- Charts on selected symbols with STOPD Levels are posted
- Recap and outlook commentaries are added to some posts as demonstration of applying STOPD in actively traded markets
- Share charts and screenshots in discussion
- To participate in outlook discussion sign up for FREE
End-of-day trader / swing trader looking for useful analysis beyond daytrading? Take a look at our proprietary Weekly Cycle Projection.
(ad free for premium members)
Easy play of the week. The pair simply rejected resistance and dropped to target. Closed the week below Y-1 and midpoint.
Pullback in progress. Strong support between B-1 down to B-2 on weekly and higher timeframes. 1.08 is the magic support / resistance for years in the past. Once B-0 is cleared retest of Y+1 likely.
Support at previous week close gave Dow a platform to go higher. Target Y+2 tagged and then a stop run overnight zoomed YM higher and then collapsed back down to Y+1. Closed the week above Y+1 and midpoint.
As mentioned last week the false bottom should give Dow boost back upto Y+2. The pullback is now over. Continuation sell on daily from here points to proper retest of Y-1 and below in coming 2 weeks.
Down channel resistance breached right from the beginning of the week. Gave us an up drift consolidation week. 50% range capped the upside. Closed the week above Y-0 and near midpoint.
Inside week closing between Y-0 and midpoint implies indecision. Breakout play down to B-2 or up to B+2 in the making.
Bottom from last week acting as support as expected but situation in Ukraine and banking problems in Europe is turning the pair into a mess. Closed the week above Y-0 and midpoint.
Inside week closing above Y-0 and midpoint. Not as strong as one would like to see. Setting up FBO on the boundary (Y+1 and Y-1) that tagged first with the other end next.
More weaknesses as expected with Y-0 resistance worked out perfectly. Flushed down to below Y-2 target. Closed the week below Y-2 and midpoint.
Cable is simply playing catch up with Euro. Y-1 / B-0 strong resistance zone with Y-4 potential target for sharp bounce back to resistance.
Found support near Y-1 and started an up drift back to crime scene last week. Closed the week above Y-0 and midpoint.
Another pair with inside week formation. Bear flag on 4-hour and higher timeframes. Breaking bear flag support points to continuation sell below Y-1.
Bullish scenario unfolded as Y+1 tagged first with Y-0 support leading to a run to Y+2. Option expiration Friday even jumped NQ to Y+3 by open yet failed to hold onto the gain. Closed the week above Y+2 and midpoint.
Potential FBO against previous month high / former year high. Breach of B-0 points to a flush to at least below B-1 / Y-0.
ES found support at previous week close and zoomed to Y+2 right above 3 pushes down target. Strong reaction to Y+2 sent ES back down to Y+1. Closed the week above Y+1 and midpoint.
Classic 3 pushes down target tagged, no more fuel to go higher from here. ES needs to find support at Y-0 / B-1 zone or B-2 / Y-1 will be tagged quickly this week.
As expected, Aussie stays weak and failed to clear Y-0. Dropped below Y-1 and stopped at equal distance off previous week close. Closed the week near Y-1 and below midpoint.
Decisive rejection of Y-0 gave us clean break of Y-1 thus Y-2 is still in play. It is also the original target stated last week. As long as B-0 is acting as resistance it is likely we get Y-2 and B-2 either this week or next.
Consolidation around previous week close at 50% range. End of week rally took Dow back up. Closed the week above Y-1 and midpoint.
Consolidation week with up close not as bullish as it seems. Building on the false bottom with B-0 support Dow can rally back up to B+2.
Weak pullback not even touching Y-0 ended with another drop to Y-1. Eventually Y-1 was cleared giving us equal distance from previous week close. Closed the week below Y-1 and at week low.
Consolidation action with weak close is bearish. More down side is expected. A quick flush to B-2 early next week can produce a temporary support for a bounce back up to B+1 / Y-0.
First attempt in the week to hold Y-0 and push higher failed resulting in a drop to Y-1 and Y-2. A strong bottom was then formed with euro pushed back up. Closed the week above Y-0 and midpoint.
The bottom forming was a complex one but it is still a temporary bottom. As long as Y-1 / B-0 acting as support euro has a chance to challenge B+2 / 1.35 swing resistance.
Strongest among the 3 indices, NQ consolidated between Y-0 and Y-1. NQ also formed a rare down side triangle with potential up side breakout by the end of the week. Closed the week above Y-1 and near midpoint.
As mentioned before NQ is the strongest one on weekly thus it is likely to hold back the selloff in the other 2 indices. Since Y-1 was rejected, Y-0 is the likely retest and a push to B+2 will not be a surprise.
By end of the week if NQ fails to clear Y-0 / B-0 it will be quite bearish for NQ going into end of August.
Consolidation expectation was correct with ninja dropped back down near Y-1 at the support area mentioned last week. Bounce from support failed to clear Y-0 led to another drop to below Y-1. Closed the week above Y-1 and below midpoint.
B-0 / Y-0 resistance can lead to potential down channel over coming few weeks. Better bottom on 4 hours will give us a test of Y-0.
Y+1 cleared as expected. Consolidation action around Y+1. Closed the week above Y+1 and midpoint.
Condolidation with strong close implies above B+1 likely. Strong reversal from above B+1 and below B+2 quickly down to B-0 points to swing top in the making with B-2 and below target.
Consolidation actions around previous week close. Equal distance from previous week close established. Closed the week above Y-1 and midpoint.
3 Pushes Down target Y-0. 3 Pushes Down is not a high probability bottom formation, it is mainly a pause before continuation happens. Fit for the option expiration this week that disrupt the down trend for now.
Quick Access to Weekly Outlook Over Last 3 Months
2014 Aug 18 – 2014 Aug 22
2014 Aug 11 – 2014 Aug 15
2014 Aug 4 – 2014 Aug 8
2014 Jul 28 – 2014 Aug 1
2014 Jul 21 – 2014 Jul 25
2014 Jul 14 – 2014 Jul 18
2014 Jul 7 – 2014 Jul 11
2014 Jun 30 – 2014 Jul 4
2014 Jun 23 – 2014 Jun 27
2014 Jun 16 – 2014 Jun 20
2014 Jun 9 – 2014 Jun 13
2014 Jun 2 – 2014 Jun 6
2014 May 26 – 2014 May 30
2014 May 19 – 2014 May 23
2014 May 12 – 2014 May 16
Each symbol has its weekly STOPD levels drawn on the chart,
- Thick blue lines show the range of the week they are drawn on
- Thin blue lines are the midpoint of the weeks
- Thick orange lines are 100% expansion levels away from the range of the week
- Thin orange lines are the midpoints between thick orange lines and the thick blue lines
- Thick red lines are 200% exapnsion levels away from the range of the week
- Thin red lines are midpoints between the thick red lines and the thick orange lines
The last 2 weeks on each chart has the weekly STOPD levels labelled,
- The week just finished has its labels in blue. B-0 is the midpoint of the week. B+1 is the high of the week. B-1 is the low of the week. B-2 is the 50% downside expansion of the week.
- The prior week has its labels in yellow. Y-0 is the midpoint of that week. Y+1 is the high of the week and so forth.
Following is an example chart showing the forex pair USDJPY in 4-hour resolution.
Related research and articles on using STOPD weekly price levels.
Euro Dollar Price Action Biases At Weekly Extremes
British Pound Price Action Biases At Weekly Extremes
More research articles available in our Latest Articles section.