jbw3e

jbw3e

chad whale parabola correction just in time for dinner

jbw3e

Continuation of last BTC Chart - Latest ES/SPX dump has our 2X H+S (and 2 year triangle) back on the table after a feet dragging melt-up fake out. Fed sugar high wear off, nagging Covid hangover, and poor macro fundamentals (eg unemployment) leading us back down to the neckline. MACD looking bearish for now as well, watching and waiting.

jbw3e Updated 

Declining volume + macro weight. Still short but longer reach on the bounce.

jbw3e

H+S within H+S, recent low volume (with exception of June 2nd Bart fakeout), and macro fundamentals (unemployment claims/Covid crash) is bearish case in my mind. Tech fundamentals, Fed tailwinds, and continued broader market (ES/SPX ) coupling points bullish. Sustained push up out of 2.5 year triangle would strengthen bull case and invalidate double H+S.

jbw3e

Head and Shoulders rejection off massive multi year bull flag resistance due in part to current macro conditions

jbw3e

Macro correction bounce with unwinding flags and wedges in the context of higher timeframe (~4 year cycle) triangles, heading into quantitative hardening. Short to medium term short, net long. Potential opportunity to steal blinds and antes before the money bubble. First chart ever, constructive criticism welcomed.