chinawildman

chinawildman

Not really. Market sentiment echoes an unstable whiplashing and overcooked economy that is accompanied by a hawkish Fed unwilling to slash rates. Sound familiar? So let's overlay 2018 and see if that's when the twists and turns come.... Apr 2 low, Apr 14 high, May 5 low. As good a guess as any right?

chinawildman

I want to caveat this post with the fact that I've never read any Gann books and only privy to the bare minimum knowledge in how to use Gann tools. First off, I don't really subscribe to the "mystical" aspects of Gann's work, but to me that doesn't invalidate the other aspects of his work. In fact most Gann tools are just visual depictions of market sentiments....

chinawildman Updated 

Behold the darling of the MSOs, GTBIF looks to be building a textbook Wycoff bottom... I believe we are early-to mid phase B. Ignore the timeframes and pay more attention to direction, levels, and volume. "Phase B: In Wyckoffian analysis, Phase B serves the function of “building a cause” for a new uptrend (see Wyckoff Law #2 – “Cause and Effect”). In Phase B,...

chinawildman

Taking a look at the 1/1 and 4/1 Gann lines (dashed)... If we use the slopes of these lines to draw trendlines from inflection points we start to get some predictors of relative greed and "value".

chinawildman

speaks for itself. Should find resistance at the 200WMA.... some consolidation is expected at these levels for a move higher.

chinawildman

Significant bearish divergence on the Weekly RSI. Probably time to start taking some profits on those longs if you've not already done so. Recession rant: Are we due for a recession? OF COURSE WE ARE. Why? It's simple... nobody wants to work. Powell can cut rates all he wants and unemployment will keep rising not because there aren't enough jobs to go around,...

chinawildman

Loving this 1-2 1-2 setup here for a long term BnH. The 6% yield is just gravy. Double bottom tested the 200 WMA (blue line) and expect said MA to trend long term w/ what is shown as the 1/4 Gann angle. I'm adding on any pullbacks here for a long term core position.

chinawildman

Expecting some kind of inflection point at confluence of Gann 1/1 & 200 WMA.

chinawildman

Might make this one a core position over the coming months... 200 month moving average tested successfully once already.

chinawildman

buying for the value here... massive monthly volume candle. Possible reversal here around all time lows. Potential end of a 7 swing correction but not banking on it... pun intended.

chinawildman Updated 

Notice the similarities between the 1st leg of the current correction on the daily chart compared to the entire correction on the weekly. Similar divergence in RSI on each timeframe. Similar strong intraday reversal bounce to start the current leg up. Bears are all ubiquitously calling for a lower low. Longs are all looking for signs of capitulation. It's...

chinawildman

That's what I like to say about taking my 4 and 2 year old out to eat... things could be going swimmingly and we might even say "hey we should do this more often!". That is of course until the inevitable meltdown and everything goes to $hit. That's kinda how I feel about the market right now. Those that have been following my posts know that I've been projecting...

chinawildman

Once again I will compare ARKK to the NDX 2000 bubble chart. RSI on weekly are divergent and a bounce can be expected soon. NDX lost 82+% of its value at its bottom. ARKK being more heavily leveraged towards risk will likely take a deeper dive than that but we're close. Technology isn't going away folks. Those that remember the turn of the millennium the...

chinawildman Updated 

Taking a quick gander at the log chart and we can see that if we match the magnitude of the first major correction (-85% from peak to trough) we complete this downward move around psychological support at 10k. Due to the parabolic impulsive post pandemic move in '20 from 10000 to 36000, I expect that we will consolidate and stay rangebound in this zone for the...

chinawildman Updated 

Several good signals from the past 2 months: Actual legislation being passed on the federal level... signs of price action detachment from broader S&P... greatly increased volume compared to any time during selloff. My bullish case is that I expect a final 5th wave surge to around 17.50+ followed by a period of consolidation for wave 2 with an eventual parabolic...

chinawildman

The gray overlay is an exact day for day clone of the period from oct '18 to feb '21, the last bearish cycle. Notice the correlation of local inflection points, right down to the week where short term trends shift. If this pattern stays true then we could be seeing a local low early-mid january followed by a strong impulsive wave 5 into the $25+ area into...

chinawildman

I'm a buyer below this green line. Since this turd plummeted through the 200 DMA it hasn't managed to touch it again... I think that will change w the next rally. (I believe the S&P will retrace to ~3700 then to 4150+ to conclude this B wave Right now a buy in the single digits and psychological support around $10 makes sense to me and/or a buy when SPX retests...

chinawildman

Looks like a good bet for a short term bounce here in the next several months. Hitting a consolidation zone where demand should be strong and long positions will be defended. Weekly RSI is crazy oversold.