A weekly view :
– At the horizontal support level
– At the uptrend support level
– Head and shoulders pattern
Wait for entries and see how it unfolds
A weekly chart of XOM.
A clear resistance line at the highs of 2011 and 2012, tested already numerous times without really breaking it. Get ready to hop on this ride if it moves up
PG is currently testing a massive resistance level.
A look at the weekly chart shows a massive ascending triangle. If that one breaks, put in some money and look back after a year
A view on the new high minus hew lows on the S&P500
– When last year the S&P 500 was around the 1350 level, the NH-NL indicator was at a level of 100 – Now he S&P 500 is also at 1350, but the NH-NL is not even 50
Something to keep an eye on.
Weekly chart of EEM.
– the resistance level at 42.5, also the october highs were broken. – now facing the resistance at 44
– given the strong uptrend of the last month, a pull back to the support (previous resistance) would be healthy
A zoom into the S&P500 stocks at 52-wk highs minus lows. I did the zoom as it struck me how there was a distinctive point where the S&P500 went up and the high minus lows went down. It suggest that a break of the steep uptrend of S&P500 is coming. Watch the mean level for the new high minus low indicator.
– if it holds, is a small correction and a “buy on the dip” -> this would be the best situation for the longer term
– if it breaks, and S&P breaks below 1300, it is a crack in the confidence of the latest uptrend