Bart's Charts

WYNN pattern complete

Posted on March 5, 2014 2 Comments

cliff notes:

candle strength is still strong but the target that we ID’d has been hit.
wait for a MONTHLY signal reversal candle to go short.
the last 4 months of candles are very powerful, so be patient.
the original sell pattern got steam rolled so … wait for some weakness on this one.
https://bartscharts.com/2014/02/27/wynn-update/ – was last update

a lot of work goes into finding high probability set-ups … this was our last post on Coffee Futures and SBUX. I had been trying to find an end (not trying to call a top but simply look for a pattern) to the SBUX run. Ratio analysis was finally sealed the deal for me …

SBUX and Coffee Futures

the cliff notes was that it wasn’t the price of coffee but the relative strength (COFFEE/SBUX) that had synced nicely.

the Coffee futures came down to the monthly node ID’d here:

and the result …

folks, this is a monster move! so what happened to the ratio?

the COFFEE/SBUX ratio before:

the COFFEE/SBUX ratio after:

here’s the charts of SBUX and GMCR

Russia surprise rate hike …

Posted on March 3, 2014 Leave a Comment

Gorilla’s are starting to juggle more dynamite … last week China, this AM Russia.

Stay tuned ….

TOO BIG TO FAIL …again?

Posted on March 2, 2014 Leave a Comment

it’s Sunday night and another 10-12″ is coming our way in Leesburg, VA. The Asian markets are opening down 1-1.3% and EVERYONE is focusing on Ukraine. And, well, rightly so. That being said, believe we also need to look over at China. A financial crisis is brewing. The Chinese Yuan crashed last week due to intervention by the Chinese government. Why is this a big deal? The same reason 2007-2008 was a thumping … D E R I V A T I V E S. Leveraged carry trades have been the no brainer trade …that all got spooked last week. The potential losses to the “too big to fail” banks is in the 100’s of billions …

Folks … get ready to rumble …

GOOG update …

Posted on March 1, 2014 Leave a Comment

continuing to work GOOG as one, if note the most, “important” stocks to be watching w/ regards to it’s weighting, psychological effect, etc …click the link below to see previous posts. we are in another zone of targets that “probably won’t” hold it, because as luck would have it his stock is NEVER going to go down.

https://bartscharts.com//?s=goog

did some quick geometry, like that of IBB, and it’s looking like GOOG has or is about to “parabolic” … but don’t worry about that because, well, the stock is never going down.

at or close to being parabolic … but don’t worry, it’s never going down.

Dollar Index Update

Posted on February 28, 2014 Leave a Comment

The Dollar and the Currency Market is, again, the Gorilla in the corner juggling dynamite. Per our last post (https://bartscharts.com/2014/02/19/dollar-index-positive-reversal-forming-on-daily/) we mentioned a potential positive reversal (which has been defeated) and one more target lower in/around 79.53-79.60. This is EXTREMELY important for the thesis of the Dollar moving up …

WYNN update …

Posted on February 27, 2014 2 Comments

CLIFF NOTES:

the PATTERN from the IPO was crushed….
recent 3 month candles are HUGE!
the patterns shown are BEARISH.
FOR MY FELLOW CHART PEOPLE: the PATTERN in price was defeated, however, the PATTERN in time is MARCH. We’ll know…soon what will happen.
THESIS: IF WYNN keeps going HIGHER so will the stock market (bullish) HOWEVER, if people are BUYING a company that makes its living on speculation, tourism and “it didn’t happen here” Vegas — then isn’t it a contrarian indicator that this ENTIRE rally since 2009 is a house of cards? We will find out — soon.

WYNN “slaughtered” the PATTERN at/around 180 w/ a vengeance …. KABOOM!

Folks, it didn’t even whimper at a pattern that had it’s genesis from WYNN’s IPO …

WYNN

So .. I asked myself, what the heck does WYNN do? Here’s the summary of the stock that people are buying:

“Wynn Resorts Ltd. develops, owns and operates destination casino resorts. The company operates through two segments: Las Vegas Operations and Macau Operations. The company provides hotel rooms and suites; table games; slot machines; a race and sports book; and a poker room of casino gaming space, including a sky casino and private gaming salons; casual and fine dining in food and beverage outlets; spas and salons; lounges; and boutiques. “

Full disclosure — I have stayed at the WYNN and, well, it’s amazing … if you get the chance, spend the extra bucks and do it. Well done, amazing service, first class! So, here’s the rub. WYNN, no matter how much net worth you have, is a choice and the last 3 months candles are the STRONGEST in the history of this stock. So, again, what am I missing? Sure doesn’t feel like the roaring 20’s right now or even the euphoria rolling into 2000.

Folks, this defies convention … when this puppy is hit by Sir Issac Newton, watch out below ….

WYNN … seriously?

the method behind finding the EXACT top in IBB

Posted on February 23, 2014 Leave a Comment

08/02/2014 – IBB has completed a PERFECT buy (price and time equality) PATTERN and believe the result will, more than likely, give us a good flavor for the rest of the equity market in general. Why? Well, this was a PARABOLIC move and if it keeps going then the “overall” mindset of the equity market might fall in line. Might or might not … anyway, IF you are long THEN the level 246 should be on your mind. If we close below on a daily basis would recommend looking at this position long and hard. IF the pattern works THEN risk is anything below 246. Watch this …

I was asked to take a look at IBB again and decided to re-post the below. Look folks, as much as the below is a work of art I’ve also been wrong on the patterns. it’s all probability and the patterns are always CORRECT? Why, because they LET YOU KNOW WHERE YOU ARE WRONG! And, when you become an advanced pattern recognition trader, IF (the big if) you execute correctly THEN you know that you’ve done everything you can do to manage risk and your not SURPRISED or HAPPY when one works or SURPRISE and SAD when one doesn’t. The PATTERN will work or it wont …off my soap box.

Anyway, take a peak at the below and try to follow me … let me know if you have any questions. Sir Issac Newton is still correct about this thing called gravity.

Everything you learned in elementary school geometry is all you need …

Rock on, ok?

Bart

they don’t come any nicer than this BUY pattern on IBB

IBB Daily showing 1) all time high and 2) the BUY pattern present

CLIFF NOTES (my wife says I’m to verbose and geeky (she’s correct) so she always says “just give me the cliff notes”)

IBB Biotech ETF is in the parabolic stage. Very tough to develop targets in this type of environment (straight up) but an attempt is made.
At the first sign of a daily signal reversal candle would look at closing a lot or all of any long position // take a crack at a short – it’s going to be a marvelous ride down

DETAILS:

if you click on the link below, you’ll see “real time” the EXACT high on APPLE using simple geometry we learned in elementary school:

Sir Issac Newton and $AAPL Fell From the Tree

per the title of this post, the basic effect of gravity has yet to be proven wrong. what goes up WILL come down unless we blow thru the earths atmosphere and cruise along in space w/ Sandra Bullock. And, why not? the stock market is NEVER going to come down and it’s different this time ….

but alas, someone has to try … the charts below are an attempt to 1)call for caution w/ regards to this parabolic rise and 2) demonstrate some techniques to obtain price targets. Full disclosure – don’t be impressed w/ AAPL. (see my GOOG posts) It’s simply PATTERNS and some work and some don’t. Most of the time they do …it’s an edge, I believe in that edge and the rest is history. ENJOY …