LuisVelazco

LuisVelazco

This stock has been holding up weel against the market's downdraft. I think it will make a nice swing trade when it retraces to point 2 or 3 within this Harmonic trend.

LuisVelazco

Looks like we're at a strong Fibonacci support /resistance area. If it breaks the downdraft of this area then a short lived bounce in eminent until it's met with two resistance points: Senkou span B (FIB .236 Ret) and Senkou span A (FIB .382 Ret) Nice swing trade. And as always, comments are welcome.

LuisVelazco

Chart initially drawn 2 weeks ago. Butterfly was added today. Again the RUSSELL respected two Fibonacci points drawn at 2 prior lows and it bounced within the zone. I'll go out on a limb and say that it most likely will make a pit stop around $1000 and then decide whether it will go and visit Fib Ret 2.618 or bounce back to life. As always, comments are welcome.

LuisVelazco

I love how price just finds Fibonacci Retracement points over and over again. This chart and the FIBS were drawn a couple of weeks ago using two different lows. the DOW retraced and found support at .5 and 1 respectively. Always fascinates me. If it can't hold this point then FIB 1.272 appears to be in order. As Always feedback is alway swelcome.

LuisVelazco

The NASX bounced off of FIB Retracement 1.618. If bounce doesn't hold , the next most likely stop will be $4040 for another attempt at a bounce. If I understand this pattern correctly the Butterfly pattern will still be valid as far down as FIB 2.618. If I'm wrong feel free to comment. I like using multiple Fibonacci Retracements because at different lows because...

LuisVelazco

Next stop on it's slide down to a 10%+ correction is $1834.68 FIB Retracement 1.618.

LuisVelazco

This weekly paints a less critical picture than my previous published weekly chart. According to Ichimoku, although it's under Bearish pressure the SPX is still in an upward trend. It looks like it will stay in this consolidation range it is forming for at least a few weeks until the Bears and the Bulls finish sorting things out. My outlook at this time is now a...

LuisVelazco

On the Daily SPX chart, Ichimoku Cloud is showing downward trend but it's weaker in nature.The next couple of days will determine if the Bulls are trounced by the bears or whether the Bulls still have some fight in them and shift back up before the Cloud's resistance is cleared. I'm neutral because I feel we are still in the thick of it and, although the Bears...

LuisVelazco

As I've come to understand it, there is some flexibility in these patterns with regard to their retrancement points. The rules are subject to interpretation and as such, serve more as a guide and not a ridged rule. That being said, we must not "massage" things too much to make them fit into our ideas. This is a mathematics based art and as such it has an organic...

LuisVelazco

Bullish Butterfly completed and on it's way up.

LuisVelazco

I posted this Chart 2 months ago. With all the Socio-economic disruption going on I think that all wee need is a catalyst to set the ball rolling downward. If I view this as a true Chartist and purely based on what the charts say then this also would indicate a reversal. ORIGINAL COMMENT: This is a monthly chart of SPX. I believe the market is topping out and...