Whether you are short or long, this is a great place to enter a trade as SPY retests a major trendline break on the weekly chart. The long term trend still favors the bulls, however the virus catalyst favors the bears. Place your bets on whether the price will stay above or below this line. Based on my experience, trend lines are extremely influential on long...
Cepheid created a diagnostic test that could detect the novel coronavirus in approximately 45 minutes. This test was just approved by the FDA today. Also, Cepheid was just bought out by Danaher (DHR). This is why I'm doing an analysis for Danaher. Looking at the DHR stock, we see that it just reached the top of the gap that appeared in February 2019. If it goes...
SPY looks like it may have bottomed after reaching the December 2018 low and major trend line support. If investing long term, this might be a good area to start accumulating. Obviously with the news as bad as it is, it's hard to imagine this being the bottom, but bottoms are rarely formed on good news. Please see my related idea below for where I called the top...
Approaching 30w MA and expanding triangle upper trend line support.
This is a quick analysis and related to an idea I posted recently on the SPX. On the monthly chart, you can see that the SPY is currently at very strong overhead trend line resistance that goes back to 2012. Something to take into consideration when planning your trades. This is a POSSIBLE top, but the SPY could easily ride this trend line upwards as it has done...
This resistance is about as strong as it can get. It's an overhead trendline that goes back to April 2012 and shows up the best on the monthly and weekly charts. I'd imagine institutions are looking at this in terms of probability. I think it's reasonable to believe that this trendline will suppress the rate of growth going forward, but as we've seen in the past,...
Natural gas' price action is best contained within a downward channel on the weekly time frame. There are two possible bottom scenarios. 1st Bottom: Within the downward channel the price is currently within a falling wedge. This is the third touch to the bottom of the wedge which in many cases means the price is likely to go up from here. If the price happens to...
The goal of this analysis is to keep an open mind about Bitcoin on what could possibly happen in the coming months. Bitcoin appears to have broken out of a bull pennant to the upside. If Bitcoin is able to clear the 30w moving average, I think it's possible we could see $19k lead by the fomo for the halvening which is to take place on May 12, 2020. Litecoin...
Bitcoin is currently in a corrective phase in the form of a bull pennant. With a bull pennant, you can measure from the bottom of the pole to the top of the pole to estimate a target. If Bitcoin happens to breakout this month, the target would become approximately $19,000. As long as Bitcoin stays above the yellow dashed trend line, the long term trend is...
With Apple hitting new high after new high, it's easy to believe that it's overbought and due for a correction. After all, a trillion+ market cap and rally that never seems to end is certainly too good to be true. Maybe it's a scam or due to abnormal fed / Trump market manipulation? If you look at the actual trend, you'll see that the last 4 times Apple bounced...
From the 50% retracement of the S&P, we're able to project the target of 3,250 - 3,500 for SPX (325 - 350 for SPY). Before this happens, I think it's possible, although not likely, that the S&P reverses to 2,640 level before going up and forming an inverted head and shoulders. Note: I'm not a bull or bear nor did I factor fundamentals into my analysis (nor did I...
The SPY has reached the top of an expanding triangle that goes back to January 2018. As you can see, the SPY has been marginally making new highs before turning back down. We are also reaching the end of the Q3 2019 earning season and AAPL and FB just reported their earnings which appear to be positive. Coincidentally, the SPY hit the top part of the expanding...
It seems as though institutions are trading Bitcoin fairly heavily as they are leaving their mark. Institutions love the .618 fib as a target. They usually use this number to buy into immense selling or buying pressure. As you can see, that is exactly where Bitcoin has been reversing. The purple fib is drawn between the 20k top and 3k bottom. If you move 61.8%...
I was able to predict the bottom of Apple accurately (See my related idea below), now lets see if I can predict the top. Apple is currently right beneath a weekly trendline that has been resistance since 2012. It is also at the 1.618 fib which is a common spot institutions choose to take profit and/or short. The stoch hasn't crossed over yet, but it is certainly...
Bulls who were looking for the ideal entry can breathe a sigh of relief today after Bitcoin found support at the 200 day moving average AND 1.23 fib. After the breakdown at $20k in 2017, Bitcoin found support at the 200 day moving average which was located coincidentally around $8,300 at the time and then rallied to $11,000 before it broke down again. I'll...
Simple chart showing the federal funds rates since 1955. As you can see the rate is currently in a falling wedge pattern which should eventually break to the upside. However given the conditions of the global economy, for now, we may very well be at the peak at the top of the channel with a downward move pending. If this happens to be the peak and feds continue...
I'm creating this chart to share a hypothesis on how far I think Bitcoin can go before the next major correction. The monthly price action is best contained within a rising wedge on a logarithmic chart. As we can see, Bitcoin took 638 days to go from the top (November 2013) to the bottom (August 2015) of this channel and then 853 days to go from the bottom...
As you can see, a head and shoulder pattern has formed on the Crypto Total Market Cap that excludes Bitcoin. I'm posting this idea because this is a great place, whether long or short, to trade in terms of risk to reward. Reasons to short: The price is currently right below the 30 week moving average AND below the neckline of a large head and shoulders pattern....