The S&P500 tested support area 2355-2370, with success for now, and based on the daily candle stick (doji with a positive close) it would make sense to expect more upside for at least this Friday. If the stock markets are able to break through the all time highs, it’s likely that the uptrend that lasts 125 days so far, will continue into the next major cycle date: end of March/early April till April 14 (140 calendar days since NOV 4-14).
If the ADP report is explained bearish, then a break of 2355 to the downside is confirmation that a new downtrend is about to start.
VIX on a Buy, so are the markets, see weekly charts below. The USA stock market has to show a positive outcome after the ADP report or else the Dow Jones and S&P500 will form a bearish candle stick for the week.
Apple closed the gap and formed a daily hammer, indicating we should expect upside for Friday, March 10. The $139 might form resistance from the green trendline.
Facebook closed above resistance line $138, strong signal, still in a strong uptrend. I do have to note that it’s forming a bearish rising wedge, and if it breaks to the downside < 137.5, it can go fast. Support @ 138, 137.5, 136 and 135. Resistance @ 140.
Royal Dutch Shell saw heavy intraday selling, producing a new Sell signal, but managed to control the damage into the close, forming a (weak form of a) Hammer candlestick. Today, it needs to show a follow up to the upside to expect that a Low has been formed. Seems like the Oil sector is bottoming out, same for BP.
BP hammer candlestick, low in progress?
All commodities on a Sell, VIX and VXX on a Buy, Bitcoin new Sell but at support, so does not seem the right time to short with the upcoming vote, too much risk.
Oil seems ready for a bounce up.
PepsiCo – forming a double top @ 110.67? Key levels to keep an eye on are 110.67 to the upside and 108 to the downside. Follow the direction of the break.
McDonalds isn’t looking strong, needs to decide if it wants to break the 130 to the upside or 126 to the downside. Trade the direction of the break.
Exxon Mobile seems ready for a bounce up.
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The following documentary shows 3 Cycles of Time that have a direct impact on our lives and investment decisions:
- Global Warming and the next Ice Age to come. CO2 will be reduced significantly, same as every cycle has happened so far.
- The bond market will collapse, interest rates will go up and stocks will boom.
- The cycle of wars, approaching the climax near 2020.
Although I saw this documentary for the 1st time today, it perfectly aligns with my view on how we should invest for the next couple of years:
Check out the Documentary here: Documentary “Missing Links – The Cycles of Time”
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