Category

Equities
Bitcoin
20
May

$BTC: Straight Up or Pull Back?

The recent thrust has brought out the bulls once again, and while the overbought conditions on the RSI are bullish over the medium to long term, in the short term I think the price is a little stretched. The 50 day moving average is also presently around the $5800 level, which further increases the probability...
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IWM
13
May

UPDATE: $IWM Russell 2000 Gaps Down Through Support Levels

Today, the Russell gapped down *again* and this time blew through all support. The market is choppy, and without any clear sense of trend, I would be very hesitant to take a bullish or a bearish stance. Better to wait it out and let the market choose the direction.
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IWM 5-09-19
09
May

$IWM Russell 2000 Resting on Heavy Support

Today, IWM gapped down at the open right at 155.52, and pin-pricked swiftly and deeply right through all three levels of support - an alignment of the 50-day moving average, 200-day moving average, and 61.8% Fibonacci retracement - before recovering and closing green on the day (see chart at the very top). The price action...
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1999 Returns
06
May

Rhyming Like Its 1999?

As the S&P500 and Dow Jones press up against all-time highs, market prognosticators are split on whether we should expect a melt down or melt up in equity prices. In a recent interview on RealVision, Kevin Muir of The Macro Tourist and Tony Greer of TGMacro discuss the current market environment and delve into MMT...
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SP500 Divided by Copper
23
Apr

S&P500 vs. Copper Ratio Breaking Out

The S&P500 is trading at all-time highs relative to commodities. The commodities sector is therefore an attractive area to investigate for relative value and the potential for outperformance versus equities. In my research, the most compelling chart is the ratio of the S&P 500 to copper (a.k.a "Doctor Copper").
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16
Apr

$ANSS Ansys Testing All-Time-Highs

I'm watching the engineering software company, Ansys, very closely for a definitive break of the $191 level, which represents the all-time highs from last September. A break here would target the $220-$223 level at the 161.8% Fibonacci retracement.
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15
Apr

$AES Building Base for Push to $20

It has been more than a decade since the share price of AES, one of the leading domestic power companies, hit $18. The price eclipsed the November and December breakout highs with little difficulty before stopping to knock on the 161.8 Fib extension three times.
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12
Apr

$COST Costco Prepping for Move to All-time Highs

As I have stated previously in this space, the most common method of applying Fibonacci retracements is to start at a cycle high and end at the cycle low. However, I ascribe to the Connie Brown methodology of deferring to the secondary highs of a cycle as the starting point for the Fibonacci retracement when...
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Tesla Chart April 9th
08
Apr

$TSLA Tesla Chart Stuck in Wide Range

What I see from the log chart over the past 30 months is that Tesla is trading in a range with big technical swings, depicting an epic price struggle between bulls and bears. Until price moves out of the rectangle above, the chart offers no definitive direction. The 200 day moving average is flat as...
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Analog Devices
23
Mar

$ADI Analog Devices Breaking Out to New All Time Highs

Analog Devices (a company I interned for in '99) is breaking out to new multi-decade highs. The price action is certainly characteristic of bullishness in the stock and in the semiconductors in general. If the new high holds here, ADI could push quickly to the
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