Ape

Ape

In my elliot wave analysis of crude oil, I believe there is a great risk reward trade here to the downs side. After making 5 waves down, I believe oil may have just completed an expanded flat for the 2nd wave. This sets up a trade that should be strong in a third wave down. The initial target is a fibonacci ratio of 1.618 of wave I. A more accurate target can...

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I have identified the market to be in a running triangle. You can see how the first 4 waves of this triangle subdivides into 3 wave structures. Right now the market is completing the "D" wave. This wave can rise even further to all time highs. If this does occur then this will become an "expanded triangle." However, this wave can end at any moment, thus...

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In my analysis I see gold completing an ending diagonal to finish its' 5 wave move up from the lows in December. This will result in gold giving back some of its' gains in the coming months. It is common to see overthrows in ending diagonals which is why i think price can meet wave III at 1285, perhaps even higher, before making its' decline. However, because...

Ape

Analysis: Since retesting the August low, the market has made a triple bottom. Since then the market has rallied significantly, and is now approaching key areas of resistance that I will be watching closely. The first test is the 50% retracement at 194.37. This is where the market rallied to earlier in the month after it first tested the august low before...

Ape

With the markets bouncing off its' lows and come roaring back to close the week with a gain, it has left many to wonder if this is 2008 or 2011 playing out. The argument for a continued bull market is that the market did hold the previous support of October's 2014 sell off, and put in a weekly reversal hammer. Also, the market was able to hold its' long term...

Ape

Hello fellow traders. I am sharing a possible breakout signal in the form of a symmetrical triangle pattern. While we did see a close above the upper trend line to confirm this breakout signal, these do have a fairly high throwback rate. Playing devil's advocate, the market can make a double top at the 198 level, or reverse at the 200 resistance. To confirm...

Ape

I am posting key areas that I am keeping an eye on. The market has certainly become a lot more volatile as of late but has still been respecting areas of support and resistance. The market sliced right through the support channel that had been made throughout this year. There was a lot of accumulation in that 205-213 range, and I am looking at this area to...

Ape

I am posting a possible head and shoulders pattern being formed. What this could indicate is that the market is forming an intermediate top, and this recent rally is a correctional rise with more lows to come. a close below the neck line would be early confirmation of the H&S pattern. The alternate situation is, in terms of Elliot Wave Theory, there is a powerful...

Ape

DGLY is a real small time company in the audio & video equipment industry. The industry as a whole has been in turmoil suffer -30% in returns in a 6 month period. DGLY, undeservingly has been outperforming the industry. It only has 3.5 million float so it will experience severe price swings. The company has been suffering financially as total revue has slipped...

Ape

How do you not like a stock that doubles in a little over a month? PBR killed it on their last earnings report and it has been on fire ever since (with the help of the energy market). Pull up a monthly chart on this stock and you can see their is a lot of momentum behind this move. I suspect this rally to last another 2-5 months at least. Expect a strong...

Ape

Last week I posted Crude with a daily candle indicating the possibility of a reversal. Here the weekly chart only confirms that possibility as we see a reversal doji that matches up with the signaling of a top in the daily chart. I am still long term bullish as any pullback to the 50-54 area will be seen as healthy for oil. My long term target remains 68-75.

Ape

In my last post I presented a possible long position after what appeared to be an over reaction to earnings, but I also warned with a brake of the wedge pattern we could test the lows. After gapping down the following day, CHK rallied strong and put in a bullish reversal candle and followed it up with a continuation on Friday. So far the gap down appears to have...

Ape

This chart is a little busy so allow me to explain what whats going on here. The Green trend lines is long term support/resistance formed in the 4th quarter of 2012. The red trend lines were formed in late 2014. And the blue trend lines is the most current trend. Ultimately, I think we are going to get a prolonged period of sideways volatile action out of...

Ape

This chart is very interesting to me. First check out that near perfect triangle formed by the resistance and support lines. I think this is going to set up a great trade in the bottom right of the triangle. For now now HPQ has a little room to run to the 34 area before butting into the trend line and turning back down to test the support region of $31-32. ...

Ape

Very early call here, we would have to see price bounce from here to even consider this possibility, but as of now it is a POSSIBILITY.

Ape

Need strong move through this upper trend line otherwise bears can take back control

Ape

I have identified a potential inverted head and shoulders pattern developing in Dal. Pattern is confirmed when price closes above the neckline. Target can easily hit 52, but a more conservative target would be just below the high in case of double top formations. Why I like this trade: 1. Dal, along with the rest of airlines have reported strong earnings. 2. As...

Ape

Now don't panic Oil bulls I'm not saying top is in. But I do think we can all agree that crude is due for a breather after its' near 50% run up from its' lows. This is NOT a good candlestick pattern, and todays' price action after the inventories report was not exactly inspiring me to add longs. It is after all just ONE days worth of price action so we will see...