Here we have a nice example of an inverse head and shoulders bottoming pattern.
Price bottomed right at the August 7th turn date. Breakout soon!
60min Chart
Monday, August 24, 2020
Tuesday, August 18, 2020
$SPX - At Resistance
SPX has reached resistance as expected.
Price has overthrown the blue approximately the same amount as the undercut in March. It probably is not ready for a large decline yet, but it will have some difficulty here at least.
Daily
Saturday, August 8, 2020
SVXY - Flag Formation Reaching Maturity
SVXY has formed a flag. The pattern is nearing maturity.
Once the pattern completes this Fall, it is extremely bearish for SVXY. All markets are increasingly volatile.
Volatility has entered into mega bull market.
Daily
Mega Bull Volatility
Monthly
Wednesday, August 5, 2020
CCL - Carnival Stock it Floats
Cruiseships are one of the last remaining reopening trades. The trade is set to benefit greatly as schools get ready to reopen into September.
It looks excellent for a turn now with a reversal on the weekly bar.
Daily Chart
Subscribe to:
Posts (Atom)