Welcome back to yet another technical analysis. T+69 has only failed once and that was Friday, Jan 7th, 2022 and all the other times it was successful. Although I considered it a failure, we still saw huge volatility that day with a high of $40.08 ($160.32 pre-split) and a low of $33.13 ($132.48 pre-split). This cycle, historically, has been the most accurate and it looks like we're heading into another 69 baby! Are we going to see similar events to Jan 7th or are we going to see a huge upside the week of Oct 10th - 14th?
Let's take a trip down memory lane and look at the last T+69s: After the events that unfolded on June 8th, 2021,
Friday, Aug 19th-Aug 24th 2021: +50.55%
Friday, Oct 29th - Nov 3rd 2021: +43.65%
Friday, Jan 7th, 2022: (Depending on how you look at it) -17.35%
Thurs, Mar 17th, 2022: (The week of RC and friends buy-in) +157.04%
Weds, May 25th - May 26th, 2022: +71.23%
Tues, Aug 2nd - Aug 8th, 2022: +49.22%
Mon, Oct 10th - Oct 11th, 2022: ???
Analysis
On the daily, it looks like we're heading into a death cross. The question is will this be another successful one or are we going to test it? Tiny gap to fill at around $25.42 and if we happen to fall we should see us filling another gap at $22.44 (visible on the hourly) and another fall below results in us touching a potential double bottom at $19.50. If successful, should we break the above resistance, we should see filling the gap at $37.30 and $40.27 and the off chance finally closing the gap that was left at $73.
As always, not financial or sexual advice. I eat crayons for breakfast and can't read.
Comment
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Strong morning as we were up 4.19% then we got pushed down. Thinking this isn't over yet, gap to fill at 27.49. We've also been making a strong support line at 24.86 and 25.23. Keeping my eye out for the market close today and tomorrow as well.
Comment
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Patience... previous T+69s didn't pop off on the day it was supposed to as it took some time to explode. At times it was 2-5 days later.
All of the above dates you've provided are either OPEX settlement periods which fall on the week following monthly options expirations and ETF (FTD) settlement periods which occur usually within the first 10 days of the month. Jan 7th was a liquidity grab in AH because of XRT REG SHO forced closures. That is where all this price action is derived from. I hope it works out, however ETF FTD's for this month are low.
@SierrasTrades, I’d like to see that gap fill at $40 soon; best of luck and thanks for the chart contribution
SierrasTrades
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@treytoyota83, Thanks for tuning in! Greatly appreciated.
M511808
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And t+69 is ridiculous, at least the way it’s being interpreted here. It’s been bastardized from the original creator
M511808
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ETF FTD’s will be why we run or why we don’t - it’s not about indicators or what ever else you’re seeing on the charts. Charts can’t and don’t produce volume during these periods.