Traders, For the first time in a year and a half, alts have broken above major resistance. This resistance happens to be the neckline for our long-trending inverse head and shoulders. This is hugely bullish! But before you max out your home equity line of credit, know that we are nearing what looks like it could become a local top. The channel which alts have...
Traders, It has been an amazingly bullish last couple of weeks both in the stonk world and in cryptos. In this video I cover what has occurred from a technical basis and what I think the charts are now showing us. In short, stonks look to continue their upward trends but crypto is less certain. I also wanted to explain why I went short on a few trades. What was I...
Traders, We have been batting 1000 lately when it comes to the SPY. Might as well make another bold prediction. It would seem that the greatest probability of price action is outlined in the chart. An inverse H&S is forming and the right shoulder has yet to start. I predicted the target down from the last H&S pattern to be 410. That was hit, almost to the...
Traders, SPY has bounced exactly as the charts had shown us it would do. I will briefly discuss what we can expect now in the weeks ahead as we continue our move towards the target of our blowoff top. We will also look at a few of my short plays. I will discuss what I was thinking in entering and what I expect now. I was stopped out of the NVDA play and will...
Solana has reached it's target from a long-standing inverse H&S pattern (zoom out to see). Daily RSI is over 86 as of this post. Going short here. SL 48. Target 32. Not fin advice. Entertainment only. Stewdamus
Dominance is performing nearly perfectly with only a few surprises along the way. I wasn't quite sure dominance wanted to test the underside of that channel you see in red. That channel started in November of last year. We broke to the downside in August of this year and never really retested. Well, here we are today. We have retested the underside of the channel...
Traders, Couldn't help it. Far too enticing to ignore. NVDA price will be attracted to that $317 level like a super magnet. Not only do we have a H&S pattern now in play, but we have that huge gap to be filled. I mean, trades like these don't come around every day! It's a no-brainer here. Not fin advice. Pure entertainment only. Stewdamus
Traders, For the second time this year, regional banks are threatening to cross on over an essential support that has carried us through this secular bull market for 14 (going on 15) years! If our support breaks, I fear that regional banks could drag everything else down with it. Remember, it is regional banks that hold the loans for much of commercial real...
Traders, As mentioned in several of my previous posts and last video, SPY has now reached its downside target. This level at 410 provides strong support and correlates with our level of support on the RSI. I expect this week to be an up week for the S&P 500 and the stock market in general. Best, Stew
Traders, If you've been reading my static posts, you'll know that the SPY has reached its downside target of 410 for the head and shoulders pattern that we've been watching. It's now looking like a bounce can be expected. I'll briefly touch on what I am seeing on the SPY chart as well as the DXY, VIX, and, of course, Bitcoin. I'll also quickly brief you all on...
Traders, We have been watching for this target to be reached for a few weeks now. Today we hit it. And just as I suspected, our RSI cooperated and synced with the price support, hitting its support at the very same time. Strong support in price levels conjunctive with strong support on the RSI means that the probability of a bounce next week is highly likely. Best, Stew
Traders, After some long and deliberate thought, I have decided to re-introduce shorts to my channel. This area is simply too tempting not to short. Previously, you will know, that I decided to only do longs, non-leveraged, crypto-only trades. There was reason for each. But I realize that I am boxing myself in tremendously by doing so. I will probably not be...
Traders, An additional point to my previous post regarding Bitcoin meeting its inverse H&S target of 35k: this also just so happens to intersect exactly a major resistance trendline which we have remained under since June of 2022. I know I don't do shorts anymore on this channel, but if I did .... Best, Stew
Traders, Since June of last year, we have watched the start of our inverse head and shoulders pattern begin to form and then complete in March of this year, at which time we broke above our neckline (purple) and began to take aim at our target of 35-37k. Unfortunately, Bitcoin then became rangebound. Today that range was broken. And technically, we can say that...
Traders, A couple of weeks ago you'll remember I expected a bounce off of our 200 day SMA which coincides with the bottom of my channel, making a strong area of confluence and support. But I wasn't sure if that was the end of our drop? Turns out, after testing the underside of our neckline for a patent classic retest, we have now broken below the 200 day SMA and...
Traders, Bought more BTC here. TBH, this just looks like another bull flag. I can see us hitting our heads on the 30k again where I may sell some but eventually that resistance will break. And I think sooner than later. Then we'll have to tackle that 31.6k level. If we can break above that, my prediction from Jan-Feb still stands - 37k by then end of the year....
Strong price support level here at .0916 (my entry price) SL will be .085 Target .1227 RR is 1.5 Not fin advice. Entertainment only. Stew
Traders, As you know, my original target is 31,600. Obviously, from the chart, you can see that 30k is significant resistance as well. Because of the quick pump this morning due to spot ETF approval news, I sold half my BTC at that 30k level. After dropping back down I decided to re-enter at 28k thinking that we'll now use that 200-day SMA for support. Overall...
