Page menu

Monday, March 27, 2017

Market Update Monday 3/27/2017

Still looking for a bullish reversal out of this choppy market.

Dow trades into what looks like a panic wave E, on the short term charts. Should see a violent reversal out of that panic wave, as soon as today's opening bell. If it overshoots the target there's support at the 50 day moving average.

 Here's another view showing what looks like a bullish down-turned megaphone pattern.

Still Watching $TRAN for guidance

$SPX looks like a bullish back-test. Get everybody bearish ahead of the long holiday and then steal their money (again). Another bear trap. Calling this a "double bottom", on the shorter term charts.

$SPX Another view - testing key support

No new lows for Oil, and I'm still anticipating a military conflict, that will send Oil back to $70

I don't like the candlestick analysis on NATGAS

Nothing has really changed since last week, except the little shakeout on Friday, on higher volatility.
The fact that RINO-Care didn't pass has little to do with it. The swamp market likes gridlock in Washington. This is just window dressing. Financials were sold and energy bought.

On a side note India's $NIFTY breaks out to all time highs

EURO breaks out

1. Continued window dressing headed into the end of the quarter (on Friday)
2. Money put to work and short covering... ahead of the long holiday. Expect low volatility.
3. April OPEX is the 21st, and money will have to be put to work when traders return.
4. Sell in May, and go away.

No comments:

Post a Comment