MrAndroid

MrAndroid

The triangle pattern remains intact to the upside. Its probably not real.

MrAndroid

A rising wedge and divergence pattern had been visible for a few weeks now and today there is a strong breakdown from this pattern. Failure to break above the previous swing high. Bearish.

MrAndroid

S&P is now at a critical moment of decision as price retests the old bear market trendline. If this doesn't hold then I would be wary of another larger down swing.

MrAndroid

Over the last 2 weeks there have been several attempts to break above 4200. All failed. The current ascending triangle pattern could be tested today after bad producer inflation numbers yesterday. This could be a turning point.

MrAndroid

Natural Gas has fully got to the target set by the former head and shoulders pattern. The question is whether the long term support price is a true bottom. This one is knows fondly as the 'widow maker'.

MrAndroid

This chart of the long term price of USD versus Japanese Yen shows that recently we have a retest of support which roughly is the neckline of a very pronounced inverse head and shoulders pattern. This pattern has not been broken and remains intact despite recent dollar weakness.

MrAndroid

The 2 year treasury yield is a very good predictor of the Fed Funds rate. Since April 2022 the yield has formed a broadening ascending wedge pattern which indicates a potential move down. For the last couple of months the yield has been in a narrow downwind channel. With CPI data coming soon this could trigger a breakout either to the upside or downside which is...

MrAndroid

Here the Korean Won is clearly failing to break above the support zone indicated on the chart. This could mean another down leg for the Won. Several other currencies are showing charts of turning points versus the USD.

MrAndroid

GBPUSD failed to breakout from an ascending triangle pattern and now looks like a M pattern double top. There is support below but the chart looks more bearish for the pound.

MrAndroid

Ascending broadening wedge pattern on Yen / USD has now broken down. The larger scale long term pattern is very much in a down trend.

MrAndroid

Upside breakout from a triangle pattern on the 2 year yield. This is something that if it continues could put a dampener on the stock market rally. That and also the bounce in the DXY.

MrAndroid

The last 2 days' movement on DXY looks like we could be in an area of support for the dollar. Indeed the yen looks very vulnerable. Is this a headwind for stocks? Possibly.

MrAndroid

Having broken out of the descending broadening wedge pattern on the S&P 500 I think that now the most prominent pattern is an ascending triangle shown in thick red lines on this chart. This is a bullish pattern. A breakout from this triangle pattern could see the S&P reach new all time highs in 2023.

MrAndroid

Very relevant to the housing market is the price of wood. Here in a long term channel up trend with a mid line I can see an inverse head and shoulders, price in the upper half of the channel and a breakout above the 10 month moving average. Could the housing 'crash' be called too early?

MrAndroid

The overall chart pattern of the year long down trend is a descending broadening wedge. The textbooks state that this is a bullish chart pattern. In recent days the price has broken out of this pattern. There is clearly a level of resistance from recent highs just above where we are now but if they too can be cleared I think we could reasonably declare the end of...

MrAndroid

Looks like a potential bullish move on EBAY could be happening soon if the price breaks above and retests the neck line of this head and shoulders.

MrAndroid

This chart shows the price of gold in British Pounds, a currency that is generally weaker than the dollar. Here I think there is a pretty good parallel channel of the long term uptrend. The more near term shows a potential ascending triangle which is usually bullish. However on the RSI I see divergence in momentum compared to the more recent high.

MrAndroid Updated 

This clear head and shoulders pattern on SOL would have a target price that would be truly devastating for this crypto.