About meI have been investing for over 15 years and actively trading since 2013. These are just ideas as I observe the market. No ideas or anything mentioned through this account should be considered investment advice.
Silver broke out of a descending wedge, a consolidation after its February 2022 run. The 2X silver fund AGQ is looking great here with a technical breakout retest. A bullish MACD cross will likely send this to $50 + then it is going much higher with silver. Precious metals are about to have their moment as stocks and crypto sell off.
2009 broadening wedge resistance directly overhead. Base of wedge from Feb 9th to March 2nd of 2009. Overhead resistance range: January 2022 = 5100, January 2023 = 5400. Resistance would trigger a 'big short'. Simple lines, no need to be Michael Burry.
The S&P put in a Gravestone Doji for the month of November, similar to January of 2020. The month of November closed with heavy selling during and after Black Friday.
In my opinion, the recent S&P rally is very unhealthy and reminiscent of the January/February 2020 price action. In January 2020 we had a similar Gravestone Doji with markets rallying to new ATH's...
I have followed Vertcoin since 2016. Vertcoin has it's own halving cycle and each cycle the coin has a large rally. Vertcoin halving is around the corner, currently on schedule for December 8th, and the chart is technically bullish. Here is why:
Nearing a Golden Cross on the Daily.
Nearing a Golden Cross on the Weekly.
Weekly RSI gaining strength.
2017 trend line...
Similar to #ES_F, IWM had signs of a false breakout while everyone was clamoring for a Santa rally. Though we did breakout after an accumulation period, one that lasted almost the entirety of 2021, we had trend line resistance from the 2020 lows directly overhead. If we lose the 2021 accumulation zone, selling could accelerate with velocity.
BTC has been operating in a long term channel with 2017 channel resistance directly overhead. There is limited upside here and we are likely entering the early stages of the 2022-2023 crypto bear cycle (Crypto Winter) before the next halving cycle in early 2024. Caution is warranted here for Bitcoin longs, potential double top forming.
HYG put in a Death Cross last week and this week, on November 22nd, HYG lost the October 11th low with SPY selling off heavy into the close. We may backtest the October 11th low but this is a potential negative indicator for equity risk on. Equities tend follow lockstep with high yield, or so they have with every major selloff since 2007-2008. This is something to...