Category Archives: SPY

Sep 02

US Market Indices Review: Dow Jones Industrial, S&P500, NASDAQ

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Dow Jones Industrial ($DJI)

  • Chart Pattern: Head and Shoulders (Bearish)
  • Resistances: 11,900 (50D MA); 12,000 (200D MA)
  • Supports: 11,482 (78.6% Fibonacci Retracement Level); 11,230 (20D MA)
  • Trend: Start of Down Trend.

 

S&P500 ($SPX)

  • Chart Pattern: Head and Shoulders (Bearish)
  • Resistances: 1,221 (78.6% Fibonacci Retracement Level); 1,254(50D MA); 1,275 (Neckline and 200D MA)
  • Supports: 1,172 (20D MA); 1,122; 1105 (61.8% Fibonacci Retracement Level)
  • Trend: Start of Down Trend.

NASDAQ Composite ($COMP)

  • Chart Pattern: Triple Tops (Bearish)
  • Resistances: 2,606 (Neckline); 2,655 (50D MA); 2,700 (200D MA)
  • Supports: 2,526 (78.6% Fibonacci Retracement Level); 2,470 (20D MA); 2,256 (61.8% Fibonacci Retracement Level)
  • Trend: Start of Down Trend

 

Oct 07

Key US Market Indices Review: Reversal At Sight!

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All three key US Market Indices (Dow Jones, S&P500, NASDAQ) are hitting the uptrend channel resistance.  Immediate support is the 20D MA. If these three Moving Average supports are broken, these market indices will be sent to the uptrend support. This month is the month of October when most crashes happen in this month historically. Earning season is starting soon when the companys report last quater earning. I expect lots of earning downgrade because I am seeing slowing down in economy for the next two quarters.

Dow Jones Industrial

S&P500 (SPY)

NASDAQ

Sept has been a bullish month, What goes up must come down…. I may be wrong but I will not lose money if I am taking a safety first , wait and see approach without committing any additional money in the market.

Trade with extreme cautious!

Jul 07

STI: Fasten your Seat Belt! Storm Ahead!

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STI has been holding well for the past few days. Is STI consolidating for the next bull run or quiet before the next big storm? Let’s look at the three key indices…

Dow Jones Industrial

 

S&P500 ETF (SPY)

NASDAQ

What commonality do we see?

  • Head and Shoulders Pattern
  • Once the neckline is broken, sharp correction happens within one to two months.
  • All 3 key indices chart pattern are similar.
  • The LATEST Head and Shoulders has been formed and the neckline has been broken. Can you see what is coming?

 

Let’s look at STI. Is the chart look familiar?

Someone will tell me “Hey! The Head and Shoulders has not been formed on STI yet!”

True! But my reply is “Do you think STI can escape from this storm and go on the bull run?”

STI: FASTEN YOUR SEAT BELT! STORM IS COMING!

Bull or Bear supporters, feel free to comment!