njscipione

njscipione

Here’s a 12M chart of the Dow. Before the Great Crash of 1929, the Dow bounced strong off the midline in 1922 before reaching out a peak at the top line of the trend channel, and then making a sharp reversal across the midline straight to the bottom channel, hitting its low in 1932 before the damage was done. Turn the page to the present and the chart is so...

njscipione

The Diamond Top, a major reversal pattern, seems to be just about set on Nasdaq, it is also there on the S&P too. Confirmation upon breakout! It’s beginning to look a lot like Bearmas! Brace yourself and proceed with caution See also my more in depth analysis of the DJI if your interested! Happy Holidays and happy trading!

njscipione

Following the Fed's announcement to double it's taper rate & hinted at interest rates, the market bounced, in a timely fashion to falsely signal the Santa Rally is on. But let's take a closer look, as it appears the chart shows more of a fakeout up and more movement to the downside on the horizon. Key points of analysis are numbered on the chart: 1) Expanding...

njscipione

In the past few weeks, the market appears to be setting up for its strongest rally yet. While bears are not wrong in thinking the market is way overextended, nothing dictates that it has to stop. On the other hand, no we are not headed for the moon. But the market is going to keep reaching new highs until all the bears become bulls. Since 5000 is the most obvious...

njscipione

This week will start green, likely topping around $4800, but we will see a reversal, bearish engulfing bar by week’s end. Great short/inverse ETF trade opportunity coming up

njscipione

Here is an interesting view of Bitcoin, INVERTED, in a monthly timeframe on a logarithmic scale. Forget what you think you know about where Bitcoin is and your future forecast for where it’s headed and look at what the chart is saying when you turn Bitcoin upside down. If you were looking for long opportunities and saw this chart formation, the first image that...

njscipione

On the Logarithmic Monthly View of BTC, we see a trend that appears to be slowing down. It’s rise has decelerated significantly, MACD is about to Batman, and volume is noticeably decreased over the past decade. Or we could be just seeing what will be Viewed later as a breather before breaking out to even higher highs. Add in the obvious contrarian reality to that...

njscipione

The trend is overextended and comparable to previous peaks for oil. Great short opportunity, bullish ambitions for $100 are not going to be realized. It’s possible that we see a fake out continuation to $85 but by the end of the week that will only lead to a bearish engulfing on the weekly, closing under previous week’s low. This setup has a chance for extended...

njscipione

Four charts here, the top 2 showing Binance US reflecting what appears to be a crash and bounce down to 8200 and back up. On the bottom left Coinbase shows only a low of 63800 at the same time and trading view/s chart show a dip to 60746. Bitcoin was not the only one to see what looks like a massive manipulation of Binance US. Others include COMPUSD (dipped to...

njscipione

It’s possible that this correction is really a major top on the S&P500. Confirmation of the reversal to downtrend would seem to follow from a breakout through lower uptrend channel line. On the other hand, a breakout through the upper downtrend line would suggest a continuation of the uptrend. The expanding pattern of the Diamond at the current peak of the...

njscipione

This would be a major top confirmation upon breakout. Otherwise a breakout upward would signal a continuation.