The S&P 500 rallied off of increased confidence that the Fed will pivot their pervasively hawkish stance. This is likely to be transient and the market was due for a relief rally, anyway. We are currently testing a dense patch of levels in the 3740's, and will face significant resistance here. If we can break through, then 3792 is the next target. If we...
The S&P 500 has edged lower yet again, showing little buying interest even at these levels. The fourth quarter has just begun and all indications point to more gloom for stocks. We have broken our level at 3584, finding support just above the next level down at 3547. Multiple green triangles on the KRI are suggesting good support here at these levels, but the...
Stocks look incredibly weak as persistent risk-off news and a hawkish Fed are impacting the markets. The S&P 500 is forming a bear wedge at 3617, and the Kovach OBV is bearish, and has flattened. We are long overdue for a relief rally, but we will need more momentum to come through before we see anything significant. If we break down further, then we should...
Apple has now approached the wave 1 target area and is below the 0.618 retracement of wave (i). A turning point at $139.29 (0.786 retracement) is most likely. There, AAPL should complete wave (ii) and see values from $213.74 to $231.35 in wave (iii). So it looks very bullish for the largest company in the world and price increases of up to 50% could be possible....
Stocks caught a massive bid, breaking through highs, and finally met resistance at 3737. The Kovach OBV has picked up substantially, validating the pivot. It is likely this rally is transient and we will retrace back to lows or support around 3645. But if we can break through 3758, there is a vacuum zone until the next target at 3792. We can expect 3800 to...
The asset has hit an all-time Low currently taking back its old Load-zone and has the potential to achieve midline of its long-term channel. A breakout over R2 (minor resistance) can trigger a swing to the following targets.
I'm seeing potential for another GME 24% run in the near future. The trade is going to be an entry sometime in the next few days @ or under 25.71 The sell price we are looking for is around $31.97 Orange lines are the previous 24% trade and need to be noted as possible resistance or support.
The S&P 500 is still in bear-mode, though it appears to have found some support at 3645 as we reported yesterday. We do appear to be seeing some meager consolidation with a narrow range forming between this lower bound and 3714. A red triangle on this level confirms strong resistance. The Kovach OBV does appear to be trekking upward, which may indicate that a...
The S&P 500 has been slammed by recession fears, a hawkish Fed, pervasive risk-off themes in the news, and a potentially disastrous hurricane barreling toward the gulf of Mexico (oil refinery hub) and Florida. We have completely given up the 3700's, and are deep into the 3600's with 3645 providing support at the moment. The Kovach OBV is hugging lows and appears...
AMZN formed a double top starting in July of 21 and confirming in November of 21 with a break in January of 2022. Since then we have confirmed on the weekly chart a down trend under key 30 and 40 period averages on the weekly. Typical of bear market rallies there was a 44% rally in price from the lows of June 2022 to August of 2022 when prices hit the moving...
With the SPX rallying over 18% from trough to peak over the last few weeks it looks like the recent upward trend could be under threat. As we can see on the chart above price is threatening to breach the lower third standard deviation (-3SD) off the linear mean at 4058.16. Given the high central tendency of signal to revert toward the linear mean(Pearson’s R^2 =...
Stocks got slammed yesterday, breaking through lows in the 3800's. We anticipated support at the base of the 3800 handle, but the S&P 500 broke down even lower, currently feeling out the highs of the 3700 handle. At this time, 3758 has provided support and we appear to be attempting a push back to the 3800's. The FOMC meeting came out more hawkish than...
The small rally we saw in stocks yesterday was quickly batted down. We managed to make a run for 3909, which was our target and lower bound of some congestion from earlier this month. However, we promptly rejected that level, as anticipated, and immediately sought support again at lows just above 3825. The markets, usually quiet before an FOMC, reacted out of...
Stocks caught a nice pivot from lows just above our level at 3827. We saw some volume come through and were able to break past a relative low at 3887. Currently a bit of a retracement is taking us below that level again. We won't expect much action from the markets before the FOMC, so current levels are likely to hold. Watch for support at 3827 again, and...
Stocks are edging lower yet again, as investors price in a potentially historic rate hike. In order to combat the highest inflation we have seen in 40 years, most agree that we are looking at a 75 bps rate hike , but some suggest it could be as high as 100 bps . However, multiple indicators suggest we are in the thicket of a recession, and after this rate...
get ready to buy if it doesn't break this support of 1660usd
Stocks got slammed yesterday after retail sales suggested several areas of the economy are being hurt by inflation. The Fed is still expected to hike rates, and some fear that this will tip us deeper into a recession. Stocks closed lower, extending the worst selloff in over two years. We broke support here at 3887, and appear to be testing 3867, but a green...
A hotter than expected CPI print tanked stocks yesterday, wiping out this week's rally and then some. The markets were hoping that CPI, which is the Fed's favorite inflation gauge, would show that inflation is plateauing and that their policies are working. Under these assumptions it would be reasonable to think that after September's rate hike, they would take...