Today's eMini close level has significant potential to generate signals. Details inside.
Subscribe to see the rest of this post.
Author: ChrisC
The Next Move
The bulls showed their vulnerability today. The falling dollar/rising yen looks to extract another round of pain from stockholders in coming weeks. Video update inside.
click chart to enlarge
Weekly Update
click chart to enlarge
This rally has seen some impressive stats, but the S&P breadth oscillator is not one of them.
Oil vs Yen
Oil and dollar yen are trying to pull stocks in different directions. Oil is winning that battle short-term, but this oil rally comes with a likely expiration date.
click chart to enlarge
On the Nature of Tops
There’s quite a bit of short-term upside momentum present. If a top forms now, it will need to be a spike-type reversal. Now my general observation is to expect spike lows and rounded tops in bull markets, and spike tops and rounded lows in bear markets.
A spike top now will benefit the bears as it helps confirm the nature of the larger trend.
click chart to enlarge
I Apologize
Weekly Update
Is it roll over time?
click chart to enlarge