DaddySawbucks

DaddySawbucks Updated 

Chart says it all. Bear trap. If this is impulsive move lower all the past week's down is just the first leg lower. A retracement to the 0.50 is most common. Shorts beware.

DaddySawbucks Updated 

Do not be fooled. Many again calling a new bull market. Not yet IMHO. This is a B wave and likely close to topping. Expect top within days, or hours. The ferocity of short squeeze rallies in bear markets is amazing. The best bullish moves often occur in bear markets! Because shorts scramble to cover, driving price higher. But this is NOT a buy and hold...

DaddySawbucks Updated 

The look and also feel of this latest weakness in price is very much like a fourth wave. Shallow pullbacks and choppy PA. This monster should sell in September, but an odd statistical curiosity is that most ATH occur in... September, typically in the first week. So the first few days of this new trading month could well be bullish. Notice the relative strength...

DaddySawbucks

Russell 2k dumped 170 pips in August over a few weeks. Now we got retracement to the 0.382 Fibo. Might squeeze up to the 0.50 Fibo. Start scaling in shorts in this zone imo. Final leg down ought to be a measured move to ~1740 price zone. GLTA

DaddySawbucks Updated 

Hellacious bearishness...mmmm yummy! All fun rides must come to an end, this one will stop loss soon imo. Look for a bend in the trend real soon. Friday is triple witching and could produce a near-term bottom. Bounce back to 4400 is the likely test. A real ferocious down draft may follow. For months I warned the Bear Market ain't over and the Fat Lady didn't...

DaddySawbucks Updated 

Bounced twice from this rising TL but this broke it. After a break like this price will try to regain TL, then reject. Short the rally within next day or two. Won't last long. The real bear move is coming next week imo. Get ready for a big red wave.

DaddySawbucks Updated 

Pretty strong down moves in a wild ride likely a setup for BTFD, CPI numbers Thursday AM the catalyst for retracement move. Probly don't wanna be short right now. Could tank again if more geopolitical news smacks it down but absent adversity, expect a lift. Any lift will be a countertrend move in a primary downtrend. Likely target is the 0.62 Fibo retracement...

DaddySawbucks

JW to again observe the divergence, I called this on prior posts, see what happens when RSI Falls in face of rising Price?! Well, fine, hope you enjoyed your bearish gains. You shorted, right? O, still holding longs? Well you might get a chance to close those out soon. Notice how oversold it goes, trading at bottom of Bolly Band, under 50MA... might be a good...

DaddySawbucks Updated 

Double Top RSI first top = 75 - 80%, overbought; led to a pullback then another secondary rally to a lower high where RSI second top = 61%. DYYDD

DaddySawbucks Updated 

Get ready for a big dump. Loading bear shares on every gap up. Capping 4600 at top of Bolly band... exhausted. Cup & Handle played out nicely. Guns of August will be blazing imo.

DaddySawbucks Updated 

PA = arrow up; RSI = arrow down. Divergent. Brief Description. Divergence Diverging.

DaddySawbucks Updated 

Price target 4575 based on extension from bottom of cup to rim. Breakout above rim is bullish and high probability of further extension. Bottom of cup 4330 to rim 4455 = +125, target ~4575. Move can come fast. Shorts beware. NB: Chart patterns are often DECEPTIVE and MISLEADING. DYODD! A pullback to fill the open gap is very likely. Closing the gap may spark...

DaddySawbucks Updated 

Twin peaks... double top... engulfing bear candle... rejecting midway between the fibos... it's a 2/3 retracement. Cries of 'new bull market!' are delusions... divergence is not bullish. Look at RUT. Rally was 1/3. Not even close to NAZ. NAZ rallied 100%, some issues ATH. Re-inflated bubble. Re-burst incoming... soon.

DaddySawbucks Updated 

IF it break not under, may get dip buyers and test upper band again. IF she breaks below, can get a sharp sell then lift back to TL before the big dump. Either way it won't go straight down... but you knew that! Watch and see. No position yet, closed all. NB: Indexes and many stonks have printed a 'measured move' A-B-C over past three months, since March...

DaddySawbucks Updated 

Pushing over top of Bolly Band. 400 pips above the 50DMA. Last time we saw this it gave up 100 pips in 2 days. But it could still go to the 0.786, another 100 pips above. After a melt-up like this the price may continue to creep higher for days, then give a retracement, printing a 'fishhook'. PA on 6/15 was astonishing. Opened and closed twice thinking; "That...

DaddySawbucks Updated 

"The Bull Market is back!" Say the TV talking heads. But in spite of the tech runup, small caps remain stagnant and 40% of stonks still trade below their 200 DMA. So, the 'bullishness' is limited to the glamour go-go issues. NVDA, MSFT, AAPL, MSFT, AMZN, GOOG META... etc etc all go higher, while the rest languish. That ain't a bull market, it's a Bear Market...

DaddySawbucks Updated 

The Great Fleecing of novices and fools continues. First, a massive year-long rally was permitted to run its course all through 2021, price climbed inexorably higher and higher to astronomic regions. Euphoria was universal. Stonks only go up! No time for Puts! gOgOgO!! Bulls made money. Second, came the Wyckoff distribution we have seen all year long in 2022,...

DaddySawbucks Updated 

Chart has it all. Notice every prior local top is a point, no plateaus, after squeezing the upper Bolly band, they rollover. August gap is a magnet. Once filled, much higher seems improbable. Fewer issues advance the price, moves up on lower volume, weaker RSI. Lot of participants been waiting to sell at this price. The dump after this rally dies could be...