TraderBwater

TraderBwater

Copper is breaking out of a multi-year long cup-and-handle consolidation in daily time frame, as Gold first broke out. In the monthly time frame, Copper can be seen accumulating, steadily holding above all the moving averages. Once it breaks out of previous pivot, it would accelerate. Huge momentum in the next couple of years. Long-term investment opportunity.

TraderBwater

XLF has been up on the weekly without any major pullback since October, 2023. Now the rally has reached major resistance from previous ATH and with a series of 3 bearish divergence in RSI, the 5-wave rally from the October lows has either topped or is near a top. The rally is also getting less steep falling under the trend line. The next big move is likely to...

TraderBwater

Now that SPX has made a lower low today, we have another confirmation that the rally from October has been completed. It was an extended 5th wave, as noted with the 3rd wave having the highest RSI reading, followed by a sucession of 4 bearish divergences in RSI.

TraderBwater

ADBE gapped down 14% today below the 200MA. Such a huge drop has confirmed that it is correcting the whole rally from Sept 2022. Expect a bounce and further downside into the 0.5 to 0.618 retracement of this rally in the monthly timeframe. In the daily timeframe, it would coincide with the zone between 420-450 I expect in April. Short-term bearish until...

TraderBwater

QQQ made a lower low and has already lost the 21 moving averages in 3 waves. Next Monday and Tuesday it may bounce before another sell-off, probably triggered by FOMC's decision on Wednesday. To me, it is not worth trading QQQ these few days with lots of chop. The volume has been light the last few days. It's better to move to a trending instrument like Gold...

TraderBwater Updated 

wave 2 correction seems finished and is about to rally soon, if not tomorrow NASDAQ:ARM

TraderBwater

Momentum is extremely strong that has already broken above previous high in RSI. It will make an all time high. Seasonality also favors energy into June. Meanwhile, DXY is beginning its wave 3, which will make energy and metals fly.

TraderBwater

The idea that ARM was doing a bull flag is now invalidated after the Feb 20 low pivot in RSI has been taken in the last drop. Expect a bounce and then more downside.

TraderBwater

An inverse head and shoulder has formed and a break above the previous pivot will be the first confirmation that the Hong kong index has bottomed

TraderBwater

Nasdaq has finished the 5-wave rally from the October lows after having 4 consecutive divergence in RSI on Daily. A short-term pullback is expected to correct this rally.

TraderBwater

XLE and oil stocks have been consolidating since 2022 and has finished the 3-wave correction and is moving out of this long term base. Oil futures also has bottomed. Another confirmation is that all these instruments are holding above the moving averages.

TraderBwater

FCX has been consolidating for over a year and is building a nice cup base. On Thursday it gapped up to stay above the 50 EMA and is still holding. The bottom of this base is probably in. Great for long term swing.

TraderBwater

TSLA is now testing the upward channel. This upward channel was once resistance but was broken with force and is pulling back to test it for the second time as support. If TSLA can hold here, it is a very bullish setup in the long term.

TraderBwater

Broke above the upward channel on the weekly. Let's see if we can finish the week holding above resistance.

TraderBwater

The German index came out of the 14-year-long correction (since 2008) in Oct 2023. Since then, it has made 5 waves up and 3-wave pull back. Now wave 3 of 3 in progress as RSI breaks above to erase all divergence.

TraderBwater

SP:SPX The 4 hour chart shows clearly how the 5048 level that was previously resistance has now turned support. The gap up was breaking that resistance in powerful momentum. Since then, this level has been tested twice as support. Weekly chart shows also this week has tested the low of previous week. Once we move above the previous weekly high, we will be off...

TraderBwater

the pullbacks of NASDAQ:CELH are getting shallower. This is the beginning of a parabolic wave iii of 3 rally.

TraderBwater

still early in its powerful wave 3 rally. Targets to at least 400