xtremerider8

xtremerider8

ENPHASE is holding better than its mother ETF, TAN. Since 2021, it has basically been consolidating horizontally except for an overshoot 4Q2021. In contrast, the TAN etf is in a falling wedge formation. BULLISH CASE: Better yet, it is holding above the middle of this conso box, the 165 to 170 zone. (Middle of 120 to 220). This is also a convergence of 3 VWAPs from...

xtremerider8

USDT can be used to predict when this stablecoin rotates back into BTC & Altcoins. In the past 3 times, BTC bottommed out at exactly this trendline. Now it overshot the TL but quickly retraced exactly on the TL at 7.72% dominance forming a long red hammer in daily.. Will this again signal another BTC shortterm bottom with 21000 holding? Looking at the distance...

xtremerider8

AAPL failed to hold 133 the Fib 0.618 level. It also closed slightly below its recent low & the weekly cloud. This turns the 133 from support to resistance if AAPL does not reclaim it quickly. The next support zone will be the 120 to 117 green box, very near wma 150. Coincidentally, 120 will also be a 200% retracement of the last rally from 150 to the high of...

xtremerider8

Google is still in a big red channel downtrend sine the ATH at 3042 failing to hold even the median line last week. The lower red channel at 2025 will be tested. If Google loses the 0.50 Fibo retracement, there will be a totally blank space (green box) until the next Fibo 0.618 at 1786. The decline will be very very quick. This capitulation most likely to happen...

xtremerider8

BEARISH CASE; In my previous posts, I warned BTC may retraced to 22k, the weekly wma200. I still have a bias towards 22k. However, if you measure the height of the Jan2022 rally from 33k to 48200, BTC may even retrace 200% Fib down to 18k. A diamond continuation to 18k is also a high probability since it was the midline of the red consolidation box of Dec2020...

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As I have been warning many times since start of June, SPX again pulls another bulltrap. Many were expecting a bullflag to break above 4200 but what I actually see is a DIAMOND REVERSAL PATTERN which breaks below the psychological 4k support by gapping down to 3900. It stopped exactly at the base of the green Megaphone pattern of Sept 2021 to 4818 ATH. I think SPX...

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TAN is now on a shortterm uptrend forming a channel just like ENPH in the post last week. It may retrace to 68 to retest the lower channel just like ENPH did. 68 is also the neck of a previous M-pattern. It is also the middle of the current trading range of 55.50 to 77.50. TAN still have a long way to go especially with the Biden Administration boosting solar...

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Update on my previous warning that XLE is soon to retrace. BULLISH CASE: XLE reached ATH 93.31, my FIb 2.0 target & retraced. It should bounce at the red Dec2021 trendline @ 82…FIb 1.0 which is a previous April top. BEARISH CASE: XLE had a very impressive run up since its pandemic low & a correction is overdue at this ideal time when extreme high oil price may...

xtremerider8

ENPH is the strongest component of the TAN solar ETF. Just like the biotech sector, it has started to gain ground after a long hammer candle at the week of May 9,2022. Since then it bounced with 4 consecutive green weekly candles from 165, the middle of a big trading range since 2021 (110-210). BULLISH CASE: ENPH is now at 210 the top of the range. It may retrace...

xtremerider8

With the current fear of recession & rising inflation in the US, a lot of funds will be flowing outside into emerging markets, China & also Brazil which is rich in commodities especially now that the dollar seems to be peaking out as foreign markets slowly becomes more attractive to invest in. EWZ may retrace down first to fill the gap at 33.65 green line. A...

xtremerider8

BLX Bravenewcoin liquid index may for the first time retest a previous top if 25500 the 0.618 FIB EXT from the ABC top is lost. There is absolutely no support (BLANK SPACE) going down to 20000 (the 0.786 level) except perhaps the weekly WMA200 line at around 22000. The blue neckline from the 2020 pandemic Inverse H&S will intersect 20k & 22k & thus this line may...

xtremerider8

SPX rally stalls inside the 4100 to 4200 zone. The recent gap up above the H&S violet neckline could be a bulltrap. If bears gap it down next week below the neckline (island reversal), then the H&S pattern may still play out. BULLISH CASE: As long as SPX does not make a lower low than 3800. There may be a chance for a double bottom before a new 5-wave...

xtremerider8 Updated 

BULLTRAP?: SPX’s recent gap up above the invasion low of 4115 & above the blue neckline of a H&S formation may be a bulltrap. This will happen if bears will gap down below 4115 to make an island reversal. This may re-set the H&S pattern into play & the 6 impt supports will be the ff: 1)4000, a 17% drop is also the intersection of the 2009 TL with my green 2021...

xtremerider8

Gold update from the previous post where I said gold may go to 1800 or even 1760. As predicted, the bounce from 1800 was short-lived & GOLD is barely holding 1833, the 0.618 Fib level. This time it falls, 1800 may not hold anymore. These are the 3 next impt supports: 1) 1760 is an impt pivot & also near the trendline from 2018. Breaking below the 1800 to 1760...

xtremerider8

My thesis: The pandemic drop was 35%. The sentiment now is even more bearish. So I use that drop as a fractal to guide me where SPX may react at certain critical levels going forward. BEARISH CASE: I super-impose the pandemic top onto the recent wave b turning top at 4640. SPX fell but bounced from 3800 but was rejected by 4200 with the oversold RSI already...

xtremerider8 Updated 

XLE formed a big H&S pattern in 2002 & has since bottomed during pandemic. From there, it started a blue rising wedge which had a more chance of breaking down. However, due to the Russian invasion, it broke to the upside above the H&S green neckline.. Measuring the height of this wedge gives a target of 82.40 which XLE had reached & recently exceeded. It also...

xtremerider8

BLOK is an ETF that includes MSTR, & miners like MARA & RIOT which have also risen recently specially MSTR. This meaningful bounce at an important support zone suggest a shortterm low & probably a reversal. However, considering the damage, it will take quite a while to repair this chart before any hope of getting back to major resistances. My case for a reversal...

xtremerider8

USDT dominance, like in my last BTCSHORT post, is also a useful tool to approximate when BTC may bottom & when USDT coins will rotate back into BTC+Altcoins. This monthly chart suggests that BTC still have some room to fall (still a small space to reach the top of wedge) before a real rally. Not trading advice