On Monday August 15, 2016, S&P 500 future broke out to the upside from a constellation of bullish patterns on intraday charts. Let’s take a look. First Rectangle Trading Box The first pattern on the 2-hour chart is a rectangle trading range. This range is shown by the lines ‘A’ and ‘B’ in the chart. Following better than expected…
The Reserve Bank of India (RBI) and the Indian Ministry of Finance seem to be at loggerhead. The government is concerned with the slowing growth and is trying to implement growth policies and dropping strong hints to RBI to provide some help. In its mid-year economic analysis presented in Parliament on Monday, the finance ministry said it…
Citing Wall Street Journal, Business Insider reports that Amazon is seeking to raise $3 billion in debt. This is the good side of low interest rates. Perhaps, Amazon has big expansion plans. And why not? It’s paying 0.38 to 0.93 percentage points more than comparable Treasury rates in interest for the bonds, which mature in…
INTC is forming an emerging double bottom pattern. On August 6th, the chip maker broke above the neckline of a double bottom formed by the lows on July 12th and July 24th. Before that on August 1st, it broke above the upper limit of a descending triangle making it a failed pattern. In the process,…
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