Skipper86

Skipper86

Textbook ascending triangle breakout. I took a look at net income as a sanity check, projected to be record setting. Swing trade, could drop back down to triangle top for retest, set stop below that. Price target is the height of the triangle above the triangle, hence a copy of the triangle being used as a reference. Set target below that to avoid...

Skipper86

The best cure for a high corn price is a high corn price because producers will plant more corn next season to take advantage of the current high price and inadvertently drive up the supply which will in turn drive down the future price. Assuming supply through March is scarce and by December it will be relatively plentiful, it makes sense to go long the March...

Skipper86

when SPY reaches 420. Just follow the current trend channel to April 20th and the intersection is at SPY 420 which is also the 2.618 Fib extension level from the previous correction. Are SPY puts dead? No. Terminated.

Skipper86

The 200 day MA is curling up as fewer and fewer price data points are below it as the Covid crash gets put further behind us with the passage of time. Over extension was a concern in 2020 but with the moving average curling up to a slope greater than price is rising and with over extension leveling off, it is no longer an immediate concern.

Skipper86

Based on recent history, the green arrow is the desirable, most likely scenario and the red arrow is the undesirable, but possible scenario. Please feel free to ask questions.

Skipper86

Also shown are support and resistance levels and lines. Please feel free to ask any questions.

Skipper86

Conclusion: We're a ways away from 2.35% 10Y yields which are the level to watch out for. Any questions, feel free to ask, most of the analysis is explained on the chart.

Skipper86

With the 10-Year yield exceeding 1%, it's worth looking into the relationship between it and the S&P 500 in order to anticipate how the stock market may be affected. Treasuries are in a long-term downtrend and are near the middle of the trend channel. There was a MACD signal crossover (not shown here) at a level which, looking back at MACD history, suggests...

Skipper86

Using the zig zag indicator to try and eliminate bias, this is a basic post-Covid crash Elliott wave forecast. I show wave 3 ending now because I had no better place to show it, but I think it will likely end sometime between now and $395. I'm anticipating reaching $395 some time in February based on that being the next significant level of Fib extension and...

Skipper86

Watch MACD for a crossover and RSI for a breakout. A MACD crossover would be very bullish and an RSI breakout into oversold would be bullish but also indicate that a correction is likely coming due in Q1. A failure of the MACD to crossover and RSI failure to breakout of the channel would suggest some possible sluggishness, a slight decline until RSI bounces off...

Skipper86

Copying the price action that followed the 2019 setup into 2020 suggests a $395 price target and a February crash. This is all very hypothetical. This prediction supports my $395 price target which was predicted using Fibonacci extension and another pattern repetition idea which looked at the repetition of the "W" pattern in 2020. The moving averages used for...

Skipper86

This chart shows the Fibonacci retracement and extension levels from the 2008 crash until now and points out times when they acted as support and resistance. The next resistance level is $395. Due to my expectation that the market will continue to rally due to a number of factors, $395 is my price target. This is in line with my most recent analysis which...

Skipper86

As indicated on the MACD, the MACD line has crossed over the signal line which is a "buy" signal. The MACD value is positive which corresponds to the 12ema being above the 26 ema and is considered bullish. The signal line "buy" signal happening in this bullish moving average crossover territory justifies the signal line crossover being interpreted as a "strong...

Skipper86

If the W leads to a 10.92% gain again and at the same trajectory as the previous W, this is the target.

Skipper86

This chart analysis uses position equation terms from physics to show how covid total cases should be decelerating by the end of next week (December 4th) according to the linear trend of the acceleration chart which is approaching zero and should continue into the negative.

Skipper86

There is a cup and handle on the weekly along with growing revenue and earnings. Might be a little late to the party, but at least there is confirmation now.

Skipper86

Watch for ascending triangle failure or completion. I'm bullish for the long term (retirement in 2045) either way and looking for buying opportunities.

Skipper86

The momentum of the momentum indicator has turned positive suggesting a likelihood of upward movement (on average) over at least the next couple weeks. I'm looking at momentum of momentum because it appears to be calling tops and bottoms more reliably than the momentum indicator itself during this time of volatility and sideways movement. Momentum is shown for...