See you at the bottom. Nuff said...
AMZN is seeing some pressure here after hitting a new ATH yesterday. We're coming off overbought levels, and likely to see a retest of the recent range as early as today. We've seen strong support at the 200DMA (3,233), so a retest of this level is likely to result in a bounce back toward the upper band of the range. There's no question Amazon is overbought, and...
Bitcoin (BTCUSD) is getting hammered here at the top of the morning session. We're down almost 4% on the day, and heading toward weekly support. If we lose the 30k support we're likely going to see a test of 20k where the 100MA (w) is sitting...
AAPL is seeing a rejection here near the ATH. We're likely going to see a retest of the lower ascending trendline around 128 before another potential test of the ATH. Having said that, we've been seeing elevated valuations for quite some time, so we may lose the ascending trendline support on the next test if the broader market sees a notable correction...
US Futures are tanking on Thursday after a rough overnight session saw the S&P fall back toward it's 21EMA around 4,269. As of 9AM the S&P is down -1.3% to 4,294, the Dow is down -1.3% to 34,124, the Nasdaq is down -1.32% to 14,607, and the Russell is down -1.85% to 2,207. The Russell is down around -4.28% on the week, and has lost critical MA supports,...
I find this chart to be quite remarkable and interesting. I love using chats to reflect back on history and time to see what happened, where we were and now how far we come. This chart is a perfect example of that. What I have here is a chart of the VIX or the Volatility Index. I have it set to a weekly chart and what I am doing is just mapping out a few key...
Using Volatility Index measures we can steer away form quite markets and go where there is money being moved. A day traders longevity relies heavily on MOVEMENT! Track movement with the CBOE Volatility Indexes!
Idea for VIX: - VIX finally has touched pre-COVID levels. The debt and margin fueled recovery is complete. - Markets hitting ATH's every day (nearly a record for days in a row). - Yet every warning is flashing, market components are down, yet indices grind up on low volume. - Liquidity is flowing out, tapering has already begun, global credit impulse is negative,...
The Dollar (DXY) is seeing heavy inflows today, and we're retesting wedge resistance for the 3rd time in a couple weeks. King Dollar, is that you? Don't forget, if we recapture the wedge, we have immense upside implying a major market move to the downside if we break through. We may be finally nearing the end of this disgusting ponzi scheme we call a market...
Vol has awoken. I repeat. Vol has awoken. Bears UNITE! 1 min chart shows clear bottoming pattern, plus impulsive price action to the upside. I'm seeing impulsive fractals meaning 1-2 1-2 With all the new supply of dead bulls in the future, we'll have to turn them into hamburger or something. How does bankrupt hamburger taste? Would you like some forbearance...
US Futures are trading sideways on Tuesday morning - we're sitting near the ATH's, and showing no signs of letting up. The bears have vanished again at the opportune time for bulls, setting us up for further upside this week off the back of nothing but relentless and persistent fiat debasement by central banks, along with the corporate buy-back ponzi. We're...
just like I said! after 1y or little more now the fear is down!
In the last 3 months there have been 3 major up trends and corrections. We currently are in the 4th uptrend and a correction might develop in the next 1-2 weeks. The historical corrections show that the market corrects about 40-60% of the previous uptrend in a quite short period of time. In particular it takes a time between 10% and 50% of the uptrend time to...
I have been following many charts and patterns for quite some time. and The set up for an entire market melt down is almost too perfect right now. and I will go through the list of events that have taken place: First lets start with Gold. Gold had rallied on the back of lower yields for the better part of 2 months all to just get shot down during the FOMC...
A few quick observations. At the bottom of the chart we see the June's monthly VWAP - eight days ago we were under it. At the close today we touched 1.41 Fib level right at the close for another record day! Tomorrow is Non-Farm Payrolls, I'll hazard a guess (and my money) in this case it will be good. Moreover SPX investors apparently are exciting about it! All...
US Futures are drifting lower on Wednesday morning after the MBA Mortgage Applications Index sank -6.9% and the ADP Employment Change came in at 692k vs the 400k expected. This sets us up for a potentially strong payrolls print on Friday, which at this point may lead to a risk off move on the assumption of tighter monetary policy as a response. According to...