Steve666

Steve666 Updated 

This projection is based on an Elliott Wave count and relies on commodities regaining a bid, from their recently mild toxicity. DYODD S.

Steve666

A suggestion for those looking to establish a long INTC position. 1) Intel has traced out a bullish Butterfly pattern going back to November of 2020. 2) Price action has taken it to a Pitchfork bottom. 3) Within this is a Bullish Black Swan Harmonic. 4) My momentum indicator suggests near price exhaustion to the down side No guarantees of success but I am...

Steve666 Updated 

I have never has any interest in Bitcoin nor its derivatives. I like the technology but believe we are still in its early days. That is not to say however I don't follow it. One equity way to position a Bitcoin view is with GreyScale Bitcoin Trust. So currently on a weekly basis there there are two current bullish harmonic Patterns in play ... A...

Steve666 Updated 

Aurora Cannabis (ACB) has managed to give up 99% of its value since its October 2018 high. Certainly this is wealth destruction at its finest. I can find no technical reason to jump in here other than its at the bottom of a channel (pitchfork) and has a gap that needs to be eventually filled. (This is a TSX chart as they are open today). For many this...

Steve666

There may be hope for you NVDA hodler's. Nvidia's Share price appears to have held the bottom of the channel after a 54% decline from its peak. While NVDA has bounced (apparent triple bottom), we need a strong tailwind (counter-trend) to propel it through the suggested entry point. (Top of rose colored supply zone) Targets and a stop are marked. The ...

Steve666 Updated 

Short term trade suggestion on Shopify (SHOP) on the TSX Exchange. Confluence of a Harmonic pattern and a Pitchfork (secondary bounce off of the outer channel.) Nasdaq showing signs of a short term bottom. This is key ! $410 -$414 would be my preferred entry level on a point D retest. Don't be greedy. Use a tight stop. Do your own due diligence and respect...

Steve666 Updated 

For Gold to aspire to the heights that its evangelists have been spouting on YouTube and various forums, I would argue we need a $USD breakdown . (I often think the only monetary gains these people are making from their advice are click revenues.) One reasonable way of portraying Gold's future is illustrated by the Gold/DXY ratio. $USD's recent strength...

Steve666 Updated 

The SPY ETF has traded within a well defined channel since the beginning of 2022. Within this major down draft, a more acute channel has been in evidence for the past 2 months. (shaded rose) Looking at this from a harmonic perspective and bearing in mind that this is a 2 hour window, I see evidence that a cypher pattern is developing with may provide a...

Steve666 Updated 

With today's US CPI numbers out of the way and a modest degree of stabilization in equity markets, Gold appears to have made a short term bottom. This is the third touch of a six month trendline. We add to this a bullish harmonic Gartley pattern which appears to have formed. (This includes a solid AB=CD subset.) We need IMHO another ingredient. A weaker $USD ...

Steve666 Updated 

In my opinion DXY Index appears to be at an inflection point. It's not hard to account for the USD's recent strength given the significant rise in US Treasury yields over the past 5 months relative to other investing jurisdictions as well as surging commodity prices which more often than not require USD payment. Interest rates differentials do matter, attract...

Steve666

Netflix (NFLX) ...Will this Horror Show ever end ? Netflix has been one of the bigger casualties of the NASDAQ selloff managing to lose over 74% of its value since early November 2021. Taking a 10,000 foot view and reviewing a monthly log chart(insert) suggests a well defined channel going back to NFLX's debut in May 2002. The bottom of this channel now rests...

Steve666 Updated 

Unless you have been living under a rock for the past 2+ years you may have noticed the interest you pay to borrow anything has increased significantly. Using 10 year US Government bonds as our proxy, these yields have risen about 8 fold during this period. How and why is a topic for another day. My point here is Have have we gone too far too fast and is there...

Steve666 Updated 

Here's something for you punters and long haulers. From TV: ..... ReNeuron Group Plc engages in the development of novel cell based therapies that target significant areas of unmet medical need. It develops its core stem cell assets such as CTX neural cell line and human retinal progenitor cells. The company was founded by John David Sinden in 1997 and is...

Steve666 Updated 

Iron Mountain (IRM) has had a 35% run in 35 days. I have indicated a Wolfe Wave formation which projects a $48 target in early May. Overlay this with a Harmonic Crab Pattern which is the basis of forming. (For purists this developing Crab pattern may not meet their more exacting criteria.) Additionally the indicator in the bottom panel suggests a forming top...

Steve666 Updated 

Until recently (March 2022) PayPal had given back over 70% of its gain from the March 2020 low to the Feb and July 2021 double tops. Since then its rallied 3% then given back a third of that. A possible bottom is in the process of forming over the past month as evidenced by current Harmonic and momentum patterns Elliotticians might also view the current wave...

Steve666 Updated 

TSLA has had a good run since (+66% in 40+ days). Much better than broad markets (approx. 13%) A Wolfe Wave (started 2/24/2022) has met its time and price projection. A harmonic projection of possible D reversal points suggests a pause is near at hand having hit our second of three price levels. Lets let this upward trend play out. Don't fall for FOMO...

Steve666 Updated 

Those of you who may consider holding Bitcoin as part of your equity portfolio, the ProShares Bitcoin Strategy Bito ETF (BITO) may be your ticket. Above is a 4 hour chart.Warning: cryptocurrencies are particularly volatile assets. This ETF is backed by Bitcoin futures contracts rather than the actual coin and as such carry a slightly negative discount because...

Steve666 Updated 

Probably not a bad purchase around the $550 area given the recent 2/3 haircut. Traded at $585 this morning. Lets see if we get there first. Not investment advice. Do your own due diligence S.