elephantsrevenge

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Markets Allocation
55 % stocks 45 % indices
Top Mentioned Symbols
SPX 36% | 4 LOCO 9% | 1 AA 9% | 1 CMG 9% | 1
elephantsrevenge elephantsrevenge DJY0, M,
DJY0: Dow Long-term Trendlines show potential bearish targets.
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DJY0, M
Dow Long-term Trendlines show potential bearish targets.

The Blue upsloping trendline currently at 5550 is a significant regression line for Dow. It is in play if the red line doesn't hold (13000). In a severe bear market a retest of 2650 or 2200 (lower pink line) can't be ruled out. Market's recent failure to breach the middle pink line could be reason for propulsive downward move, which could just be getting started. ...

GE: GE sharp rally to $35
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GE, M
GE sharp rally to $35

I like GE for a sharp rally to $35 here. It's been consolidating for almost 2 years. It broke the 15 year downtrend and then retested it with a hammer off the middle BB. 12 month bull case is near $50.

SPX: SPX 2600 summer 2016
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SPX, M
SPX 2600 summer 2016

If we decisively clear 2140, look for a test of 2600 around this time next year. A decisive clearance of the red line will call for a testing of the pink line with likely regression toward the orange line associated with the present bull run.

elephantsrevenge elephantsrevenge LOCO, M,
LOCO: LOCO buy point
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LOCO, M
LOCO buy point

LOCO has retested its IPO opening and likely formed a double bottom. Buy before a possible CMG rally which could serve as catalyst for break of downtrend and give momentum into LOCO earnings in August. Place stop in low to mid 18's. Potential upside is significant at this level.

CMG: CMG primed for massive rally
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CMG, M
CMG primed for massive rally

Chipotle has been basing for 1 yr and bounced hard off middle BB on monthly. Break of red downtrend line opens up run to blue LT trendline.

WMT: WMT Prepared for run to 110
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WMT, M
WMT Prepared for run to 110

Successful retest of 1999 peak prepares way for breakout run to 110.

elephantsrevenge elephantsrevenge SPX, M, Long ,
SPX: Re-test clears way for massive SPX rally
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SPX, M Long
Re-test clears way for massive SPX rally

On Tuesday July 7 SPX formed a huge hammer, the bottom of which kissed the most important trend line of the last 20 years (seen in red). Clearing this line led to a massive rally in 1998. It marked the pinnacle of the bull market in 2007. If this is a "good bye" kiss, we could witness much higher prices over an extended period of time.

SPX: SPX bull market inflection point
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SPX, M
SPX bull market inflection point

SPX looks set for a possible retest of major trend lines around 1950. Failure here likely results in the end of the bull run, regardless of any subsequent bounce. This is why the Oct '14 low was so key. The upsloping light blue lines cannot be violated to the downside, just as the the upsloping bright green lines could not be violated in the 90's bull run. A ...

SPX: SPX bull market near inflection point
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SPX, M
SPX bull market near inflection point

SPX looks set for a possible retest of major trend lines around 1950. Failure here likely results in the end of the bull run, regardless of any subsequent bounce. This is why the Oct '14 low was so key. The upsloping light blue lines cannot be violated to the downside, just as the the upsloping bright green lines could not be violated in the 90's bull run. A ...

elephantsrevenge elephantsrevenge EBAY, W, Long ,
EBAY: EBAY ready to launch from cup and handle formation
15 0 2
EBAY, W Long
EBAY ready to launch from cup and handle formation

EBAY has just retested the neckline of a cup and handle breakout and is ready to run higher. It's also very close to two trend lines. It could possibly test those trend lines in the near future, but if the neckline holds, it should move sharply higher over the next 6-8 weeks. Target $68.

elephantsrevenge elephantsrevenge AA, W, Long ,
AA: AA Cup and Handle buy point
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AA, W Long
AA Cup and Handle buy point

AA could be completing the handle of a cup and handle pattern dating back to early 2011. The weekly bollinger band chart also shows AA starting to come back inside the lower BB after weeks of heavy selling, and it has its first green week in 2 months. If the pattern holds the target is around $23 for Jan or Feb 2016. Exit the position on a weekly close below $12.70.

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