AVGO – May 30, 2023

Folks, thanks to @stocktwits and @howardlinzdon I wouldn’t have known about AVGO. OUCH …so, seeing in Howard’s feed I decided to just go take a look.

Amazing … take a look at this mathematical symmetry. Pretty amazing, isn’t it?

Yes, I know, it’s after the fact and I admit to that.

The cool thing is 1/ it’s still there (the math 🙂 ) but 2/ even cooler is my eye immediately saw it.

I tell you folks, the more you take off the charts, the more you will see.

Anyhoo, sure looks like a 1-2-3-4-5 and w/ that symmetry and math, along with today’s action certainly appears that is all she wrote!

NVDA update – May 30, 2023

Took a peek at NVDA tonight and what came to my eye was the “look” of the “last” big move into a high from a measured move perspective and, yup, there it was – almost exactly equal to the length of the last move.

Honestly, I saw that but was “head faked” by the gigantic candle that brought us here so I used the all time low for the ABCD projection that is a little higher. But, tonight, it was the “shooting star” like nature of the candle that caught my eye. So, there it was and I, sorry folks, but I blew it. I did have the 1.27 extension on the chart and that “can” or “should” provide some resistance but, like anything, the level takes on more significance when you have a projection into that extension level. So, take that for what it’s worth.

Now, my “feel” is that we hit some resistance and perhaps a pullback and then up into the larger ABCD. That scenario, for now, would workout if that old trend line that got blown thru holds as support and NVDA bounces and goes up up up … this thesis is thawing and getting really cold if we get a weekly close below that old trend line.

So … lets see what happens.

NVDA – May 29, 2023

NVDA – WOWZA.

I have a long term monthly count in my head that has a pullback/pause coming and then continuing higher. Yes, I think this is going higher. However, need it to get thru two things first:

Trend Line: note the long term log trend line from the first high 20 years ago the last major high (both regions denoted by the blue arrows) caused a pullback to occur … this trend line “should” at least offer some resistance. We blow thru it and this thing is in Zone 5 afterburner.

Right near the projected trend line resistance is the ABCD from the low down at .37 cents. The 1.27 extension “should” provide “some” resistance. The target for now: 444-454.

NO I’m not advocating a short here unless you have HUGE “fill in the blank” – I’m seeking an area of resistance that will enable a pause/pullback so I can manage risk and not try to get into a run away market something I have proven – again and again – to not be good at and, in fact, where a majority of my losses have come from. Trust me, I’ve had my fair share – BIG TIME. Maybe you have, will or won’t (it can be the “won’t” …usually isn’t but why not?) suffer losses but for me – I lose money trying to chase. PERIOD. So, I’ll see a level to try and get in IF a pullback ever occurs. For now … watch that 444-454 area.

Also, I expected the volume to be much higher or even spiking but, with this much thrust, this high, the volume is normal to a tad bit latent. Hmmmm …coupled w/ the RSI isn’t overbought or showing any divergences. I think this thing has some legs but, again, I’m watching this rocket ship from my TV or staring up in the sky.

For those who have an e-ticket on this one .. hope these targets / resistance areas will help you manage risk.

Speaking of losses … we had a saying when I used to fly w/ my trusty (loved everyone of them OBTW) pilots … when it comes to gear down landings, there are those who WILL and those who HAVE. NEVER those who WON’T.

It’s OK to lose money …it sucks, I know, but it’s part of the game.

YEW – Bart

JPM redux – May 24, 2023

Last post on JPM: https://bartscharts.com/2023/05/21/jpm-may-21-2023/

Well, folks, the SELL PATTERN on JPM has worked so far and…that’s not good folks. I REALLY DO NOT care what your political affiliation is …in my simple mind you are a HUMAN and I AM connected to YOU.

So … this is a hard post. We are on the verge of a really important moment … and, frankly, I’m just going to say it on this blog:

KEEPING THE POLITICS OUT OF IT:

If JPM BUY PATTERN works – up up an way. The “metaverse” of the “real” world just continues to weave into Idiocracy.

IF JPM BUY PATTERN FAILS – it’s time folks. Stock up on REAL TANGIBLE ITEMS and be a good HUMAN …

It is that simple …

USO – May 21, 2023

Take a look at USO below … certainly looks like 5 waves down and , every wave was symmetrical and the EXACT same percentage move. Pretty crazy .. that’s why I love LOG charts folks.

W/ the 5 waves down complete and the pretty big move afterward would look to be a BUYer w/ a nice pullback lower on USO. Could be a nice long run higher on this one …

JPM – May 21, 2023

This is a long term monthly count from JPM that stretches back 50+ years.

Folks, certainly doesn’t “feel” like a 5 wave move in JPM is complete but the count doesn’t break any rules so … 5 waves complete?

Here’s the daily chart below – calling attention to the island reversals and the island reversals that could be at play – right now. Here’s the last post on it: https://bartscharts.com/2023/05/04/jpm-may-04-2023/

Well the count will either be correct or it won’t (yea I know, dugh) but .. here’s the 60 minute GART SELL PATTERN that hit so IF this pattern works THEN JPM should start back down which will put pressure on all the banks. IF this PATTERN FAILS then expect the daily .618 and .786 above to get attacked and, potentially send JPM off to new highs.

But, for now, pay attention the SELL PATTERN present on JPM:

Long Bond Futures – May 15, 2023

If your a technician, you can’t help but notice the very long (month ish) consolidation occurring in the bond market.

