MJDombi

MJDombi

The last couple significant recessions started out by falling below the 200 weekly MA. Both managed to recover above for a short period of time, but once it fell below for a second time and the 200/50MA death cross hit, there was no return for a few years. I've marked general support levels in green.

MJDombi

This roughly compares the start of the 2015 bull run to our current market based on the fib retracement of the first expansion up out of accumulation. I focused on using fib retracement to predict the future movement, but it will differ slightly as I had to consider resistance levels at the top of the last two parabolic advances. The 50 day EMA was also...

MJDombi

This is an update on a previous analysis. Since a higher low than the 2016 comparison will likely occur today, my 2016 comparison is not as strong. While my daily close below 1311 held strong and has yet to occur, I have moved my short order limits in respect to a bull flag formation. Since this is a bull flag that appears to have more strength than 2016, I...

MJDombi

Quick analysis for a friend. A daily close above the blue line would be bullish. A daily close below the red line would be bearish. History shows a similar pattern that went bearish. I wouldn't open a position until there is a close above one of those lines. If the RSI drops below 30 I wouldn't take a short position. If the RSI manages to work it's way down...