whiteknightmoving

Here is the closer view of the slowing momentum of the market. We are patiently waiting for the break of the lower black channel... we're getting close! Looks like we're in the 5th of the 5th of C of B up since Dec 24 low

Since the bull market started in 2009, the Red Line Channel has held as support. However in Dec 2018 the lower support channel was broken! Support obviously failed with the huge Dec sell off. Since the Christmas 2018 lows, the market has moved up strongly. Now, Many traders have become extremely bullish. Eyes on 3000+ SPX now. Blogs and tweets, and professional...

Old Fart Plan for the next few days. I will sell my puts at The target of 266.6. This is the Deep crab target zone. Also it would let the price action retest the old resistance line from the Oct-Dec highs in a "throwback" pattern. If the bear is starting again, then a bounce to the sell zone should be next. I'll buy some calls for this move up and then once in the...

Today was an impressive break of the down slope channel since December. Bears finally came out and "tasted" the picnic baskets today. The VXXB lows held nicely after the 2nd chance to buy the lows, as previously talked about, were again hit yesterday. We saw an impressive move up in VXXB today. (market dropped) The potential for a small Bat pattern (grey) could...

Long Term play is a Gartley Pattern for the next year or so. The point B hit the .618 area in December, indicating we should now see a long corrective grind up to B (pink/yellow) label. Then continue lower in the long term time frame. But at this time we are looking for a nice retracement up. This should be a choppy upwards retracement of the huge sell off from...

Yesterday the VXXB took off to the upside, but we were careful to look for the 2 nd chance Buy Zone targets as shown. The timing took longer than drawn yesterday, but the price3 hit the buy zone nicely. If the Bears are to take control, it is important for the lows to hold near the Buy Zone. A break below the (black) dashed line voids the pattern count. If the...

Here's an updated chart of VXXB. As you know , this typically is a contrarian indicator to the market. As the market has been rising since late December, this VXXB has been going down. Now we may be at a point where the VXXB is bottoming. We would like to see a hammer or a doji candlestick today to help mark the turn. Let's see if we get this today or not....

Did the fighter Jets do their job? We have been looking for a high point for this rally since Dec lows to turn down. Was this area of throw over the high? I am bearish the market with lots of puts on SPY. I am obviously bearish ! Completion of Harmonic patterns last week on Friday. Now let's see if this SPY chart shows a turn soon or not.

For the past 2 weeks we've been looking for the throw over and break of the parabolic curve. Was today the day? We got a nice throw over and the Snap! of the pink parabolic curve! Today may have been the 1st clue that this stock has rallied to fast and needs a bit of a retracement. I would really like the price to break the blue channel support line as shown and...

Here is the chart 2 of why the median line is so important. It has been active for about the past 100 years! Also please note the interesting statistics of the Social Entitlement Programs that will become to much to bear for the US economy. When Social security first started, the contribution rate was only 1%! + the employer 1% = a measly 2% into the Ponzi...

1st chart of 2. Please look at the next chart to reveal where this midline comes from

The rally from Dec lows looks to be about finished now. The large purple CYPHER pattern and the blue DEEP CRAB pattern have been completed this morning. at the 271 zone. If the market has one more bump up in it (Monday?) I will expect the fighter jets (red) to shoot down this market. The easy flying "Blue bird" jet (upward rally) is not paying attention to what is...

Cron looks to have completed its 5th of 5 of wave 3.1 up. Now in the sell zone. It now looks due for a pullback. It actually hit the high side of the black channel, as well as rsi on the hourly chart is no lagging the upward price moves. I bought puts yesterday, but it looks a bit early. :( I am looking for a nice retracement with either the Gartley or the Bat...

This is a possible Shark pattern (pink). The ratios line up well as indicated. These Bullish Shark Patterns create a "false" break down by dropping about 12.8% below the previous low as shown (the jaw). Most traders take positions after seeing that snap, but the Shark will take a nasty "bite" out of them! It would bite the lows and then the price should reverse...

Getting near the upper limits of this move up in wave 3.1 of what should be a nice extended 3rd wave someday. But for now we may be seeing the highs for the first subwave called wave 3.1. IF this is the high, then we can begin to look for harmonic retracement patterns such as Gartley and Bat. This would give us a great 3rd chance (for those that don't have this...

Today we see the Peek-A-Boo of Spy looking over the resistance line as shown. This is a perfect spot for the market to turn soon. In the measurement of the "Freaky 4th wave we look for a retracement of the 3rd wave of 66.6% -81.25%. We are getting close to the upper limit of the 81.25% (271-272 zone) If this reverses in the area circled in yellow, it could be a...

Well that didn't take long! Yesterday I put up a chart looking for the trend in VXXB to continue up in the green channel. The "line in the sand" known as the reaction line (drawn in red) was broke this morning. Meaning that the markets still have some bullish potential. We should see a retracement back up to the green Buy Line. However that is a selling area for...

This morning PYPL dropped to the target zone we talked about last week perfectly! The previous chart has been left with our expectations from last week. This way we can see the time is the elusive factor. This price action happened faster than we thought as shown by the waves 3 and 4 (black lines). Harmonics helps with price targets, but not time. The (50) March...