S&P 500 Update: Losing upside momentum if it loses the parallelS&P 500 Now testing the target at 2399-2407 and looking tired. Short set-up from between 2402 and 2405 if touched with stop above 2410.
Short-set-up
GOLD: XAUUSD Short set upGOLD: XAUUSD Gold is double topping as DXY double bottoms at 96.8. Gold should fall away from 1260-1264 resistance range to 1248 at least. Only consider going long of gold again if DXY falls below 96.75. The entire rally is based on weakening dollar, so once that prop is removed....
USDEUR: Longer term chart with Head and shoulders targetUSDEUR: Longer term chart showing head and shoulders formation and likely medium term downside target at 0.8803
USDEUR: Back in neutral awaiting next signalUSDEUR: Dollar is holding up off the lows but still vulnerable whilst trapped within the down-wave. Either it breaks out and should be followed or it breaks down and should be followed. No decision to make. Not overbought now or oversold...so follow the move when it comes...
DXY: DOLLAR INDEX Still has further to fall from hereDXY: DOLLAR index This index should fall to 95.05 which is the target created by the head and shoulders on DXY chart - best defence is to continue to sell all dollar rallies until target is achieved.
USDEUR: Dollar Euro next short set upUSDEUR: The dollar has further to fall against the Euro but is a little oversold. Use any rally early this week to get short again if not already.
USDGBP: Sell the next dollar rallyUSDGBP: The head and shoulders top signals further medium term weakness for the dollar down to 0.7452. Look to sell into next dollar rally.
AMAZON: Short set-upAmazon is close to key support at 950. If it breaks it triggers a near-term short as per comment
APPLE: AAPL Pivot so clear at 152 todayAPPLE:AAPL Apple is sitting still at 152 - big pivot for day traders - it's flashing warning signals given out by the island reversal off the top but cannot be shorted whilst it holds up at 152.
IXIC Nasdaq Long Term Chart: Danger approaching 50 points awayIXIC Nasdaq Composite long term chart showing danger approaching for long positions just 50 points away. Get ready to close down longs and prepare to short as per comment
AUD/USD: trade to start week #11 Lots of confluences for this trade to get SHORT as u can see from the chart:
Resistance
Fib level
High test candle
Deceleration
50 ema bounce
CHF/JPY: So many confluences for going short!Confluences:
1/ with the recent formed downtrend
2/ Broke TL + retest
3/ Tested the 130.000 weekly resistance
4/ Bounced of the 50% fib.
5/ high test, followed by inside bar set up, followed by another high test
6/ 50 & 60 EMA's bounce
