JebusLives

JebusLives

This is a mid-cap Canadian energy producer, it's local and I follow them. The way that RSI has formed a rising wedge makes me think there's a bearish reversal inbound for the stock. You can see how CPG behaved on the last two pullbacks, and sentiment has taken a much bigger hit this time. Sentiment tells me this will test the 200D EMA soon, and the RSI tells me...

JebusLives

I'm seeing bullish signs of life in SPY heading in to this week. The MACD on the chart below show early signs of forming a bottom. The histogram is exiting bearish territory, while the MACD and signal line are completing a falling wedge. The RSI also shows that we're wrapping up a period of consolidation, another wedge coming to completion here. When I add up...

JebusLives

I've taken 3 years from SPY (2007, 2008, 2009) and overlaid it on current day SPY. A possible future.

JebusLives

A possible future for SPY. This one is kind of dark, PG14 stuff. Don't show your kids or your wife's boyfriend. Might see one final retest of the yellow channel bottom ~464, might not Support @456 - 50D EMA Support @450 - Previous rally highpoint Support @448 - Bottom of red channel I'll be watching 450 very closely for my next play. In this scenario, we...

JebusLives

Might see one final retest of the yellow channel bottom on the way down ~464, might not Support @456 - 50D EMA Support @450 - Previous rally highpoint Support @448 - Bottom of red channel I'll be watching 450 very closely for my next play. Ghost feed is a possible future based on a scenario where we bounce off 450. Looking for confirmation of a bounce on 450. ...

JebusLives

A few items of interest on this chart: Double Top around 470 November Rally didn't quite get back to the top of the yellow channel RSI and MACD clearly in bearish territory Breaking bottom of yellow channel It looks to me like a test of the red channel is imminent, we're going to see 450 and a test of the bottom of the red channel.

JebusLives

A possible future for SPY. If we hold 457, we could move in to this harmonic pattern. If we lose 457 (which we'll know about today) this is invalid.

JebusLives

Here's WTI vs CPG. I'm seeing resistance at the top of the channel, there's a really significant long term technical level to breakthrough here, it's unsurprising that there's resistance. .. but you can see oil moving up, giving CPG the energy it needs to break that channel. What do you see between those channels? Nothing but a nice big gap. This could run to...

JebusLives

CVE is currently fighting with the top of the 5 year price channel. WTI has clearly broken out of the previous 5 year price pattern, CVE is lagging. Earnings on Nov 2 - I'm looking for a big breakout there. After breaking out of the existing channel, the new range might be $15-$22 (CDN)

JebusLives

It looks to me like this chart has hit bottom. The ATR is approaching a previous bottom, RSI is trending upwards, but price isn't quite following yet. I'll save you some time doing DD - This company is a bag of crap - A huge pile of debt and cashflow concerns. .. but it's always darkest before the dawn, and $80+ WTI and a pile of new orders is what these guys...

JebusLives

The consistency of the bars, and the straight angle of that ascent - It's a thing of beauty, and something I don't recall seeing before. I'm not going to make any predictions as to what this means. I'd love to hear what others think, because you surely have more ideas than I do. 😅

JebusLives

I'm feeling pretty good about finding more 🚀🚀🚀 in this pattern. I know enough about Elliott waves to wonder if that's what I'm drawing.. I also know enough about Elliott waves to know there's a whole bunch of rules involved that probably invalidate this structure. US Crude inventories are building two weeks in a row now. If we get another report with a build...

JebusLives

If WTI makes a break up past $77, CPG may breakout of the current channel, attempting to gap up to the top channel. Sustained WTI >$80 is the catalyst we need there.

JebusLives

At the risk of being a nerd, let's take a moment to appreciate how perfect this bull-flag on the USOIL chart is. I'll be very dissapointed if it moves down after making such a pretty flag 😂

JebusLives

Rogers has bounced off the 200EMA & 30 RSI level a few times lately, looking for a repeat here. I'm looking to confirm a reversal and grab some calls. I think I'll go with a 2 week expiry, looking to hit PT1 or 2. Going for a month expiry might give you enough runway to reach for PT3.. but I think the theta cost outweighs the chance of hitting that target.

JebusLives

I'm looking to buy some SPY calls, and play the rebound on this next pullback. Here are the points I'm watching for reversal and why. I'm expecting the pullback to bounce on the 50EMA, somewhere between 440 - 443. If we pullback past 436 and that previous low, I think that has major implications for the current rally.

JebusLives

Previous tests of support, if we break down, do we head to the 200EMA?

JebusLives

I'm not in BTC at the moment, but I don't like the idea of being long based on the weakening RSI.