Bart's Charts

KRE – February 18, 2024

Posted on February 18, 2024 1 Comment

Here is an intraday look (30 minute) chart of KRE. A “near perfect” sell pattern has formed .. ideally, we would like the KRE to make a move up into the short zone.

Remember, IF this pattern fails (say that is a close (daily) above 62) then, I do imagine this will cause some fuel for the continued equity rally.

IF this pattern works THEN I’m afraid something ain’t right at the KRE world …let’s see what happens w/ the patterns.

DPZ – February 13, 2024

Posted on February 13, 2024 Leave a Comment

These are the type of shorts you wait for….which, of course, always means it could fail miserably so always have a risk controlled gameplan.

If we break from current levels then try some short … or go full short if you really want, but I’ve been burned not waiting for the ABCD but with the entire market making “a” a top (who knows “if” the top) then perhaps this is as high as it goes … again, it’s all probability.

But look at this one …. all the ratios present around 460 .. got to take a shot ….

Natural Gas – February 12, 2024

Posted on February 12, 2024 Leave a Comment

The Monthly (continuous contract) Natural Gas pattern has failed.

CTRL-ALT – DEL

UNG: expect support in/around 10-12, wait for a WEEKLY/MONTHLY signal reversal and BUY.

Take note of the RSI – haven’t pulled this rabbit out of the hat in a long time but – someone take a look and check on me – but the RSI LOWS ARE HIGHER while the UNG LOWS ARE LOWER.

CMT II (I think) – this is an RSI reversal. It refers to a situation where the RSI indicator moves in a direction opposite to the price, suggesting a potential change in the price trend.

At this point, that’s our only hope … first time I have EVER seen this in my charting history …

Put on your tinfoil hats …

TLT – February 2, 2024

Posted on February 5, 2024 1 Comment

For now, I see this as an A-B-C correction w/ a move down occurring which should be BOUGHT to take up into the mid 100’s – for now.

I say for now because I’m a little “stung” (not that bad but just “stunned” ) I didn’t see the size of the rally in equities. I admit it, I was too stuck into “another leg down” (which I wanted to BUY OBTW) but that “one more leg down” never came … and a parabolic blow off had occurred. Nailed the October low but … missed the move.

So, just like I feel comfortable stocks are setting up for a BIG MOVE down (now or soon’ish) I feel pretty good that the low we made was the end of a 5 count move. If not, then we finsihed a 3 down around 84 and we have another move down below 84. Who knows …

But, given that I am “correct” I have put realistic target up there because, in this current environment, the TLT could go all the way up to 180 and STILL be against the “trend” which – I believe started w/ the high back a couple years ago.

And that, for me, is the key … that was a huge thumping and, the ‘look and feel’, tells me this isn’t going to be ‘easy’ or ‘cut and dry’ – can you President Biden enjoying the FED “raising rates” during and election year? Or, certainly would love for him to “cut rates” and how in the world , seriously, is he going to do that …?

So, this was a GREAT run down in TLT -in which I played LONG TBT and still long and hold a position – but from a “time” perspective I just think we need more TIME so I’m looking to BUY TLT after I see what happens at 91.18.

THIS is important – February 4, 2024

Posted on February 4, 2024 1 Comment

Banks lead us UP and Banks lead us down.

https://www.cnn.com/2024/01/26/investing/premarket-stocks-trading-regional-banks/index.html

True, we have ‘some’ indexes making new highs but we also have some well below there highs in 2023. Market appears fractured …

DJ Utilities and DJ Transportation – lower highs.
DJ Composite, Russell, Value Line, SK&P 400 mid-cap – all down
Financials – still holding strong w/ regard to sell patterns
Junk Bonds still holding strong w/ regard to sell patterns
Multiple long term SELL PATTERNS completing

Until Junk Bonds and the Financials really break out … I’m very cautious.

According to EWT and the WSJ of the 11 sectors that make up the S&P 500, only 1, technology, accompanied the index to new all time highs. The other 10 are all at least 15% below their highs.

A key index to watch and one which will give us an idea of where we “really are” is the KRE …

Here is the SELL PATTERN forming on KRE:

The pattern, THUS FAR, has worked perfectly … if it keeps working the regional banks are in trouble folks and that means pressure on the equities.

Sorry, not all in on this rally in the overall equity world UNTIL KRE smoke this sell pattern w/ a WEEKLY CLOSE on strength above 55.

If KRE keeps going lower, something is a foot at the circle K.

IBM – January 30, 2024

Posted on January 30, 2024 Leave a Comment

Last posts on IBM:

Taking some off the table w/ IBM.

Let the rest run w a stop below 174 on a daily close. Polarity – support is resistance and resistance is support.

Certainly looks like a run to new highs …

Apple (AAPL) – January 28, 2024

Posted on January 28, 2024 1 Comment

Last post on AAPL: https://atomic-temporary-44460632.wpcomstaging.com/2023/09/12/apple-aapl-september-12-2023/

Well, looks like the “top of the circle” strikes again … I’ve been watching AAPL at a distance, not really paying attention to the company even though I have an Iphone and they know everything about me … more on that later, if you want. (?)

But, took a look tonight and there it was … the darn top of the circle was still holding the price action at bay .. like the above paragraph … more on that later, if you want. (?) 🙂

The key to me – like a lot of the charts I’ve been posting lately – this could end the final wave 5. Who knows … but, for whatever count you watch or listen to … I think we can see 5 waves up complete. so, this move lower from 196 should continue lower. Near term, expect the gap support around 184, to offer support or even a buy if your a max bull. I certainly would not … I’m not a max bear but I AM seeing a LOT of BEARISH PATTERNS (long term) appearing all over the place so … at least a “caveat emptor” would be appropriate about now. Only TIME will tell …