Gaps in price action are more often than not filled by later price action as demonstrated by the past gaps pointed to by the green arrows. Two gaps remain to be filled, they are pointed to by the red arrows. The filling of the more recent gap seems inevitable after the hard-fought rejection by the underside of the rising wedge. The older unfilled gap is less of...
A cup and handle pattern appears on this chart which suggests an upside breakout will occur in the near future. Best case: Breakout from here 2nd best case: Handle gets a little bit longer then breaks out Bad case: Handle gets a lot longer to the point where the cup and handle pattern no longer looks like a cup and handle, suggesting an upside breakout may not...
A head and shoulders pattern, moving average crossover, and RSI failure swing near the trendline of an established intermediate-term downtrend channel suggest Twitter shares should be sold in the days to come, not purchased. The near-term uptrend has been closed below along with the 200-day simple moving average. I have July 25th $30 strike puts. I'm...
You are buying a megaphone top. Megaphones tops are bearish reversal price patterns that occur at bull market peaks. Also, the monthly RSI signal hasn't looked like this since the previous market crashes of 01 and 08. Thank you for your time.
A sine wave is used to approximate an anticipated normal distribution of the total confirmed US cases. According to this forecast, the cases will peak around May 5th and the virus will be contained around June 24th. ATR 1 is used as a derivative of total cases and shows that growth has peaked and is now decreasing. Growth was also forecasted using a sine wave...
I placed a swing trade today based on a hunch that my gym is going to suffer membership decline on a scale which has yet to be priced in. When RSI, ADX, MACD, and my other favorite oscillators failed to confirm my bias on the daily chart after the fact, good old Stochastic came through with a clean overbought crossover sell signal. It also happens that the...
The series of FIbonacci Time Zones lining up with previous troughs suggests getting out of any long positions before Friday April 17th. This date coincides with the next and final event in the series. There is also a rising wedge which strongly suggests there is not much upside left, if any, in this rally.
After the selloff began, the price retraced 50% of it's losses before moving down further to the recent low. We've now retraced almost 50% again. I'm wondering if we can hit the 50% retracement and continue downward like we did previously or if we've gotten as close to 50% as we're going to already and are now going to head down from here. The 20 day EMA and 10...
I sometimes feel the big dogs send messages through chart patterns, I wonder if this is one of those times.
The GLD price action during this recent market crisis appears very similar to 2008. If gold prices move the same way they did in 2008, we'll see a drop from here followed by a strong rally.
The market may bounce out of the current ascending triangle formation up to 2700 which is a previous support/resistance level upon announcements of monetary and fiscal stimulus plans. I'm 40 percent confident this will happen, just throwing a number at it based on gut feel, not using statistics or anything. Minor Elliott wave "A" should be complete around 2000...
No, I am not serious, but you never know, a lot of jobs have been shipped over seas since the 90s. Perhaps the line labeled "support" represents the real support of the market and the price action above it is all bubbles of debt and speculation.
I firmly believe this is headed lower in the days and weeks ahead. In trying to determine the next major level of support, I've found it to be where the green triangle is, around $210.00.
If the market reaches new lows this month, the next fib retracement level is 1.618 which is $250. This level coincides with the long-term trendline going back to 2009. The green rectangle shows the area of resistance.
The RSI seems to trend down with the price which bounces off of a well-established trendline once the RSI down trendlines are broken. I think if the RSI breaks the lower RSI channel line, the price will go down, if it breaks the upper downtrend line, the price will go up.
A possible bearish flag may be nearing completion. This was constructed using visual analysis and trendlines.
Intersection of trend and channel lines coincide with February earnings report. Maybe this will happen. Not placing any bets.
Double Top reversal with volume-confirmed intermediate-term downtrend with minor upward fluctuation approaching support. Reversal point expected in coming days. Historical corrective downslope used to anticipate minimum downward trajectory of intermediate trend.