Gold – October 15, 2023
Posted on October 15, 2023 2 Comments
Last post on Gold: https://atomic-temporary-44460632.wpcomstaging.com/2023/08/16/gold-august-16-2023/
I did NOT get filled on my resting buy order for Gold. Will now try to work into a LONG Gold position.
If this count is correct, Gold is off to new all time highs in a 5th wave …the 3rd wave of this 5th wave is, more than likely, just starting.
USO – October 05, 2023
Posted on October 5, 2023 Leave a Comment
Last post on USO: https://atomic-temporary-44460632.wpcomstaging.com/2023/05/21/uso-may-21-2023/
A very nice target has come into play for the BUY I’m looking for w/ regard to USO. Please see below.
Chart Summit 2023 – September 27, 2023
Posted on September 27, 2023 1 Comment
what an amazing opportunity to present w/ all the amazing technicians at the Chart Summit. JC – you’re the best …
High Yield Index – Option Adjusted Spread – September 21, 2023
Posted on September 21, 2023 Leave a Comment
My good friend Jerry over at https://growmytsp.com/ sent me a chart over last night and, using basic measured moves, you can see the “rhythm” and moves of this index. Since the low in 2022, it’s been the same percentage move UP and same percentage move DOWN. (green lines = up and red lines = down)
We are at, or perhaps a little lower, pretty significant support …
why is this important .. I’m not gong to bore you w/ fundamental analysis about credit spreads and all that when a picture paints a thousand words …the picture below is saying “when I bottom, the S&P tops.”
Junk Bonds – September 21, 2023
Posted on September 21, 2023 3 Comments
Last post on JNK: https://atomic-temporary-44460632.wpcomstaging.com/2023/08/16/jnk-august-16-2023/
On the daily chart below the JNK gapped down today and closed below (daily) the two trendlines we have monitoring. On the “good” and “other” scale this is an “other.”
That being said, the REAL trend line that is CRITICAL is the second chart … a daily close below that and we might have the nascent beginnings of a credit event on our hands …
S&P 500 – September 14, 2023
Posted on September 14, 2023 2 Comments
Extremely important pattern appearing on the S&P 500 / ES tonight. As I was cruising the charts I noticed this SELL PATTERN on the cash S&P 500:
The reason this is so important is the most recent high is “supposed” to be the second wave / b-wave high and we “should” be going down … failing this pattern STILL gives weigh to the higher target shown and we have that BIG GAP to fill so it’s not a “sure thing” for the bulls but I live and die by the PATTERNS and this one is a nice one … if you see (not labeled) the 3 wave move to the recent high that we are shorting fits ‘nicely’ into a 2nd wave and, again, we “should” be going down in/around here and pretty much, now …
why now? let’s go to the ES
I like the “concept” of square outs as it’s pretty simple … price equals time. so xyz many points down converts to days and then you use calendar days (in this case) to project a future “square out” of price and time.
in this case, the market fell 283.75 points and, moving a decimal (trust me we can do that – go read or follow Mr. Robert Edward Grant – he’ll explain it. Too long to do here … anyway that becomes 28.3 calendar days and, from tomorrow 09/15/2023 if you go back that many days you get the low at 4350 on 08/18/2023. A “square out” takes place on the E-mini tomorrow and it’s up against a BIG resistance zone – sure looks like a short too me? Doesn’t it?
Apple (AAPL) – September 12, 2023
Posted on September 12, 2023 2 Comments
Last post on AAPL: https://atomic-temporary-44460632.wpcomstaging.com/2023/08/07/aapl-august-7-2023/
Well folks, here’s a VERY important level for the market. We are all pretty aware that “as Apple goes, so goes the market.” Now, of course, you have the FANG and all that but Apple is pretty important.
As I was taught by Larry P – in a bull market, it’s always wise to BUY the ABCD.
Guess what – we have a PERFECT BUY set up for AAPL. And, on a daily timeframe.
Pay attention to this level .. it sure looks like a 3 wave (green arrows) move to new highs (perhaps a “b” wave” ) and now we have a 5 wave decline starting that “then” must be bought. Or, is this a wave 4 to finish a 5 wave sequence up? Welcome to Elliott Wave. 🙂
From a pattern perspective, we have a “near perfect” BUY PATTERN on APPL approaching. I would “expect” some support and if this market is bullish then perhaps AAPL will take off?
I can tell you that if we fail to the downside and this level gives away w/out even a hinkering a fight then the entire market will be under significant pressure.
So, this is why I like the PATTERNS so much. I turn off the news as much as I can … yes, I saw some news somewhere about China and the I-phone and blah blah a day or so ago but I posted the “top of the circle” weeks ago .. no idea. Folks, prove it to yourself, the news breaks w/ the cycle.
So, WATCH THIS LEVEL ON AAPL CLOSELY … it’s a big deal.
Bart's Charts 