DaddySawbucks

DaddySawbucks Updated 

Previous tops characterized by parabolic surge with extreme overbought RSI (arrows). This is the Third Drive; expect another parabolic blowout, followed by an extreme Bearish reaction. This final move will complete a Nenstar pattern and likely usher in a Bear Market for 2021. A measured move from 3230 -> 3630 of 400 pips, extended to upper TL formed by previous...

DaddySawbucks Updated 

Chart says all. June gave us a Baby Bear; Sep/Oct the Mama; and Big Daddy Papa Bear is waking up soon IMO. Expect Strong support around 3400. This is a guess; as the bubble expands, price correction magnitude increases. Geometric modeling projections shown estimated length and price based on extension from Baby > Mama > Papa. Third Drive near completion IMO;...

DaddySawbucks Updated 

Several contributors have proposed Wolfe Models. This move formed a flat pattern rather than a rising channel. This flat emulates a measured move 'flagpole.' We're sitting on the cap at top of flagpole IMO. MFI gone in half, volume sparse. Typical of Wolfe waves is the time elapsed in 1>2 = 3>4, as is clearly seen here. Enjoy the last gasp of this mad...

DaddySawbucks Updated 

Refer to J Murphy, Technical Analysis of the Financial Markets: Fig 4-10a; rejection, return to TL; rejection confirmed: cdn.preterhuman.net See p. 72; and discussion of reversal patterns with diminishing volume pp 103, 107/8; Fig 6.8c with discussion of wedges as reversal pattern, and volume on pp 147-150. All this is THEORY. Trade at your own Risk; GLTA! NB:...

DaddySawbucks

Looking fully valued and real toppy. Set-up for correction IMO. Look at how overbought the indicators! Highest daily volume past week smells like a blow-off IMO. Fascinating ETF, outperformed NQ! Not investing advice; trade at your own risk, or don't trade now at all; GLTA!

DaddySawbucks Updated 

Perhaps 650 pips left in the rally; perhaps not, pure gamble up here IMO; perhaps Monday 12/7 brings exhaustion gap? A final parabolic surge might push index near 31k before it cascades... don't be long when it breaks! Look how the MFI wanes as price creeps up the wedge; a clear EW appeared in the MFI during the November runup. RSI diverges but ofc can still go...

DaddySawbucks

Yes it's a bubble; they burst, but when? Expected this week; surprise! Wedge pointing at 10/11 Dec to terminate; Retrace until 17-21 Dec? ' Going overbought; can get more bought: Money flow lessens, volume less; definitely a pullback in the near future, never know when, eh? Expect exhaustion gap at open Monday IMO. Just an idea, not advice; trade at ur own risk; GLTA!!

DaddySawbucks Updated 

On low volume lift, an exhaustion gap IMO. Money flow weakens, volume lessens, price moved higher on weak internals. Lower soon IMO. GLTA!

DaddySawbucks Updated 

MFI, RSI topping at ATH, Sector rotation out of megacaps is the money flow. Looks like a complete 5-wave EW impulse. Ofc it can still get higher. Odds seem to favor short in near-term. Just an idea, not advice; trade at ur own risk, GLTA!

DaddySawbucks Updated 

Chart says all. Expect pullback to 3390 to fill the gap at the 0.618. Might turn sooner, ofc. "Bearish Nenstar harmonic, cousin to shark, cypher, bat/butterfly patterns; a Gartley variant. Typically the selloff from pattern completion at D is a .50 retracement" Just an idea not advice; trade at your own risk, GLTA!

DaddySawbucks Updated 

All on the chart. Not advice. Trade at ur own risk, GLTA!

DaddySawbucks

Chart says all. Had one of these in 2019. Bulled like crazy afterwards. These waves are brutal trade killers, terrific whipsaw. If this plays out same way as last year, the wriggly worm will slip off the hook at 'Z' and the fish will jump after it...! Short until pivot near 3300 - 3360, then all in long, target 3750 - 3830, based on measured move +560...

DaddySawbucks Updated 

Gonna backtest the TL; if it holds, bears will be disappointed again. If it breaks back under TL, gonna confirm triple top. Alternate path shown goes down to close gap at 3400 and bounce. Just a guess, this is not advice! I posted this as Neutral as it can break either way now. Trade with great caution, ANYTHING is possible here, GLTA!

DaddySawbucks Updated 

Bearish IMO, moving back down soon. Might still get higher Friday; or risk-off EOW, who knows?! 42D cRSI shows the divergence pattern. Rising on weaker price action. Rally likely end at resistance around 3500. Could pump & dump Friday, be ready; on 5 Nov (Guy Fawkes') DJI trades below its 4 Nov peak at 28500; this is a tech rally. Trade at your own risk, this...

DaddySawbucks Updated 

Just a purely speculative idea, not trading advice. Bearish sentiment and high index/ETF P/C ratio of 1.5 suggests might be near bottom in near-term. Economic data is NOT c/w recession; annualized growth 33% was great! If FAANGs deliver, it will move higher IMO. Trade at your own risk; GLTA!

DaddySawbucks Updated 

Chart shows all. IF it goes it will get another 10% IMO, ending around 3750 ish after election. Just an idea, not advice; trade at your own risk!

DaddySawbucks Updated 

See related post and scroll left to see the 1987 markings. Remarkable similarity in time course, periodicity, wave duration, retracement level. Seasonal timing also coincides, correction sequence started exactly a week later, on 3 Sep 20, vs 26 Aug 1987. 19 October is again a Monday! Just an idea, not investing advice; GLTA!

DaddySawbucks Updated 

Near/at the 0.786 with divergent MFI/RSI. Might be a Cup & Handle forming; if so, the Handle typically retraces half the right wall of Cup. Likely to sell within a week IMO. Could double top before it breaks; don't bet the farm yet! Not advice; trade at ur own risk: GLTA!