Chargers are doing really really well and the marine layer is a butt kicker this afternoon so the family is just staying put and relaxing …I enjoy coming up to the computer and drawing w/ my crayons. it’s relaxing .. sometimes, just to prove to myself I’m NOT crazy in the truest sense of the word (I can promise you, I still am) I’ll just pick a stock and “draw” – circles, squares, angles and just “prove” to myself that YES This stuff does work.
so I took WYNN … no reason, trust me.
OBTW – here’s some work on the WYNN top and the fall from grace so to speak: https://bartscharts.com//?s=wynn
Anyway … look at the chart on a LONG TERM basis and just pick a vector .. draw that vector as the radius of the circle and then draw the remaining vectors which compromise the remaining aspects of the Vesica Pisces. (OBTW and note – they are all square roots of the numbers 1-5. :))
Here’s the charts … I didn’t make this up, I picked WYNN and did the Vesica Pisces.
I’m pretty sure I know why it works (it ONLY works to help you manage risk) but on another note … I know why this “stuff” works … 😉
had some fun on @seeitmarket (www.seeitmarket.com) after the CES show in Vegas – http://www.seeitmarket.com/wynn-resorts-stock-chart-oversold-broken-14006/
WYNN is at crucial support. Note, the highlighted blue areas were former resistance and we have found support in/around 175 as expected.
I am showing the post below for a couple reasons:
NOTE, we tried in/around this area once the pattern had completed from the IPO. THE PATTERN FAILED … so, w/ sound money management a loss was taken.
After that, another alternate target was found w/ very nice price and time symmetry and it has worked.
WE DO NOT KNOW WHICH PATTERNS WILL WORK but WE DO KNOW THEY GIVE US AN EDGE!
Here’s a set of charts on WYNN that show the swings …
WYNN polarity
if we lose this level to the downside, then this is a big deal.
rock on, ok?
Bart
CLIFF NOTES:
the PATTERN from the IPO was crushed….
recent 3 month candles are HUGE!
the patterns shown are BEARISH.
FOR MY FELLOW CHART PEOPLE: the PATTERN in price was defeated, however, the PATTERN in time is MARCH. We’ll know…soon what will happen.
THESIS: IF WYNN keeps going HIGHER so will the stock market (bullish) HOWEVER, if people are BUYING a company that makes its living on speculation, tourism and “it didn’t happen here” Vegas — then isn’t it a contrarian indicator that this ENTIRE rally since 2009 is a house of cards? We will find out — soon.
WYNN “slaughtered” the PATTERN at/around 180 w/ a vengeance …. KABOOM!
Folks, it didn’t even whimper at a pattern that had it’s genesis from WYNN’s IPO …
So .. I asked myself, what the heck does WYNN do? Here’s the summary of the stock that people are buying:
“Wynn Resorts Ltd. develops, owns and operates destination casino resorts. The company operates through two segments: Las Vegas Operations and Macau Operations. The company provides hotel rooms and suites; table games; slot machines; a race and sports book; and a poker room of casino gaming space, including a sky casino and private gaming salons; casual and fine dining in food and beverage outlets; spas and salons; lounges; and boutiques. “
Full disclosure — I have stayed at the WYNN and, well, it’s amazing … if you get the chance, spend the extra bucks and do it. Well done, amazing service, first class! So, here’s the rub. WYNN, no matter how much net worth you have, is a choice and the last 3 months candles are the STRONGEST in the history of this stock. So, again, what am I missing? Sure doesn’t feel like the roaring 20’s right now or even the euphoria rolling into 2000.
Folks, this defies convention … when this puppy is hit by Sir Issac Newton, watch out below ….
for any of you who have followed this blog will attest – I simply live and die by the patterns. They are an edge …and edge is simply something that is more likely to happen than not. If I manage risk then the edge supports making money in the markets. I DO NOT care how one enters the market …there are more ways to enter the market than one could think and the brightest minds in the world are on the street coming up w/ all kinds of ways to make money in the market.
what works for me …? PATTERNS based on the fact that there is a collective ENERGY/VIBRATION to the market. And this ENERGY/VIBRATION repeats itself and because is vibration and energy then it will abide by the mathematics of musical theory, sacred geometry, square roots and blah blah blah …
my mentor and friend Mike Jenkins (www.stockcyclesforecast.com) taught me this very SIMPLE but POWERFUL method …. it’s total voodoo OR not ….
1. The Signal Reversal Candle on a LONG TERM chart is very very important. It’s the candle that erases the “emotion/energy/vibration” of the proceeding bull or bear market. It “usually” occurs on a MONTHLY chart.
2. Once you have a well defined MONTHLY SRC then, IF YOU BELIEVE THE MARKET IS MUSICAL (cliff notes: I do) THEN you simply use that SRC as the seed and define it as the UNIT which will define a run UP or DOWN.
3. In this example of the S&P you can see the SRC and how we simply sub-divided it and PROJECTED up into the 1996 area. That target “completes” this run …
4. As you are well aware this is an EDGE! Right … it’s a target and an edge that MIGHT work or MIGHT not but, I’m certainly aware of this target. Look at what happened to the PATTERN on HD – it got smoked today. That same pattern STOPPED IN ITS TRACKS – the DAX, Boeing (BA), WYNN, IBB (buy), etc etc ….so, it’s all probability and that’s OK, for me. Also, don’t use it alone … work your own technicals, moving averages, oscillators, fundamentals – whatever – but be aware of these levels.
5. Last thing – I’m going to pick two or three securities that I have NEVER done this before and just do this technique and see what happens. Not that many, but a couple because, well I’m tried after Bikram Yoga.
Hey, hope you are having a great week!
Bart
1/8 th intervals of the Signal Reversal Candle
NASDAQ targets … note the .68179 target
in my mind, the only Voo Doo out there is the Federal Reserve …
FOR MY FELLOW CHART PEOPLE: the PATTERN in price was defeated, however, the PATTERN in time is MARCH. We’ll know…soon what will happen.
THESIS: IF WYNN keeps going HIGHER so will the stock market (bullish) HOWEVER, if people are BUYING a company that makes its living on speculation, tourism and “it didn’t happen here” Vegas — then isn’t it a contrarian indicator that this ENTIRE rally since 2009 is a house of cards? We will find out — soon.
WYNN “slaughtered” the PATTERN at/around 180 w/ a vengeance …. KABOOM!
Folks, it didn’t even whimper at a pattern that had it’s genesis from WYNN’s IPO …
So .. I asked myself, what the heck does WYNN do? Here’s the summary of the stock that people are buying:
“Wynn Resorts Ltd. develops, owns and operates destination casino resorts. The company operates through two segments: Las Vegas Operations and Macau Operations. The company provides hotel rooms and suites; table games; slot machines; a race and sports book; and a poker room of casino gaming space, including a sky casino and private gaming salons; casual and fine dining in food and beverage outlets; spas and salons; lounges; and boutiques. “
Full disclosure — I have stayed at the WYNN and, well, it’s amazing … if you get the chance, spend the extra bucks and do it. Well done, amazing service, first class! So, here’s the rub. WYNN, no matter how much net worth you have, is a choice and the last 3 months candles are the STRONGEST in the history of this stock. So, again, what am I missing? Sure doesn’t feel like the roaring 20’s right now or even the euphoria rolling into 2000.
Folks, this defies convention … when this puppy is hit by Sir Issac Newton, watch out below ….
