649bruno

649bruno

When constructing your charts, always look left because structure leaves clues. If you saw my commentary on KO before it went on to a series of all-time highs, I thought that KO would break out of its extended trading range. It did indeed break out. So, what is a realistic expectation for profits? First, a Fibonacci extension. This will give you a good idea of...

649bruno

This is part three of a three-part series on break-outs to all time highs. Today I feature Coca-Cola (KO). I learned 40 years ago there are four phases in a stock's movement. (1) a sideways move, or a base; (2) the up trend; (3) the topping formation, and (4) the decline. KO had been in a base for over a year, with a double top near $45. Would KO have a breakout,...

649bruno

I hope you read part one about McDonalds. This is part two on breakouts to all time highs. I will show you MSFT. Microsoft had been going sideways for about a decade. After the mini-crash in August of 2015, I felt there was in IMPERFECT XABCD pattern in MSFT. No Gartley, bat, butterfly, or crab, but, I measured the impulse leg C to D and got a possible Fibonacci...

649bruno

Remember the old TV Show "Superman"? It started by the announcer saying..."It's a bird. No, it's a plane. No, it's Superman". I started this narration by pointing out that sometimes XABCD patterns are not perfect, but if you examine them closely, they give you clues as to upside breakouts to all time highs. This is the chart of McDonalds. It had been going...

649bruno

I am 67 years old and have been charting since 1983. In my 40+ years of statistical analysis in manufacturing, we commonly use SPC (statistical process control) to identify when a shift has occurred in a process. A form of SPC is called "Stoplight Control". The control sheet has a green, yellow, and red area. There should be random variation for measurements (just...

649bruno

This is the second DOW sell chart I am submitting. The first was daily, this one is HOURLY. My suggestion is that if you have an idea for an hour chart, do a fractal at least three times longer in time duration (i.e. one hour equals three hour fractal). The purpose of this submission is to see if the hourly chart is close to the daily. In this case they are. With...

649bruno Updated 

With the DOW positive for the year 2016, a Bearish Bat formation is developing. Here is the step by step setup: A 50% retracement of Impulse leg X to A is DOW 16,576; the C to B impulse leg approximated a point D downward reversal at 17,150 (a Fibonacci 1.618 level); the X to A impulse leg suggested a downward reversal at 17,233 (a Fibonacci .786 level); the DOW...

649bruno

The S&P 500 (also SPY) recently completed a Bearish BAT pattern on a one day time duration/ measurement basis. This is a possible 2618 trade, with the 2.618 level being approximately 1867 (on the S&P 500) as a meaningful target level. This would also be a .786 Fibonacci retracement (of the X to A impulse leg). The RSI as well as the Stochastic RSI (lower chart)...

649bruno Updated 

IWM has shown me an overbought condition and a bearish butterfly. I also detected a continuation pattern for about a 16% gain in RWM, and, as we all should know, RWM is the inverse of IWM. IWM has also under-performed the S&P 500 during the recent counter-trend rally, and is still about 15% under its highs. I bought RWM in anticipation of the IWM decline. I...

649bruno

Deutsche Bank will most likely continue its decline from its all time high of $125 several years ago. This decline has been slow and painful, but steady. I detected a bearish butterfly which gave me another downside projection, this time to approximately $15.50 per share, and this should happen on or about April 12th, 2016. I feel this stock is heading lower.