UnknownUnicorn13101

UnknownUnicorn13101

Months ago I predicted that SPY would finish the year at the level of performance of the opening month of January 2023. That would be 412.20 (February 2 pivot high), which would be 8.99% performance for the year. I still see SPY hitting that level, but according to my chart, that may occur earlier. I have October 30 as a current target, which leaves the rest of...

UnknownUnicorn13101

Even though MSFT is oversold on the Daily RSI(9), and is at a pivot, it has made a lower low, so I don't believe the selling is yet over. I believe one could find a better entry at the green dashed line (Gann confluence area and support) or better yet the bottom dashed line near Black D (volume profile apex and support and 50% retrace off recent high). Going...

UnknownUnicorn13101

XLK is about 27% of SPY. The line in the sand is 162.94. Set an alert, if it drops below into the yellow box, it's a fast descent below.

UnknownUnicorn13101

105.673 Is a key Gann confluence, as well as a key pivot set in March. It either breaks through this, or it rejects -- soon. RSI (yellow highlight) shows that it is strongly trending, and I say the trend is your friend, until it isn't. Remains to be seen.

UnknownUnicorn13101

I'm expecting a trek along that yellow ellipse, with some zags in between. This is an 8/1 Gann ray squared from February 2016 to all time high. Broadening wedge. Target is 420.76, which is also 50% retrace show on prior Daily chart, the red support of the Ichimoku cloud, and low volume node.

UnknownUnicorn13101

I am expecting a bounce early next week, RSI(9) is oversold and at a bounce point like the past two instances on this chart. However, selling was relentless on Friday, with no sign of covering at days end. So, it’s likely Monday AM will begin in the red. There is no significant economic news on Monday, although the general climate is negative with budget talk and...

UnknownUnicorn13101

The problem with SMH: Today is attempting some recovery off Fridays big red candle with what has potential to be a piercing candle, but needs to clear at today's close above Friday's pivot at 147.84 to offer any hope. The test is label B, at 143.35. Bulls will want this to hold, or it will be a fast trek down from there. 9/21/23 will be a key day, if the...

UnknownUnicorn13101

The problem with AAPL. I would look for long entry perhaps around 170, but would assess at that point.

UnknownUnicorn13101

We have a double bottom breakout and currently consolidating at the apex of the "W" (circles). On its way to challenging the prior pivot high at 84.04 and all time high at 85.86. From there, it's free sailing.

UnknownUnicorn13101

ALB “Albemarle said Tuesday it has secured a $90 million grant from the US Department of Defense to support the reopening of its lithium mine in Kings Mountain, North Carolina.” (9/12/23) 48.4% upside (finbox models) 4.5% Free cash flow yield (prefer greater than 7%) Piotroski Score 7 (excellent) 24.1 % return on invested capital (excellent) consistent earnings...

UnknownUnicorn13101

STM Has been adhering wildly well inside the regression channels. I would put an entry around 40.12 or 38% retrace and set a target around D or 52, for a return of 29.6%. 38% retrace is at the top of the red cloud, and at a volume base. This target entry may not be reached, should we see a bounce off the 52 week EMA. However, I see considerable weakness in...

UnknownUnicorn13101

ELV (formerly Anthem Healthcare) Bottom to bottom cycles running around 15 bars, or 105 days. Up cycle running approximately 5 bars or 33 days for 77 to 79 points. Strategy: ELV is under declining 52 week EMA, and under the Ichy cloud. Nevertheless, excellent fundamentals make this a good swing candidate convertible to a potential long hold. I would hope for...

UnknownUnicorn13101

IBKR 20.78 % ROE 36.4% upside from 9/15 close (Finbox Models) 9% Free cash flow yield High quality earnings Piotroski Score 8 (excellent) Sloan Ratio -2.6% (excellent income quality, no problem with accruals) Debt/Equity 82.51% (Schwab is over 200%) Cautions: missed last two earnings 3 Analysts have recently revised downward earnings estimates Insider...

UnknownUnicorn13101

Is extended. Due for a pullback. Trend Line goes back to April 2009.

UnknownUnicorn13101

If you like fractals, you will love this. Ratio of SMH to SPY shows a possibility of repeating an earlier fractal where there is a big drop in the SMH compared to SPY (SMH/SPY ratio). As with any ratio, one needs to gauge the action of the numerator as well as the denominator. So, either SMH declines faster than SPY, or SPY increases faster than SMH...

UnknownUnicorn13101

Big gap drops SMH to a key Gann area (upper red dashed line) for a 50% retrace on the ABCD. Could bounce here, at the APEX of the volume profile (not shown) although RSI (9) looks very bearish with downtrend below 50. SMH being held up by a few big names, I am looking for a retrace closer to the bottom dashed line, or somewhere around the 61.8 % ABCD retrace.

UnknownUnicorn13101

This is the same chart I posted on 9/5, and it has played out well. On 9/7 we had a 50% retrace and hit target D, bouncing slightly on Friday to close at 445.52. Progression along the upward arrow on Monday would be very bullish, and it is very possible given the lightened up volume profile upwards along the arrow. However, I am seeing a downward bias for...

UnknownUnicorn13101

I consider this a leading/coincident indicator. As long as the Baltic Dry Index is in a strong down channel, we can conclude that world commerce is contracting. I would not be overly optimistic about markets until this indicator shows signs of reversing down trend.