WellTrainedMonkey

WellTrainedMonkey

$MSFT trading at 30x forward earnings and 8.5x EV/EBITDA. How far does FOMO stretch in a QE infinity world?

WellTrainedMonkey

Maybe it the full moon that got the bear in me all excited. In this correction, I had somewhat stopped modelling the fundamentals as something is broken; perhaps it is all the money printing. Nevertheless, let's focus on the price action and today's exhibit is the S&P500 e-mini. Couple of interesting points to consider if this is the start of the next leg...

WellTrainedMonkey

Last chart for today is $APPL. Nowhere close to a real trough but it is -30% from the top and sitting on a weekly SSR support. Watch out for lemmings buying the dip " 'cos $AAPL is such great value!" TBH, I am not sure how well $1200 mobiles are going to sell with the world going into lock down and most probably a recession.

WellTrainedMonkey

$JPM is an excellent example of the good news and bad news state we find ourselves in. With zero interest rates, banks are doomed as I have highlight before. $JPM is a long way from a real trough. However, the price action is sitting on a weekly SSR support and the $ESA is looking bouncy. Watch out if you are short.

WellTrainedMonkey

Here's the good news, if we look at the $ESA:- --> it is testing a long-term uptrend from 2012 --> it has completed an extended ABCD down move --> Positive stochastic divergence --> if you zoom in to the 30M, you can see price action trading above a newly established SSR

WellTrainedMonkey

Having some away from markets and want to shoot out some charts. The bad news is, on a long-term basis, markets are just starting to break down. The good news is, in the short-term, markets are testing long-term support and could mount a significant relief rally. Japan has already broken down from the Abenomics and Kuroda Bakooka trend line, I would expect a...

WellTrainedMonkey

Having some away from markets and want to shoot out some charts. The bad news is, on a long-term basis, markets are just starting to break down. The good news is, in the short-term, markets are testing long-term support and could mount a significant relief rally.

WellTrainedMonkey

Having some away from markets and want to shoot out some charts. The bad news is, on a long-term basis, markets are just starting to break down. The good news is, in the short-term, markets are testing long-term support and could mount a significant relief rally.

WellTrainedMonkey

Having some away from markets and want to shoot out some charts. The bad news is, on a long-term basis, markets are just starting to break down. The good news is, in the short-term, markets are testing long-term support and could mount a significant relief rally.

WellTrainedMonkey

This is a follow-up from the Bounce Zone series of charts where I highlighted equity indices were at key support levels. After of a week oscillation, the $ESA and $NQA have formed a potential Gartley formation. What is a Gartley formation? A Gartley is a bullish reversal pattern which is found after severe declines, characterized by short-term double tops and...

WellTrainedMonkey

As we contemplate the convergence of long-term US rates with that of Europe and Japan as well as the Japanification of the global economy, it is useful think about the potential impact on banks. Yes, low rates are not good for banks and as we have seen in Japan, perpetual low rates does not equate to an increase in velocity of money. That chapter in financial...

WellTrainedMonkey

As we contemplate the convergence of long-term US rates with that of Europe and Japan as well as the Japanification of the global economy, it is useful think about the potential impact on banks. Yes, low rates are not good for banks and as we have seen in Japan, perpetual low rates does not equate to an increase in velocity of money. That chapter in financial...

WellTrainedMonkey

As we contemplate the convergence of long-term US rates with that of Europe and Japan as well as the Japanification of the global economy, it is useful think about the potential impact on banks. Yes, low rates are not good for banks and as we have seen in Japan, perpetual low rates does not equate to an increase in velocity of money. That chapter in financial...

WellTrainedMonkey

Part 4 of the Bounce Zone series. $HSI! is trading at the bottom of a medium term wedge with SSR support. $HSI1! has been a relative out performer this past week. The HK government just passed a huge stimulus budget and Xi has it under control in China.

WellTrainedMonkey

Part 3 of the Bounce Zone series. $NK1! at medium term uptrend line and SSR support.

WellTrainedMonkey

Part 2 of the Bounce Zone series. $NQ1! at support levels and showing some healthy green candles.

WellTrainedMonkey

Over the past week, I posted a few make-it-or-break-it key inflection levels to watch as I felt we were at a key inflection point in the market. With the benefit of hindsight, it is clear by now the trend is negative as $CL1! broke below the $50 handle as did $US10Y which broke below key levels set in 2012 and 2016. After what some have termed as a negative 5...

WellTrainedMonkey

Strictly speaking, today's Chart of the Day is not really a make or break it type chart: --> $JPY has hit a long-term resistance level which coincides with a major SSR level. --> within the 240M time frame, there was an ABCD completion on 20 Feb --> and of course, the $JPY is the classic flight to safety trade Target for the $JPY would be the 104 region.