simonsays452

simonsays452

Wait for pulback here to 23% fib retracement which coincides with the 50hr MA. Look to nibble bw 0.5837 and 0.6087

simonsays452

Watch for retrace bounce, see what other cryptos do here. If holds, room for leg higher. Otherwise, look to 50% fib retracements b/w 2.60-2.62; 50hr MA should grind higher here, too

simonsays452

Looks like this mini retrace to 6.03 is the 4th leg of 5, which appears to terminate at 6.60ish. This coincides with a few other levels between 6.60 and 6.66.

simonsays452

Here's an updated view on ETPUSD. Hoped we could push through to test 5.50 yesterday, but weakness set in across the crypto complex apparently due to the BTCUSD pullback. That said, ETPUSD and IOTUSD are the only greens on my crypto watchlist...that's bullish. I would expect for ETPUSD to give us a bearish fakeout on a breach of its current symmetrical triangle...

simonsays452

Watch for a push through 5.50, which should usher in a new bullish leg higher towards 6.06. Take some profits at 5.47, though and look to buy back at 5.35 before the ride higher.

simonsays452 Updated 

Yesterday, LTCUSD traded in lockstep w/ BTCUSD throughout the US session and beginning of the Asian session. However, at about 11pm EST, when BTCUSD broke out above 5620, LTCUSD stalled and didn't budge. It made a double top at trendline resistance which coincided with the 100% fib ext at 62.01. This morning, it tried again to rally, but put in another (lower)...

simonsays452

HMNY breaking out of ascending triangle. Targeting 15.24

simonsays452

Watching for TRUST impulse sell @ 5.40

simonsays452

$MU's move has been fantastic hit the top end of my target range this afternoon. Would love to see a pullback into 37.50ish. Donno if we'll get it as the 37.90 bounce looks like it could have been consolidation/new structure support forming. For now, I'm on the sidelines watching and very much looking to get back long.

simonsays452 Updated 

Yes, the chip rally has been nothing short of breathtaking, but that doesn't mean it's too late to get long. MU technicals actually look to support another leg higher, even before Sept OPEX. Look for another couple days of consolidation with the next leg higher terminating ~38.

simonsays452

PUBLISHING TO MOVE THE CHART TO ANOTHER LAYOUT

simonsays452

OMG

simonsays452

Amidst the backdrop of yesterday's broader market move to new all-time highs, $F showed continued weakness. This accelerated on news of potential emissions cheating at $GM. Recent selling pattern screams of institutional selling. Watch out below.

simonsays452

F saw sustained weakness this week against flat/bullish dip-buying in SPX. Sentiment divergence is NOT bullish. F closed at prior structure lows and at the end of the prior moves range. I rolled down to 10.5 PUTS on fears of a pause here and will look to add more on a bounce off of current structure lows. If 10.90 breaks though, watch out for a swift move lower...

simonsays452 Updated 

Moody's downgraded Canadian banks last night...and this is just the beginning... Overheated housing market Lower oil Will better articulate the short CAD trade this evening.

simonsays452

LONG Technicals bullish supportive of a 6.40 test up through gap-fill at 7.00

simonsays452

Peak auto and technicals, to boot!

simonsays452

US rates didn't budge following the Fed's "surprise" balance sheet discussion. Instead, 10yr treasuries got monkey-hammed on Friday - entirely shrugging off Syrian escalation fears, closing on the lows and and decidedly breaching month-long trendline support. Look for a bounce at 124'08 and a re-test at 123'28, which corresponds to the first breach of 10yr yield...