The current pitchfork trend is holding and I'm looking at the US10Y reverse at 3.332% this month. I'm also expecting the fed to over tighten or some other news event to drive the US10Y to 5.376% by June 2023. The nature of pitchforks are able to easily visualize the physics of the market and I'll do my best below to explain what I'm seeing.
From a price action...
Light Crude has lost a significant level at 78.16 and is reverting to the mean at 54.09 as demonstrated by my pitchfork trends and sigma measurments.
Pitchfork Price Action Analysis
Light Crude has broke out of the recent uptrend (with red median) and broke away from the (red) mean on Jun 14th 2022 (priced at 123.68).
Since then it has started to follow the...
Last week this pulled back after 5 straight weeks of going up. From a strat perspective it is setup as a Bullish Randy Jackson.
Bullish Price Targets with a trigger above 42.70:
42.70 will take us to 47.49 and 52.39
Bearish Price Targets if the daily closes below 36.28:
$34.02 and the gap close around 30.
You can also get in if it holds the green zone (38.72-39.49)
Timeframe: Multi-month swing
Last week AVGO retested and rejected the weekly 10MA yet again and sold off rather quickly. I'm targeting price to eventually make it to 481 over the next month or two. For the last 3 weeks we have yet to get above the golden zone around 594-598. We have also yet to close above the weekly 10MA for 10 weeks.
How to play this?
• I'll...
Things are looking very bullish for Amazon and I'm planning to take profits quick and reload at support and resistance zones.
1.) 130 min 2up candle to Daily Bullish Randy Jackson Entry
If price breaks 3273.14 I plan to play calls up to 3281 and watch to see if we reject or continue to moon.
2.) Bullish Randy Jackson: If price breaks through 3282.37 then I'll...
MRNA buyers showed up last week with volume to the upside. There are a few options to play this to the upside or downside.
Weekly 2Up: 180.8 2U continuation trigger with PTs to 186.8, 193.2, and 200.08.
4H Upside: This could be setting up for a 2-1-2 continuation to the upside plus the weekly 2U trigger.
4H Downside: I would look for a trigger below...
XOM Weekly Bullish RJ could be a bag and a half. This can be played to the upside or to the downside. If we are playing to the downside we could be making an outside bar by the end of the month to 73.49.
**Weekly Bullish RJ Trigger**: 83.45 with targets to 84.92, 86.88, 91.51
Upside catalysts : Daily 2-2 reversal at the Monthly Retest Area; Gap fill to 80.44;...
Upside Targets:
193.99, 257.52, 291.18
Downside invalidation: weekly close below .854 fib (138.04)
Welcome to 2022 and it looks like Zoom could be forming a bottom here on the .854 fib retrace. If it loses this level then it is extremely clapped and I would just bury this into the ground.
If the bullish sentiment picks up I can see this going along for the...
