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I believe that SPX has already broke out of its respective downward channel, and now is attempting to retest the upper bound of the channel it broke out from. Volatility index plotted below has already broke downwards of its respective trend line, and with breakouts, we often see a retests of levels it broke out of. VIX near 20 may in fact indicate a short term...

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As my previous post mentioned, GME was basing at the top of its channel, for resistance to act as new support. Retest seems successful, looking for volume confirmation and strong close today.

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Simple chart, downward channel for GME has slightly broke out this week, retesting the top of the channel to see if this can act as support now. A daily close above this channel with continued volume would potentially mean a continuation of a breakout. When breakouts from channels occur, we often see a retest of the breakout area which I refer to as "basing"....

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Breakout similar to AMC's, seeing in volume can continue to confirm a move out of this range.

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AMC breaking out of its downward channel and looking for daily support green candle on the upper resistance trend line, some volume confirmation and green open on monday could confirm a move higher. First target $24 if breakout is sustained based on fibonacci retracements.

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Really solid example of how channel breakouts often retest resistance AFTER resistance has already been broken. I like to think of it as testing the buyers and supply/demand zone to see if resistance can now act as support which would confirm another leg up as we see in Uber. Good rule to follow is to not enter trades as soon as they breakout from a channel as...

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Depending on the markets reaction to AMD's earnings after the close today, we could see AMD show confirmation of a breakout from this downwards channel. Relative strength sitting at resistance levels in respect to historical "tops", looking to see if a breakout in relative strength can also provide confirmation after ER. Directional movement also positive....

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Despite being positive on the day, we saw earlier price get rejected on the upper resistance trend line of our longer term downward channel. The gap up today was interesting, but I am curious to see how this plays out following the Fed decision. Since we have been declining from ATH's, this upper resistance trend line has shown multiple instances of rapid downward...

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PFE consolidation with a symmetrical triangle currently looking like it may break through its upper trend line. With atleast a day or two breaking above, as well as closing, above the upper trend line, it may run towards 58-60. OBV rising with price momentum upwards, combined with a recent reversal into ADX+ (positive directional movement) may confirm this going...

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Updated wave theory potential path for SPX, including a recent addition which is a pennant that was formed in order to fill the gap from June 10ths decline.

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SPX Forming a bearish pennant that is setting up the market for its final corrective wave within the elliot wave theory cycle. Best case scenario is 3500 level, worst is near 3200. I think that this final corrective wave will not be a slow and steady decline. Looking for Primary wave cycle Y to get fulfilled.

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As my previous post regarding wave theory analysis of SPX, it seems that impulse wave defined by B (White Secondary Cycle) has seemingly reached its peak. My analysis is inferring a "Double ZigZag" corrective pattern following the end of our primary cycle represented by Yellow path. Double ZigZags typically retrace anywhere from 0.50 to 0.79 Fib levels in...

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SPX Post-Covid 2020 correction during March lows, 5-Sequence Impulse wave followed by a corrective wave. Model with a 1D Chart fit through wave sequences. 5-Wave Impulse Sequence completed Dec. 21 - Jan 22. "Ending Diagonal in a Bull Market" forms within the final primary wave sequence. (Wave 5 Yellow) 5 Wave corrective sequence (Waves 1-5 Blue) to find our...

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AMC forming a nice bull flag on the 1D chart that I have been watching for a while. RSI on a 1D chart looking bullish IMO with an upward trend in RSI since January of this year. MACD Divergence and consolidation occurring on a 4HR chart, also giving me confidence of a significant move incoming. ADX & DI contractions are healthy signs especially considering we have...

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CLNE priming a bullish pennant, most likely consolidating for a move towards $13 IMO.

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As you can see, we are seeing what is called pinning, which is when contracts with highest open interest, with their respective strikes, tend to cause a security to gravitate towards those levels near expiration, with contracts on friday not having to be exercised or assigned until monday at 5:30 PM, I see a lot of volatility coming our way. Nikkei down nearly 4%...

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This is going to be longer than usual because there are a lot things I found going on in our current market condition, as well as reasons to explain why the accelerated sell off occurred on Friday. I will discuss inflation, key ratios within the S&P 500, quadruple witching day, options flow, Meme Stocks, and psychological factors. I hope this helps show direction...

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SPY was rejected at a key level that would have indicated a short term reversal near the 422.85 level. I expect this to retest 419 being the next support level which we touched yesterday. Using the GANN Fan as potential paths of resistace, we can see how it following the downtrend accordingly. This is shorter term view on SPY, if you're looking for longer term...