AMZN – April 27, 2023
Posted on April 27, 2023 2 Comments
hard to believe that I derived the targets shown above below in January. pretty crazy.
what was important about today was AMZN performed a calendar day square out. in the world we live in (i.e. if your reading this blog) PRICE and TIME are the SAME THING. PRICE=TIME and TIME=PRICE. So, a PRICE of $50 dollars will spin off TIME cycles of 50 minutes, hours, weeks, days, etc. etc.
the famous WD Gann said you can square out a HIGH, LOW or a RANGE. In this case, the RANGE from the ATH to the most recent January low was 108 points. We take 108 points (note – you can move planets helio or geo based on this square out and you might want to try it … 😉 and convert that to 108 calendar days. that was today …. from the low on January 09, 2023 we add 109 calendar days and that day was today.
My issue (we all have them) is I found the square out but the pattern was SO FAR AWAY that I was a little confused. WE LIKE TO SEE SQUARE OUTS IN TIME WITH CORRESPODING BUY OR SELL PATTERNS…. so what to do.
Well, well, well … today was an earnings call for AMZN (had no idea) and guess what after hours it went up and tagged the pattern on the day of the square out.
GO FIGURE … no idea what the earnings were or weren’t.
Be short AMZN below 122.
TSLA – April 27, 2023
Posted on April 27, 2023 1 Comment
Last post on TSLA: https://atomic-temporary-44460632.wpcomstaging.com/2023/04/05/tsla-update-april-5-2023/
If correct, TSLA is off to new highs. Stops to remain below the lower green gap area ~145.
Banking Index – April 24, 2023
Posted on April 24, 2023 1 Comment
Last post on the Banking Index: https://wordpress.com/post/bartscharts.com/21122
Well, guess you can say “here we go” or “lets get it on” (cue UFC John McCarthy) …
Banking index has complete the ABCD from the low and the “scary” times … it’s all good, correct? Well, guess we will just have to wait and see.
Next stop: 66-68 or lower. Guess we’ll just have to wait and see, right?
Longer term targets below …
note, the next chart is LOG SCALE
VIX – April 23, 2023
Posted on April 23, 2023 Leave a Comment
Last post on the VIX: https://atomic-temporary-44460632.wpcomstaging.com/2023/01/20/vix-january-20-2023/
The VIX reacted to the first ABCD in/around 17 but that “bigger” ABCD laid in wait. It has been hit ….
I just got back from my SUP Veterans Retreat and have been completed off the grid for a week. DO IT – just like Mikey, you will like it.
Anyhoo, always great to see things w/ VERY fresh eyes and … check this out.
The TIME down from the 2020 spike in the VIX is equal to the TIME from the spike high in 2022.
Throw in the ABCD and you have a VERY important level to watch on the VIX.
S&P 500 – April 09, 2023
Posted on April 9, 2023 1 Comment
Last post on S&P 500: https://atomic-temporary-44460632.wpcomstaging.com/2023/03/21/dollar-and-stocks-march-22-2023/
All eyes remain on the USD. we have a large target looming a little lower.
That being said, we are approaching a very critical time from a cyclic perspective. We have also completed a “valid” SELL pattern on the SPX. So, we either start down early this week or we blast thru the pattern higher into more targets.
Either way, I DO NOT think that the market is done going down. We have more waves lower … the timing will be dependent on the US DOLLAR and the PATTERNS present.
TSLA (update) – April 5, 2023
Posted on April 5, 2023 2 Comments
Last post on TSLA: https://atomic-temporary-44460632.wpcomstaging.com/2023/03/08/tsla-update-march-08-2023/
Well, the BUY PATTERN shown in the last update hit, went thru it a bit, and then started back up. If you look on this two hour chart, you can see that 5 waves up are complete from the low at (2) so, IF that (2) is correct, then expect 173-174 to hold and TSLA continues on in a 5th wave. Yes, know this sounds crazy but calling it like I see it, for now.
If we lose that lower 173-174 level then I’ll seek the “daily gap zone” as the next level to get LONG TSLA. Lot’s of math in that area …
So, either way, believe there isn’t any evidence, yet, that TSLA will continue it’s march higher either from a little lower or at the “green daily gap zone”
PHLX Semiconductor Index – April 05, 2023
Posted on April 5, 2023 1 Comment
Lot’s of fundamental information out there about China and sanctions and blah blah. Something about semi-conductors and blah blah.
So, took a peak at the PHLX Semiconductor Index and it smashed into a pretty nice SHORT PATTERN ZONE (abcd, 4 ratios, gap (small), other stuff) and, just doing some back of the envelope math, if you take the square root of the high and round up you get 64 and, guess what, 64 weeks ago was the top on January 04, 2022.
All this means is the PATTERN is complete/completing. IF/WHEN (?) we blow thru this level to the upside, then it’s a failed pattern and the SOX should run to the .786 ish and the “red crossover” a little higher and then to new highs.
But, the SELL ZONE looms large, for now …
Natural Gas/UNG – April 4, 2023
Posted on April 4, 2023 3 Comments
Last Post: https://atomic-temporary-44460632.wpcomstaging.com/2023/03/20/natural-gas-ung-march-20-2023/
Well, the pain cave continues as I’m keeping my position and searching for a “low” in UNG. I’ve updated the count because recent price action has gone below the low made in 2021 (UNG) but, as you can see, the futures has not broken below the low. UNG and the futures “try” to go in concert but, as you can tell, they aren’t a “perfect” one for one match.
Man, to think I was holding this puppy up at 34 and ‘expecting’ a pullback … a complete wipeout, and now a losing position to boot? This is an example of horrible investing. Period. But, I’m sticking with it as I do see a low approaching or here.
I LIKE the MONTHLY MEASURED MOVE PATTERN THAT IS SHOWN BELOW. ITS A PERFECT MATCH IN PRICE AND TIME. But, that doesn’t mean it won’t fail, of course, but these MONTHLY MEASURED MOVES don’t usually fail. In fact, I’ve really never seen it happen. No kidding.
The UNG chart shows another (my counting is like my golf game, remember?) valid count and we are completely a “b” wave that broke the low but it “should” be bottoming here or nowish … there’s a subwave count I’m watching which I will update depending on what happens over the coming days/weeks. But, either way, the next major move “should” be UP for UNG.
We are tickling the 1.05946AB=CD and the 1.732 extension from ‘a’ (purple) … basically an ABCD into a 1.618/1.732 extension SHOULD provide support for the next move up .. BUT, it doesn’t have to.
Hang in there w/ me ….
EUR.USD – April 04, 2023
Posted on April 4, 2023 Leave a Comment
Some extremely important “polarity” principles are being tested w/ the EUR.USD currency pair.
The principle is that “former support” will become resistance or vice versa. In his case, we have the low from 1985 and the low from 2000 showing former support that, now, SHOULD be stiff resistance.
If we power thru this level then the .618 retracement (note measured move orange arrow) looms as the next big resistance level.
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