Home Depot Rocketship …. $HD the math stopped it, for now (?)
Posted on June 9, 2016 Leave a Comment
06/09/2016 – so, the top of the circle and the math appears to have worked on targets for HD.
- again, have ZERO idea about the fundamentals
- just drew a circle w/ the radius equal to the biggest corrective move in it’s history
- obtw, the bottom of the circle is support in/around zero price so the top of the circle
- the blue arrows are the “measured moves” of HD throughout it’s history
- the “geometry” of the Adams Pitchfork from the IPO and all time low was simply copy/pasted and the median line stopped the rise in it’s track
learn to use crayons, it’s much easier than reading a 100 page document on HD and it’s fundamental stuff
believe this could be a significant top for HD …
Well, every other pattern level has been defeated so why not the one’s shown below? We have a bunch of math coming in …130-135.
stay tuned.
Crude, Loonie, Oil Services Index (OSX)
Posted on June 7, 2016 Leave a Comment
they move together … looking for a SHORT OIL, SHORT OSX, long USD vs LOONIE.
B
TLT update ..
Posted on June 6, 2016 Leave a Comment
TLT – the daily sell pattern, in FEB 2016, has held and the move down today was helpful. this pattern fails if we get above 133-134.
Watch, closely.
Bart
I STILL think this is a big deal … Utilities
Posted on June 6, 2016 Leave a Comment
06/06/2016 – were rolling right up into the target zone w/ monthly bearish divergence. yes, I still think this is a big deal and begs of caution … in 26,854 days Utilities have never gone farther w/out a major correction. Questions?
going to show this chart again of the Utilities … watch closely, the upper target is pretty darn close. Since the low in the 1940’s the Utilities have never gone farther than this (or close to this – still some upper targets) w/out a major pullback.
VXX …what a mess
Posted on June 5, 2016 3 Comments
06/05/2016 – taking a look at VXX for a friend. not sure what to say … I can see a “daily” BUY set up in a butterfly but this thing is simply dead.
interesting to see the increase volume even though it hasn’t budged. I bet it’s everyone betting on the crash that’s never come .. buy VXX, close VXX, buy VXX, close VXX.
So, not sure what to tell you … what I can say is that tomorrow should be a cycle turn date so it “should” turn down but who knows.
sorry, wish I could give you more information ….
B
Chinese Yuan and Apple ($AAPL)
Posted on June 5, 2016 Leave a Comment
folks, knowing what’s going on in the currency market is so crucial .. not only does it completely dwarf any other market out there in volume/volatility but it also play such a crucial roll in the flow of funds, affects on commodities, etc.
back in 2015 I posted “the most important chart of 2015″ and it was the Chinese Yuan: https://bartscharts.com/2015/12/09/most-important-chart-to-end-2014-revisited-in-december-2015/
I was aware that $AAPL did a bunch of manufacturing over there and, in the past, had shown the correlation of the price of Palladium to $AAPL stock. You can check that out here – https://bartscharts.com//?s=palladium
it’s take a little bit of time – imagine that – but as the entire world was wondering ….”hmmm, I wonder if the Chinese are done letting the Yuan gain strength against the USD” $AAPL was making it’s all time high and digesting this same thought .. (see dashed red rectangle below). The Chinese answered the question w/ a BIG EXPLOSIVE CANDLE … Answer: guess this move weakening the Yuan is real.
Now $AAPL. Note, when the “big move” came by the Chinese AAPL cracked and, since then, has been correlating nicely w/ the swings in the Yuan.
So, cliff notes, pay attention the Chinese Yuan and $APPL together …will this correlation break in the future? Probably but for now as the Yuan continues to weaken against the USD, $AAPL sure seems to be having a tough time …
Let me know if you have any questions … continue to make it a great weekend wherever you are….
B
PS – here’s some work for $AAPL over @seeitmarket
- http://www.seeitmarket.com/aapl-stock-update-heres-bullish-aapl-buy-setup-15618/
- http://www.seeitmarket.com/apple-nearing-major-wave-completion-aapl-price-targets-14114/
USD vs ZAR (South African Rand)
Posted on June 4, 2016 Leave a Comment
what an amazing and parabolic run … overall I see it correcting into the pattern on the weekly but am going to have to watch the most recent swing action (the big candle from Friday) to see where it goes next.
note the corrective move (orange dashed line) that lines up exactly w/ the projection … right now, that will be the best place (IMHO) to get long the USD vs ZAR. However, nothing IMMEDIATE from a pattern perspective as far as I can see.
hope this helps Jeremy and thanks for the questions and following the blog ….
BREXIT – fundamentals are noise, use the charts …
Posted on June 4, 2016 Leave a Comment
06/04/2016 – fist off, Gerard, thanks for visiting the site, asking questions and watching this AMAZING development.
Folks, I honestly don’t know which way the “vote” will go but it ranks up there w/ one of the biggest deals out there. Easily, the vote will “kick the can down the road” OR destroy the Euro-zone. It’s that simple …
this is a big deal … but PRICE and TIME tell all. So,, here’s an updated view of the pound. I really don’t know how to play this .. I will watch and sit on my hands as the vote is announced. the VOLATILITY in the FX markets is going to be huge. As a sample, I’m going to show charts of the “peg” being removed on the Swiss versus Euro. It looks so easy – but trust me, unless you have a lightning quick professional trading station – STAY AWAY. If you look at the BIG CANDLES on this chart, you’ll see, after the carnage, there has ALWAYS been a chance to get in …
Head and Shoulders Scenario (first chart): as for me, IF (I have no idea if it’s going to happen OR not) the trend line breaks then how about a shorting a retest of 23 year long neckline? wish I could provide more “exact” detail .. I can’t. What we can do is see that the Pound vs USD has not closed below the neck line in 30 years.
Bullish PATTERN foldback Scenario (second chart): just follow the bouncing ball … the swings have been EXACT.
Hope this helps .. no bias, no thinking, just look at the charts and go w/ the flow ….
Folks, this ranks up there as a “big deal” so watch this one carefully as theirs a potential the POUND busts wide open and moves 3000+ pips if we have a MONTHLY closing below the neckline.
Bart
Polarity on DB
Posted on June 2, 2016 Leave a Comment
06/02/2016 – Triangles – look SO GREAT after they complete. when your in the middle of one (reference daily/weekly EURO vs USD) you get chopped up and frustrated till you erase your chart and then the c-d-e legs appear. then it’s simply so hard to wait for “e” to complete but you have to …the move out of “e” is “usually” swift and strong … so, this triangle is so perfect in so many ways
- trend line definition
- the length of bc and cd are “usually” .618/.68179 (think music) of the proceeding wave
- none of the moves are showing any major momentum or thrust ….
CONCLUSION: very near a daily triangle completing and then another dump on DB. What the f&^% does this mean for the Euro-Zone and, well, let me just throw it out there .. the derivatives that DB is backing? People lot smarter than me probably know.
Stand by ….
Bart
Bart's Charts 