andremkv

andremkv

Nothing new here. The likelihood of a sharp pullback is more and more probable. Overall very bullish. Short-term: be careful!!!

andremkv Updated 

I have a few observations on the market from last week and going on to this week. Something to note, I'm looking at the WEEKLY chart and have a longer time horizon. This is very intentional. I want to demonstrate that PRIOR to any major market move, BOTH bulls and bears will get shaken out. It is very naive to assume that you can have a strong directional bias...

andremkv

BACKGROUND: SOXL (3x ETF) created a great reversal pattern back in JUNE - JULY 2022. It's tempting to ignore it because it ultimately failed on 8/26/22. Nonetheless, it was a great technical entry point when the price broke above $17. CURRENT PRICE ACTION: The reason I'm pointing out what happened in JUNE - JULY is because SOXL ETF is forming another BULLISH...

andremkv

Dow Jones Index has showed a monthly signal not seen since 2008. The price action that has currently developed is very similar to the beginning of the 2008 crash. In fact, the next rally (if we get one) can be the final "make or break". See the chart comparison between 2008 and 2022. I'm not a perma-bear nor do I ever like predicting crashes or waiting around...

andremkv

NASDAQ is currently at a major support. What I'm noticing is that it is almost identical price action as happened in June. Nasdaq had a major bounce on 6/15 which was followed by a heavy sell day on 6/16 (very much like today). However it was immediately reversed the following day on 6/17. The breakdown on 6/16 ended up being a big bear trap which ended up...

andremkv

XOP - is in the same type of consolidation it has been TWICE prior to its' current location. It has already bounced off of $114 support level. I'm anticipating the price running to a resistance level of around $180 with a pull back which would launch it THROUGH the $180 level which it hasn't been over since 2015. If current market condition continue running...

andremkv

ETH is currently in the exact same technical setup as back in May of 2018. A lot is different and has changed over the past 4 years. Nonetheless, if history means anything, then this current stalemate can very likely lead to a flush down to $500s…. No a prediction. A mere observation. A lot will be caught off guard buying this dip… See the chart.

andremkv

QQQ is in what looks like a "bear flag". However, buyers came in every time on the flushes. SHORT-TERM: LEANING BULLISH However, this can quickly turn around on any news (or now news) and head to new lows. QQQ is still in a bearish channel (DOMINANT DIRECTION). SEE NOTES ON THE CHART

andremkv

Google appears to have bottomed at a recent support zone that has held numerous time. I know most would identify this pattern as a "bear flag". However, I think keeping an open mind is crucial. Just follow the price. Currently: good chance Google can bounce up to the top of the zone. From thereon, IF the overall market has steam - this stock can squeeze...

andremkv

A great swing idea in a major uranium player. At major support. Looking to for a push higher once the squeeze fires.

andremkv

Brief and simple - GOLD is in a VCP pattern. I won't venture to try to time the breakout out of this. But the key levels to watch are $1830 and ultimately $1900. When above $1900 - GOLD will be a strong buy. However, having come up from ~$1650 bottom, don't be surprised if it retests any key support levels along the way. Obviously, if this thesis doesn't work...

andremkv

Gold has been a painful trade for the past 6 months. The last week has been very heavy on the PM's market overall. Gold is very oversold in the Daily TF and just now put in a bullish divergence (RSI and Squeeze Momentum) on the 2hr TF. I will personally consider the short-term bottom in if/when gold reclaims $1760 level.