NVDA
Posted on November 12, 2017 Leave a Comment
11/12/2017 – been almost a year since we looked at NVDA. Below you’ll see the area ID’d for a correction. This level did hold NVDA at bay and the price stayed here for roughly 6 months and THEN EXPLODED. It’s going parabolic so at a certain point, it should fall like a rock but for now the beat goes on …
did some basic price techniques that show this area ‘should’ hold it or cause a pullback. it doesn’t have to but it appears that 1700% moves usually cause consolidations or corrections and, yes, you read that correctly: 1700%. What a rocket ship.
also, you’ll see what happens in the 3rd chart below what happens when the velocity final runs out of gas … it has to fall back down to earth.
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was asked to take a look at NVDA.
what an amazing parabolic run and that’s what scares me right now … parabolic explosions do not end well so I expect now to very soon a very violent and CORRECTIVE move … however, I’ll watch this stock to find, hopefully, a pattern to BUY because this entire moves feels like a 3rd wave so another leg up is coming but for now … watch for weekly/monthly signal reversal candles to get defensive.
also, note the ‘extreme’ reading on the RSI. there is no bearish divergence, yet. so, it certainly appears that it needs/wants to correct from current levels to ‘set-up’ the bearish divergence play when it gets to new highs. but, again, this correction starting/coming is from a parabolic move so don’t get spooked if it’s violent and much more deeper than anticipated – it’s just working off the parabolic energy that blew it out.
the monthly signal reversal candle level is roughly 85, still a ways away. for now, that corresponds to the ‘top’ of the log trend line is broke out above earlier this month.
hope this helps …
B
GPRO
Posted on November 11, 2017 Leave a Comment
just sent over an update to GOPRO for Andy and the gang @seeitmarket.
here are the two charts … if we lose the daily pattern to the downside then a move to 4 isn’t out of the question …wow, hugh?
the last time this happened the market corrected 26 percent …
Posted on November 9, 2017 Leave a Comment
11/9/2017 – as you can see below and on other post we have been hawking the ratio analysis of XLP / NYSE Index. Won’t go into the why here as that has been done a number of times.
some key points to consider:
- we have completed the EXACT measured move correction and biggest since the 2009 lows.
- the last time this happened the market corrected 26% – just calling it like I see it.
- from a timing we are still not in the ZONE so it could shuck and jive here …
- RSI has hit the lower end of the range BUT note it banged around this level for a while as the market (overall market) kept going higher into 2000. so, it doesn’t HAVE TO cause a reaction.
- and, one last, today the market lost some ground right as the ratio was completing the measured move that we’ve been talking about for weeks if not months. questions?
- two charts – an update to the ratio and the NYSE Index showing how it delayed for a month once the ratio bottomed and then sold off 26%
keep an eye on this ratio!
NYSE Index showing correction once the ratio bottomed
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10/26/2017 – as you know, we were looking for support to hold on a .382 retracement of the XLP/NYA ratio. this support would cause a bounce or a move higher in the ratio and therefore bring volatility into the market. NOT EVEN CLOSE … that level has been pierced and now lower targets are shown.
folks, if your thinking of shorting I would wait .. when .382’s from all time lows don’t even cause a weekly/monthly move then something bigger is at hand going on …
I did some basic cycle work to show a time zone when the next support could come in December 2017-April 2018.
Until we elect a weekly or monthly signal reversal candle in this key ratio I wouldn’t touch the short side.
Bart
XLP / NYA ratio analysis update
Posted on October 26, 2017 Leave a Comment
10/26/2017 – as you know, we were looking for support to hold on a .382 retracement of the XLP/NYA ratio. this support would cause a bounce or a move higher in the ratio and therefore bring volatility into the market. NOT EVEN CLOSE … that level has been pierced and now lower targets are shown.
folks, if your thinking of shorting I would wait .. when .382’s from all time lows don’t even cause a weekly/monthly move then something bigger is at hand going on …
I did some basic cycle work to show a time zone when the next support could come in December 2017-April 2018.
Until we elect a weekly or monthly signal reversal candle in this key ratio I wouldn’t touch the short side.
Bart
Bart's Charts 