MoneyPatterns

MoneyPatterns

SPX and SPY both confirmed a hangman doji for end of week last week. :) This bearish doji normally signals a reversal in price trend. en.wikipedia.org(candlestick_pattern) I am seeing a bearish pattern ending last week, bearish pattern premarket today, and bearish patterns. Weekly view shows same view of white 30Min wedge, inside blue ascending wedge, inside...

MoneyPatterns

SPX on the 30Min is showing we are consolidating in a wedge. An ascending wedge is a bearish pattern. If you ask me - having a wedge, in a wedge, in another wedge should be extremely bearish. LOL We are in a white wedge (could be ascending wedge based on support angle), inside a blue ascending wedge, which is inside the main multi-week white ascending wedge. The...

MoneyPatterns

All daily trends are holding - showing RSI trend is bullish and next overall trend will be bullish. Capitulation dots confirming we are bottoming into the point of the descending wedge. Buy Signal is showing on Daily candle. We may get a Daily sell signal in a few days as we get another dip down into the tip. In the next 3-5 weeks I think will be the last turning...

MoneyPatterns

MSFT showing a buy signal on Daily although Weekly view showing capitulation and downtrend has started. In my opinion, we do not see previous weeks high of $152.50 before going down into Xmas. White channel was added to pink ascending wedge. Wick down on this week confirmed channel. Breakdown of white channel around $146.65 will confirm downtrend. We need to...

MoneyPatterns

Jobs Report was released today showing an increase in jobs added. To me, people working 2-3 part-time jobs is not adding employment. Most people in this group need to work multiple jobs because of poor pay, causing inflated jobs numbers. While the CNBC anchors say "goldie locks" for stocks, the charts show 12+ weeks of bullish trend indicating prices are...

MoneyPatterns

Weekly view of AAPL confirms downtrend is just beginning. RSI trend is about to be broken. Weekly RSI is overbought at 76+. Bullish trend is overextended. Weekly Bullish trend has been going since Sept.2nd week. 16 weeks bullish trend was longest recently (after December 2018 selloff). 12 Weeks is overextended. AAPL is hitting blue resistance line which has...

MoneyPatterns Updated 

SPX is forming a Bear Flag on multiple time periods (easier views are 1Hr or less). I added a Aqua colored channel to the chart, as it appears this last support was not retested. For this reason with the Bear Flag combination, I see we continue down by Friday if not Monday next week. While the SPX is forming a Bear Flag, VIXY is forming a Bull Flag. This...

MoneyPatterns

BTC showing several bullish signals going into the turn - up into halving. Cross of 10WeekMA will confirm bullish trend upwards to retest previous highs $11K+. Buy zone is getting smaller which is a good sign. Bullish RSI Divergence and next trend showing bullish confirm we are in a turn. Capitulation dots show we are towards the end of the downtrend - almost at...

MoneyPatterns

This chart is a Weekly view continuation of the Daily view chart posted below. ROKU showing a sell signal on Weekly, which is one of the best trends to watch for options entries IMO. RSI trend on Weekly view has broken down. Next trend on Weekly is bearish. Hash Ribbons (newer indicator) show that selling has started and capitulation should increase. Fairly...

MoneyPatterns

ROKU had a buy signal on the Daily yesterday, but the Weekly view shows a sell signal. Bear flag formation on the 1HR and lower time frames. Weekly trend shows bearish trend is next. I think we are in a consolidation before further selloff in ROKU. 1.618 Fib extenstion matches up on Daily with end of Bear Flag. For this reason, my stop loss didn't hit on ROKU...

MoneyPatterns Updated 

ROKU has multiple gaps to fill down, was downgraded from Morgan Stanley today, and is overbought. Morgan Stanley downgraded price target to $110. Average Analyst Price Target - $124.93 Current price is $137+ www.marketbeat.com We need to see ROKU break the white trendline to confirm the lower gaps may get filled. Price may bounce off the white line back up,...

MoneyPatterns

VIXY is forming a Bull Flag as SPX (or SPY) forms a Bear Flag. Price is reaching out to 10WeekMA just like SPX. The inverse relationship continues between these two, which confirms to me that the "hidden trend" is still in play. We are basically consolidating on the way down. Much like oxygen masks come out when a plane goes down to keep people calm, they are...

MoneyPatterns

THIS IS NOT READY FOR SHORTS/PUTS YET. I WILL UPDATE WHEN I ENTER This is a great way to play the trend down and then long again on the way back up. :) I am overall bullish on LMT and their business model. But this chart says it's due for a correction. There is a series of charts I am finding with patterns which end mid-2020 which also coincides with...

MoneyPatterns Updated 

Seeing ROKU have a little retracement up made me recheck the chart. As we see, ROKU forming a Bear Flag on the 1HR. Price is very close to breaking 10WeekMA. Downtrend should continue once this occurs. RSI breakdown trendline coincides with Dec. 5th, same as ROKU Bear Flag breakdown point. RSI should not get over 70 - or consider exiting bearish Puts/Shorts....

MoneyPatterns

To be clear - I like MSFT and I am long term bullish on them. I play the pattern and the chart. Chart is bearish currently. This doesn't mean I don't like MSFT. Weekly view shows MSFT is just beginning the downtrend. I think we go down to yellow support at least with current correction. This will fill top 2 gaps. Bottom gaps may all fill with broader market...

MoneyPatterns

THIS IDEA IS NOT READY YET IMO. Looking for ideas I came across UTX. I was hoping to play the UTX merger in a bullish way, but the chart pattern is bearish. We have an ascending wedge looking to end around May 2020 - Same as SMH, AAPL, SPY, and others. I think we can catch a small rebound inside the white triangle. My entries are either breakdown of the white...

MoneyPatterns Updated 

We are in a good position to enter a downtrend for AAPL. This fake news about China will not hold. Chart shows we are at end of pattern on Weekly view. White uptrend line just broke this week. RSI trend on Weekly view just broke to downside. Filter Dots confirm downtrend has begun, even though today we see a little rebound upwards. We should be crossing the...

MoneyPatterns

VIXY just turned bullish on trend for Weekly view yesterday. We have close gaps to fill above to $20. RSI has bullish divergence on Weekly view. Normally goes to 70 before calming down again. Looking at VIXY, SPY, and AAPL together I think the bigger picture is we are headed lower. Market is overbought. All these charts are correlating together in direct or...