MikeMM

MikeMM

Uptrend has commenced and we have barely begun. Generally inflation has 3 waves, and we have had our first. Rates are only up from here. Next stop is 10% ish and a 618 retrace. Wishing for 5% to be terminal rate was a joke.

MikeMM Updated 

The idea is that the bearish bat would be completed, and we would mark down to the take profits which are marked. Deliveries would cause the gap up. if there is no gap up then we have a potential gartley already completed.

MikeMM Updated 

So this is idea #2. Potentially what a next cycle of successfull innovation could bring. As opposed to my first idea on tesla, which points for lower stock price, and failed innovation. Simply put, we are in a consolidation. Break up or down will be dependent on tesla innovation, or failure. Until consolidation ends, you could use it to position yourself. if...

MikeMM

Another failed low, only way to interpret this is that were going to try for a new high. Failed bearish Breakdowns Have Concequences. I suspect the rise in dollar will be due to the fed raising rates to 10- then 15 then 20% over time. Once wave 2 of inflation hits there will be no choice, and it will be worse politically than letting stock market crash (which...

MikeMM

And not looking to cause any pain before an election, I am standing firm with my assessment that a second wave of inflation is going to occur, due to the severely low interest rates. Send rates to 15-20% to change my mind.

MikeMM

Although majority of folks are looking for very lofty numbers, like 100,000 or 1,000,000.... My thought is that we head toward an 886 retracement. This 886 is also a CME gap. RSI looks similar too prior corrections, and the top formation also looks similar. If an ETF couldnt break it to new highs, what can? I will re-asses at 20k, where it may be wise to take...

MikeMM

Looking for significant correction to occur here. theres a bit of wiggle room it can go up a bit further, as the shark is not technically complete on the spx, only the futures. Bearish divergences in the indicators are apparent as well.

MikeMM

Bearish Divergences on the MACD and RSI, Shark Harmonic complete, Tweezer top, correction? My bet is yes. The zone you could expect it to go to is the highlighted box. anything there is fair game. my guess would be at least to the .618 fib. Will keep watching, tomorrow is a big day I think.

MikeMM Updated 

This is the last shot at calling a top for this resilient infuriating stock. If this doesn't work, then I have no idea what will. Monthly MACD has Bear divergence, which can help the case here.

MikeMM Updated 

I labelled everything in the chart, its a good enough description. Looking for MUCH higher prices, this has been an accumulation of a lifetime.

MikeMM Updated 

looking here we can see that there is a weekly bullish engulfing candle after support was held yet again, thinking this is a rising accumulation. Maybe we get a pullback to 30-50% of the bullish engulfing candle before more up? that would be a good entry IMO. I like this one, even though there's not really any divergences on the MACD. I will check if there is on...

MikeMM Updated 

tHIS BABY HAS BOTTOMED AND ALSO PROVIDED a type 2 return on the mini shark... If we go any lower than the recent low then it is all invalidated.

MikeMM Updated 

Such a clean double bottom at the pattern completion of a shark... it would look super duper. Need to keep an eye on this. i think its a long term gem.

MikeMM

Nobody wanted to buy it at 35-50. Now everyone and their mom wants to buy it at 115. charts showing 300+, bullish at the top of a range. Send it to 35, maybe take a stab at it there, again, when no1 else will touch it. Indicators clearly overbought, M shape in the making on price action.

MikeMM Updated 

If we look on the daily it is currently forming a doji. Will update when the day ends. Do not want to go below the support line here obviously. If this is the bottom, then welcome to wave 3.

MikeMM Updated 

The only question I have, is if were going to break above or below the channel when the time comes. There are a couple of charts I want to post in the updates after this to explain why I think we break to the upside.

MikeMM

Looking for the end of this scam pump. It has to happen though, because markets will not go straight down. So anyway, were at a 382 retrace, and a trendline resistance. We have bearish divergence on MACD and we have over bought on the RSI All weekly timeframe. Dont be surprised if this is the peak for a long long time> Sentiment on twitter is atrocious....

MikeMM Updated 

Regardless of earnings tomorrow, stock goes down. I would imagine the earnings will be great, which will provide a ton of exit liquidity to the makers of this market. Anyway, this candlestick pattern is called DARK CLOUD COVER. the context here is fantastic, I feel very confident in this outcome. How low does she go? lets figure that out later. This reminds...