zkstonks

zkstonks

Preemptive note: This is non partisan analysis. Please do not waste my time (or yours) by saying anything about the polls not being accurate. That's self-indulging conspiracy theories that have no basis in any fact. Now onto the reasonings. 1) Price currently sitting at the .618 fib retrace. You can see this clearly on the chart. This is a level to look for a...

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Oil is at a steep ascending trend line in a rising wedge. Watch for a breakdown of this level. Supports below include $45.5 with the .236 fib level, $42.00 at the .382 fib, $40.00 because it is a round number, and the 50% retrace at approximately $39.00. Note this is purely technical and the fundamentals of oil do not suggest oil can or will remain below $40 per...

zkstonks

Oil is at the bottom of a long down trend .As you can see on the chart, it is near the neckline. If oil does break the neckline, based purely on technicals it should get to 200 sma, around $70, or even to the descending white line that it rejected in 2013 and 2014 before the massive drop that we have seen in the last two years. This puts PT 1 at approximately...

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In light of the beastly last two NFPs and increasing inflation, I would like the think the Fed will raise rates in September... they probably won't, but that is not the point. XLF has broken out of the nearly year long triangle quite clearly. It is a long. Near term resistance is at 25, however that should be taken out. Tl;dr: Long XLF

zkstonks Updated 

EURJPY is in a lovely channel, and it bounced off the bottom of the channel and formed a bullish divergence in RSI. Long

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SPY is about 40 cents from hitting the blue descending resistance it has rejected cleanly four different times. There are about four SPX500 points up to go as well. When SPY hits, and then rejects, said blue resistance, please pour a drink out for SPY, because it's not gonna be bullish for a long time.

zkstonks

Rising wedges are bearish. This one breaks on the 8th. I'm expecting a down turn unless there is some absurd fundamental change coming in supply and demand

zkstonks Updated 

Blue line is the neckline. Top. Short

zkstonks

The index rejected the cloud top, the .5 fib, and the continued H&S neckline on Friday. The candle that formed was an inverse hammer. Be careful, this may be a bear trap. But, if it is not a trap, then this has to be a short.

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EEM is about to retest the neckline of the head and shoulders that it broke down from at approximately $31 a share. If you look at the mix of countries that make up this ETF, rising oil prices generally will not cause a price increase. The only worry is if the USD rolls over, as EEM and USDollar are inversely correlated. Anyways, short here (or at 31 if you're...

zkstonks

I first want to note that this is a speculative idea, I may be seeing what I want to see instead of what is actually on the chart. But, with that said, there appears to similarities between the 2008 chart and the current chart. Additionally, if you hover over the blue ovals - for lack of a better word - on the chart, they should provide some context. Both periods...

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Apple is in a falling wedge (trust me, the lines aren't random and work on multiple time frames), but for the last two days there's been a rising wedge. While there may be a decent rise in the future if/when AAPL breaks up out of the falling wedge, it may reject the wedge and bounce down to 105 in the next two days. It will be important to wait and see if AAPL is...

zkstonks Updated 

Despite the huge drop last week, SPY looks poised for a bounce, barring any Fed shenanigans. While there is considerable downside if the current white channel support doesn't hold, I expect a bounce up to fill the gap from Friday, and potentially up to the white downtrend channel median in the beginning of the upcoming week.

zkstonks Updated 

We've seen SPY reject the blue line three prior times on the monthly chart. Though the reject already happened on the weekly chart in early November. But, now, if S{Y closes below 208.50 on Monday, then the monthly candle is a doji. I'm more than willing to short it to hell (also known as 199 if 206 breaks). Note I'm not telling you what to do, but I intend to...

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SPY has been in a steep downtrend since it's November 3rd top. This downtrend is within a similarly step uptrend, that is within a slight downtrend originating in late May. While SPY has a gap to fill at 207.63, It has to get above the 200 day moving average, which will be at approximately 206.5 on November 17th. If SPY rejects these levels, it will also be...

zkstonks Updated 

SPY may be overbought right now, but that is not the purpose of this chart. The bold light blue line was drawn back in early August, and I have not touched it since. Each time the price rejected this line a moderate fall happened immediately. On November 3rd SPY rejected this line again, so it should fall. My targets are the 200 day MA, and potentially filling...

zkstonks Updated 

SGYP has been in a downwards channel for nearly three months. The price made a potential move to break out, but rejected off the 200 hour MA. On this MA rejection and failure to breakout of the bearish channel a bearish divergence formed on both MACD and RSI. Price targets are listed on the chart. Waiting for a resistance confirmation to enter the short position.

zkstonks Updated 

Oil viciously rejected its 200 day moving average last Friday. The currently slight upwards trend is at the angle of a theoretical bear flag. If oil breaks downside as I expect, it should find support around $44 a barrel at the old trend line.