All in the video, we're at a strong resistance point and it's possible the B wave is sideways from here. AAPL just stopped at it's 50 and 100 weekly ma + daily 18. Caution is warrented for longs unless we get over 4020s Good luck!
ALL in the video, SP 3900 level may come first but I expect a substantial bounce either Monday or after a flush to 3900. Gold and silver at support but I'm concerned if it keeps following the stock market. The US dollar could go slightly higher before a move down to 100.
All in the video, I do expect a bounce soon for about a week or so. 4k-3950 could happen by tomorrow....
Silver is losing to gold as it has been for months, but we're getting close to the gold/silver ratio of 98-100 area. At that point this chart should reverse which likely means - Gold starts getting a bid and Silver starts to outperform Gold. So yeah this ongoing dip might be the one to buy for long term, but keep in mind this can go on for a few more months.
Looks like it as of now as they have lost the 18 daily ma. Bias is down. Strong support at 4k, but at that point any bounce would likely be sold into quickly. If they test the 18ma tomorrow it's an ideal shorting opportunity. Remember there is a long weekend ahead as well - another wild card. Good luck!
Up to the major trendline and 18 monthly MA, for me it's a short unless it can clear both this month. Target 145
Didn't get what I wanted to see today, that's trading for you. The possibility that we keep grinding higher for a week or more is certainly viable after today. Above we have the following - daily BB at 4190, Weekly BB at 4180, 100 weekly ma at 4215 and Monthly 18/20 at 4190 and 4210 respectfully. Some stocks like Tesla and AAPL seem to want to go higher after...
More and more I'm thinking we may have sideways motion in the form a of a triangle on SPX. Weekly BBs are starting to show sideways action and lower weekly BB and MAs (200 weekly, 50 monthly) are all pointing to support around 3650-3600. This analysis is wrong if they can get over the August 22 high of 4325, which to me is doubtful. It's possible they ramp this...
Nat Gas, the widow maker - is at the 100 month ma (green line), which was a resistance level during it's consolidation and should be a support here. How much of a bounce it can get is hard to say but my guess is at least to 6 dollars sometime this year. This is a monthly chart.
All in the video, I do think today is proof that we've topped. I lay out the case for why I think so and also why I think 3650-3600 will be the bottom of the sell off. Good luck!
All in the video - it's very possible the top was in fact, last week. Watch the high from yesterday on SPX or ES, if we get over it we likely go to 4200 + but if we don't, there's a good chance we keep falling to 4k. The market is quiet and complacent at the moment but that could change today with the Fed speakers and Jobs data tomorrow. Good luck!
Powell speaking today will be a wild card for the markets - a sort of mini fomc. I still expect a sell off to the daily 18ma at 4060 this week, but if we are going to have a final rally it should be from there (green path). If they sell hard under the 18 ma, it may act as resistance on any bounce (red path). One more up would give us regular bearish divergence...
Looking for capitulation around 420 or more for the final 5th wave of C. Now that all the Powell traps are done, a final wave to the channel high (and slightly above) should finish this rally. No doubt bears are going to start throwing in the towel around here - 5th wave of C can be intense and painful if you are against it. I prefer to collect shorts above...
IN the video I talk about the 18 monthly MA on both ES and AAPL and how important they are for bears to hold (or bulls to overcome). OIL is at a critical weekly level regarding it's long term trendline, Nat Gas is showing signs of life but may go back into a coma, AAPL stopped at a critical level Friday Bias is still up, but if we keep selling, the 18 daily MA at...
Technical review of the stock market after the FOMC rate hike and Jerome Powell speech. All in the video - I'm tired and will update tomorrow.
The median line of the uptrend pitchfork has been reached. I don't mean to call it a "top" but it is certainly an area to consider taking some profits. Daily RSI hasn't been this high since Nov 2021. Good luck!
AAPL may be ready to drop into an expended wave 3 or 5, depending on what happens with the markets tomorrow. As far as I can tell, either wave 4 or wave 2 of 3 (of 3) was finished this morning - I've market the latter. Regardless of Elliot Wave Theory or Fibonacci, if they enter the gap under 140 and fail to recover, a major price support will have been broken....
As you can see on this ratio chart, we had a breakout and backtest with weekly bull divergence, which likely means AAPL will gain less value - or lose more value to SPY in the coming weeks. Since I expect the market to fall from this area, I also expect AAPL to outperform to the downside for a while. Earnings could pump it first - and if so, I think AAPL would be...