CaptainLogik

CaptainLogik

Best short term buying potential in a really long time. Sell for pull back in first week of Sept.

CaptainLogik Updated 

You gotta prove this channel is valid in a really big way. Either we crash on reasonably flat or mildly good earnings, or we have a squeeze of epic proportions and then counter balance on the 50% line of this long term, all time bull channel. Oooooh this be exciting times indeed.

CaptainLogik

BTC is in bad shape bro, bad shape. Tech is looking like as squeeze is on. I'm curious if TSLA says they sold all their coin, and this initiates support behind TSLA climb, further fueling market surge. This would also make BTC weaker still. I mean, I figure BTC is dead man walking at this point based on it's chart technicals, but you never know.

CaptainLogik Updated 

TSLA is an interesting story. And in any story, the only thing that matters, is data. As you can see on the all time volume profile on the left, we are currently building volume interest at a higher point. There is no interest in taking tesla all the way back to the yellow line, which is the original point of control (POC) based on volume interest. We also see...

CaptainLogik Updated 

I've had these fib channels up for a long while now, and so far, they haven't failed me. There appears to be a potential counter narrative going on long term. You can see that around 2015, the market became lower volume and very conflicted about which channel to take. The COVID drop exactly touched the 50% line of this down channel red narrative. But we know what...

CaptainLogik

Ugh. are we going to see some volume and pull the point of control higher in this channel or are we going to revisit the 200 MA??? It's driving me crazy we are just sitting here. Feel like if it was gonna take Apple and Tesla down to the last leg it would have done so by now. 8 weeks on TSLA holding a channel bottom. ARG?!?!

CaptainLogik

Will we go up 25% or down 25%? Those are the only options. Either the shorts cover and we get a totally crazy rush to the previously failed fib level or we give up and crash into the red area. That red area? That is the all time Nasdaq channel created by the low of 2008-9 crash. We have officially left that zone for months, but come back to retest it. We spent a...

CaptainLogik

Will we fall back into the red channel or will we use this more vertical channel to go on yet another long journey? We came back and retested the red channel top, but we took so long to do so, the plunge to attack it was harsher than needed. Now that we're back out of it, it remains unclear if we will get away from it. So far, Volume profile suggests we must at...

CaptainLogik

3 choices 1. this is the exact bottom and June shoots like a rocket off the retest of the 61.8% and we run for both the green long term trend line and the top of the channel. 2. We go sideways on this fib for months and make a big H/S to consolidate volume and make a new point of control around 4400, but investors make no money unless they sell the tops. 3. We...

CaptainLogik

Bitcoin is trying to decide what it is. Is it an asset? Or is it a currency. I believe it has always been and always will be a currency and not an investment vehicle. We've been seen greater divergence from BTC highs relative to volume interest and long term indicators. If this was a small cap stock, this chart is due for a second test of the bottom of the long...

CaptainLogik

Accumulation has begun in earnest. We should see a 10-12% up side with this next rally to put us into a balance period. The green zone is the top of the long term channel. The red is the base of a bull channel. Incidentally, since 2009 crash, we left this red channel base. And we took this long to reclaim it. Now we're testing if this is the new channel and if it...

CaptainLogik Updated 

IF we believe that the green channel based on the 2000 bubble top is now being retested, we needed to come down to today's level to retest. The last six weeks are algos driving us there. Typical short mechanical trend, which are always exhausted, and lead to huge reversals when that trend is broken. This is not a crash. The news has been hilariously bias. Leaks...

CaptainLogik

Pretty massive covering this morning in the premarket. Futures suggest we're putting in a bottom. I expect one last push through 9 am today, tuesday with a strong rally off the base of a new up channel. This is my updated QQQ top w/ trend lines price will try to take and hold as justification for the pattern. Don't get me wrong, I think it is highly unlikely we'll...

CaptainLogik Updated 

Every time I look at the long term, all I see is the fib top of the long term channel in green. When I stretch it out to match one more run, everything just looks right. This is pure opinion, but I think Monday we're going to gap up to catch the shorts and we're going to see maybe the most epic squeeze I can think of. If that is the top of the most long term...

CaptainLogik

Okay, I was scanning for break out trends on short squeeze as I do often for some of my biggest winners and Had bought in last night after hours. Then I read more and find WSB is talking about this stock. Well pile in boys! I tend to see that horizontal fibs are where highs and lows bounce from, and the closes matter more on the trend channel. Based on that, I've...

CaptainLogik

Today may trade flat as it collects at the base of this short term channel. But futures are confirming retest of this channel, with upside significant to barely break new high before a fade down to the red Head triangle trend of my head and shoulders. That red line defined by down spikes on multiple touches and support. Oh baby, one last rally to end them all. (I hope)

CaptainLogik

Tesla is the one to watch. Could hit 1900 to top it all off. I think we're gonna see it run for the 50% line of the channel it fell way way out of, and reclaimed at the beginning of this run. Now it has to claim the 50% or die if it doesn't. The rest of the market is going with it. Rivian is breaking out on volume from it's down trend like any small cap. And I...

CaptainLogik

Yuck. I did not understand the price action today, it was too much, so I've reset my expectations for this market. I originally believed we were in a Wyckoff Distribution top, I'm sticking to that thesis until proven otherwise.