MoneyPatterns

MoneyPatterns

Daily view shows DJIA still ready for correction to continue downtrend. RSI, Fisher Transform, and Filter Dots all confirm price action just began downtrend. We will either go to First Stop resistance, or continue to main wedge resistance (slightly below). After this we need to watch for further breakdown possibility, or uptrend to 30,000. I feel that DJIA 30,000...

MoneyPatterns

Ascending wedge pattern, within another ascending wedge. DJIA shows that broader correction in all equities should happen soon. Market is overbought, pattern is exhausted. Failure of inner ascending wedge still puts price pattern in other ascending wedge. Both bearish. This price action confirms that SPY should see further down movement. I will put up another...

MoneyPatterns

Watching SPY and VIXY recently and the inverse relationship between them. VIXY is at all time lows, RSI bottomed out. SPY is at all time highs, RSI topped out. Perfect time to do a Bullish Put Credit Spread on VIXY - collect the premium. $340 risk, $2500 reward. Then buy SPY put 30 days out. $485 risk, unlimited payout (but realistically $775-$1500) We should see...

MoneyPatterns

GBTC confirming BTC chart bullish reversal coming soon. RSI is low, almost at 30 where it always pops shortly thereafter. Fisher Transform ready to flip, same as BTC chart. Filter Dots show bearish trend is exhausted and ready to flip bullish, same as BTC chart. Gaps Only down gap to fill (red box) is cut off by log support line which has over 20 points of...

MoneyPatterns

Price on 30Min view shows falling wedge pattern, which is normally bullish. Given downtrend, I feel this is false. Daily view shows we are going down, and downtrend has just started. Major uptrend in Daily has ended. Correction in 30Min shows downtrend begun. We may rebound at end of falling wedge. This is false breakout. Possible to enter downtrend or add...

MoneyPatterns

Daily chart shows RSI turned down crossing trendline. Fisher Transform flipped bearish. Filter Dots confirm bearish downtrend has stared. In my opinion, this correction should last at least a week up to one month (Christmas). Possibly greater correction if determined in December. I will update a 30Min Chart for Part 2 of 2. Thank you for liking, commenting,...

MoneyPatterns

AMD is severely overbought. It was downgraded in price this morning saying that fundamentals are overvalued. Red boxes are down gaps to fill. Ready for shorts or Puts. - BEAR FOOD Looks for plenty of time to enter safe and exit safe here. Competitor NVDA is looking stable, so probable that funds seeking chip coverage (not ETF) will go to NVDA not stay in AMD...

MoneyPatterns

BTC has been profitable for 98.66% OF ITS HISTORY bitcoinist.com Any short term losses people have EVER had with BTC, were only due to the persons inability to HOLD. Good - We are not bearish as we are still in the primary pattern, which is the wedge from May 2019 until Present. - We have two support lines to fall on, both will plenty of contact points. -...

MoneyPatterns

2nd glance at this chart showed an ascending wedge pattern, instead of the channel from previous chart. Ascending wedge is normally bearish. Slope of wedge is high indicating break to downside. MSFT barely broke daily trend line today (thin white line). Max entry price for shorts/puts which I was considering was $155. I do not think we will get to $155. All...

MoneyPatterns

BTC is ready to make the turn folks. Get in where you fit in, or get left out. Gaussian Channel is holding for almost a month. Price has followed trend into the "Buy Zone" - $7900-$8600ish Short-term support is holding with multiple points of contact. I do NOT think we will go down to the log support line. In the past this happened 3 years post halving, which...

MoneyPatterns

I am overall long MSFT, but nothing goes up forever. MSFT is becoming overbought on the Daily, as much of the market. All red boxes are gaps to fill. Price may stop at $134 first support (filling top 2 gaps). Watch to exit or price to continue to drop for Final Exit. The bottom gap may be filled quickly, as the price increase was quick. Quick gap up equals...

MoneyPatterns

Looks like MTUM is out of momentum. This contributes and confirms that SPY should be pulling back. MTUM and SPY are correlated. Daily view shows megaphone top. (or Broadening Top thepatternsite.com) Megaphone Top can breakout either direction. Given the tilt of this megaphone, I feel the price is falling backwards against momentum. Since the slope is too steep,...

MoneyPatterns

30Min view shows falling wedge pattern (which is normally bullish). This indicates price could either break down at 3095 (tip of falling wedge), OR price could rebound at 3095 to resistance at 3130. A bounce to 3130 would be another entry point to short or buy a Put in my opinion. All Daily indicators on SPY are still showing bearish reversal incoming. RSI...

MoneyPatterns

VIXY and VIX derivatives are ready to spike. RSI, MACD, Fisher Transform, and Filter Dots all show reversal coming in next 5 business days. There are 4 gaps to fill, indicating a possible 44% positive correction to around $20 for VIXY. The reversal period is short here. I believe it may last until Christmas. Going to green curved line (Gaussian Channel midline)...

MoneyPatterns

SPY - RSI at open is over 75. If we get to RSI 86, this will be same as December 2018 selloff of 20%. MACD shows exhaustion and bullish trend ending. Fisher Transform shows red dash line 3.79 level unable to be broken multiple times. Filter dots show long bullish trend cannot continue higher and close red/green lines mean downturn can happen quick. Maximum top is...

MoneyPatterns

AAPL is maxed out on multiple indicators. RSI is almost at highest recorded - 83. MACD maxed out ready to flip. Filter dots show bullish trend is exhausted and can turn down any day now. Price is almost at blue resistance line from 1997 to Present. $280 price point is almost unattainable with given circumstances, but this is highest possible price I see...

MoneyPatterns

Log chart shows AAPL has fairly predictable chart within the blue lines. Patterns within the blue show short-term repeating trends. AAPL is current at the end of pattern of short-term trend. This chart is for reference to have a longer term view. I will update a closer viewpoint. Thank you for liking, commenting, throwing up a chart, following, or viewing. I am...

MoneyPatterns

SMH is following the trend with SPY, GOOGL, and AAPL. All are topped out, 70 RSI or higher, highly correlated, and susceptible to trade news. AAPL, GOOGL, and SMH all have plenty of gaps to fill below. I do not think some of the lower ones get filled. However, most gaps do get filled eventually given time. In my opinion, we are just waiting for a catalyst for...