About meFormerly obsessed with indicators, pine scripting, reformed into a Chartist. I like finding patterns and predictable moves based on: parallel channels, trend lines (specifically trend lines that switch from resistance to support and vise-versa), LinRegs.
If you can manage to get it in the $143's area, looks like a buy to me. Or buy if it breaks up then re-tests from the top (2nd green rectangle).
I believe that $TLT, $VIX, and $GOLD counter equities ($SPY). Seeing the former 3 in the green and the latter in the red going into close.
Shared this in the Stocks & Indexes chat earlier today, figured I'd make an idea of it.
Painting a bunch of curves, trend lines, etc. last night and I thought, "hmm, I could definitely see a H&S forming if tomorrow (Thursday) doesn't break to a new high".
Obviously there's a lot conjecture here.
A bottom punched in Dec 5th, 2019
A lower high Jan 31st, 2020, confirmed today
Established parallel channel running diagonally up
A trajectory that would put it near highs just before next Earnings, allowing it to cool off and let ER dictate which direction is next.
Disclaimer: Not financial advice.
A breakout and squeeze as the last earnings established a trend reversal that is now breaking out of a small parallel channel.
There's some good space in the next 24 bars/35 days to earnings to reach the next level of resistance around $39-$40, about 17% upside. The current lines of support seem to say there should be about 6%...
Disclaimer: not financial advice.
The last earnings established a nice support (green rectangle) and prevented another swing to the downside of -2.0 Standard Deviations (the lowest blue line).
I think we are straddling a few nice lines that will make for a good move real soon.
The gray rectangle is where we have All Time Highs (ATHs). This has been a safe...
Disclaimer: this is not financial advice, more like me talking out loud about what I am seeing and planning to do.
Short-term pullback with some ranging action on the SP500.
What predominantly fuels my idea is using Linear Regression and Standard Deviation. As many would know, both...