SPDR S&P 500 inverse cup and handle

• The inverse cup and handle pattern in SPDR S&P 500 a bearish pattern.
• Bearishness is not something new to this chart but this just adds some more to it.
• My target for this one is 93 if everything goes in order.
• First criteria is that 105 should not be regained by the bulls on closing basis which makes the break down from this pattern an invalid one. As long as it stays below 104 and 100 target of 93 is achievable for the bears.

S&P 500 Triangle in half hour chart

• S&P 500 half hour is trading in a triangle.
• It is tough to say which side this one is going to break out.
• But right now it is moving up within the triangle

S&P 500 Hourly Channel

• S&P 500 Hourly channel trending down.
• This cannot go on for ever.  And some retracement  is possible. The break of the Channel top line will confirm it.
• But it will be that a retracement and not a reversal. Since the death cross has happened the retracements will be taken care by the 50 DAY moving average.

S&P 500 The death cross is here

• This is the daily chart of S&P 500 with 50 and 200 DMA's
• The 50 day moving average is touching the 200 day moving average
• This will add some more bearishness to the markets

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Dow futures Inverted h/s and fifty hour moving average

• Dow Futures Hour chart is trading near its 50 hour moving average.
• During the down trend these are the places to go short.
• But there is a possible inverted head and shoulders pattern developing with neckline around 9730.
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EUR/USD second attempt to conquer the cloud.

• EUR/USD pair daily chart is shown with ichimoku cloud.
• And this is the second time the pair is looking to go above the cloud after its fall below the cloud at 1.47 region.
• The first attempt ended in failure with the 50 DMA and the cloud stopping it from going above.
• The pair in this attempt seems to have cleared some distance from the 50 DMA. And the patterns from which the pair is trying to reverse is also looking good. The only negative point was the volume which i showed in my earlier post CLICK HERE TO SEE VOLUME ANALYSIS OF EUR/USD.

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EUR/USD is taking a pause after break out

4 HOUR CHART

DAILY CHART

• The first chart is the 4 hour chart of EUR/USD with volume.
• If you notice there is no substantial increase in volume during break out.
• And the in daily chart the price is still trading below the ichimoku cloud. 

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