Tag: fibonacci
Bitcoin Simple Moving Averages and Fibonacci
When there are no traditional fundamentals to value an asset, technical analysis can provide more insight than people realize. Notice how some simple moving averages and Fibonacci retracement levels have acted as both support and resistance during the recent volatility. The daily chart above shows how the late December selloff in Bitcoin saw a sharp … Read More
Stock Market Video Analysis for Week Ending 8/30/13
If the weatherman said there was a 60% chance of rain you would grab your umbrella. With markets below declining moving averages the intermediate term outlook remains stormy, why would you want to buy? Wait for evidence from price action before you put your hard earned capital at risk on the long side. The video … Read More
Markets Still in Primary Uptrend
Markets are still in primary uptrends but are showing short term reason for caution, below are some levels to keep an eye on. $SPY tested support near 15400 yesterday, breaking below that level brings about the possibility of a further decline down towards 15300 which is prior resistance and a 50% retracement of the Feb … Read More
Markets Still in Primary Uptrend
Markets are still in primary uptrends but are showing short term reason for caution, below are some levels to keep an eye on. $SPY tested support near 15400 yesterday, breaking below that level brings about the possibility of a further decline down towards 15300 which is prior resistance and a 50% retracement of the Feb … Read More
Where Will Apple AAPL Bounce?
Sellers are in control of $AAPL (down 27.7% from the all time high to Friday’s close) and people have been slaughtered trying to pick the low of the pullback. Picking tops and bottoms are the most difficult job on Wall Street. With Apple, a whole new group of people are realizing that every stock experiences … Read More
Direction Of Moving Averages – Technical Analysis
In a blog post on Tuesday, I mentioned We objectively noted that the direction of a key moving average is more important than one or two closes above or below it. This statement was made in reference to the bearishness expressed by many when, just 2 1/2 weeks earlier, the $SPY closed below the advancing … Read More
Is The S&P 500 Closing in on Resistance?
Twelve days ago the $SPY made its second close below the advancing 200 day moving average. Amateur technicians spoke in unison about the bearishness of this event. We objectively noted that the direction of a key moving average is more important than one or two closes above or below it. From that intraday low to … Read More
