Picture is self explanatory. These peaks and troughs are identical to the ones we had prior to the breakthrough of the 10.5k neckline.
Movement again feels bearish just like it did prior to the breakthrough. What people are overlooking is RSI. Look at the reset it had from the current run already without losing price, and identical pattern it had from the...
Many are starting to say that BTC and SPX movements are on in the same. The claims are both true and false.
When the COVID reality hit, all markets reacted the same- A big selloff.
These panic selloffs are a common occurrence that leaves NO market immune. Not even Gold when any significant shock hits the market.
After initial shock, the market shifts from the...
Quick post here just to get people to focus on the bigger picture.
MACD and RSI.
There is this massive inverse head and shoulders that has been forming and is almost symmetrical on both indicators.
It does not have to be completely symmetrical for BTC to take off BUT HISTORICALLY that -400 MACD or greater (more negative) has been the local bottom.
RSI has also...
Two reasons for posting this chart.
1) MNK is a long standing established generic and specialty manufacturer with products that have real usage. This is NOT a one hit wonder biotech. It would be bought out before full bankruptcy.
2) More importantly, when was the last time you've seen a CLEAR bullish divergence on a MONTHLY chart?
This will be a bag I hold...
CVS is not just a pharmacy anymore, it is a healthcare brand
Minute clinics with healthcare providers, pharmacies, but most importantly, one of the top insurers in the country.
This means from top to bottom, CVS will handle your outpatient visit, insurance claim, and dispense your medication. One stop shop. Their future is bright
Huge inverse head and...
TDOC hourly showing a falling wedge within a larger symmetrical triangle.
Bullish Divergences on hourly RSI and Stoch RSI.
MACD bottoming with slight divergence as well.
Finally a good volume buy this morning, but more is needed.
How to play this:
1. Wait for breakout of the falling wedge (safest)
2.RSI trendlines tend to break out before price does. If it...
As everyone knows, the airlines have taken probably the worst of the hit from the pandemic.
If you take a look at the weekly for all the top airlines and BA, they all look very similar.
I present American because I like feel like this chart has one has more defined risk areas due to recent price action and currently sits at one of its strongest supports in the...
LAKE has one last upward trendline to rule them all dating back to December 2019.
Bullish divergences on the 4 hour and hourly.
MACD crossing bullish on the 4 hour (bottoming on the daily).
Daily sitting right on the 200 EMA.
I would not be surprised to see a shakeout Monday/Tuesday down to the 200 MA at 12.50 before this thing runs.
A close today at 13.40+ would...
SPY is presenting a myriad of bearish signals.
With the daily being so condensed, you can see it more clearly in the hourly.
1. RSI multiple bearish overbought divergences
2.Just as important as 1, the volume decrease each hour to an increasing price
3.MACD/Oscillator bearish divergences
4. Overall rising wedge
5. Approaching .618 retracement at 293
After an onslaught against oil, this thing looks ready for a major reversal.
Multiple bullish divergences on recent lows on every time frame.
Macd about to cross over on the daily.
I’m hoping I can jump in below 8.50 tomorrow morning.
First target is the gap fill at 12.7.
Ascending triangle reversal.
Ideal scenario is a close below 4800 creating a bullish divergence on RSI to match the bullish Reversal pattern.
MACD will bottom if the pattern holds. It is the most negative it’s been since the drop after the 2017 bull run.
If this ascending triangle holds, I believe this is THE bottom. If not, 3500 is the next support and I’ll...
I will be honest and say I did not think the 7k region would fall as it did. There are multiple silver linings though.
RSI: Extremely Oversold.
Fibonacci levels: .786 retracement is 5400 (which I believe is bottom).
At Support levels from back in April 2019: 5500-5000
There’s a pretty clear, albeit wide, trading channel here.
This is probably the lowest...
RSI is coiling up after creating multiple bullish divergences.
Normally, these bullish divergences are clear signs of an upwards move, but no telling how many more will form before the significant move up in price will come.
In this case significant move is incoming tomorrow as the symmetrical triangle forms in RSI. I still think it finishes up by end of day...
BTC coming off the inverse head and shoulders and breaking out of the 6 month downtrend.
It’s looked sluggish since, but there is still a bull flag forming. Not the strongest I’ve seen, but a retest is at the bottom of the bull flag at 8k
8k in a few days for a retest. If it breaks back down out of the bull flag and back into the 6 month downtrend region, then I...
The VIX monthly chart is looking like it’s getting ready to take off.
By end of March we will see some instability and a substantial hit to the overall market.
Whether it’s just another dip to buy or the start of something bigger is unknown, but the markets will hit a bump at the minimum.
Stay safe in 2020
Ascending Wedge Reversal.
Volume is there and ready to go.
Generic opioid manufacturers have been beaten down recently over fear of a copious monetary fine, but MNK has an established diverse profile.
Do NOT miss this stock when it runs.
Break above $4.15 and were off
Long Term Target: $12.90