Let me start by saying that I still do not think the 20 Week Cycle Theory has been invalidated
We are only a couple weeks in on what is again a 20 WEEK CYCLE
With that in mind based on the cycle view displayed, at this point, I have to assume this cycle will be similar to the last cycles in that the price appreciation should take place aligned with the GREEN vertical lines...which corresponds with the end of July/ beginning of Aug timeframe
The question is what does the price action look like in the meantime?
A lot of that depends on what the broader market looks like and what levels hold on GME
I do not have a crystal ball
For what its worth I have additional buys set to trigger at 21.50 and 22 with a tight stop loss in case of any moves lower
Ok now lets talk momentum
GME is obviously vary volatile and extremely beholden to the options market
I have been working for months behind the scenes on fine tuning my custom indicators to provide a stable view of increases/ decreases in momentum..and have now reached that point
On the below indicator view , generally speaking, if all 3 Histograms are GREEN and ABOVE the ZERO LINE then price is showing HIGH BULLISH MOMENTUM...and vice versa for Selling Momentum
So with that said as you see GME is still showing a lot of weakness and until we see the bullishness conditions mentioned above I expect price action to be somewhat muted
GOOD TRADING TO YOU ALL
We are only a couple weeks in on what is again a 20 WEEK CYCLE
With that in mind based on the cycle view displayed, at this point, I have to assume this cycle will be similar to the last cycles in that the price appreciation should take place aligned with the GREEN vertical lines...which corresponds with the end of July/ beginning of Aug timeframe
The question is what does the price action look like in the meantime?
A lot of that depends on what the broader market looks like and what levels hold on GME
I do not have a crystal ball
For what its worth I have additional buys set to trigger at 21.50 and 22 with a tight stop loss in case of any moves lower
Ok now lets talk momentum
GME is obviously vary volatile and extremely beholden to the options market
I have been working for months behind the scenes on fine tuning my custom indicators to provide a stable view of increases/ decreases in momentum..and have now reached that point
On the below indicator view , generally speaking, if all 3 Histograms are GREEN and ABOVE the ZERO LINE then price is showing HIGH BULLISH MOMENTUM...and vice versa for Selling Momentum
So with that said as you see GME is still showing a lot of weakness and until we see the bullishness conditions mentioned above I expect price action to be somewhat muted
GOOD TRADING TO YOU ALL
Trade active
Trade closed: target reached
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Morning!Casino will be open soon
All eyes on broader markets right now
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And thats a wrapVolatility picking across the market and GME is no exception
Lets see what the rest of the week brings
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Morning!Casino will be open soon
Lets see what we get today
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And thats a wrap!Volatility is about to pick up across the broad markets
Stay on your toes
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Morning!Casino will be open soon
Broader market near new ATHs but VOLATILITY is OTW from what I can tell
Lets see how that affects GME
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And thats a wrap!In typical GME/Diagonal fashion price action is extremely overlapping right now
I dont anticipate that changing any time soon unfortunately
Like you im just along for the ride
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Morning!Casino will be open shortly
Markets inching towards new all time highs..im on HIGH ALERT for a break lower on SPX/XLF
If/when that happens the question then becomes what levels does GME hold..21.54 is what im watching closely
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Need to break and hold the 24 level or we likely head lowerNote
And thats a wrap!So some decent movement higher inline with the broader market but we really need that 24 level to hold
Lets see what we get rest of the month
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Indicator check:When ALL 3 Histograms are ABOVE the ZERO line and GREEN...LOOK OUT
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Morning!Casino will open soon
Take a look at this SPY chart.
July will most likely see the start of that C wave lower
Jul-Sep will VERY LIKELY be UGLY for markets
The question is will we see positive or negative BETA with GME and Markets
Buckle TF UP people as its about to get VOLATILE
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Added a fourth version of the indicator to the stack to show a YEARLY view of buying/selling momentumNote
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And thats a wrap!Well VOLATILITY is on the menu
JULY will be intense...get ready
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.