BullBear Trading: Stock and Financial Market Technical Analysis

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The Mylan $MYL Chart Pattern Suggests Lower Ahead

Mylan NV (NASDAQ:MYL) is a leading developer of branded and generic drugs. The stock has been…See More
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New BullBear Market Report
 

In the last BullBear Market Report we took an in depth look at the very long term index charts and considered the possibility that a secular market shift could be approaching.  This examination was prompted by the parabolic action in the major US market indices, Dow Jones 30 and S&P 500, from November 2016 through January 2018.  During that parabolic run, upper trendline resistance was continually broken while lower trendlines increased their angles of ascent following each minor pullback.  On the Dow monthly and quarterly charts, the major long term trend channels going back to the  1932 or 1949 market price lows were either breached to the upside or nearly approached from below, depending on the charting of the channel.  Investor expectations ran hot in anticipation of the tax reform bill and even hotter after it was enacted.  The Dow ran nearly 50% higher and SPX leapt almost 40% in that time and was followed, as parabolic runs always are, with a dramatic collapse in February of this year.    Since all of this occurred in the context of a very long term Elliott Wave (V) count (the fifth wave of a move considered to be its final), it seemed appropriate to crack open the discussion on the potential for an eventual (though not immediate) epic bear market turn.

Price and technical action since that time has continued to beg the question, and a current consideration of the technical evidence would, on balance, lead to the conclusion that the current bull market is in its latter stages.  Given that the setup is for an either long term bear market (correcting the bull market that began in 2011) or very long term bear market (correcting the entire secular period from 1949), it's more likely that the topping process has only just begun and that the bull wave has yet to fully complete.  Having said that, the probability is that upside will be relatively limited and that any further rallies will be subjected to selling distribution on an ongoing basis.  The charts tend to suggest that bull market conditions may drag out another 10-24 months before shifting into a bear market.

Supporting these conclusions are significant developments in other areas of the financial markets and the domestic and global economies, including:

  • Bond markets moving towards yield curve inversion
  • Central banks withdrawing liquidity
  • Systemically important banks facing significant difficulties
  • Liquidity bubbles in many markets
  • Stresses in pension funds
  • Ex-US global equities markets decoupling to the downside
  • Additional mini-parabolas in small and microcap shares
  • Massive bear technical divergences and non-confirmations in markets that made new highs


This report includes charting and analysis of the following:

  • Very long term, long term and intermediate term charts for all US indices
  • Long term charts for significant US market sectors
  • Technical charts
  • Long term charts of ex-US global equities markets
  • Bond markets
  • Commodities, including: Gold, Silver, Crude Oil
  • US Dollar

 

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Blog Posts

Alert: Sprint $S Attempting To Breakout

Posted by Bryan Leighton on April 9, 2018 at 2:29pm 0 Comments

Shares of Sprint (S) have been under a ton of pressure since early 2017, once word leaked out that the T-Mobile deal was unlikely to happen. The stock fell from nearly $10 to its current $5 range. However, even with the tough market conditions, Sprint is showing signs of life. Just in the last week, Sprint jumped from its 52 week low of $4.81 to $5.22. This $5.22 level represents the daily 50 moving average and a major trend line resistance point (as seen on the chart below). Show it…

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This Is Why Micron Technology $MU Is A Strong Short

Posted by Bryan Leighton on March 6, 2018 at 3:55pm 0 Comments

Shares of Micron Technology, Inc. (NASDAQ:MU) surged again today, hitting a new all-time high of $54.64. This surge tagged a massive trend line that stretches back to the top in 2009 and the top in 2014. When connecting those pivot highs, the trend line extends all the way out to $54.50, the level tagged today. After each pivot high in 2009 and 2014, Micron Technology, Inc. corrected 50%. That means another monster correction is likely at hand. Look for the stock to collapse as low as…

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Forum

The Mylan $MYL Chart Pattern Suggests Lower Ahead

Started by Bryan Leighton in General Market Discussion on Tuesday. 0 Replies

Mylan NV (NASDAQ:MYL) is a leading developer of branded and generic drugs. The stock has been slumping since peaking in late January 2018 at $46.72 a share. Since that high pivot, the stock has…Continue

This Is Where You Buy Intel Corp $INTC

Started by Bryan Leighton in General Market Discussion Jun 26. 0 Replies

Shares of Intel Corp (INTC) continue to collapse lower. Now down over 15% from recent highs, the stock shows no sign of bottoming. Based on pure technical chart analysis, the likely target for a buy…Continue

How to make profit quickly in Forex?

Started by Andrews Wright in Forex Jun 25. 0 Replies

You must be wondering how you can make your profit quickly. Many people trade in Forex but they have to wait for long hours to see the profit growth in their account. It is very boring and people…Continue

Verizon Remains Weak On The Charts, Know This Trade Level

Started by Bryan Leighton in General Market Discussion Jun 18. 0 Replies

Verizon Communications Inc (NYSE:VZ) has been falling lower over the past week. Many traders and investors are now expecting Verizon to get into the acquisition game since AT&T Inc (NYSE:T) and…Continue

 
 
 

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