Long story short: If it breaks out above 2k and VAH, it won't get resistance until 2200. Then after that we're looking for 2.5k->3k on our way to Tendie Town!
I see limited downside here, maybe 1900/1850; but worst case scenario it catches support at 1500 or 1750 area and we just make even more money as it runs back to Tendie Town! Choo Choo!
VZ had great earnings, along with their parent company T. Both putting in Three Drives Down Patterns, indicating Seller exhaustion. On this chart I'm also getting Wolfe Waves, which how I arrived at the $46 target well above VAH, but VAH should show some resistance and may be a good place to take some profit.
T is near 25 year lows and put in a three drives down pattern showing selling exhaustion. It could easily run to VAH for +100%. Today's daily candle is a huge bull hammer and they had great earnings, along with VZ which they own and has a similar chart.
Cleveland Cliffs $CLF looks primed to break out of it's falling wedge pattern. They are a Steel foundry. Up top is Iron and Steel price index, showing it's up and holding well. So that should help. CLF was a favorite on WSB last year and it was recently downgraded by Jim Cramer, so it has that going for it. Visibility at least, with this chart pattern could lead...
Axis has been ranging and consolidating for over 6 months now and has been making some bullish high volume moves lately. It could still drop another dollar to previous lows and be bullish from there; but I anticipate it making a higher low before then. BTC looks like FWB:25K support, so that could help fuel an alt rally.
First target in the $9-10 range; but...
We may have much further to fall, tho maybe not right away. Looking back at least 20 years, whenever NAS RSI has been 40 or less, it also tested 100W or 200W emas. Only one time it didn't, but came very close.
Volume keeps dipping lower and lower. It's some of the lowest volume we've had this year. Soon, it will jump very high and prices will come down with it.
There's another example from late December below.
Generally, high volume is bearish and low volume is bullish. High volume bull candles tend to be bottoms and the volume tapers off as it runs up. One way to spot a coming reversal, is spotting a a substantial volume drop off from the previous candle/trend. Volume drops off when the momentum of the up/down move is exhausted. Those who were gonna sell or buy the...
It doesn't get more obvious than this. We're probably headed back to 12k at the very least on a corrective wave. Fed GDP forecasts are really all you need to see to know lots of rate hikes and taxes coming soon. It's halving every year, and that's an optimistic estimate. Don't wanna spook the market. fred.stlouisfed.org
This is Job openings minus continuing jobless claims. It makes the trends clear as day. There's another crash coming this year. There are only 1.7M job seekers and 10.8M open jobs. They will not get filled. They will close and the market will crash.
In 2008 the Market rallied after the Bear Stearns collapse near March Trip Witch. Other banks stepped in to buy it up and disaster was averted! Or rather a 6 month stay of execution for the rest of them... The week of Sept 15th Lehman Bros collapsed, followed the next week by WaMu, then the next day by Wachovia. Wachovia would've probably survived if the other...
QCOM was the hottest stock of 1999, and had a similar fall from grace as the biggest tech names of the time, if not faster. Some of the top tech stocks by market cap were: MSFT, CSCO, INTC & IBM
I believe in a 2-3 year bear market, but we are pretty close to 2000 levels in a lot of major Tech stocks already. A lot of people wanna sell it to the floor as fast as...
Metal bulls aren't well versed on the history of metal spoofing and the reason they do it, vault insurance limits. Allow me to educate you.
“With this verdict, the Department has secured convictions of ten former traders at Wall Street financial institutions,
including JPMorgan, Bank of America/Merrill Lynch, Deutsche Bank, The Bank of Nova...
VIX looks forward 30D and VIX1YR looks forward 1YR. So the divergence between them (VIX1YR-VIX) is interesting. On a monthly timeframe it seems to make an excellent Spy pivot indicator. It's noisier, but works on lower TFs as well.
Out of all the indexes the FTSE one has the cleanest looking 5-3-5 pattern. Perfect ABC to the vwap from top. A pivot here should start another long 5-wave down. 5th wave extension will cover the most ground on capitulation.
History doesn't repeat, but it rhymes... I copied the bar pattern twice and pasted it for a general bearish plot. May see a relief bounce Friday, but I suspect more down follows next week.
Any large deviation would invalidate it. These fractals, & plots in general, tend to get less accurate the further out they run.
I didn't short based off of this alone, but...