JebusLives

JebusLives

A possible future for SPY. This one is kind of dark, PG14 stuff. Don't show your kids or your wife's boyfriend. Might see one final retest of the yellow channel bottom ~464, might not Support @456 - 50D EMA Support @450 - Previous rally highpoint Support @448 - Bottom of red channel I'll be watching 450 very closely for my next play. In this scenario, we...

JebusLives

Might see one final retest of the yellow channel bottom on the way down ~464, might not Support @456 - 50D EMA Support @450 - Previous rally highpoint Support @448 - Bottom of red channel I'll be watching 450 very closely for my next play. Ghost feed is a possible future based on a scenario where we bounce off 450. Looking for confirmation of a bounce on 450. ...

JebusLives

A few items of interest on this chart: Double Top around 470 November Rally didn't quite get back to the top of the yellow channel RSI and MACD clearly in bearish territory Breaking bottom of yellow channel It looks to me like a test of the red channel is imminent, we're going to see 450 and a test of the bottom of the red channel.

JebusLives

A possible future for SPY. If we hold 457, we could move in to this harmonic pattern. If we lose 457 (which we'll know about today) this is invalid.

JebusLives

Here's WTI vs CPG. I'm seeing resistance at the top of the channel, there's a really significant long term technical level to breakthrough here, it's unsurprising that there's resistance. .. but you can see oil moving up, giving CPG the energy it needs to break that channel. What do you see between those channels? Nothing but a nice big gap. This could run to...

JebusLives

CVE is currently fighting with the top of the 5 year price channel. WTI has clearly broken out of the previous 5 year price pattern, CVE is lagging. Earnings on Nov 2 - I'm looking for a big breakout there. After breaking out of the existing channel, the new range might be $15-$22 (CDN)

JebusLives

It looks to me like this chart has hit bottom. The ATR is approaching a previous bottom, RSI is trending upwards, but price isn't quite following yet. I'll save you some time doing DD - This company is a bag of crap - A huge pile of debt and cashflow concerns. .. but it's always darkest before the dawn, and $80+ WTI and a pile of new orders is what these guys...

JebusLives

The consistency of the bars, and the straight angle of that ascent - It's a thing of beauty, and something I don't recall seeing before. I'm not going to make any predictions as to what this means. I'd love to hear what others think, because you surely have more ideas than I do. 😅

JebusLives

I'm feeling pretty good about finding more 🚀🚀🚀 in this pattern. I know enough about Elliott waves to wonder if that's what I'm drawing.. I also know enough about Elliott waves to know there's a whole bunch of rules involved that probably invalidate this structure. US Crude inventories are building two weeks in a row now. If we get another report with a build...

JebusLives

If WTI makes a break up past $77, CPG may breakout of the current channel, attempting to gap up to the top channel. Sustained WTI >$80 is the catalyst we need there.

JebusLives

At the risk of being a nerd, let's take a moment to appreciate how perfect this bull-flag on the USOIL chart is. I'll be very dissapointed if it moves down after making such a pretty flag 😂

JebusLives

Rogers has bounced off the 200EMA & 30 RSI level a few times lately, looking for a repeat here. I'm looking to confirm a reversal and grab some calls. I think I'll go with a 2 week expiry, looking to hit PT1 or 2. Going for a month expiry might give you enough runway to reach for PT3.. but I think the theta cost outweighs the chance of hitting that target.

JebusLives

I'm looking to buy some SPY calls, and play the rebound on this next pullback. Here are the points I'm watching for reversal and why. I'm expecting the pullback to bounce on the 50EMA, somewhere between 440 - 443. If we pullback past 436 and that previous low, I think that has major implications for the current rally.

JebusLives

Previous tests of support, if we break down, do we head to the 200EMA?

JebusLives

I'm not in BTC at the moment, but I don't like the idea of being long based on the weakening RSI.

JebusLives

I'd like to see a push through the 20 and 50 EMA's, and some higher lows, but it's possible we're getting a reversal here. Back to $1.65 on a nice oil rally?

JebusLives

Looks like SPY is ready to make a HUGE downward move. I think it's possible that the RSI might even break up out of that wedge, but would subsequently fall. You can see a similar, but less dramatic effect on the daily. This, and converging moving averages on the VIX, and a shrinking ATR all tell me that the bands are narrowing, things are coiling up. A big move...

JebusLives

Looks a bit like a cup and handle, prices forming an ascending wedge in to resistance. Bullish MACD crossover on the daily is nice, and I really like the setup here, the stop loss is only a few percent. Another possible method here is to see if this dives to the lower end of the megaphone, and play a bounce off that. I'm not exactly clear on where to set my...