3 out of the last 4 times price has reached the 13% envelope of the 200-hr simple moving average on the hourly there have been significant pullbacks ranging from -.5 to -1.618 retracements. 1 out of the 4 times the price reached the 21% envelope (purple). The absolute dollar amount relative to the 200-hr average is shown by the indicator at the bottom. It...
This chart demonstrates that the angle of the current uptrend is the same as the angle of a previous major rally. The uptrend lines are parallel. It also shows that price has broken out of a downtrend and above all relevant (in my opinion) horizontal resistance.
The daily chart showing closing prices reveals a pattern of ascending lows and a resistance level of 5.900 which has developed over the past 8 days. The volatility, especially during after-hours trading, makes discerning a meaningful pattern out of the candles difficult, so an orange line tracing the closing prices was added for closing price analysis. The...
The net positions of non-commercial traders generally move in the direction of the price action, as is shown by the red and green arrows. What happened recently is that the shorts were wrong about direction but then doubled down and went more net short expecting price to fall even more dramatically. It went up instead and those traders are stuck in the...
This perpetual bull-run stock has rallied to a new ATH while the rest of the market was and may still be in turmoil. The MACD looks strong and stochastics suggest rally potential. This current impulse appears to be a 5th Elliott wave. Financials show a growth trajectory and a higher P/E has historically been supported by the market. The price action is...
Log scale weekly chart showing Fib levels and rising wedge. Limited upside a likely possibility in near-term. Position: -1 /MESU1 @ 4506.00 (Shorted the micro S&P futures index, -$22,530)
I just noticed this current bull rally looks very similar to the rally that took place before the Covid crash in terms of price action. The current trend slope is nearly identical to the slope just before the crash. Different color circles have been added to indicate the similarities.
Look at the new high in the put/call ratio and also, the pretty colors. Bearish on stonk indexes for now. The VIX appears to have lost downward momentum and the Fed looks like it cannot raise interest rates to fight inflation.
but if they are, this would be like stealing some from one of them. The chart speaks for itself imo but key points: Ascending triangle breakout, upward channel, and Fib extension.
Good time to start averaging up for a long-term (1+ years) position imo. Income is up nearly 7x since the beginning of 2018 but price is only up about 3x. The chart appears to be breaking out of and retesting a rectangle as well.
Key points: 1. Lumber is down 68%, WFG is only down 25%. WFG rallied with lumber. Lumber will likely stabilize at or below the current price. 2. Momentum channel has been broken 3. MACD has crossed below zero and the signal line has crossed the MACD line 4. Chart colorization is a reflection of MACD crossovers 5. WFG is technically in a bear market at a greater...
Ascending triangle ready to break out, beginning to ease into a long position next week.
Comparing loss percentages to late 2018 and early 2020, I've come up with support levels of 32000 and 23000. 42000 and 12000 are also support levels due to previous price action. If 42000 doesn't hold, we're headed down to 32000. If 32000 doesn't hold, we're headed down to 23000. If 23000 doesn't hold we may go as low as 12000 this year. There is a head and...
Chart uses fan lines and key points to look at 2nd order trend lines created by the key points. Anticipated price levels are from other analyses of mine. The upper target price and date are the only outputs that can possibly be attributed to this chart alone (the green fan line and blue line intersection), therefore, a conservative strategy would be to target...
The 30-day max gain percentage will probably continue to cool off and peak around 8%. This suggests a price target of $444 before June 16th. The Max Gain indicator is linked below.
Earnings on fruit sales have outpaced price and the market will support a 48% higher price according to the P/E ratio. Earnings continue to grow and the price action is forming an ascending triangle which tends to be a reliable pattern especially if it breaks out between the 2/3 to 3/4 length zone marked with the rectangle. The price objective of a breakout is...
Ascending triangle breakout out between 2/3 and 3/4 triangle length with an attempt to draw/predict Elliott wave price action.