Madrid

Madrid Wizard

The events since September 2020 and April 2021 are a classic text book accumulation / distribution. The old saying says "Never short a dull market". Bitcoin was able to trade between 6,000 and 10,000 and it was bouncing in a range for a while. The volume had peaks in March 2020, when it was the mayhem in the markets, and once it recovered it kept discretely...

Madrid Wizard

Currently $TSLA found support at 540, where it started the rally up to 900 and it made a bounce in early March. It just hit the 540 level again to test that support. If this holds it may try another rally heading to 800, which is my target price. Any thing from 540 to 800 is a good earned money. If the support doesn't hold it may fall to 450, where it will...

Madrid Wizard

There is a slanted Head and Shoulders pattern forming. The neckline doesn't have to be perfect to call it a H&S, the left shoulder has momentum and volume, the head shows a momentum divergence and a fall in volume and the right shoulder made it to the Resistance level of the left shoulder, with a very weak momentum and a very reduced volume. This market may still...

Madrid Wizard

Introduction If traders back in the day would have had the modern technical analysis tools they could have forecasted the market crashes more easily. Once the past is gone it's gone forever, but we can always go back to learn from it. Those who ignore the past are doomed to repeat it. In this publication I back tested a couple of tools which basically detect...

Madrid Wizard

Economy Analysis $DIA $SPY $QQQ $UVXY $STUDY We’re witnessing an extraordinary period of time in World History. We recently had the biggest Market loss ever, and the largest market recovery rally as well. We came from a pandemic that paralyzed the world. Weak businesses have gone bankrupt, but the strong ones still have to struggle with the low demand of...

Madrid Wizard

$SPY $DIA $QQQ $IWM $UVXY : This market has been doing higher highs on a volume divergence and already on a VIX divergence. The VIX has found a support level and it has been consolidating at 28. A reversal is expected since those that bought the panic have already made a profit and those who were caught in the euphoria are close to break even. It makes sense...

Madrid Wizard

$SPY $DIA $UVXY The SPX trend had remained intact since this bull market started in 2009. There have been scary trend corrections but the main trend has been pointing at higher levels until now. For the first time since the index meaningfully breached the trend in an attempt to find support, which was touched t 2190 points, slightly above the Obama's bull...

Madrid Wizard

This chart shows the COVID-19 cases worldwide and the top 7 countries as of the date of this publication. We're in the process of reopening the economies, but since the curve has not flattened we're risking that the numbers will pick up again. The economy can't be halted forever, and unless an effective and efficient treatment is released along with preventive...

Madrid Wizard

This chart shows the the confirmed and recovered cases and the number of deaths after the COVID-19, it shows the cases globally and it breaks down the detail of the countries with the most cases reported. We see a flattening curve for China, and an alarming rise in the case of the USA, which became the epicenter now. What is alarming is the acceleration curve,...

Madrid Wizard

Using the TradingView tools recently released to analyze the COVID-19 I coded three indicators that summarize the virus activity in the world. The first panel shows the total confirmed cases, the second the number of cases per country showing the top 8 countries with the most reported cases, the third one is a comparison in absolute terms of the number of...

Madrid Wizard

This analysis includes a study that measures the mortality rate and the recovery rate. 4.5% deaths vs 23.1% recovery. There are extreme cases like in Italy where the mortality rate reached 10%, and other cases like in China, where the recovery rate is at 90.2% and the death rate is at 4.0%.

Madrid Wizard

COVID-19 Status This is a summary of the COVID-19 cases, this summary shows the total cases reported worldwide, the recovered cases and the deaths due to this pandemia. Then it shows a country by country number and it can be compared how each country has managed the crisis. Cases World 529,591 USA 83,836 China 81,782 Italy 80,589 Spain ...

Madrid Wizard

The previous analysis spotted a consolidation triangle. This one didn't gain enough momentum to break the upside and it hit hard with the upper resistance triangle, both from the short term trend and the long term trend. This made this market to overreact and dump massively until it reached the lower trend support. There is a bounce here that pushed the...

Madrid Wizard

First and foremost this is not about politics, but about finding numbers and facts. The recent meltdown has wiped off $6T in just four weeks, if we remember what happened in 2008, back then the Dow Jones lost -7,700 points from top to bottom in 17 months, and wiped off $6.9T in Market value. The two bar patterns in the chart show the comparison between Trump's...

Madrid Wizard

The technicals show the quote fell to the level of the support channel. This is technically a correction, but a very painful one. This support level can still serve as a slingshot to attempt another travel to the upside and see if it can retry the all time high. Another thing that could happen is that the market stops at the 300 level or lower and it would...

Madrid Wizard

There is still room to run. At this time there’s a support at 270, 260 and worst case scenario 230, it touches the main trend area and it could be looking to test support. The virus was a trigger, not the main reason, the indicators show a loss of momentum and currently a reversal. The emergency interest rates cut helps, but it makes sense if the tree is...

Madrid Wizard

All sectors were hammered, basically there was no safe heaven , except for shorts, puts, vix, bonds. Gold and Bitcoin were still in the green, but they were hit too. It is interesting to see the support there, both in the real gold and e-Gold.

Madrid Wizard

Bitcoin has been consolidating inside a triangle HL-LH. The indicators say bullish, so the recent drop means it is just a corrective move. There is not enough momentum in the weekly to commit a line here. When it won't be a correction any longer and could be called bearish? It will be when there will be closing values below the 6,000 - 7,000. If 7,000 holds then...