axelroark

axelroark

VXX, VIX, TVIX, VIXY, etc all consistently banging against a descending diagonal trend line, meanwhile also printing an inverse head & shoulders pattern. A break above neckline or DTL suggests a massive move higher for volatility, which spells trouble for equities and indices.

axelroark

Hard to ignore this pattern. VIX futures look poised to explode higher in the coming months.

axelroark

The NYSE, a laggard compared to $SPX, $NDAQ, et al, is just points away from printing a higher high (Sep/Oct high), but also bound to the peak of a potentially dangerous ascending wedge. Should a higher high be printed, this would be very bullish for the market in general. However, if it does indeed top here, it suggests a strong reversal is likely across all the...

axelroark

Similar to our CL vs SPX chart; these two usually move in tandem, but the gap is widening. Is Russell leading, or behind schedule? My guess is the former.

axelroark

Usually they move in tandem with each other, but now the gap is quickly expanding into unknown territory. My guess is that SPX is extremely over-valued.

axelroark

Hourly chart. Hourly bar closed below the wedge. Backtest completed after hours. Could be a hint at what is to come for #FOMC Wednesday.

axelroark

Chart says it all. Target 89-90.

axelroark

IBB is showing weakness, having broken through a key support area and then failed to recover in day 1 of the back test. Expect to see re-test of 98'ish support, with failure leading to a re-test of December 2018 lows, and perhaps much lower. Bang for buck isn't great here, so we aren't taking the trade, but risk/reward is very good on this move.

axelroark

This is one of the few equities holding up this month, maintaining 20/50/100/200 day support, but also having completed a back test of the breakout zone and ready to move up once more.

axelroark

AMD still propped up by irrational sentiment, but poised to return to Earth this summer and into fall. Target spelled out in the chart.

axelroark

$SMH ready to bounce at support before completing the last leg of this particular head and shoulders pattern. Also found RSI support. Still bearish semi's, so will go long now and short at 106.

axelroark

$VXX, $VIX, $TVIX, etc all consolidating above 20/50 dma + 55ema. Very similar pattern to prior 200dma test and breakout patterns. Short if 200dma fails. If we breakout, sell before the 200dma backtest, and enter once it finds support there.

axelroark

ETSY has been consolidating within a standard box pattern for the past several weeks, and has broken out of its initial trend line resistance, ready to test the upper region of the box at 73.50-74. Whether or not it breaks from there remains to be seen, but a test of 74 would yield 3+ points per share. Not a bad return.

axelroark Updated 

This chart is one of the few bullish charts I've seen lately. Obvious round bottom pattern, with bull flag suggesting a breakout higher into the 40's. Earnings are reported on 4/23, so will look at this as along into Tuesday, and a hedge through earnings. I would not be surprised to see Twitter set new all time highs over the coming month or two. Short-Term...

axelroark Updated 

TMUS looking to form a trip top, with RSI facing DTL resistance in a downtrend. Looks ready to breakdown. Target: 69

axelroark Updated 

Theory is that each box jump/drop requires the same amount of time, and thus GS looks poised to spend some time bouncing between 205 and 220. Idea negated if 205 zone is lost. Target: 220

axelroark

Netflix is in the land of indecision. Next few days will tell us where we're headed. Even a break higher could lead to a double top, so we'll be watching and waiting. No position.

axelroark

Spotify (SPOT) looks has found itself in a pennant/wedge and is poised to move within the next few days after touching down on DTL support and bouncing higher. RSI in alignment. Target: 168