whiteknightmoving

whiteknightmoving Updated 

If this butterfly pattern is correct, the projected D point is a $405 target we bought lots of calls this morning in the circled area let's see what happens next!

whiteknightmoving Updated 

AAPL- has been 1 of the 5 strongest stocks leading the Nasdaq. Yet we see a sell set up. Target shown by the pink arrow, defines a target sell point for AAPL. The Cypher projects a 78.6% retracement of Mondays sell off. The brown dashed line shows the projected sell zone.

whiteknightmoving

Here is the closer view of the sell zone circled in red. Please note the 2 fib ratios also that cluster near the top black trend line. will Tesla top near these zones? We took profit at 1422, yet TSLA has gone higher! Gotta love "Throwovers" who knows how high? However the sudden reversal back down can be extremely quick!

whiteknightmoving

TSLA - This long term over view chart has provided us a very nice buy back in May 2019 at the lower channel line. Many of us know the power of the long term channels. When the price has moved to the upper channel, it is time for us to take profits. Is there more to the up move in TSLA? - Maybe as the next chart will show details and a zoomed in view. However the...

whiteknightmoving

For the past 2 months, we've been watching for the Gartley, Bat Patterns to complete (see May 7 post), and it looks like we have. It looks like we have the June 8 high as a possible wave B (yellow and purple) high. Now we are looking for the C wave down to new lows. If the B pivot high holds, then the C wave (yellow and purple) should consist of a 5 wave move down...

whiteknightmoving Updated 

Last month (May 7) we proposed a chart with the pink ABC trail. so far we're on track. Now we can see that the A wave and B wave have made pivot turns for us. We are now in the pink C wave up. This is getting really interesting now as we approach the short sell zone shown in the red box. We are looking for the top of the pink C wave, which of course will...

whiteknightmoving

The previous SPX chart showed the bigger picture for the next few years.... but what about now? Here we are in the month of May 2020. Where could we place a high probability short? This chart shows 2 possible trails (in pink) to get to the sell zone shown in red. Of interest is the possible Bat pattern shown in blue which might make a C=.618 x A wave pattern...

whiteknightmoving

Stepping back and looking at the historical price movements of the market, leads us to consider the bull market as being finished for quite some time. The Elliott wave count shows the finish of wave 5 of 5 and we are now looking for the corrective pattern to the longest bull market in US history. The price should return to the previous wave 3-4 zone as...

whiteknightmoving Updated 

Looks like we could be in yellow wave B now. We're now Thinking we're in a possible expanded Shark pattern. We should have the smaller (red labels) A-B-C up to finish the bigger Yellow wave B. These wave B's can be very emotional and move very quickly and violently We are still long from Friday and bought more calls at the open this morning

whiteknightmoving Updated 

Waiting for the FED announcement soon.. maybe 1 last "hurrah" higher and the Megaphone pattern could complete. Notice the "kiss to the underside of the black support (now resistance) line. The math price targets below are based off the ATH... and could change very slightly, but you get the idea of the math targets as shown. Lets let the "earnings news" be absorbed...

whiteknightmoving Updated 

AAPL has been the darling of the market. It may now be "priced to perfection" ... but the slightest misstep or news could make it drop fast. We are now seeing a very nice (red label) ABC corrective pattern. Could the earnings announcement that is due after the market closes be the trigger? If we top near the B wave as shown by the Bat pattern harmonic, we can...

whiteknightmoving Updated 

Ok , if you've followed along with the charts to this point we can talk about the wonderful possibility of our 2nd chance to load up again on this stock. If you don't own any stock, be patient, we will see lower prices. But not just yet. Looking at the chart we see what appears to be 3 waves up and now X is making a small triangle wave 4 pattern. This usually...

whiteknightmoving Updated 

Looking for the elusive top has been interesting. Just where is the top? We have been Updating wave counts as the 5th wave expands. For what it's worth (not much) here's the Old Fart's thoughts. Notice the Purple channel in Expansion mode. See the channel median line? Then look at the upper projected top channel line. Next look at the 2 targets shown. This...

whiteknightmoving Updated 

We've been looking for the elusive top since this recent bull run up began Oct 3 2019. Our Last post was Merry Christmas! with some positive bullish astronomical alignments. They've worked out nicely. Now, This post begins to see some very uncomfortable timing events coming soon. We call these "Tin Foil Hat" observations. We use an astronomical program, and...

whiteknightmoving

The SPX came soooo close to the red wave 3 target at 3228.6. Actual was 3227.8 (missed by 0.8 pts). We are now in (or have just finished) red wave 4. The next move is up for Red wave 5 (which finishes the bigger yellow wave 5) and should take place over the holidays. Our next bullish target is to finish Red wave 5, which would complete Yellow wave 5, (of Blue...

whiteknightmoving

We have a lot of confluence of the targets here now. The VIX has pulled back down to some good projected targets. The C=A target at 11.9 has now completed. The Pesky Gap! (as circled in red) has now completed at 11.8 The Alternate Bat (blue) projected is very, very close to completion at 11.6 Strong support is at 11.5 We should look at this green buy area of...

whiteknightmoving

Well, isn't this interesting? After 12 years the XLF has finally managed to get back up to the old highs set back in 2007! Double top is exactly the same (to the penny) as 2007, as shown, just before the financial crisis for 2007-2009 happened. If we look at history the XLF began to crack and break down in 2007, giving us clues about the rest of the stock market...

whiteknightmoving

Here is the closer view of the end of the 5th wave = Wave 1. Looks like we might see an ending diagonal pattern within the blue boundary lines. Also (if this wave count is correct) we might see a 3rd of a 3rd wave gap up very soon! Remember we think this is the ending formation of the rally up from the Oct 3 low. We are selling short near the top target zone of...