Bonds Daily Chart - What the bonds daily Chart is saying

Bonds Daily Chart - What the bonds daily Chart is saying

Having a look at the bonds daily chart, since the Ben Bernanke and the fed have chosen to keep purchasing bonds, and that news has come out, you can see the bonds look perky right now.

Not only that but bonds seem to be coiling right now, and it seems that a bullish flag might be setting up. If this does break out to the upside that would be bullish for bonds, and bearish for stocks and equities.

bullish flag pattern

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Bullish Flag On Silver

Bullish Flag On Silver

There seems to be a Bullish Flag On Silver that has broken out as you can see on the chart below. That would hint higher prices are coming soon.

bullish flag

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Dow Jones Weekly Chart

Dow Jones Weekly Chart

Top callers and those shorting this market, but be very frustrated right now. The DOW JONES WEEKLY CHART Below is show how strong and resilient this market is. You do not even have to guess when you look at the weekly chart.

The last major dip on the market seems to have just created another bullish flag we have now broken out of. I do agree this market is a little overbought, but I have been getting emails from my readers since the DOW was at 12,000 trying to convince me the market was topping out and a crash was coming. So far we have not seen that at all. It is better to let the charts do the talking for now, and right now they keep telling us a different story.

Eventually we will get to major extremes in the market, but the market can remain in extremes longer then anyone can imagine. Better to trade what you see today, not what you expect to happen tomorrow.

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Nasdaq Chart - Bullish Flag

Nasdaq Chart - Bullish Flag

Right now on the daily NASDAQ chart you can see we have consolidated a little, and over the last several days we could have created a little bullish flag. Normally these precede a rise in price, but obviously we have not broken out yet, so we shall wait and see.

Nasdaq Chart - Bullish Flag

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bullish flag - bullish flag on EURO

bullish flag on EURO

As you can see below we have a bullish flag on the EURO chart. Sentiment trader spoted the bullish flag on the EURO a few days ago, and alerted our VIP MEMBERS HERE at about the 1.34 level.

These bullish flag Patterns have been working really well lately, and now EURO is trading up at about the 1.35 level!

bullish flag pattern EURO

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Significant week - Significant week for market.

This will be a significant week for the market, as OPEX is apon us. 

The S&P  broke out of the bull flag and looks like it wants to work its way higher. 

I will say this, $22.8 billion dollars poured into stock funds last week alone, yes, you did read that right I said $22.8 billion dollars. WOW!, that is the beginning of a trend you will see continuing because the fed has stepped up and said QE purchasing may stop this year. I do not know if that is the case, or they are just playing games, however, many people with 401k's and mutual funds have been forced to look at investing in the stockmarket. That is what you saw happen last week.

So this week will be very significant. 

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The bullish flag worked

It seems we were SPOT ON with our previous post today. Patience paid off.

The market had thrown a bullish flag pattern, which is obviously bullish, and the S&P finally did break out of this flag and took off to the upside.

You have to take your hat off to technical analysis and this was almost text book. 3-4 day bullish flags work the best with the indicies, and we would not be surprised to see the market go a higher obviously.

The tick reading below is at +175 and still has some room on the upside too.

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bullish flag - bullish flag on dow jones

bullish flag - bullish flag on dow jones

If I was a gambling man, I would say we are about to see a pop higher on the DOW JONES. The coiling we have been seeing the last few days could have turned into a bullish flag.

That means we could be expecting a breakout of the flag pattern seen below and higher prices are coming in the next day or so, at least.

It seems the BULLS have certainly not lost hope yet.

bullish flag on dow jones chart

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bullish flag - bullish flag on weekly

bullish flag - bullish flag on weekly

Having a look at the weekly chart on SPX there seems to be a bullish flag now forming on the charts which means technically 1500 - 1510 is the possible upside target now. The first objective would be the 1460 - 1470 level. So we will just wait and see.

Once we break the upside resistance we could be off to the races. But no need to get carried away, and just take it each day as it comes. This chart after the holidays, and with the massive action today, is again looking quite nice, and again room to move on the upside. 

bullish flag

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Bonds Building - Market Still Tired

Well another red day on the market as we hinted at in the ( VIP ELITE GROUP HERE )

After a few weeks of bonds being very messy, alot of the bonds traders are jumping for joy as the chart has cleaned up a bit. Have a look at the weekly chart on BONDS below. It seems to be forming a bullish flag at the moment. It has not broken yet, and is only "looking" like a bullish flag, because it must break out of this pattern first for more buying to come in. That will put even more pressure on the market.

With the strength in bonds, the market (nasdaq) has now broken out of its upwards channel and the bottom resistance line, and continued down today on WEDNESDAY. If we look back it is obvious that we have not see 3 or 4 down HEAVY down days in a row, so my guess is that the bears still have the upper hand, but there will might be some sort of bounce coming, but we will probably have to wait till next week to see this happen, and also see how bad the bulls want it! :-)

The sentiment right now is still with the bears, and our breadth indicators are confirming that. Happy trading :-)

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