rjchilia123

rjchilia123

I hope everyone had a good Memorial Day. Technicals: The bulls definitely have the price action on their side. We came right down to the old neckline (new uptrendline) as I said we would and the bears didn't even put up a fight we just briefly tapped it and went straight back up very bullish price action. Remember price action is the most important thing. How...

rjchilia123 Updated 

We were headed down in futures until we found out that another 2.4 million lost their jobs as you can see on the chart we bottomed right as the jobs report came out at 8:30. Every time we get another record breaking jobs number stocks go higher, and this 2.4 million is after we reopened, were still losing record jobs. Yeah it’s totally gonna be a v shape recovery...

rjchilia123

Like I said on the last post the bulls don’t have any room, we’ve been at the 2970 level the last three days to this point we have bearish divergences on every single chart from daily down to 15 minute. We are also overbought on every single chart from 4 hr to 15 min. Even if we do breakout it’s a low probability breakout. The best thing for the bulls would be to...

rjchilia123

Bears need to break the uptrend

rjchilia123

We had a high breakdown in uptrend, followed by a low, lower high, lower low. Sounds perfect start to a downtrend, but then Trickster Trevor came in and put in a higher high. As seen in my week ahead update we were expecting a higher low below 2952 Monday. But we got even higher so what now. I have outlined a bullish and a bearish scenario with arrows, keep in...

rjchilia123

My short position is playing out the recent low was only 4 cents off but still counts looking for a lower low below 20.29. It would be a fairly good time to open a new short on financials after the recent rally. I’m doing it by faz 3x bear fund.

rjchilia123

We have the worst depression in US history, Since no one has any jobs whose gonna buy from all these tech companies like Apple for example you think IPhone sales will stay just as high as in 2019. Now I think Apple is a good long term company but look at the valuations on these tech stocks. I know like Netflix has benefited from it but we can’t have 5 stocks...

rjchilia123

Look at rsi and money flow getting into the overbought on ever timeframe 4 hours down to the 1 hour. Money flow is rsi except it factors in volume. The best thing for the bulls is that only pullback like halfway to maybe 2850ish and than make another higher high above 2980 that is next level to take but we need at least a pullback first. When we pullback bears...

rjchilia123

Its no longer at 5000 year lows so hopefully you bought some. Big move up here overbought so expect a pullback which I will be buying. It looks like the trend of Gold outperforming Silver is changing. Silver is still at 100 years lows so its still very cheap but my current target is $100 Silver and $5000 Gold in 2-4 years.

rjchilia123

both tech stocks and spx are going sideways but xlf is in a strong downtrend. I am personally long faz, the banks have the most downside fundamentally. They loaned money at cheap interest rates below inflation to a bunch of over leveraged broke Americans. We will have to wait to see just how bad default rates get with highest unemployment ever. I expect the...

rjchilia123

This is very important to determine where spx is going. Bulls need a breakout above 9355, and bears need a higher low below 9355, another trend line break and then lower low below 8857. Keep in mind the bears have taken the daily charts on macd, stochastic rsi. I am personally shorting financials and long the vix. I don't think the tech sector is the best to...

rjchilia123

Technicals: We are in sideways trading still, we successfully made a lower high and lower low (daily downtrend) now we are going back up to make another lower high. You can see it perfectly on the hourly charts the mini bullish inverse head and shoulders pattern that is playing out. My last update the bulls were taking another shot at the neckline (of the much...

rjchilia123

We came into the morning with the plunge protection team

rjchilia123

I was hoping it would sell off so I can buy more but it will eventually form our higher low anyway it’s still a bit overbought on shorter term charts so there is a chance for a fake out and bears take control. But for now bulls in control of every single time frame. Negative rates are gold and silver positive, silver had an exceptionally strong day, gold/silver...

rjchilia123

The market was oversold today just as a normal bear market we had a large bounce to the upside. Bears in control looking for lower high below 2950, bulls need to breakout above 2950 to possibly turn this into a weekly bull flag. My expectation is that Powell throwing cold water on negative rates is stock market negative this market needs negative rates and will...

rjchilia123

We traded sideways a bit more than I expected but we now have a neckline break, but we haven’t seen weekly sell signal yet. Market still extremely expensive look at Market cap to gdp, or Shiller pe. It’s the second most expensive ever. Granted we haven’t had anywhere near this much stimulus and funny money, but it’s more likely that stocks fall based on how...

rjchilia123

The technicals appear to be in favor of bears, a big pullback is bullish here. Bearish divergences on daily and weekly charts. With that being said we have been stuck in this range and we are running out of room, gonna have to break soon, I think probabilities are in favor of bears.

rjchilia123

Warren Buffett when he was younger used to be a conservative believing in sound money and low debt, real growth. Warren is supposed to be this extremely smart fundamental investor that only buys good solid companies with strong balance sheets that grow earnings. Even before virus look at Buffetts kraft Heinz pick, 30 billion in long term debt , only 1 billion cash...