MrAndroid

MrAndroid

Very bullish looking inverse head and shoulders on chip giant Nvidia. Tech stocks are doing very well today. A leader like Nvidia could drag the whole market back into bull territory. But is it all a trap? I don't know.

MrAndroid

This chart shows that recent price action broke out of a triangle pattern to the upside. However my draw has this long term channel from the start of the bear market indicating resistance. Perhaps this rally has already peaked.

MrAndroid

This pattern is showing a very large triangle daring all the way back to the 2020 low. It isn't perfect but I think does indicate that a major move higher or lower could happen soon. Today price movement was very negative and pushed below a volume supported level as shown here.

MrAndroid

This chart of ADP shows a distinct bearish rising wedge pattern and recently what looks like there could be a breakdown below it. Looks bearish.

MrAndroid

The price of 1920 should be a fair amount of resistance because it is along term high from way back in 2011. The recent rally could pull back at this stage.

MrAndroid

Bitcoin has blasted through the psychologically important level of 20 k and now approaches another swing high of 21500. All this is in the context of a larger downtrend pattern as shown by the parallel channel drawn here.

MrAndroid

The price of bitcoin has cut through the 20000 dollar level like a hot knife through butter.

MrAndroid

Looks like ETH could be about to make a move as it is on the edge of the triangle pattern. SHould be noted that it is in a downtrend so a down side move is more likely even though right now it is pushing higher.

MrAndroid

The DXY has breached the diagonal trendline today and now is retesting a very long term support level. The Fed is not going to like this if it breaks even lower.

MrAndroid

On this short term hourly chart of the S&P500 we can see that the market reacted in a volatile way to the CPI number with a pronounced hammer candle. The pattern over the last few days looks to me like an ascending wedge which would indicate a potential move lower soon.

MrAndroid

The candle for yesterday on Nasdaq has a shooting star look to it which may indicate that the rally is not going to be sustainable.

MrAndroid

The last three weeks have seen the formation on S&P500 of quite a solid 'higher low'. Now price has broken above the triangle pattern that had formed. If this rally can sustain and get above the longer term down trend line and print a convincing looking 'higher high' it could mark the true turning point. Remains possible.

MrAndroid

Quite a powerful rally out of the bearish look wedge pattern that was visible last week and now there is a bigger pattern of what looks like an inverted head and shoulders which would be very bullish. Price target I think would be around 1960 which is the 0.786 fib retracement of the recent high to low swing.

MrAndroid

Looking at this weekly chart we can see that todays upswing hit resistance at the 3900 level. the price is currently only 6% below that which would mark a breakout (or fakeout) from the longer term 2022 downtrend.

MrAndroid

$210 would be approximate target based on this Head and Shoulders formation on Natural Gas futures. Currently price is in a nosedive.

MrAndroid

This bearish wedge pattern on gold has a breakout to the upside going on. This either is a good example of when price action does not follow the typical patterns and acts randomly or is potentially a suckers rally. Who knows.

MrAndroid

This long term chart of the Euro shows the downtrend that has existed since 2008. Todays movement of 1.4% looks like it could be the start of another swing lower.

MrAndroid

The rectangle on the chart shows that the current exchange rate of Won to USD is at a level which in the past has been supportive. Will the roles reverse and the dollar pick up strength against the Won soon? That's my hunch.