I'll let the formations do most of the talking. The diamond tops are some of my favorite technical chart patterns, but this comes with a couple added points:
Break the area of support on the Diamond's right side
Must have a lot of volume after breakthrough
Some important news backing the move
Declining Momentum indicators or crossovers are a bonus
Another idea why the $SPY has had an incredible run. A simple and effective analysis - K.I.S.S!
DIFF = -
The spy has historically respected the daily 200 MA. In four different sequences, we see 3 times where there is 1 return to the daily 200 MA over an extended period of time:
1. 463 Days : DIFF - 37.98%
3. 272 Days : DIFF - 23.92%
Boeing has been beaten down like its 737 Max8... But with easing regulations on its planes, people wanting to travel, and vaccines becoming more accessible - the airline industry is going to experience some BOOM.
THE TREND CASE:
On the bull run so far, BA has displayed a repetitive pattern climbing through different areas of support and...
Incredibly Bullish on this trend around BTC
Here are the major tenets of this analysis:
Recently broken inverted head and shoulders
Recently broken ascending triangle
Recently broken 200 SMA (which has been a good indicator for demand zones)
Strong trend on the RSI without being oversold
We've seen a lot of respect for the 200 SMA to identify areas...
EVs have had quite the run these past 365 days. The time of reversal and realization has hit the public.
If you caught it, you could have made off pretty. Recently, NIO was negatively diverging on the daily MACD, and then formed a triple top formation before starting its reversal trend.
Now two big key events are taking place:
We are breaking a key...
After reaching highs in August, gold has been taking back some gains on a tremendous run... But a bounce is coming.
3 Major Tenets
Since The summer, Gold has run a continuous pattern: Running up on a trend, and falling on a bull flag channel before popping again. Also, The MACD on the daily chart hasn't been this low in a few years. Though momentum...
We see increasing volume with increased volatility. There was a failure to reach new highs while the MACD is reaching a point of reversal. Around this level we see some pullback action, and the fact we have more volatility adds to the thesis.
The price has been moving in this channel right as the MACD is aiming to reverse. Once crossed, I am short.
RSI Overbought - Last time the RSI sat above 70 on the weekly was first week October 2011 through early November, where the price tried multiple times for +$60 and some change. Failed to $47, looking for the same sort of retracement. Negative Divergence.
Volume - High new volume this past week. My thoughts are sellers taking their profit...