Auguraltrader

Auguraltrader

An update to the earlier SOXL post... Previously identified as a potential, in what appeared to be a really nice technical wedge breakout. And there is more, much more as a reader gave some heads-up about the semiconductor bill. Techncially, SOXL has been bullish, but is also susceptible to strong retracements, which took place over the week that just passed....

Auguraltrader

Quick note that the GDX is finally recovering. After about 8 weeks, and a consolidation range, the GDX appears to be recovering with a nice gap up on the weekly chart. Technical indicators are turning up, and the daily chart would be testing the 55EMA soon... 29 appears to be a very strong resistance to break.

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Reviewing the Crude price action, and it appears weaker than stronger, after its retracement. At this point, the weekly chart is struggling to stay above the 55EMA, but technicals are showing strong weakness that would pull prices lower, and below the 55EMA in the coming weeks. A hint that this is the case comes from the candlestick of the week that just closed....

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It is as clear as daylight, that the SPY is very bullish. The weekly chart closed the week at the very top of the candle, and more importantly above the 55EMA (about the same as the 200 daily SMA), clocking in a new recent higher high. Technical indicators appear to be supportive with MACD crossing over into bull territory. The daily chart shows the mid- to...

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LOOKSUSD looks like it is about to break out... MACD bullish divergence about to crossover, and a imminent triangle breakout appears to be set in place as it nears the apex. Watch for a failure breakdown too, still possible. For now, leaning towards a breakout 70:30.

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It has been a really long time since GXC was updated. Previously, an imminent breakout was expected, but it failed, in an epic fashion, to find itself the bottom support of the triangle. Has it bottomed out and ready for a bounce? Early game, but just want to put in the observation that it might bounce for the next attempt to breakout of the triangle. The weeks...

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So... Crude appears to have kaput and broke down quite a bit. Changed outlook, and the triangle has been readjusted and immediate target at 84 for the week ahead; and lower to 70 if the downside momentum continues. With the long weekly candles (momentum), slicing through the weekly 55EMA, breaking down the support ranges, and alignment between the weekly and...

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The NASDAQ just about reached the weekly 55EMA and retraced slightly . It cleared the 13K resistance and 13.2K resistance as well. Still bullish in the weekly technical indicators. The daily chart breaks down the week, with a early week pull back and some volatility and a weak retest of the gap; and then the mid-week bullish spike to break 13K. These were...

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APECOIN ( APEUSD or APEPERP) appears to have broken out of its second consolidation. The Weekly chart is a tad limited, but observable that it is less than a quarter from the high. Also noted that it recently made a significant dip to almost 3, and consolidated. The Daily chart shows more intricacy with consolidation triangle broken out of on 18 July at about...

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Given the tensions building up in Northeast Asia right now, it set me wondering if a rise in volatility just might thwart a very nice possible recovery and plummet us into the next bear leg. Being the devil's advocate on this idea, I wiped out the drawings on the SPY chart, and looked at only a "worst case scenario" or at least a "bear case scenario". Note that...

Auguraltrader Updated 

Rushing this out before market opens... The VIX index is rather special (to me) and it is not feasible to use usual technical analysis on that chart IMHO. So, I use the VXX (VIX ETN) for a better idea when volatility spikes might occur. Am observing one just now with an apparent alignment of weekly adn daily factors in the charts. On the weekly chart, noted...

Auguraltrader Updated 

Previously heads up, and with some very interesting feedback from NickQuick7 about the semiconductor Bill passed by Senate, SOXL continues to be of high interest in the watchlist. The past three trading sessions have rebounded from the daily 62% retracement level, and is projected to move further to 23.50. In the bigger picture, a target for 33 is...

Auguraltrader Updated 

This came up on my screener... ENPH Reading abotut it was intriguing as this was interesting as it develops, manufactures, and sells solar microinverters, energy monitoring software, and battery storage products. Given the expected surge of crude after the current retracement, and the sustainability trend, I find ENPH intriguingly positioned. Technicals flagged...

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Crude Oil futures appear to be facing some resistance about 100. It is clear that the 95 support level has been holding well, especially when the weekly 55EMA meets price at the bottom of the triangle. Daily chart tested 100 resistance to fail but technical indicators suggest that there should be more breakouts but not before some more consolidation. Wait for it.

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As heads up weeks ago, now it is clear that the consequent market action is bullish. The weekly chart clearly showed the consolidation in June, and the robust breakout in July, with a strong bullish looking candle (nice lower tail and close very near at the top) to end the week. Technical indicators are aligned with momentum. 13K resistance should be tested, and...

Auguraltrader Updated 

A special today... I just saw this and thought it was a good opportunity to show how I use Fibonacci and geometric symmetry to help do some projections. Here are the steps for the SPY hourly charts currently... 1. Draw a Fibo retracement from the last high (22/7) to the last low (22/7) 2. Note that the rebound (currently) only got to the 0.5 (50%) Fibo...

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Looking at the USD futures, and interesting picture is starting to prevail... The weekly chart is heading to a lower USD in the next couple of weeks. and to resume uptrend, it needs to reclaim above the green resistance line, which is unlikely at current status. RPM and MACD are burnt out and crossed down to a moderation in the coming weeks. The daily chart...

Auguraltrader Updated 

Special session here as I noted that almost all my daily chart alerts went off. BTCUSD - Break up rally! Technical indicators are favourable. Likely to continue. ETHUSD - Break up rally! Technical indicators are favourable. Likely to continue. Possible retracement to interim support as ETH has been leading this rally. SOLUSD - A favourite. Just broked above the...