Primary Chart: IWM on a weekly timeframe with downtrend line and major support and resistance zones Note1: IWM is an iShares ETF that represents the Russell 2000 small-cap index in the United States. Though not as widely tracked as SPX, NDX, or DJIA, the Russell 2000 ( TVC:RUT ) is one of the major US indices. It is likely the fourth most watched US index. Note2:...
I think PEPE is a great coin, but we need to buy it cheaper. The 0.618 FIB retracement is a reasonable level to buy the PEPE coin if you believe in another pump. There should be one more pump to new all-time highs after the ABC correction. This coin is very volatile, which is definitely a good sign for all traders because the volatility increases the chance of...
Primary Chart: BTC's Long-Term Upward Trendline that Has Held as Support since 2013 (Weekly Log Chart) BTC Appears to be holding right at a long-term trendline that has held as strong support since 2013. The chart above is a logarithmic chart, which can help present a more accurate perspective of price action and price relationships when the chart covers a...
A few months ago, SquishTrade wrote a bearish technical analysis on TSLA that forecasted a drop to a series of targets that were all reached. TSLA's downward move was more violent and rapid than anyone may have expected. Indeed, TSLA broke down from a huge head-and-shoulders pattern. Supplementary Chart A is the head and shoulders pattern that broke through its...
Regardless of whether you are a bear or a bull, BTCUSD will probably take the scenic route. This may sound like max pain theory, and it probably is. One follower asked recently for an update on BTC. My last BTC post called for another push higher before going lower. A the time that was published, BTC traded in the upper $18000s and the downward TL (log scale) was...
Primary Chart: DXY Daily Chart with Upward Trendline, Downward Trendline and Fibonacci Levels Dollar strength starting in early 2021 lasted until the fall of 2022. It was nothing short of impressive. But DXY (the dollar measured against a basket of five other major currencies) started topping in September 2022 and then began making lower lows and lower highs,...
Primary Chart: Daily Time Frame, 8-D and 21-D EMAs, Long-Term Fibonacci Levels (Retracements of META's Entire Range), Uptrend from Nov. 4, 2022 Low SUMMARY: META remains in a severe downtrend since its all-time high in September 2021. The primary-degree trendline remains unbroken and in effect. A shorter down trendline for most of 2022 has been broken...
Primary Chart: ETHUSD on a 2D Time Frame The Primary Chart shows ETH's major down trendlines over the past 14 months. The first down trendline (magenta) remains effective and has contained price since the all-time high in November 2021. The second down trendline (gold) has been broken. The anchored VWAP from the all-time high (teal) is currently at $2230. ...
BTCUSD BITSTAMP:BTCUSD has traded in a choppy fashion for some time. Since mid-June 2022, it has traded modestly downward (downward and sideways) relative to the steep downtrend it experienced from the November 2021 all-time high to the June 2022 lows. This author has refrained from posting on crypto for a while given the choppy and uncertain nature of the space....
Primary Chart: S&P 500 (SPX) as represented by SPDR S&P 500 ETF (SPY) 1. SPX and Recession A recession is exceedingly likely in the near future. It could officially begin next month or in 4 months. But does that mean bears should be rewarded by a straight-line decline to new lows? Sadly not. Unfortunately for market participants, the S&P 500 S&P 500 (...
Primary Chart: AMD's Downtrend from All-Time Highs (2D Time Frame), Fibonacci Retracements and Projections, Long-Term VWAPs AMD remains in a severe downtrend at the primary degree. AMD's price on its most recent rally off the October 13, 2022, low rallied right into trendline resistance and rejected lower. On a linear chart (primary chart above), price...
Primary Chart: TSLA's Downtrend Shown by Parallel Channel, Anchored VWAP from Sept. 21, 2022, Key Support / Resistance Levels SUMMARY: TLSA remains in a steep downtrend at the primary degree of trend. The selling is not likely to be complete on longer time frames. A countertrend bounce may take TSLA's price up to the following targets: $155-158...
Primary Chart: Primary Down Trendline, Fibonacci Levels, Two Key Anchored VWAPs SUMMARY SPX's downtrend in 2022 was never invalidated. It remains effective at the start of 2023. Downward forward earnings revisions combined with a challenging macro environment (recession along with tight central bank policies in the US, UK and EU and elsewhere) will continue...
Primary Chart: AVAX's rally from August 29, 2022, to September 12, 2022 Appears Corrective It appears that the downtrend in AVAX's price has resumed. But one need not speculate based solely on the recent days of selling. Price charts for AVAX have left plenty of evidence to show where price may go next. First, it's important to define the overall trend. The...
Primary Chart: NVDA's Primary Downtrend Since November 2021 Represented by Parallel Channel and Anchored VWAP from ATH Summary: NVDA has been in a downtrend since its all-time high on November 22, 2022. NVDA broke above its down TL on a linear chart briefly in whipsaw move (bull trap) on December 13, 2022. It failed decisively back below. This failure at...
Primary Chart: Primary Down Trendline from 2021, Secular Up Trendline from 1997, Long-Term Up TL from 2008 GFC Low, and Fibonacci Retracements from Covid 2020 Low Summary: 1. This post provides a broader view of the technical environment within which AMZN's day-to-day price action takes place. 2. AMZN remains within a primary downtrend (see the parallel channel...
Primary Chart: SPX Long-Term TL and Anchored VWAPs, Fibonacci SUMMARY: SPX experienced a failed breakout above the downward TL. See the Primary Chart above. This suggests weakness ahead, but price may remain choppy throughout December. Price failed right at key levels including the VWAP anchored to the all-time high on January 4, 2022, a downward trendline...
If we take a look at the last weekly candle on the weekly chart, we can clearly see a gravestone doji / shooting star. Also, we can see a failing wedge pattern. That's great! Merry Christmas, Bitcoin!