My apologies for being silent for a while. I decided to stay away from the blogsphere as it's sometimes hard to focus on my own perspectives when I hear too many noises.
(BTW, what happened to that "Hindenburg Omen" that everybody was talking about not so long ago??)
Now that I see the big bear (i.e., TK) posting the bullish breakouts, I decided to share some of my thoughts today.
As the US indices have been pretty flat for the past many months, I have been trading other financial vehicles which have more clear paths and the trendlines, and I have been using them as my leading indicators to pick the directions on the general markets.
Here are some charts that I have been trading lately. EEM, AUD, and EUR are all in the beautiful 5 waves upside structures ready to complete this leg up pretty soon.
Here is another look of SPY charts with my favorite Person's pivots. As you can see, ab=cd upside target of 116.36 incidentally clusters with both monthly and weekly R1 pivots so I'm expecting a strong resistance at this level and a possible pullback. This goes well with EEM, EUR, AUD almost completing the upside targets.
Qs just hit the upper side of the channel on Friday.
INTERMEDIATE MARKET VIEWS
I have posted some intermediate to long term charts previously and I'm delighted to say that they are all right on the track. For those who are interested, here is the link to my original post on May 29.
Here is the upate of my INDU monthly. Here is the link to my original post on March 6th. I had a discussion about three peaks and the domed house chart pattern and the resolution to this pattern using the daily chart.
Needless to say, I have a very bearish outlook on the dolloar.
Last but not least, AAPL and AMZN are getting close to my target prices. Here is the link to my original post on the price projections on AAPL and AMZN on May 2nd.
Isn't it amazing that I came up with the same price targets both in the weekly and daily charts??
I have a higher price target for AMZN based on the daily chart.
No, this is not NFLX, AAPL, or BIDU. This is one of my favorites, Malaysia ETF, which has just hit my price target last week.