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I last wrote about the FAANG stocks in my post of November 4.
It looks like FNGU did bite back and reached its next Fibonacci Retracement resistance level at 47.34. In fact it hit a high of 48.90 last week before closing at 47.72, as shown on the following weekly chart.
The Balance of Power has shifted from buyers to sellers last week from the prior week. It will be important for price to rally and hold above 48.90 to reverse this shift in sentiment.
(more…)The following daily chart of FNGU shows that price has broken above and retested a downtrend line.
FNGU is an exchange traded note that tracks 3x the daily price movements of an index of US-listed technology and consumer discretionary companies…the index is highly concentrated and equally weighted.
The next major resistance level is around 47.34 (61.8% Fibonacci Retracement level).
(more…)To keep this simple and brief, Monday’s (November 4) intraday Pivot Point targets for the S&P Emini Futures Index (ES) are (as shown on the following 60 min chart):
R3 = 3117.67
R2 = 3085.67
R1 = 3074.33
(more…)Further to my post of September 29, this is simply a quick update to show directional movement and money flow for the first week of October for:
In a nutshell, trading was choppy in all of them, but some minor gains were made in Bonds and Gold, while further profits were taken in other world markets.
(more…)Each candle on the first chartgrid of the /ES, /YM and /NQ Emini Futures Indices and RUT Index represents a period of one year. (Note that I would have shown the /RTY Emini Futures, but it only had 3 years’ of data, so I’ve shown the RUT instead).
The horizontal white line that cuts through each candle is a one-period moving average (H+L+C). Friday’s closing price on the current year’s candle is above this moving average. They are also above the moving average on both 2018 and 2017 candles.
(more…)