Today’s price action appears to want and break the support that has been around since March 15th. As you can see above, we do some ‘basic’ projections and right when the neckline breaks there is minor support (blue projection arrows) and then the BIG support w/ the blue rectangle present. A lot of math coming into that level. I believe that is the crucial level.

As you can see from the weekly chart above, the “time” of the corrections have been pretty symmetrical so from a timing perspective certainly looks like this “bounce” has run it’s course for one more leg down.

From the ATH, it’s a pretty clear count and I’m labeling this as a 4 completing/completed and another leg down (rates go UP in this case) into the .618 from the 1981 low (40+ years ago) in bond prices. Note the blue measured move above .. that was the largest correction in 40+ years. We take harmonics from that and you can see the square root of 3 harmonic nailed the low precisely. We have a .618 retrace, 1.618 extension, trend line coming from the low in 1981 and a harmonic of the largest prior correction.

That level is a good level to BUY – if we get down there.

KRE Regional Banks ETF – May 12, 2023

Last post on KRE: https://bartscharts.com/2023/04/30/kre-regional-banks-etf-april-30-2023/

Supposedly … who knows what is true these days .. 1000’s of banks are underwater. OK … whatever.

Here’s when we look at the CHART and we ask should we BUY or SELL or DO NOTHING.

KRE sliced thru the first “potential support” and now we approach, what I think, is the KEY to the KRE. Here’s why:

  • 58.76 – if you look at the purple measured moves you will see that EVERY major swing down has been 58.76%. I’ve used the “close” in 2008 as I’m not sure if that is a good print or not .. either way, that measured move nails EVERY LOW
  • 1.618 projection lands … right at the 58.76 correction.
  • .707 (square root of 2 = 1.4142 and 1/1.4142 = .707) just a little above this level
  • Long term LOG trend line right at .. all the above
  • Note the VOLUME – is that a capitulation spike in selling volume?
  • RSI sitting at the crucial support level for the ENTIRE bullish move since 2009

Nobody in their right mind is looking to BUY the banks but, then again, I can guarantee you NOBODY was looking to buy in March 2009. Maybe there was someone? Perhaps … me?

DATE STAMPED 3 MR 2009. (March 3, 2009)

Here’s why:

So … watch the THRUST coming into this level, maybe wait for a signal reversal candle (bullish).

What I can say is IF we blast thru this level (certainly “feels” like we should) then, yeah, a lot of banks are looking at some tough times and 28 and then 21 are the next targets.

Good weekend to all – B

Disney (DIS) – May 11, 2023

Last post on DIS: https://bartscharts.com/2023/01/23/disney-dis-january-23-2023/

HUGE support from 62-77 … the .618 is from the all time low, we have the long term trend line from 50+ years ago and the “next” measured move correction (dashed red arrow – remember this is log scale), also take note of the two ABCD projections (orange and yellow) smacking into the 3.142 (PI) projection, square root of 2 (1.4142) extension and the square root of 1.618 (1.27) extension.

75-78 is pretty important …

Last, a GUIDELINE and NOT a rule is that corrections like to target the “4th wave of a lesser degree” and you can see that comes right in where .. yup, our target zone.

So, from a balance, form and proportion this correction doesn’t look done or over BUT that zone should be some nice support.

NOTE: looking at it on a monthly, looks like we might have a three drives to a bottom setting up …

TBD.

EUR.USD – May 10, 2023

The EURO is smacking against some SERIOUS trendline resistance that goes back to 2000 and 1985 (synthetically).

Remember, the Euro wasn’t adopted until January 1, 1999. So, the grey box below is the “synthetic” version of the EURO w/ the Deutschmark and other currencies providing a “continuation” into the time frame of Bretton Woods.

Either way, pay attention to the “orange measured moves” as that looks to be a pretty good “beat” for price action. IF the EURO blows thru these trendlines then the next target certainly looks to be 1.15.

On the podcast “Trendlines over Headlines” I discussed how measured moves can also be used as time components. Took a few seconds to show this concept by taking the Orange and Blue measured moves and flipped them to horizontal to create the time component of the measured moves.

Folks … look at the chart below. From the 2000 low, you can see that the “measured move in time” was pretty accurate. Now, mind you, this is a MONTHLY chart so we have some “time” for the cycle to hit. But, you can get it down to the day and the hour. Something I’m working on … not quite there, yet. But, I just “like” the measured moves ….use them.

PRICE = TIME. They are the same thing on a chart …

Here’s the creation of the Vesica Pisces for the EURO. For no other reason than to test it out, I’m going to use that first synthetic drop as the “seed”

Now, mind you, this isn’t something that you can really invest/trade off of but, for me at least, it’s a good exercise every now and then. 🙂

the Vesica Pisces is the manifestation for the creation of life and is where the numerical equivalents of the square roots of 1-5 come from … it’s inherently nested in Metatrons cube (Archangel Metatron is – according to legend – responsible for the geometry of creation. Mr. Robert Edward Grant has done AMAZING work showing how this happens and has recently PROVEN that the 3 pyramids were actually constructed at the same time w/ Metatrons cube in mind .. it’s amazing.

Anyway, the market vibrates and is harmonic and abides by natural law. Just like everything … our job is to find that “beat” and “vibration” and then give it a whirl. One last, note, you can move the vectors horizontal to show the TIME component. I would do that but .. need to go do some “work.”

Cheers and make it a great day.

Every PRICE move .. based on the Vesica Pisces. Believe it … or not.

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