Here is a Costco trade (short or position flatten), I am looking at.
We have an intersection of 2 harmonic sell patterns. (A Gartley and a Shark)
(Note: I would feel more certain/comfortable of these patterns, if point X originated off the August 2022 high.)
I have marked my most probable reversal area ($531-$534) and a stop above this level.
An update of my October 14th note.
Two Harmonic patterns still remain in force after recent challenges. (ABCD and Crab)
Possible triple bottom in place around the $1620 area.
We have effectively reached the first ABCD target.
An arc has been added to give context and show support levels
I should expect some retreat from Fridays $50+ rise, $1670 remains...
I thought it might be useful be provide my elliptical analysis of the NAS100 for some direction and comment.
My ellipse has modelled this quite well with several good touch points. (green dots)
Additionally I have added a Fibonacci Fan using the blue dots as the range points and providing an extension in the future.
(TradingView has yet to provide Fibonacci...
Harmonically at least, Gold appears to be operating under two crab harmonic patterns.
The longer pattern, in place since the peak on March 8th 2022, has hit its target 1.
The shorter Deep Crab Pattern has hit targets 1 and 2.
In the short term, it would not be unreasonable for Gold to retreat back to the late September low.
A solid bottom here should trigger a...
A suggestion for those looking to establish a long INTC position.
1) Intel has traced out a bullish Butterfly pattern going back to November of 2020.
2) Price action has taken it to a Pitchfork bottom.
3) Within this is a Bullish Black Swan Harmonic.
4) My momentum indicator suggests near price exhaustion to the down side
No guarantees of success but I am...
I have never has any interest in Bitcoin nor its derivatives. I like the technology but believe we are still in its early days.
That is not to say however I don't follow it.
One equity way to position a Bitcoin view is with GreyScale Bitcoin Trust.
So currently on a weekly basis there there are two current bullish harmonic Patterns in play ... A...
Aurora Cannabis (ACB) has managed to give up 99% of its value since its October 2018 high.
Certainly this is wealth destruction at its finest.
I can find no technical reason to jump in here other than its at the bottom of a channel (pitchfork) and has a gap that needs to be eventually filled.
(This is a TSX chart as they are open today).
For many this...
There may be hope for you NVDA hodler's.
Nvidia's Share price appears to have held the bottom of the channel after a 54% decline from its peak.
While NVDA has bounced (apparent triple bottom), we need a strong tailwind (counter-trend) to propel it through the suggested entry point. (Top of rose colored supply zone)
Targets and a stop are marked.
Short term trade suggestion on Shopify (SHOP) on the TSX Exchange.
Confluence of a Harmonic pattern and a Pitchfork (secondary bounce off of the outer channel.)
Nasdaq showing signs of a short term bottom. This is key !
$410 -$414 would be my preferred entry level on a point D retest.
Don't be greedy. Use a tight stop.
Do your own due diligence and respect...
For Gold to aspire to the heights that its evangelists have been spouting on YouTube and various forums, I would argue we need a $USD breakdown .
(I often think the only monetary gains these people are making from their advice are click revenues.)
One reasonable way of portraying Gold's future is illustrated by the Gold/DXY ratio.
$USD's recent strength...
The SPY ETF has traded within a well defined channel since the beginning of 2022.
Within this major down draft, a more acute channel has been in evidence for the past 2 months. (shaded rose)
Looking at this from a harmonic perspective and bearing in mind that this is a 2 hour window, I see evidence that a cypher pattern is developing with may provide a...
With today's US CPI numbers out of the way and a modest degree of stabilization in equity markets, Gold appears to have made a short term bottom.
This is the third touch of a six month trendline.
We add to this a bullish harmonic Gartley pattern which appears to have formed. (This includes a solid AB=CD subset.)
We need IMHO another ingredient. A weaker $USD ...
In my opinion DXY Index appears to be at an inflection point.
It's not hard to account for the USD's recent strength given the significant rise in US Treasury yields over the past 5 months relative to other investing jurisdictions as well as surging commodity prices which more often than not require USD payment.
Interest rates differentials do matter, attract...
Netflix (NFLX) ...Will this Horror Show ever end ?
Netflix has been one of the bigger casualties of the NASDAQ selloff managing to lose over 74% of its value since early November 2021.
Taking a 10,000 foot view and reviewing a monthly log chart(insert) suggests a well defined channel going back to NFLX's debut in May 2002.
The bottom of this channel now rests...
Unless you have been living under a rock for the past 2+ years you may have noticed the interest you pay to borrow anything has increased significantly.
Using 10 year US Government bonds as our proxy, these yields have risen about 8 fold during this period.
How and why is a topic for another day. My point here is Have have we gone too far too fast and is there...
Here's something for you punters and long haulers.
From TV: ..... ReNeuron Group Plc engages in the development of novel cell based therapies that target significant areas of unmet medical need. It develops its core stem cell assets such as CTX neural cell line and human retinal progenitor cells. The company was founded by John David Sinden in 1997 and is...
Iron Mountain (IRM) has had a 35% run in 35 days.
I have indicated a Wolfe Wave formation which projects a $48 target in early May.
Overlay this with a Harmonic Crab Pattern which is the basis of forming.
(For purists this developing Crab pattern may not meet their more exacting criteria.)
Additionally the indicator in the bottom panel suggests a forming top...