Skipper86

Skipper86

AMZN has formed an island bottom right on major price support and a major trendline. This recent price correction is out of touch with EPS and revenue. Price target: $159.50

Skipper86 Updated 

I have a call expiring on the 10th and in order to anticipate how many oscillations there may be between now and then, I took a look at the time cycles of peaks and bottoms. There does seem to be somewhat of a sine wave pattern as well as an upward trend. There may be an ascending triangle forming but I've given up on looking for that particular pattern on...

Skipper86 Updated 

There is a falling wedge on the daily chart. There has been a 50% retracement of the Covid rally. There is the potential for a breakout to the upside. The rising wedge in the S&P that preceded this bear market move had a brief move up after breaking out of the wedge but eventually the move played out. The Nasdaq may do something similar here.

Skipper86

..were analyzed to see if they support a long entry because technical oscillators and moving averages do. Revenue and earnings growth look good. A price-to-earnings ratio of 25.5 is okay in absolute terms and can go much higher. The ratio was 40ish at its highest. If it gets that high again it will be concerning but we have head room. It appears debt has been...

Skipper86 Updated 

..has been a source of two good shorting opportunities over the past month as indicated by the red arrows on the left. The chart is somewhat self explanatory so if anyone has any questions, please feel free to ask. The primary consideration which is pointed to by the red arrow on the right is the confluence between the red trendline, the rising wedge, and the...

Skipper86 Updated 

A nice parabola can be observed in the DXY chart. Cartesian coordinates have been added for emphasis. This is not investment advice.

Skipper86

It will be interesting to see if the Fed can buck this trend or if they will back off the rate hikes before a breakout occurs. Don't mind the chart on the right, I did not intend to publish it, but it's not hurting anything so I left it there.

Skipper86 Updated 

Be on the lookout for a rise and then a drop around mid-session NY time tomorrow. The overhead 100-hr average seems to be approached before drops in recent times. Sometimes it’s exceeded, tagged, or failed to be tagged. Beware of the falling wedge, 50wk sma support, and previous high (weekly chart) support which are the bullish counter-arguments. Looking at...

Skipper86 Updated 

This trendline was drawn a while back, when price was nowhere it and pricing being anywhere near it at this time seemed unlikely. Long here might make sense.

Skipper86

There are not any great setups currently but nearby support levels are shown. It might be worth buying a bounce off off ~800 or ~770 as a swing trade if we get one over the next couple weeks.

Skipper86

A trendline drawn from the all-time low of -40.32 to the November 29, 2021 weekly low was tagged perfectly by the December 20, 2021 weekly low which occurred 3 weeks after the November low. This seemingly-unlikely tagging of a trendline which starts at a negative value suggests that the trendline may be respected if we approach it from the current $108 price...

Skipper86

Refinery margin explained: The refinery margin is the percentage of profit generated from the sale of refined crude products. A 3:2:1 refinery spread margin percentage is charted here. A 3:2:1 refinery spread approximates the profit generated from a barrel of oil by subtracting the cost of 3 barrels of crude oil from the revenue generated via the sale of 2...

Skipper86

The S&P is approaching a 50% retrace level and the 200-week simple moving average, a combination which has served as support in the past. There should be an intraday bounce here (3500), at minimum.

Skipper86 Updated 

Bearish considerations: 1. All moving averages of importance have curled over and have negative slopes. 2. A clearly-defined uptrend has been broken and tested multiple times. 3. A .382 Fib retracement has been clearly defined. 4. There is a bear flag pattern (the green channel). 5. The 200-day has been retested and rejected from below in a major way Bullish...

Skipper86 Updated 

A pattern which for now is being described as a bat pattern until someone comes up with something better has been observed previously and now what appears to be a larger version is forming. SPY has repeated the "W" pattern many times during the Covid bull market but the most recent instance of such a pattern failed to continue the rally. This perhaps signals the...

Skipper86 Updated 

Last week’s unusual intraday price action on Cinco De Mayo when there was a big rally right at the market open followed by a ranging pattern with highs that formed a crescent sweep looks very similar to the price action on the daily chart for the year. There are many differences between the patterns but the similarities between the two very different timeframes...

Skipper86 Updated 

The top chart which is the daily shows major trendline support confluence at 101.00 and a 15-day time cycle of peaks which suggests we’re currently near or at a peak. The bottom chart which is the hourly shows a compound rising wedge (a rising wedge within a rising wedge) and the breakout of the teal line which “requires” a kickback revisit before allowing any...

Skipper86 Updated 

SPY is at horizontal support and is peeking below the 100-day sma. The previous two selloffs didn't make it much further than 1.5% below the 100-sma, as shown by the 1.5% envelope band below the sma. This suggests a buying opportunity may be upon us within the next 5 or so trading days, judging by previous price action. I wouldn't want to hold long over the...