Stock Market Analysis Aug 25 2016
Markets largely ignored bullish patterns in the 60 min charts. The cup and handle pattern target in the 60 min chart of IWM marked the exact short term top and indexes fell from there. Anyway, it is finding support at important areas. A surprising thing is that although markets tend not to act as we always expect, some trading strategies still work in this kind of environment. As they saying goes, there is always a bull market somewhere. In our case, yesterday presented some great shorting opportunities in the 60 min charts in the form of 60 min box shorts in Gold and Silver.
To learn more about 60 min Darvas box patterns, read The 60 Min Darvas Box Long Trading Strategy. For shorts, just reverse the criterias. That's the dynamic of this strategy.
Now that the markets are at support level we are neutral in the 60 min charts. Daily charts are still in uptrend and we remain bullish in that timeframe. The big event will be tomorrow's speech by Janet Yellen which may cause a gap in the indices.
For past analysis go to Daily Stock Market Analysis 2016. For a longer term view of things go to Intermarket Analysis By Stephen Loke.
To learn more about 60 min Darvas box patterns, read The 60 Min Darvas Box Long Trading Strategy. For shorts, just reverse the criterias. That's the dynamic of this strategy.
Now that the markets are at support level we are neutral in the 60 min charts. Daily charts are still in uptrend and we remain bullish in that timeframe. The big event will be tomorrow's speech by Janet Yellen which may cause a gap in the indices.
For past analysis go to Daily Stock Market Analysis 2016. For a longer term view of things go to Intermarket Analysis By Stephen Loke.
