thomasdmd

thomasdmd

I'm not sure what kind of chart pattern you would call this, but the $XLU seems to oscillate between these upper and lower ranges pretty consistently. But why? It's like some game the institutional trader play

thomasdmd

Every now and then I like to back up and look at the big picture for unusual patterns I'm seeing lower highs and higher lows, consolidating to a point....much like an ellipse I'm thinking it represents the battle between the bears and bulls / shorts vs longs The only other time I have seen this pattern is from Sept 2007 to Sept 2008 It ended in a market crash...

thomasdmd

Anyone else seeing this? CNBC investors love this company playing on the European gas shortage But the technicals may show something else Keep an eye on that green channel started in 2020

thomasdmd

Symmetrical triangles occur when a security's price is consolidating in a way that generates two converging trend lines with similar slopes. The breakout or breakdown targets for a symmetrical triangle is equal to the distance between the initial high and low applied to the breakout or breakdown point. Will BTC breakout like Gold?

thomasdmd

You might have heard Powell use the term "Soft landing" today This is where the Fed perfectly balances the increase in interest rates with the decrease in inflation., So the stock markets gradually go down for a "soft landing" instead of crash This is a chart of the S&P 500 projecting a soft landing We should have a few more up days, followed by another decline...

thomasdmd

If I step back and use weekly intervals, it looks like BTC is forming a much larger head and shoulders pattern. Should be good for the immediate future, but we may want to take some profits in late March/Early April

thomasdmd

This chart shows better if you can zoom in to compare different growth periods, but what I wanted to show was the pattern that is seen after massive growth. If you go back to other growth periods like the dot.com and housing bubbles, you can see the rapid growth, followed by a slow down at the peak, followed by the decline afterwards. How far and fast we decline...

thomasdmd

Just a technical observation As the base of the VIX gets higher and higher, it usually ends in a spike This equates to a selloff/crash in the S&P

thomasdmd Updated 

Could this be the formation of a head and shoulders pattern? Not good

thomasdmd Updated 

I see this pattern going back for years The lower level of the VIX curls in an upward trend until it reaches a boiling point and we get a big spike Sometimes the spikes are big, sometimes they are small The biggest spikes ( ie S&P crashes) usually happen when the VIX curl starts lower, around 11 The current curl started at around 15

thomasdmd

Autodesk is on of the few long term growth stocks that has outperformed the QQQ for years. The stock is plunging now but just hit the 200 day moving average Is this a gulden buying opportunity ? Or catching a falling knife?

thomasdmd

I don't know if it's a bullish or bearish pattern, but it's definitely consolidating for a break I also notice the pennant ends almost exactly on the earnings date. The earnings game is always a gamble for me

thomasdmd

If you go all the way back to 2008 you will see the price of oil was declining year over year prior to covid The current price is well over the long established channel The RSI is also very high Momentum (lazybear fx) peaked in June and is steadily declining Other fundamentals to consider > we are at the end of summer so vacation travel will start to decline > UAE...

thomasdmd

Reading the newly released data from Ortex saying 31 million short shares were returned Wednesday June 2nd This may explain the volatile spike to $75 as a margin call + short squeeze twitter.com We saw another spike to $67 on Thursday, but that data won't be released until Monday (2 day settlement) More important to me is the newly established trend (Blue...

thomasdmd

Trey's Trades even said, "It's going to be a bumpy road" I see short term momentum slowing and we may be heading for a little breather Don't be surprised if we see a decline as low as $13 over the next few days It would still be within the new channel (blue) established As long as the channel growth continues, the squeeze potential increases.

thomasdmd Updated 

I don't like being bearish, but I am seeing a slowing down of the hyperbolic growth we have seen in bitcoin It might just be taking a pause like the NASDAQ or could represent investors being cautious. If it can break the upper line at 63,500 we should see continual growth If not I suspect it to stay within the slow declining channel until it finds a lower support level

thomasdmd

I expect to see some ups and downs, but the overall trend seems to be declining to the channel that was created from 2018 to the breakout on December 2020

thomasdmd

If the saying is true to form, here is your dip.