marketanalysis1

still in down trend

The S&P 500 has broken and closed below the MA(10) (brown) in the Renko - Chart after a rally. So within the system the sell-signal trigger is activated. Stop loss a bit over the highs (2740 points).

USD/CHF is at an important resistance and very overbought. COT are at a relative extreme. Last time when the COT report was similar, the reaction was strong. But it would probably stay sometime at the

Currently you can see the strong correlation between Gold and EUR/USD. A very strong Dollar let the precious metals decline. The COT report for EUR/USD is still very bearish. A further declining in EUR/USD

The COT report gives very bearish signs (large speculators with an all time high in long positioning). It seems that the EUR bulls are getting weaker and weaker. The rally over the last 1.5 years was confirmed

Over the last few months a cycle with the length of 19-21 days could be recognized. After 10 trading days, the cycle high is achieved.

The rally over the last few days was with decreasing volume - there isn't a confirmation of rising stock markets. I think there will be a pullback. The sell-off in the bond-markets gives also an indication

The COT report looks still very bearish. A double top pattern could be generated.

USD/CAD is within wave 5 (black) / c (black). When wave 1 = wave 5, target is 1,32699.

MACD-Signal in H1 - Chart.

In the M15- Chart > SPX has broken the down channel trendline resistance.

Elliott Wave S&P500 For a while you could think that the S&P 500 is forming a contracting triangle as wave 4 within the 5 wave structure. This would have been the more bullish structure. But for

after the sell off on Thursday there are long opportunities - the support around 12.000 points held... > for short term investors fundamental: altogether more bearish (tax fears, Bridgewater short positions

it could bounce off the long-term trendline support... Weekly Chart: Monthly Chart:

but the lower trend line of the channel up was highly competitive (red arrow)

bears (contracting triangle) vs. bulls (channel up)......M30 - chart

Confirmation: higher volume with the red candles - in the last 2-3 weeks, again and again there were corrective chart patterns with low volume > followed by impulsive downside moves