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Your welcome. Thanks for everything you and Matt do!

At this morning’s levels @344.35

Posted by chartboy on 15th of Oct 2020 at 07:07 am

At this morning’s levels @344.35 Wave C also equals 1.618 Wave A. 

SPY currently trading at the

Posted by chartboy on 15th of Oct 2020 at 06:44 am

SPY currently trading at the .382 balance of time and price for this move. 

Here is something else to

Posted by chartboy on 13th of Oct 2020 at 09:21 pm

Here is something else to keep in the back of your head. Log and non log charts. The non-log, especially with Monday’s gap over the line and the habit for island reversals to occur back below the line is particularly notable. 

Gold long term fan lines.

Posted by chartboy on 13th of Oct 2020 at 08:38 pm

Gold long term fan lines. Notice the island reversal created the past three days as we attempted to hold the standard daily fan line. Also, notice how the same pattern has occurred on the log chart at major tops. 

Silver bounced off that balance point earlier and is now balancing again in the opposite direction on a smaller time frame, marking a great exit for +1% gain. 

Now that the gap and

Ready to gap and go tomorrow. 

Posted by chartboy on 13th of Oct 2020 at 12:53 pm

Now that the gap and go has played out...watch silvers reaction to this Fib balance in price and time. At 22.30@

That one was telegraphed!

Ready to gap and go tomorrow. 

Posted by chartboy on 13th of Oct 2020 at 09:40 am

That one was telegraphed!

Ready to gap and go

Posted by chartboy on 12th of Oct 2020 at 04:14 pm

Ready to gap and go tomorrow. 

Breaking away over the obvious...watch

Posted by chartboy on 9th of Oct 2020 at 07:35 am

Breaking away over the obvious...watch the not so obvious magenta, which is the Institutional breakout as opposed to the retail breakout. 

Fyi...One of the best technical analysts on the street put a buy on it yesterday morning. 

That sounds right. Members should always consider that charts are “written” in advance. So, when unexpected news causes an extreme move that effects the charts, probabilities are extremely high the bulk of that move will get “erased” from the chart to reset the chart back to its original state, via reversion to mean trades, in terms of patterns/symmetries, targets, etc. 

Symmetry like this doesnt occur

Posted by chartboy on 7th of Oct 2020 at 08:02 am

Symmetry like this doesnt occur randomly. Especially, after a top that was telegraphed months ahead of time by a measuring gap left open at what was to become the midpoint of the entire move from 2200 to 3600. 

Before making any decisions on volume, make sure you know what you are looking at. In this case 75% of yesterday’s volume appears to be a coordinated trade/trades. They were done as blocks of 4 mil, .5 mil and then 4.5 mil.
Trades of that nature are in no way comparable to the spikes in volume you see everday when thousands of new investors are entering a thinner, speculative security. In fact, I would dismiss the value in that type of volume almost completely. First, because it was likely only one or two buyers and/or one or two sellers. Second, because the type of institution that would do that trade likely is not making any kind of speculative bet solely on the value of the dollar. Instead, it is probably representative of hedging activity in a portfolio worth billions of dollars. 

Gold comments

Posted by chartboy on 23rd of Sep 2020 at 09:54 am

I can tell you that one the most qualified technical analysts I know (if you have been around the market long you would know him by name) was long the Euro into the recent top and has had a standing order to enter a half position short the dollar at these levels.
That is not a specific timing call, but should give some perspective. 

Some what ifs? What if yesterday

Posted by chartboy on 17th of Sep 2020 at 07:49 am

Some what ifs?

What if yesterday was a B wave high?

What if Wave C is symmetrical to Wave A?

Fortunately, with today’s charting technology we know the answer to those questions...here is exactly what it would look like. No, it is not a coincidence that it would leave us at the next (.618) Fib  line. 

As noted earlier, with weak momentum, sitting on a major 50% fib fan line, and with an open gap below, it is a foregone conclusion that SPX gap gets tested/filled. 

What should you be considering? We

Posted by chartboy on 16th of Sep 2020 at 06:18 pm

What should you be considering?

We had a parabolic move and then a correction, which bounced off Demark’s Propulsion Exhaustion Target of 3329 exactly....now that the market has reverted to the mean, the bounce appears to be failing.

There is an open gap to be filled down near 3340.

There is an open gap to be filled near 3260. 

The .236 Fib retracement to the lows is 3257.

We closed on the 50% Fib fan line and will likely fail it just by closing the gap near 3340.

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