At the top of trend line - looks like this upcoming coming week is down week. Overall the market balancing for a much bigger move.
Bulls showed up today. We've pierced thru a couple significant resistance levels in the past couple days. But will it continue? If we're going to go long at this point we want to see a big volume candle bust thru the cloud, pullback and bounce to continue the trend that's been developing over the past couple days. Momentum has been steadily rising over the past...
if you pull up a 2-day chart of the VIX and analyze price action using a 200 period MA, you'll notice that price action NEVER creates a pocket of dead space between its moving average and the price action (see turquoise boxes), except prior to a period of major/increasing volatility. I've highlighted the present anomaly as well as the 2007-08 global financial...
Uncertainty will cause a minor drop. But things should pick back up as long as D.J.T stays president. This is how I'm looking to play things if you disagree let me know why I'd love to hear from you. This is a MACRO trend analysis so I'm leaving some room for breaking news and price action.
You can speculate on future price, that's futures. Speculating on the degree of future price movement, that's SPXL. Not many people leveraging up 3x to bet on upside, SMA 21 can't even keep up! This thing free fallin like full moon fever. Next week should be fun B).
I know a lot of bullish investors want to call this a bull flag. But a quality bull flag has tight price action, or at least PA that doesn't meander. The tight descending price channel seems like a good place for price to return over the next few days. It's the only region where PA has been consistent (tight) in the past week or so. Anything above this channel...
I would not be bullish until we see this distribution wedge broken. Price action is misleading.
The market tries to give hints about what direction it's heading by giving us pivot points. If we look back over the past couple months, we can see a point of confluence where price action looks like it got into a really bad accident. Immediately prior, it took a spill and formed an ascending triangle. The point of confluence is the juxtaposition of FANG (and...
Well at first I was thinking this was going to be a gap-up Monday, but I'm thinking we'll see a retracement in the AM followed by another slow, low volume trading day. The market seems ambivalent to buy or sell, given the pending deal in Congress. I'm net short; if I get closed out tomorrow AM, planning to stay in cash for the remainder of the week, or until we...
Won't know if this is a continuation or reversal until we see strong volume pushing price above/below the handle formation, and holding. The daily/weekly picture for SPX is not as doom and gloomy as short sellers would like. A lot of investors want to see the upper channel of the multi-year trend channel tested once more before we go into full recession mode...
Is the market breaking out or still correcting? I can make a case for 5 waves up from March with a correction that potentially started in September. This could also be the start of wave #5 which puts price a good bit higher. I cannot determine that yet- price would need to drop hard very soon to convince me of a continued correction. There's just one red flag on...
I expect this pattern will take about (6) months to develop. There's a lot of denial going around these days, and I think that has contributed to numerous traders (say, half the country?) eager to put us back into that bullish ascending channel where we were up until Covid-19 arrived. The other half of us are gazing at these charts shaking our heads in disbelief;...
I chose the 4-hour chart for this pitch since it's a perfect blend of all of the time frames leading into next week. A handful of indicators show price divergence in the lower time frames: 1. Volume-weighted RSI 2. Increasing selling volume 3. Accumulation/Distribution Each of these indicators are fairly bullish AFTER the retracement, which is why I'm...
SPXL Megaphone pattern is broader and what's worse is that Price only made it just over HALFWAY back up rather than all the way back to the top again as SPX achieved. Now SPXL Price is barely hanging on at dead center of the Megaphone and the trend here is overwhelmingly more BEARISH than the SPX trend would suggest. I pegged these two starting from the first...
When this thing breaks Mon or Tues, we're supposed to get some upside reversal movement but that won't last for long. Will make for another good short entry point here before it continues heading down through October.
There are a lot of new traders getting wrecked. I'm sorry. Follow the trend. Follow price direction. Remember: The news is irrelevant. Follow price. Can you keep your money in the right direction?
Still in it's infancy but we got the start of our SPXL trading range and Treasure Map. Targeting at least magenta $42 line here before even considering any longs. Solid chance we'll get down close to bottom of this megaphone in long run before any new ATHs.
Just look at this massively oversold market. At 3x leverage the Bulls have entirely chickened out of the market to an astonishing degree. One of the best data points I've found for the dead cat bounce case. While SPX was setting ATHs, SPXL was setting dramatically LHs. Finally found the ideal market to long SPX with UVXY profits when the time is right B).