Long

MOASS: Match Lighting

Ok lets recap our main targets and ideas for MOASS:

Target Price: 1800-2400 w/ major potential for pockets of trades to execute at much higher
levels

Duration: Oct 2024 - July 2025 w/ a major move to new all time highs taking place between Oct and Feb

Key Date: Oct 21st 2024 should see volume and short volume begin to increase

VWAPs are the key and price will be supported by VWAP all the way to MOASS conclusion

What now?

The main data point that we are watching like a hawk is SHORT VOLUME

Increasing short volume is the MAIN indicator that will signal both the START and END of MOASS

When you see short volume RAPIDLY INCREASING during MOASS it means that they have lost control of price and are desperately trying to short it down

You will see that DECREASING short volume will always signal a current or imminent decrease in buying pressure..although because of the nature of a squeeze that may not always translate into a decline in price

So now we wait....

M O A S S

Note

Morning!

Casino will open soon

Ok today is the day we have been calling for

No we are not saying moon today

But we are saying from this point on we should begin to look for an imminent, distinct and steady rise in volume, short volume and volatility

Short volume levels are the key!

M O A S S

Note

Ok should see a bottom forming around here

Time to get moving

Note

Ok slight tweaks based on the marginal push lower

Note

This price action gives us a good example to show how we use elliott wave

As we always say if price moves thru a target area we just look to the next fibs as support/resistance

In this case if the called out support breaks we would look for price to target and bottom at the 1.618 below and then bounce

Note

Here we go...

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And thats a wrap!

GME pulled back further and seems to be affected by XRT selling

No sweat though as nothing has changed with our call overall

GME is simply further filling out the Leading Diagonal pattern that we have tracking and talking about

We should see that bottom form, probably tomorrow it looks like and from there we should target the 1.236 fib extension which is typical of diagonals

M O A S S

Note

Couple of ways to identify that you may dealing with a diagonal price structure

Moves develop into 3 wave overlapping structures
Wave 4 will overlap Wave 1

So based on those facts then we are expecting price structure to shape up like so over the next week or so

Note

Morning!

Casino will be open shortly

As long as we dont break support the diagonal pattern will be the structure we are watching for

If it does break it will invalidate the pattern and the count will be tweaked but the structure overall is still very much bullish

M O A S S

Note

Ok lets see if the bottom is in

Note

XRT close to bottoming..and btw it is also filling out what we think is a leading diagonal..not a coincidence.

This next move up in XRT will be part of the fuel that drives GME higher

Note

XRT is trying to find a bottom and conversely GME is too

Note

And thats a wrap!

Looks like GME has put in a bottom right at support

Pretty sure at this point the leading diagonal we have been pointing to will play out from here....right in line with our call that this week would see price start to move more

As long as support holds we are on our way

M O A S S

Note

Morning!

Casino will be open soon

Nothing much to immediately add

Its looking like the bottom may be in and if so we predict GME may never see these current levels again

Lets see if support holds

Chart above works for now

M O A S S

Note

GET READY!

Note

Price pushed a little deeper but changes nothing

Note

Algos rode the back of the broader market weakness and pushed things down a bit

We broke yesterdays low so need to adjust accordingly

But nothings changed folks...

Note

XRT/SPX taking their sweet time bottoming which has been dragging us down

Adjusting things accordingly but as we have been saying for weeks now the next major targets are 25 then 28

Note

And thats a wrap!

Super interesting day from a technical analysis perspective (if you cant tell we LOVE this stuff)!

At this point none of this price action changed where we are heading..it changed HOW we get there a bit

The 25 level is up next folks!

M O A S S

Note

Morning!

Casino will be open soon

Not much to add at this point other than we definitely think we are headed to 25..sooner than later

Lets see if XRT/SPX start to show some bullishness today...if so we should see some movement in GME

Chart above works for now

M O A S S

Note

Oh forgot we did want to show you one additional thing this morning

The volume profile corresponds to the price in the big box

Based on the volume is GME bullish or bearish?

I think we see the answer

Note

And thats a wrap!

Quiet day but good day today

Price is working its way out of the bottom support and par for the course yet ANOTHER diagonal is developing..got love GME man lol

Should continue our trek higher tomorrow

M O A S S

Note

Morning!

Casino will be open shortly

Nothing much to add other than we expect GME to continue higher

As always watching for breaks of highs/lows and increases in volume

Chart above works for now

M O A S S

Note

Ok as we said we expected some good movement to start this week

Lets see if it continues

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Lets be a little more specific with the targets

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Elliott Wave for the win

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Ok one small push lower left it looks like

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Ok that should be it as far as this push lower

Was thinking that since we extended a little higher than idealized on that move up that we wouldnt pull back as deep...but it did lol..gotta love GME man

But hey we told you things would start to get spicy after Oct 21 lol

Note

And thats a wrap!

One word: GAMETIME

This is a text book leading diagonal

This is exactly the type of price action we were hoping for this week

Mark these words down: 20.35 level (this weeks low) will not be broken again for years if ever

We know thats a heck of statement but its going to take some SERIOUS work by the shorts to breach that level again

ITS TIME PEOPLE

M O A S S

Note

BTW- when you look at the chart above notice the distinct shift in price action this week starting on the 21st

Notice how price started to reach higher? Exactly

We will cover a lot more in our weekend update

Note

Diagonals naturally come with deep retracements

Expect us to run to complete Wave 5 early in the week and then price is going to get pushed down in a deep corrective move..

After that retracement completes we should move quickly through the 22 level and then on to 25

M O A S S

Heartbeat_Trading

Also on:

Related publications

Gamestop- Idiosynchratic Systemic Risk

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MOASS: How Will We Know Its Over

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Heartbeat_Trading

Also on:

Related publications

Gamestop- Idiosynchratic Systemic Risk

by Heartbeat_Trading

MOASS: How Will We Know Its Over

by Heartbeat_Trading