mwrightinc

mwrightinc

AMEX:SPY , NYSE:ES , GETTEX:MES - It looks like we may be headed back to the neckline of the double top that we broke on March 4th, 2025. That would set a target of around $575-ish before we make the next leg down - matching NASDAQ:DJT and $XHB.

mwrightinc

In last year's big move up SPY trailed DJT (Dow Jones Transportation Index) and XHB (A Homebuilders ETF) by 2-months and 1-month respectively. In November, DJT crashed. In December, XHB crashed. It's January now. If nothing is being delivered, and homebuilders have no one to sell to that can't be good for the greater market.

11:05

mwrightinc Updated 

SPY recently retraced to the bottom of our Magic Linear Regression Channel with a large 3%+ move. Today, there was a nice bounce bounce from the channel bottom, back up to yesterday's open. So, what's next for SPY. The Magic Linear Regression Channel shows upside potential to it's baseline back at its recent all-time highs, and the potential for a higher move...

10:42

mwrightinc Updated 

Using the Magic Linear Regression Channel on TradingView.com we look at some possible scenarios for SPY price movement. A shorter term regression channel shows SPY at the top of the channel and rejecting it today - even with more buyers than sellers in the TradingView Volume Footprint chart view. The bottom of the channel converges with last pivot low near...

04:29

mwrightinc Updated 

TSLA has been on a tear over the past month or so. Using the Magic Linear Regression Channel indicator we look at the chart of TSLA and see that it has blown through a lot of the parallel channels, making it seem difficult to pinpoint. But, by adding an outer Fibonacci band to the Magic Linear Regression Channel, and selecting starting pivot highs followed by...

12:32

mwrightinc Updated 

With the Magic Linear Regression Channel by @mwrightinc, we built a channel on the daily chart that shows that NVDA looks like it may be beginning a bounce from the channel baseline. Using the Multi-VWAP indicator by @mwrightinc, we can also see that today, NVDA reclaimed the 5 Day anchored volume weighted average price (AVWAP). We can also see that after...

07:56

mwrightinc Updated 

PLTR had a great day today, and has had a great month so far following an earnings report that beat estimates. Using the Magic Linear Regression Channel we can see that PLTR broke out of a 2-year long channel at the beginning of the month (November 2024) following it's earnings report. This means that its price structure has a brand new change of character....

09:56

mwrightinc

In this video, I use the Magic Linear Regression Channel , Multi VWAP , and Magic Order Blocks indicators to build a case for a $60 SMCI target. In short, it might be a few months away. Using a linear regression channel starting on May 8th, 2024, and ending October 29th, 2024, we can see that the channel is respected at multiple levels. In today's...

07:39

mwrightinc

Using the Magic Linear Regression Channel by @mwrightinc, we can create a channel on the weekly chart that shows that BTC has broken out of the channel. Using the Outer Fibonacci band from the indicator, we can see where this channel break could lead to. By using a start time from a 2018 pivot low, we can see a price target of $115K with a prior retracement to...

19:21

mwrightinc

Give a man a fish, and you feed him for a day. Teach a man to fish, and you feed him for a lifetime. In this video, I explain how I use 4 free TradingView indicators to identify entries on SPY. There is a lot of information out there about creating support and resistance zones. But, drawing reliable ones only comes with experience. In my 3 years of options...

mwrightinc

The 9,18, and 27 period EMA showed that there was strength in today's market after breaking out of not one, but two price channels recently.