tfoley472541

tfoley472541

AAPL is forming an apparent H & S reversal pattern with a neckline at +/-180. Using the top as 196+, the resulting measured move would produce a new 4-month low at <164. Of course, failure to deliver on a bearish setup is uber booolish. According to Edwards & Magee, you will find clues in the volume of the setup. Best of Luck in your choice! I remain bullish.

tfoley472541

When was the last time #TSLA closed below the lower BB for 5 consecutive days? September 2016. The stock needed 3 more months to finally turn the corner 👀

tfoley472541 Updated 

CHWY is oversold at 33.60. After several quarters of earnings beats and lots of analysts upgrades it has gotten caught up in the recent fears of a pullback in the overall market and is overdone. if it drops below 33.56 and recovers, it can be considered a FBD (fake break down) and will be ready to run, IMHO. RSI and other indicators deeply oversold, and 33.56...

tfoley472541

After taking out the October and November lows, QCOM has surged to activate a Fake Break Down reversal pattern, as well as an odd looking island reversal pattern, leaving behind almost the entire month of May's trading days. It might need a breather here as it runs into some short term resistance, but I'm long.... 🤷‍♂️

tfoley472541

complete failure of proposed idea 🤣 Ongoing anal: until ES/SPX breaks out above 4300 and holds, I expect that we get more of the same: Tech and Semis, insomuch as they relate to AI, headed higher, while the rest of the market lags. However, there are hints of signs that the market wants to challenge the status quo and move higher, but more work is to be done.... BoLTA

tfoley472541

This is something I just created, not sure if it has any relevance yet or not, but still, may be interesting to consider further....

tfoley472541

In theory, you could make the case that AAPL and the VIX both have long term H&S pattern tops which are nearing their respective breaking (validation) points. Whichever one breaks will invalidate the pattern of the other. Which breaks first?

tfoley472541

In theory, you could make the case that AAPL and the VIX both have long term H&S pattern tops which are nearing their respective breaking (validation) points. Whichever one breaks will invalidate the pattern of the other. Which breaks first?

tfoley472541 Updated 

If you have been anticipating a resumption in the October rally, this may be the trigger. The SMH/SOX is the (I believe) the last of the major indicies to still have a gap left unfilled. If it closes today (or this week), then maybe we can get going to the upside. Some resource stocks have already started their ascent (GDX, SILJ, UUUU, UEC, NXE, etc.)

tfoley472541

Uranium miners jumped over short-term resistance this morning (9 & 21 DSMAs). With strong volume at 11 am and support at 200 DSMA having held from two days ago, I'm looking for URA to maybe catch its breath at the 50 DSMA before pushing through and targeting 28 in September.

tfoley472541

Oil has run into overhead resistance at the 50 DSMA after an impressive 5 day run off the most recent lows. Does it now cower in the wake of a hawkish Powell at Jackson Hole later this week, or does it say Come and Get Me, Big Guy?!

tfoley472541

I bought NXE today at 4.05 after seeing this nice bull flag setup. I am targeting 5 as a sell target, approximating at 20% gain from my buy point, which could be undercut on Monday. Notice two days of significantly increased volume: 1st on attaining a higher high on 7/27, than again on 7/29 representing the breakout and follow through from the down sloping...

tfoley472541

Using XLE to represent the sector, it appears to be forming a "W" pattern, which could morph into an IH&S reversal pattern, but it still needs a little more time. Green zone is general support, and probable good intermediate term buying opportunity, maybe lasting into the end of the year. Pink boxes are gaps I would expect to be filled before reversal manifests.

tfoley472541

Natty has been dancing to the beat of its own drum lately while oil, uranium and xle components have been struggling. Elliott Wave is a tool I often use, but I still consider it esoteric in nature, and often difficult to read, so, reader beware. So, while the bottom may be in for Natty, at recent support just under 18, I suspect a re-test is coming, as well as a...

tfoley472541

following a fake break down and recovery of a month-long triangle, SPX appears on the verge of breaking out above the trendline that began with March's month end high. If we get that breakout, I'd be taking first profits @ +/-4080, keeping in mind that we will want to take profits quickly in a countertrend move. I'd also be leaning towards tech in individual names.

tfoley472541

I can't say that I've called a top using trendlines atop of a bullish trend, but I've seen a few others do it. With the rise in the dollar bringing mass bearishness to rest of the investment complex, a pause could bring some welcome relief. Anyway, I thought the timing might be relevant as important lower levels approach in $CL, $UX, and some metals, as well being...