Recent Articles by Mike Golembesky

US Dollar Moves Down After Hitting and Holding Key Resistance

After moving into the middle of the retracement zone last week for our potential wave (iv), the DXY once again moved back down in the direction of the larger degree trend.
by Mike Golembesky - 1 week ago

NDX Best Candidate To Break Out To New Highs

Of all the index charts that I watch, the NDX really is the best candidate for seeing a breakout to new highs.
by Mike Golembesky - 3 weeks ago

Markets Take A Day To Digest Their Gains

After seeing a strong day of gains yesterday the markets took a break and saw a relatively slow day while consolidating over support.
by Mike Golembesky - 1 month ago

US Dollar Still Looks To Have Some Unfinished Business To The Downside

The DXY still likely has a bit more work to do to the downside before we can call this entire move completed.
by Mike Golembesky - 2 months ago

A Week Of Consolidation For The US Dollar

After finally breaking down last week from several months of long and sideways action, the US Dollar took a breather this week consolidating in a very tight range.
by Mike Golembesky - 2 months ago

Russell 2000 Key Levels To Watch

Moving over the 1858 level while holding the 1795-58 support zone is the next signal that the yellow path is indeed the operative count for the Russell 2000.
by Mike Golembesky - 2 months ago

Leading Diagonal To Downside

After holding the 61.8 retrace yesterday the Nasdaq 100 Futures (NQ) moved lower in what, like the ES, can count as a leading diagonal to the downside opening the door to this having put in a top for the wave ii/b at the 12,098 level.
by Mike Golembesky - 3 months ago

Big Week Ahead For The US Dollar

After moving higher the previous week, this past week saw the DXY once again break down and now retest the lows that were struck back in the September, putting us in a very key spot moving into this week.
by Mike Golembesky - 3 months ago

Nasdaq Paths Point Lower

Both of our projected paths do point lower in the Nasdaq 100 futures as the downside pattern is still looking quite incomplete.
by Mike Golembesky - 3 months ago

Potential Truncated Top For Russell 2000?

Ideally, I would still prefer that high to be broken to finish off the wave ((5)) of v of 1 as shown in green on our chart, as this would be the cleanest of patterns.
by Mike Golembesky - 4 months ago

No Signal Of Top -- Just Yet

The Nasdaq 100 is still trading over the micro pivot level that I laid out yesterday, so we do not have any signal of a top in place just yet.
by Mike Golembesky - 4 months ago

Eyeing Lower Levels On Nasdaq Ahead Of Next Break Above ATH's

Both NQ counts suggest that lower levels will be seen before we break back up over the all-time highs.
by Mike Golembesky - 4 months ago

US Dollar Presses Higher And Approaches The Upside Resistance Zone

After consolidating last week, the US Dollar Index (DXY) began the expected path up for what is looking like the wave (c) of ((iv)) shown in the path in white.
by Mike Golembesky - 5 months ago

Looking Lower In Russell 2000

The Russell 2000 (RUT) appears to be topping in wave b and ready to begin wave c of the larger wave 2 down.
by Mike Golembesky - 5 months ago

US Dollar Turns Back Higher After Poking Under Support

The US Dollar Index (DXY) moved higher this week after poking under the 200 extension level last week. We still are not quite out of the woods as far as this potentially still seeing further downside extensions.
by Mike Golembesky - 5 months ago

Topping Action In VXX

After a sharp move up yesterday beyond our 27.17 target area, the VXX saw a retrace of just about 50% of that move into the close.
by Mike Golembesky - 5 months ago

Are We There Yet?

Has the S&P 500 arrived at a top for the larger degree wave 3 that we have been looking for over the past several weeks in this region?
by Mike Golembesky - 6 months ago

Market Still Over Support, But No Breakout Yet

As long as the S&P 500 is holding over support, the near-term pressure does remain up.
by Mike Golembesky - 6 months ago

US Dollar Finally Breaks Down

This week the US Dollar Index (DXY) continued to move lower and has now finally broken under all of the key support levels that I have been noting for several weeks.
by Mike Golembesky - 7 months ago

Market Showing Mixed Signals, But Still Over Support For Now

While the market has yet to fully show its hand here, we are closing in on some fairly key support levels.
by Mike Golembesky - 7 months ago

Near-Term Pressure Still Down In US Dollar

This week the US Dollar Index (DXY) continued to consolidate under key resistance at the 97-69-98.48 zone.
by Mike Golembesky - 8 months ago

Market Trying To Confirm A Top

Today the S&P 500 opened up again moving well into overextended territory.
by Mike Golembesky - 8 months ago

Approaching Local Top - Market Analysis for Jun 4th, 2020

I still think the Nasdaq 100 (NDX) is getting close to at least a local top even if this does grind a bit higher first.
by Mike Golembesky - 8 months ago

Patterns Getting Quite Full

We still do not have an initial signal of a top just yet, but the pattern on the Nasdaq 100, like with the Russell 2000, is getting quite full.
by Mike Golembesky - 9 months ago

Local Top Forming For Nasdaq?

The structure of the NDX move up off the 8562 low now counts better as a 3-wave move rather than a full 5 up.
by Mike Golembesky - 9 months ago