VIX in a massive wedge, SPX nearing ATH.
Regardless of fundamentals or narratives, something big is bound to happen.
VIX + DXY are nearing the breaking point of both their wedges.
Something tells me this breaks to the upside.
Market topping out, oil looks prime for a break out. See $USOIL idea below. Only question is how high can this rally go if the DXY breaks out of its wedge and rips higher?
If the energy sector takes off, that could give the green light for other equities to continue rallying, while equities go down. That would imply a stronger-than-recent USD and higher priced...
DAG broke out of what appears to be a close-to yearlong wedge. It retested the breakout and is continuing its uptrend vs bitcoin.
This is the perfect time for it to breakout considering the bitcoin weakness. RSI looks good, volume stepped in on the retest. This looks like a no brainer.
LTO broke down of its wedge, retested its previous horizontal breakout, and now breaking out of downtrend.
Chart looks bullish, but the RSI is still looking a little weak. I think this has one more retest in its near future but from there, the sky is the limit.
PNT forming what looks like a triangle.
Retested the various horizontals and rebounded instantly with volume spikes.
The range is getting tight and this project has the fundamentals, crypto narrative and the timing going in its favor.
This one one should take off shortly.
Twitter's price action calls for some continuation, the volume profile and general trend tells me it is going to retest the top diagonal before continuing.
Twitter delving into the political realm with controlling misinformation makes it a little riskier than the other social medias (e.g. facebook, snap) , but overall R/R is much better due to it's recent price...
Forming a triangle with good price action.
RSI looking a bit weak and so does the volume profile - Normally, that would be a red flag to stay away, but with the currently bullish momentum in the crypto market and the level of hype around this project tells me I'm wrong. At the very least, i expect it to test the lower bound of the triangle, potentially, even...
Going off the commentary from the DXY - This is ES divided by the DXY to provide a 24/7 picture of S&P futures and DXY.
Hypothetically, this chart should help dictate when the value of the market is increasing relative to the USD.
The derivative should indicate when the market starts slowing down and eventually turns.
In hindsight, the market was mostly flat,...
The DXY is forming a downward wedge. I expect once this breakout, it will mark the market top, notice the divergence between the SPX and DXY. Those jaws will close.
When you look outside the US the dollar is scarce. With the decrease in imports, the US is unable to export inflation.
The difference between the fed's printing power and the rest of the world's?...
LEND showing a lot of strength after the recent dump.
It looks ready to continue, will probably race through the horizontals, retest and take off.
In the process, it has the chance of forming and inverse head and shoulders, which would take it to new highs.
Considering what AMD pulled last week. I would expect MU to show some strength. The RSI has been in an uptrend, and the stock has been respecting the trend.
Fundamentally, MU has a strong buy rating currently, which could add to its bullish case further.