Falls over last 36 hours look kind of scary but put in context of the run up totally normal. I am not a crypto permabull or apostle and view this as just another vehicle to express a view on macro themes. Pullback to $42k could provide an interesting area of support for possible next leg higher.
bear flag about to break down? targets much lower (again)
Things are aligning I believe for a decent short/med term top in stonks. Short DJIA 27250 stop 28000 target initially 25000 (with outside chance of perhaps 23000) in coming weeks/months.
Similar to AAPL, the next new high in the next day or two above 217 in MSFT should result in at least a short/med term TOP Look to sell above 218 stop 230 target 185-190 zone.
I am calling a top in AAPL on the NEXT high above 446.5 (currently 445). I am a seller above 447 stop at 467 looking for a return to 360 (yes 360) and will likely have to adjust at end August once the stock splits 1-4
Copper reached my long held target below 2.22 and now waiting for signs of a bottom/reversal for longer term rebound (green wave C) Confluence of supports at 2.20 zone, channel, c/y=a/w and where wave e (blue) of bigger triangle wave B (green) is 78% Fib retrace of length of wave d (blue) of triangle. Not confirmed until get a reversal and wave e still has scope...
Have had a big bounce in June crude futures - time to reshort imo Short 20.90 stop 29.00 target sub 10....
Looks to me like Eurostoxx vol measure has topped this week so good provide some relief for European stock indices
Having been a bear for quite a while I now see value beginning to emerge in Us stocks despite all the negative virus headlines about to hit Entering 50%-60% retracement zone of the 2009 bull market Extreme readings on sentiment/RSI etc
The bar chart is the US10yr yield minus the US 3month yield. Over the last 30 years the spread has ranged regularly between roughly +375bps and negative 75bps. After hitting extremes it usually heads back very quickly in the opposite direction. Note the turning points from the lows (red lines). It looks to me like we are about to re-steepen sharply. The orange...
I keep getting drawn back to this incredible chart of BOEING #BA since the post financial crisis lows of 2009. It has gone from $30 to $430 !! It is also a picture perfect Elliott Wave count (internally wave 3 = two times wave 1 and wave 5 = wave 1). Blow off wave 5 from the Xmas lows (up 48% in just 2 months!) Sensing a market top is IMMINENT.....and if BA goes...
Silver getting battered in the dash for cash Lowest levels since 2009
Spanish stock market IBEX 35. CRITICAL 6000 support. Another 10% lower and it will be at 23 year lows! The TECHNICIAN term is "head and shoulders".....going to ZERO. The TECHNICAL term is "screwed". Need a miracle.
There are 3 types of price gaps in markets and all 3 are visible on the TSLA chart. Today is likely the final exhaustion gap and the stock price could return to 600 very quickly.
Despite being ultimately bearish very long term (several years) my med term view is currently looking for the scenario where we see a low in coming days weeks around the 2600 zone give or take a bit (this will be circa -25% from the highs) for a substantial rebound in an ongoing bigger picture wave 4) triangle pattern that could last through the end of 2020...
GDX Looks like need a bit more downside to maybe 23.50 area (c=a in a wave 2 of C) Before we can base and go higher in a 3rd wave of C
RUT is coming into potential buy zone Support at 1260 (Dec 2018 low) and 1240 (wave c/y equal to wave a/w) RSI at 25 oversold territory