MrAndroid

MrAndroid

The price of Intel stock hit the top of a parallel channel and got sold off quite rapidly. I see this as evidence of a continuing downtrend for this semiconductor stock.

MrAndroid

One moving average I track is the 50 month. this helps to determine whether there is a very long term bull or bear market. Sometimes stocks react to this MA line. In the case of Amazon it looks like price may be respecting this moving average to the downside which seems bearish for this stock.

MrAndroid

On log scale this monthly chart of Nvidia I can draw a nice channel linking several major lows, the previous all time high and the current price. Could Nvidia's run be about to be interrupted I wonder. Also there is divergence emerging on the RSI indicating a weakening of momentum.

MrAndroid

The huge orange downward channel I have drawn here joins up the two major lows of 2018 and 2020 with the high of 2021. The current SPX price is right at the top of this channel. Not a prediction just an observation.

MrAndroid

These 2 channels show the longer term major lows of the last few years and within that another more recent channel which has formed over the last year. Looking at the fib level as well being right near the golden pocket and that the current price is right at the upper level of the channel I think there is a good case to be made for a significant pullback soon.

MrAndroid

Today the SPY reacted to the precise 0.618 fib retracement level from the top to the recent major low. This could indicate a potential turning point from bullish to bearish here.

MrAndroid

MMM has recently touched the area of previous resistance and the bottom of a parallel channel drawn by connecting the down trend swing highs. It is too early to tell whether this is a genuine trend reversal but it could be one to watch.

MrAndroid

This chart of TLT the long term US treasury bond ETF uses moving averages to attempt to see potential support and resistance. This uses 10 month, 200 day, 100 day and 20 day. My interpretation of this chart is bearish and potentially a good place to short it.

MrAndroid

This chart shows a sideways parallel channel that can be drawn as a long term correction to the bull market of Amazon indicated by the diagonal channel. Mid lines sometimes act as significant lines of support and resistance so a reversal of the recent up trend would be logical at this point.

MrAndroid

The all time high of Apple is in sight. One would expect this to be a significant line of resistance. It will be fascinating to see whether the market can sustain the rally beyond that point. It could be indicative of general market strength or failure to establish above this line could indicate a top.

MrAndroid

Very simple chart showing parallel channel of the UK bond market trending down since the 1980s with the yellow line at 4.2% seeming to be a key line of historic resistance. Back in October 2022 the UK bond market had a severe problem which ultimately led to the resignation of the Prime Minister Liz Truss. The issue was causing pension funds to experience extreme...

MrAndroid

Looking at this chart it does seem to be that there could be a relationship between the yuan and the S&P. The strong bull market since 2020 coincided with a strong Yuan and since then things took a down turn roughly at the same time. The Yuan has recently sharply decreased against the USD.

MrAndroid

Amazon has been trading in a downward sloping channel for over a year now and yesterday the price closed above this channel trendline. However a drill down into the hourly chart shows some divergence on the RSI that I think could indicate that this might become a false breakout. I'm yet to be convinced the rally is a trend shift.

MrAndroid

This chart shows Amazon stock to gold ratio. There is a clear head and shoulders pattern visible however currently there is a potential trend reversal triangle pattern emerging.

MrAndroid

Frustratingly on silver, on a very long term or medium term view I see triangle patterns with no clear direction evident.

MrAndroid

This ETF is a London Stock Exchange version of the gold miners index. I think the long term pattern is a triangle as evidenced by recent bounce down from resistance.

MrAndroid

The last few days the S&P appears to be trading in a range underneath the top of an ascending triangle pattern shown here in yellow. This is a bullish pattern. A confirmed breakout could signal a continuation of the last few month's rally.

MrAndroid

The Japanese stock market topped in 1989 and was in a bear market until 2009 from when we have seen a rally. Could the rally be about to end? One way of drawing it as shown here is a down trend channel using the two major lows of the bear market as point to connect. There is divergence on the RSI.