TradersForecast

TradersForecast

SPY continued up more than I expected but now there are multiple bearish pitchfork signs on the weekly chart.

TradersForecast Updated 

I drew these pitchfork lines before Oct. 15, 2023 when I posted my last SPY idea, titled "SPY: strong bullish pitchfork analysis" (see related idea below). At that time SPY was 427.48. Now it's 470.80. SPY reached the top pitchfork line that I drew back in Oct. 15 last year and is at this time expected to fall further.

TradersForecast Updated 

SPY reached the middle of one pitchfork and the bottom of another pitchfork. From here, it looks up. This is based on technicals only and fundamentals may obviously affect the market beyond that.

TradersForecast Updated 

SPY reached the top of a couple of pitchfork lines and has been lingering at the bottom of another ready to break out on the downside. RSI is also in a downtrend channel.

TradersForecast

SPY fell as I predicted in the related idea. It followed exactly the RSI channel that I drew when I posted my earlier idea (yes, I didnt' draw it now but before SPY fell, on Sept. 11, 2023, when SPY was 448.38). SPY now looks ready for reversal (given the price reaching lower pitchfork lines and RSI reaching the bottom of the channel). Additionally, I have my...

TradersForecast Updated 

RSI is in downward channel and it also formed a head-and-shoulder pattern. I expect a significant fall of SPY on Monday, August 28, 2023.

TradersForecast Updated 

Did you ever feel like you missed out on NVDA? Don't worry, you can make up for some of that and ride the price on its way down (aka, short selling or put options). The bear is coming for the market this week and it's going to ravish the tech. NVDA price is at a pitchfork resistance level and so is its RSI. Additionally see the divergence between the price highs...

TradersForecast Updated 

RSI on daily SPY is in a downward channel. I expect RSI to fall next week.

TradersForecast Updated 

NRGD price reached a support level and its RSI reached a support ptichfork line. Expecting it to go up tomorrow.

TradersForecast Updated 

NRGU reached support pitchfork lines both on daily and weekly and is likely to bounce up.

TradersForecast Updated 

On the weekly chart SPY is close to some resistance pitchfork lines and the RSI is approximately in divergence with the price (the price high although lower then the earlier high it's still high relative to how the RSI high is in relation to the earlier one). On the daily chart the price is close to resistance pitchfork lines and the the RSI reached a resistance...

TradersForecast Updated 

On both weekly and daily: 1. NVDA reached some pitchfork resistance lines 2. There is a divergence between the price and RSI This makes it likely that NVDA will fall.

TradersForecast Updated 

BOIL price fell 98% but the technicals (particularly analysis of pitchfork lines) indicate that BOIL is a good buy opportunity.

TradersForecast Updated 

MSFT reached a high pitchfork line and the RSI and the price are diverging which is a bearish setup.

TradersForecast Updated 

My previous TSLA idea (see related ideas) was bearish and TSLA went down ~16% (over 20% based on yesterday's close, I expected market to be up today, see related SPY idea). My TSLA idea before that (again, see related ideas) was bullish and TSLA went up 54%. Now TSLA looks bullish again based on pitchfork analysis, particularly on weekly chart.

TradersForecast Updated 

Based on pitchfork analysis it looks like TSLA has run it's course and it's ready to fall. This looks to be the case both on daily and weekly charts. See my previous ideas on TSLA which consistently predicted its course.

TradersForecast

META reached the middle red pitchfork line while the RSI is overbought and in divergence with the price. This indicates a bearish setup.

TradersForecast

SPY reached double pitchfork resistance levels (2 different pitchfork lines intersecting close to the point where price reached), both on daily and weekly. RSI on weekly also reached a pitchfork resistance line. This gives a good probability that SPY will take a down turn soon.