Skipper86

Skipper86

The bull flag price target for the Nasdaq 100 composite it 18000 by the end of February 2024. Using the extension that led into the bull flag as a guide, the end of the current extension is anticipated to reach the price target. Perhaps calls that expire in March with a strike price above 17000 make sense here.

Skipper86

Left chart: The daily RSI has a bearish divergence and failure swing (lower low) coming out of oversold territory which suggests a top for the month of October is probably in. A close below the 9-day (pink) moving average is also bearish. Right chart: The hourly chart shows price near the bottom of a price channel that is about 1 month in duration. A bounce...

Skipper86

On the monthly chart, using a 2-month stochastic, I’ve highlighted situations where a monthly candle closed near 2-month lows followed by a monthly candle closing near 2-month highs within the next 2 months. These rapid swings in price have led to a minimum of 23% gains over 3 months and a maximum gain of 47%, going by past performance. The implied price target...

Skipper86

There is a cup and handle breakout visible on the daily and weekly charts. This is not the proper application of a cup and handle pattern as outlined in the book "How to Make Money in Stocks" by William J. O'Neill because the pattern is meant to be applied to individual stocks rather than indexes, but the pattern exists none the less. It will be interesting to...

Skipper86

It broke above major daily SMA cluster It broke above all major weekly and monthly SMAs It bounced off major trend channel Bbands bandwidth at 5 year low

Skipper86

There’s a ripe inverse head and shoulders pattern on the Vanguard Total World Stock Index ETF. It would appear the index is poised to reach the previous all-time high which is the first target. The 2nd target is the price objective of the H&S pattern. I believe the chart is fairly self explanatory so I won’t belabor this description. Please feel free to ask...

Skipper86

There is divergence between price and oscillators such as Bollinger Band %B, Accumulation/Distribution AD%, RSI, DMI, and MACD. Price has also retested a point of control level just shy of 1400’ after attempting a significant drop down to 1100’. The red circle highlights that the lower BB has curled up after an up move in price suggesting the up move in price is...

Skipper86

There's a descending triangle forming on the DXY chart. It's something to keep an eye on.

Skipper86

DISH has closed above moving averages of importance such as the 20-day, 50-day, and 9-week SMAs with the 20wk SMA 16% overhead. Short interest is 22.75% which is fairly substantial and can initiate a short squeeze. Anything over 10% has short squeeze potential. The P/E ratio is 2.058 which gives the share price plenty of room to grow. I don’t follow this...

Skipper86

Snap has broken above all major daily, weekly, and monthly moving averages with the exception of the 20month which is about 75% higher than the current price. The Bollinger Band Bandwidth is at a 19-month low which is a precursor to a volatility squeeze. Accumulation/Distribution and On Balance Volume suggest upside breakout of current June sideways range. ...

Skipper86

AAPL generally does quite well after putting in a new ATH after a correction, as it has done this month. Targeting 255 minimum by August of 2024 with this idea. Please feel free to ask questions.

Skipper86

The S&P no longer has the same level of weakness it did in 2000 and 2008 and here's why: In 2000, price stayed below the 50-week sma for a duration of 66 weeks in a row before closing above it. In 2008, it stayed below for 53 weeks in a row before closing above it. In 2022, it only stayed below it for 34 weeks in a row. This inability to stay below the sma...

Skipper86

Corn has dropped below the 100, 20, and 9-week simple moving averages, all of which have rolled over to have negative slopes. The most notable is the 100sma. When it has a positive slope, it appears to act as support, but once the slope turns negative, price can go vertically down as it did in 2013. Another noteworthy item is the 45 week time span from peak to...

Skipper86

This diagram helps visualize the effects of overtrading. Overtrading is placing more trades than should be placed, typically resulting in unnecessary losses. There is a fixed number of trade setups that will occur with any trading system during any time period and ideally each trade setup will be traded to produce maximal profits. In general, trades that are...

Skipper86

Gold is respecting the 300-day simple moving average as of late. We just put in a double bottom which tagged it twice after the Silicon Valley Bank Failure which can serve as a catalyst for further upside in the week ahead. Similarities between the current situation and the situation before the big run up which began in 2019 are highlighted using 300-day...

Skipper86 Updated 

Hear ye hear ye! Thy SPY chart needeth to drop down to 300. Okay, enough of that. SPY is likely headed down from here and here’s why: For starters, the weekly MACD has had a signal cross failure which is something I’ve been on the look out for since May per the linked idea below. This MACD red alert following on the heels of a head and shoulders with a...

Skipper86

The green channels show the inverse H&S price objective, the green dotted line shows the broken uptrend, and the red line shows a previous resistance level. The upside target is at the confluence of the three at 265.45 in mid-March. The P/E ratio is looking extended and supports a downside move at the resistance. I don’t have a downside target or even a trade...

Skipper86

Soybean short swing trade: The Bollinger Bands width has narrowed to 2.56% of price which is a level not seen in over a year. A new 6-month or greater low in bandwidth indicates that a volatility squeeze breakout is likely upon us. Similar volatility squeeze situations exist in wheat and corn but they both broke to the downside significantly last week. Wheat...