Pennywick

Pennywick

Yhe 10Y Note Yield Gained 4.8% on Friday, topping out at 1.79%. The echoes from the pundits are calling for a return to value as high beta-growth has seen continued pressure, with ARKK leading the declines. NQ1! defended it's 4h Higher low on Friday with a hammer but remains in a 4h Real-Body Bear-Flag. In contrast RTY1! (Russell 2000) and YM1! (Dow Jones...

Pennywick

After all the turmoil of the first 14 days of January SPX is 4.5% away from all-time highs. Opex week next week with this H&S in-play. Resistance for RTY, ES1! and NQ1! currently at the 2 hour 8 EMA.

Pennywick

BTC, as a proxy to Coin, is approaching the 2h LBB after rejecting the neckline of the Daily H&S. The 2h pennant confirmed and was promptly rejected, convergent with two morning wicks off the 2h UBB. The major market sell-off continues to see declines in high multiple stocks, setting up covering plays in the future.

Pennywick

Set-up below the Daily H&S neckline, BTC found resistance at the pennant upper bound with a short framed H&S overnight, recovering into the compression pattern.

Pennywick

The 2h Bull Flag confirmed, with a wick off the H&S neckline. After the bull move broke the 2h UBB, the markets are pulling back, led by Small Caps, in the short term, after the inline CPI.

Pennywick

The 3-Day H&S has confirmed with a shallow break, all eyes turn to CPI and PPI as inflation needs to be persuaded to remain unentrenched. The 10Y is attempting to set a new base above 1.7 and the monthly iH&S neckline break.

Pennywick

BTC found resistance at the 2H 50 SMA. The Continuation Diamond has descended into a Broadening channel. Scouting price compression in the Bull Flag.

Pennywick

The right side of the ATH Reversal Diamond has a POC well above at 251. A 5-Hour Broadening Pattern has taken shape for BTC as the consolidation continues.

Pennywick

Covering algos returned MSFT to the Daily Gap lower bound, the choppy action of last week has been replaced with ranging stair steps. MSFT recovered the daily LBB, currently in a Doji .

Pennywick

BTC recovered the Daily LBB while challenging the 500 Day EMA. The last test of this moving average was the Lower Low Pivot during the summer of 2021 at 29K.

Pennywick

BTC is finding resistance at the 2h 8 EMA as the downtrend continues.

Pennywick

BTC and the 10Y have diverged. BTC is now in the shadow of the massive H&S, the power of the break will help determine the possibility of a reversal pattern.

Pennywick

With the markets contracting as fiscal policy and the 10Y bond lock step, Meta has held up the best of the Big-Tech group. Energy continues to be the early rotation winner.

Pennywick

With a Hammer taking form as the active 3-Day candle, BTC is attempting to set-up support after the confirmation of the Head and Shoulders Pattern.

Pennywick

2021 was the year of the dueling H&S patterns, the first neckline was defended as the doldrums of spring 2021 rose to euphoric new heights by fall. Now we are sitting at the precipice yet again, challenging the neckline of the twin pattern.

Pennywick

Found Support at the all-time Fixed Range Volume Profile Point of Control 231. BTC is a bull flag after breaking out of an extended falling wedge.

Pennywick

BTC in a bull flag after the falling wedge break-out, NAS and SPX with reversal days, the 10 Year with an iH&S relief rally stuffed after completing the break. Two days left in a low volume trading week. Top watch is the Metabook and the 4 hour iH&S after the gap fill.

Pennywick

Found resistance at the Break .236, setting up a potential flag. Bull Play - watching for a backtest of the .236 out of the flag, Bear play - back down to backtest the pattern. Supported by a wick at the 2h 8 EMA .