NYSE Index – 2 percent’ish higher and we have a BIG PATTERN
Posted on December 22, 2019 Leave a Comment
Folks,
it’s nothing but a pattern .. in this case, from the all time low in 1974 we have AB=CD. You can see the math below …additionally, we have the 1.618 extension w/ in 10 points of this level. The levels are less than 1% away from each other. to add some more fuel to the fire we can easily see the monthly bearish divergence present on the 14 period RSI and then the key trend line that tagged the October of 2007 high and, most recently, the January 2018 high …
now, I want to explain something about PATTERNS. I’m not calling a top or making a call or any of that. folks, it’s simply a pattern. I saw a expanding triangle pattern on the DOW – that failed. when we look at patterns you can play it any number of ways. you can 1/ take profit if long or 2/ tighten your stop and watch for a monthly signal reversal candle or 3/ short at the level w/ a stop according to your risk patterns or wait for a weekly/monthly signal reversal to get short. then again you could 4/ do nothing … or if you want to get long – wait for the level to be breached to the upside and then WAIT and o a pullback it will come back to that old level and then trade against that from the long side …
so you see, it’s just a pattern and, because of the long time frame that has made these patterns (AB=CD and 1.168 extension) it is something we need to pay attention to …
it’s only 2% higher …
have a great Christmas w/ family and friends. if you celebrate something else, celebrate as GREAT as you can.
happy Festivus to the rest of us and be good …
Bart
Home Depot
Posted on November 23, 2019 Leave a Comment
quite the run w/ regard to HD.
here you’ll see some projections and extensions (3.142 and 4.236 respectively) showing the ‘why’ behind the current resistance. would watch a weekly close below the red trend lines as a signal that a deep correction is/had unfolded.
as you can see by my count, I’m seeing this as 3 so after this correction it ‘should’ roll to new highs.
Bart
Utilities
Posted on November 10, 2019 1 Comment
been working out Utilities: https://bartscharts.wordpress.com/2019/06/08/utilities-again-ugh/
honestly, the strength is palpable and, knowing how much I trust measured moves, was somewhat ‘surprised’ at the lack of respect the Utility sector gave to the ‘math’ and PATTERNS.
so, were at a juncture, again. see the chart below … I did the “how to use what you learned in kindergarten to draw circles and one could make the case that they are not ‘parabolic’ yet.
as you can see, the blue arrows show a symmetrical 3 drives to a top w/ both price and time confluence. reacted a little and then blew right thru it .. failed pattern. now we see a 3 drives and a doomed house pattern … also, did some measured move math and we have the square root of 5 and the square root of 8 present at the high. that’s the math for the resistance ….
a weekly close below the 3rd high in/around 778 is key that we have reached an important high for now.
that being said, this is an important sector to watch for now.
here’s a peak at XLU – ETF for utilities.
Ratio … appearing again
Posted on November 3, 2019 Leave a Comment
if you have been following me for a while you know I love the XLP / NYA ratio … well, it’s showing a very nice BUY pattern which ‘should’ (if it works) signify a SELL equities.
here’s the chart …
Canopy Growth – BUY pattern complete
Posted on October 15, 2019 Leave a Comment
last post on Canopy was here: https://bartscharts.wordpress.com/2019/08/25/canopy-growth/
looks like we have hit the pattern …have some nice timing w/ the ‘square out’ of Venus (H) moving 581 degrees from the high. you see PRICE is TIME is ANGLES and they are interchangeable.
so, from the low we move roughly 58.12 POINTS (price) and Venus from that high moved 581.2 degrees. the other nice ANGLE (angels in the Bible) is the fact that Sun/Venus were at the angle as the high.
anyway, nice pattern here. use a daily close below the .786 as a stop out and a consideration that this puppy failed.
Bart
S&P 500 futures – update
Posted on August 31, 2019 Leave a Comment
09/12/2019 – market blew thru the pattern level and is very close to setting new highs in the ES. This represents a failed pattern … if you look we have some numbers coming in right below old high but as far as the VERY NICE sell pattern that was present – it’s cooked.
back to the drawing board to look for ANY pattern out there … no idea which ones work or which ones don’t … it’s all probability folks. going to take a look at my trusty XLP/NYSE or XLP/NASDAQ for a clue.
09/05/2019 – sell pattern complete.
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First off – all over the world – have a great weekend and enjoy family and friends.
second, we have another ‘pure play’ SELL pattern developing that could get tagged in the Asian and European markets (US markets closed on Monday)
this pattern has pretty much all the ingredients that the BUY pattern last Sunday night in Asia was hit.
we have a projection (black dashed arrows), a 1.27 extension (square root of 1.618) and a .786 retracement (1/1.27) all coming together …
also, remember square roots and the inverse of square roots ties in the frequency of a string so that’s where the numbers come from …
As Mr. Tesla said .. “to understand the universe think of terms of vibration.”
Yup – Bart
Here’s from a week ago and our last post before some travel
Here’s the update for this coming week:
Sunday night … rocking and rolling
Posted on August 25, 2019 Leave a Comment
as expected, we are rocking and rolling on Sunday night (08/25/2019) – no doubt it’s going to be an interesting day tomorrow.
as you can see, the futures did gap down, but found support perfectly on the BUY pattern at 2811. this level is key to hold overnight and over the coming couple of days ..
additionally, watch 2785-2787 for “other” support …
Canopy Growth
Posted on August 25, 2019 1 Comment
when looking for a pattern (BUY or SELL) we do 3 things .. project, extend, retrace.
in the case of CGC we have a ‘zone’ of support in/around 16.50-20 to look for a buy pattern.
the projection – in this case the simple one is the blue arrow and we have the classic AB=CD or measured moves of equality …
the extension is 1.27 and it lands on the .707
the retracements are drawn from multiple nodes (lows, all time lows, gaps, etc) and they all come in around our zone. the .707 retracement is a by product of the square root of 2 = 1.4142 and it’s inverse 1/1.4142 = .707. Square root of 2 is a big deal w/ regards to numerology.
when we put all this together we get the zone sighted above .. .additionally, note that back in 2017 (when it was only traded on the Canadian Stock Exchange) the largest correction was roughly 65%. if we take a look at the dashed red lines we see that same corrective move – 65% – is present in/around our pattern level.
I’m ‘bullish’ cannabis in general and this appears to be a nice opportunity to get LONG CGC.
hope you had a good weekend.
Bart's Charts 