Essendy

Essendy

Flirting with a double top breakdown if this week closes below ~$165.50. Been seeing RSI divergence on the monthly for a couple years now. I would expect VWAP from c0vid lows (~$138 currently) to be tested if the double top completes.

Essendy

4.33 is a key level imo. We'll see how price reacts to it this month. Momentum is up for now. Long-term chart still just now breaking out of downtrend.

Essendy

Is this where the Nasdaq finally respects the black uptrend line/RSI divergences? Or does it still not matter?

Essendy

Imo this is a very big level for the dollar going back decades. But more recently it marked the high in 2017 and again in 2020. I think we get a large move off this level in the coming weeks due to the 9 ema crossing the 21 ema last week. Price is also consolidating between VWAPs from 2020 lows & 2022 highs which should provide for an even larger move once it...

Essendy

Not the best spot to try & get long semi's imo. NVDA reports tonight. I'm playing it short via SOXS. This way I won't get burned if NVDA doesn't fall hard & could possibly get a chance to add if NVDA goes up a little. Ultimately looking for SMH to test VWAP from October lows around $172.

Essendy

Looks like this RSI divergence could be a problem.

Essendy

Potential RSI divergence & false breakout of the wedge. Still above VWAP from May 21 highs, for now.

Essendy

Currently above all weekly MA's & VWAP from all time high and YTD VWAP. If price can make it out of the blue triangle, looking for $300 then new all time highs in 2024.

Essendy

Last time this triangle broke out it ran ~20,000%.

Essendy

Oil is currently consolidating at the 0.618 retracement from the recent run up. RSI also bouncing at the uptrend. Good risk/reward on the long side here with a stop around ~$72 imo.

Essendy

Retesting the support breakdown level as well as the weekly 20 ema & the 0.618 retracement from the recent decline. This chart looks similar to around this same time last year imo. Multi-week run up early Q4 back into the same levels mentioned previously. We'll see if we get the same result.

Essendy

Quietly attempting a breakout of this rectangle today. Looking for ~$1,020 next then $1,350s sometime next year if this breakout holds. Long & looking to add if RSI closes above 70 today.

Essendy

First half of 2023 we saw 2 touches of the bottom of the monthly demand zone, a break below it, and a rip back into the zone and above. Are we seeing something similar now on a smaller timeframe? That $105.50-$106 area is key. Bullish above, bearish below.

Essendy

Looks very bullish imo especially if we get a weekly RSI close above 70. See the last time this happened in 2020 with the blue arrows - price ran from ~ FWB:14K to low $60s. Strong push above ATH VWAP & weekly 200 sma as well.

Essendy

$350 is the line in the sand. Can't be bullish below that level imo.

Essendy

I've got a bearish RSI divergence at resistance. Don't shoot the messenger. No position for me.

Essendy

Back to that key $4,155 level that price essentially spent all of April & May of this year at. Also here now is VWAP from ATH & last October low. Will this level hold & October mark another bottom? Or will it break which I believe will ultimately lead to new, new lows? Would like to see a bounce up to the 0.618 area then look for shorts there.

Essendy

Finally closed above the trendline after a few weeks of indecision. Get ready for some volatility if VIX is above the black line. I don't make the rules.