how it reacts to gap fill at 30.28
While I don't think it will happen, it has formed a huge vW to 5.63 and needs a lot of work to null it.


WBA fell out of its channel and is testing the neckline for 51.78
Needs to hold above 71.50 to avoid nulling vW higher towards 100.97 and triggering vM to 51.78



AAPL looks toppy here.  Has hit all major long term target prices and forming vM's lower.  Expecting to gap fill 121.30



There has been a lot of chatter about crypto-currencies lately.  Bitcoin and several others have formed huge bearish vM's.  Bitcoin has a small one to 2194 that will trigger a larger vM to 1085.
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Friday, June 9, 2017

Week Ending 06\09\17

Markets were a bit jittery yesterday during Comey's testimony, but  markets seemed to shrug it off.  However, today after making new all time highs, the markets sold off violently.  Also, the S&P and the Dow hit long term target prices the began forming in 2015.  Futures contract changes to the front month may have also contributed to the sell off.  Contracts did gap last night after the evening re-open. 


The S&P fell after making new all time highs.  It bounced back, regaining about half the move.  If moves lower again and can't hold 2400, expecting 2370, and possibly 2345 area.  Still has patterns higher from here, and if continues the bounce it will form another pattern towards 2470 area.




The NASDAQ fell the heaviest and had the lightest rebound.  



The Russell Sold off but regained most closing up .43%



The Dow sold off after making new highs and hitting a target price of 21245.  So far it is bouncing.  If doesn't hold yesterdays lows, expecting test of 21,000




XLF has formed a large vM to 20.73 and has been testing its neckline.  Needs to break above 25.30 to null.  It did trigger a vW to 25.10 today.



Oil has vM's below $40 and are testing the necklines.  Need's to bounce to avoid sub-40.
















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Friday, May 19, 2017

Week Ending 5/19/17

Stock indexes have bounced after the S&P and the Dow filled their gaps created on 4/23.  All of them have created gaps above on 5/17 after the Trump allegations, which nothing will come of and look to be getting shrugged off by the markets.  Expecting them to fill the gaps and push above to new highs again.  Oil is back above $50.  Trump is meeting with Saudi Arabia this weekend.  Not sure if anything will come of it but news could make it interesting.


Lots of lines on this one, but all are valid. The S&P filled its gap and has bounce.  See if can break above gap at 2397.5 and continue to new highs.  vW's to 2419.5 and 2441.75 are triggered.  Gap fill will trigger vW to 2465.25 and then will expect vW from 08 crash at 2478.75


The Nasdaq bounced off the area around its last target price of 5566.  Needs to hold above 5534.25, otherwise will likely fill the gap at 5436



The Dow filled its gap on 5/18 and has so far bounced.  Looks like it wants at least 21,255 and if that happens, vW to 21,640 will be triggered.



XLF has bounced from a test of recent lows, and looking to test gap made on the Trump news.  vW to 25.04 is still intact as long as 22.89 holds.



Oil has regained its ma's and closed above $50.  If can continue closing above $50, expecting vW's to $59 and $63.02
If doesn't hold around $44 it could get ugly!  Trump is meeting with Saudi Arabia this weekend.  Any news could make things interesting



Bonds traded slightly up with the stock market bounce, which is unusual.



Gold



The IBB is sitting in between its short and long term ma's.  If falls below longer term ma's, will likely see test of 250 area and possibly vM 223.13 target price.





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