tech_yogi

tech_yogi

The pattern has worked for decades. 180 week moving average has acted as a line in the sand for many times. Looks like we are headed that way for this round of "correction" as well. But if it doesn't hold, we are looking at some serious pain. Last two times we breached this line in the sand, we went down by 38-46% from the 180 week moving average. Be careful out there.

tech_yogi

The weekly chart clearly has a pattern that replicates every correction. Stock crosses below 50 ma and finds support at 200 ma before bouncing back. The current weekly 200 ma is ~180. Ways to go? At this rate we will be there by month end ;)

tech_yogi

Trending within the smaller structure with the resistance ~2950. The big story is the larger megaphone structure though. It's in play with potential downside targets to ~2700 and ~2150. (YES. See my earlier post containing weekly chart). Break of 2950 will mean we will hit the upside trendline in short order with targets around ~3050 area. My bias is short as more...

tech_yogi

Battle for control is on right now. The 270-275 range is key. Once that is taken out it's an elevator down to the big horn support. Also look at the fib levels, aligns perfectly. Be very cautious out there. New rally will be capped at the top of the horn trendline so upside is limited but the downside risks are fairly high!

tech_yogi

Earnings in 3 days. Will it break a critical support that it has held since 15+ years. Great company with a good dividend yield but in a sector that is extremely challenging.

tech_yogi

This is diving back down along with china...

tech_yogi

WOW, just wow. Fib perfectly timed the bottom for XOM. Looking at this chart doesn't really tell you that Oil is at multi-decade lows. Such is the power of quality oil majors that are fully integrated. XOM is the best of the best and it will get bigger and stronger with this rout by acquiring assets from poor folks who messed up by taking on a ton of debt. Buy...

tech_yogi

Great company with a solid balance sheet but in a depressed sector. The parent company just increased it's stake at 4.50 and so did the CEO buying 100k shares at that price. Billionaire Leon cooperman also bought 7.7% stake in Feb this year. Cash flow is good but there is no net profit due to high depreciation. 10% yield. I am waiting for a market selloff to...

tech_yogi

Again, going with the theme of dollar rising and spx/commodities selling off one last time. Good company to keep an eye on at decade lows.. I am a buyer at the touch of the bottom trend-line.

tech_yogi

Will the dollar resume it's up trend channel after that bit of a squeeze below the channel? Or is this just a retest of the previously broken trend channel? Sound bites from Fed and the Inflation outlook would suggest that we are about to rollover on the index and commodities. The overheated trade of the last few weeks is about to unwind in a time where SPX is...

tech_yogi

Again, a great company in a terrible oil servicing environment. Another swing down in oil prices will take it down to the 5 area where it would be a great long term buy. It pays a nice dividend as well.

tech_yogi

This is a great little miner with strong fundamentals. They have a ton of cash on balance-sheet and they were still profitable in the abysmal commodity price environment. They are also bringing up a major Zinc project that comes online at the right time when the world market is going to experience a severe Zinc shortage. MACD is weakening but the trend is turning...

tech_yogi

Now that the new product announcements are out of the way the stock is ready to turn back down. The big surprise was the new pricing on the products was much lower than analysts expected. This could potentially put some margin pressure. And with the buyback blackout period coming up here soon, the stock and the news flow is likely to turn negative. Upside is...

tech_yogi

Fib retracement, overhead trendline reseistance all in the 2060-80 area. I think a speculative short position could be taken here given that we have entered the buyback blackout period. Last time it was this time that removed a large chunk of buy flows from the market and it tanked without that support.

tech_yogi

Jan 26th is the results day and I think this downside momentum is going to continue until that week... $85 area represents a solid support both from fib level and the long term trendline resistance turned support. I will go long at $86-$87 area and lock in this great company for cheap.

tech_yogi

This does not look well for Oil, commodities, export oriented companies.

tech_yogi

The retest of Aug bottom and the reversal looks too good to be true. Here's the 15 minute with clear divergence on MACD. I think we may consolidate a little before a quick and a sharp move down to make a new low.

tech_yogi

No need to complicate this. Clear breakdown signal today. The ascending wedge is broken down on high volumes. There will be a retracement but this market is short until 2136 is broken. Sell if it goes up a bit tomorrow. Incidentally, lots of Fibonacci guys were predicting 2136 to be the top - (don't know how) so there is selling pressure around that level. Many...