MoneyPatterns

MoneyPatterns

BTC has broken out of the $7k range. Next stop is $8k around the 10WeekMA. If we close a Daily candle above the 10WeekMA and maintain the bullish trend, this will confirm we should be going higher. RSI trend is bullish with room to run. General trend also confirms bullish trend currently on Daily. My Opinion - We will likely head to the $8k area and reject on...

MoneyPatterns

NFLX just had a bullish EMA cross and price cross above 10WeekMA. There is a decent gap to fill from $340-360. Yesterday there were 2 separate analyst upgrades with $400+ target. www.marketbeat.com I have been using vertical put credit spreads last two days successfully for $80-$100 each time on single put spread. Easy income. Put order today, profit tomorrow. ...

MoneyPatterns

CSCO (3 days ago) broke out of wedge pattern, had bullish EMA cross, and price crossed the 10WeekMA. These are all bullish signs. Trend on Weekly view just turned bullish. In my opinion, this should provide a good short term entry. My play below outlines how I reduce risk and maintain short-term entry in CSCO. My play here 27-Dec Expiry - 45/50 put credit...

MoneyPatterns Updated 

GBTC and BTC are consolidating in the tip of the wedge everyone is watching for months. I was able to get some fill orders on GBTC for $8.55. I have other wishful orders scattered below $8 (just in case). RSI is already low and suppressed for some time now. MACD is showing signs of flipping on Daily, but is not there yet. Multiple gaps to fill above price. Price...

MoneyPatterns

While we wait for BTC to complete the wedge pattern, all we can do is provide possibilities for outcomes. I see this pattern as a giant bull flag (like other patterns in Outter Space chart below). This would imply we are in the end of the consolidation area, tip of the wedge. My opinion is to dollar cost average (DCA) in the current price down to previous lows of...

MoneyPatterns Updated 

NFLX just had bullish EMA cross on Daily. Weekly and Daily trend both confirm bullish trend. RSI is bullish. Gap to fill from $335 - $360. I sold a Put Credit Spread for 12/27 expiry using $310/$315 spread for $2.20 credit. If we close above $310 and $315 by 12/27 (9 days) I keep the entire credit. I may exit the position at 50% for quick profit. I will update...

MoneyPatterns Updated 

SPY Daily trendline intersects with ascending wedge (big white triangle) on 12/30. As long as the Fed keeps pumping liquidity with Repo's, we may only see small declines instead of correction. Current ascending wedge shows possibility of $360 SPY into September 2020. Daily RSI trend is above 72 (getting high). Watching for pullback in RSI or break of white...

MoneyPatterns Updated 

THIS IS A NEUTRAL POST. NO POSITION IS ENTERED YET I am overall bearish on SPX/SPY. But with new information it appears the unnatural market forces cannot be overtaken at this time. As long as we see the Fed Repo's continuing, SPY will continue to go up. Facts / News From 12/13/2019 to 1/14/2020 the Federal Reserve is putting roughly $500 Billion through...

MoneyPatterns

I AM NOT ACTIVE IN THIS POSITION. WAITING ON ENTRY. GDX failed to breakout yesterday. Most likely tied to continued Fed Repo liquidity keeping SPY artificially inflated (see SPX chart link below for news). Current Daily pattern shown in last chart was extended. Weekly view shown on this chart best shows pattern. Still in a bull flag formation. Pattern ends...

MoneyPatterns Updated 

I will update once the trend on Weekly turns bullish on GDX to confirm entry. Not entered GDX is bullish in pattern formation currently. We are at the end of the bull flag pattern. Ready for next leg up. Price recently crossed 10WeekMA which confirms bullish trend. RSI trend has also consolidated similar to price pattern. Longer Weekly RSI trend (yellow) is...

MoneyPatterns Updated 

WATCHING ONLY. NO CURRENT ENTRY. I am planning on playing this both ways now that we have a China deal. We can play the pullback down and the bullish bounce back up. Daily RSI is almost 70. Weekly RSI is already 70. This is overbought. With Weekly trend being bullish since Sept.3 , I cannot find another bullish trend longer than 16 weeks. We will be...

MoneyPatterns

NVTA recently formed a double top. It looks like the pattern formed a bear flag after the double top. It just broke the consolidation of the bear flag and is continuing down. Trend just turned bearish on the Weekly view. To me this indicates I can enter the trend that started, rather than try to get in front of a trend reversal. If I get on these, I will...

MoneyPatterns

Daily trend on BTC is bearish. Possibility of decline down to $6K. I do not see us going lower than yellow support line for Outter Space chart. RSI and trend dots are already low in position, so we should not see drastic price declines from here IMO. Halving is 5 months away. Based on previous patterns, we should see price increase into halving. Green box on...

MoneyPatterns Updated 

Weekly view on VIXY/TVIX confirms the trend should be flipping to Bullish by next week. Weekly RSI trend has just broken to the upside. Recently broke out of the shoe/banana pattern. VIXY has followed this pattern for years, so I feel this is strong. Everything is lining up to next week sometime we should see SPY go down and VIXY/TVIX go up. EXITS -At pink...

MoneyPatterns Updated 

AAPL sank premarket on actual facts from Credit Suisse. iPhone sales down over 30% in November. www.streetinsider.com(AAPL)+China+iPhone+Shipments+in+Nov+Declined+Sharply+-+Credit+Suisse/16236895.html Then fake news from Trump tweet with no concrete material erases the factual data loss. Bad news - We are getting screwed for theta time premium in options Good...

MoneyPatterns Updated 

This morning CNBC again said there is a "tentative" Phase One deal with China. Dictionary definition of tentative - uncertain, not worked out. www.merriam-webster.com They had a guest who actually asked "what is a phase one deal actually?" and no one could answer. So the market is propped up on uncertain, unspecified, unverified information. As price spiked...

MoneyPatterns

MSFT broke out of the resistance line of $152.43 but quickly came back in bounds. Sell signal on 1HR candle. Trend just turned bearish, indicating we continue down if no higher for rest of day. Daily and Weekly view are still bullish. Moving average here is extremely close which is the reason why I would be bearish here. I cannot find another instance in the...

MoneyPatterns

AAPL had a selloff this morning which was erased by the Trump tweet "we are close to China deal". Funny how this is timed right at the market open. Trump and his buddies wanted to get in on some more cheap Puts before market goes down. LOL Moving average is coming for this like a shark. There is no Trump savior at this point. 4Hr, Daily, and Weekly trends are...