Get started

Shortsqueeze

$SPY Will History Repeat Itself? #SPXI am by no means a bear, but I do think that this is something to keep an eye on. Historically, rising wedge patterns have resulted in breakdowns and market corrections. We can see this in 2018, and 2019-2020, as well as our current wedge looking like its about to top out. The yellow line has previously acted as a long term resistance level going as far back as 2014, we broke that level in November of 2020, which gave us a bull run breakout over the trendline. As we now reach the top of the wedge, I feel skeptical of how long buyers will be willing to keep forward momentum as inflation rises, supply chain problems, as well yields rising as bond traders anticipate the Fed raising rates, which I do see as one of the few options they have to combat rising inflation. If we look at the technical patterns, we see that historically, rising wedges have generally resulted in breakdowns. A pure technical analysis obviously cannot assume a market breakdown, but there are catalysts that are currently instilling fear and bearish sentiment. We can also look at a 4HR chart and analyze more recent price action and patterns to see potential paths for SPY. Looking the 4HR, we can see there is also a rising wedge within the long term wedge, indicating again, a correction. A wedge in a wedge, if you will. If a correction is coming, levels to look out for to find support is the $380 level. The $380 level is important because of fibonacci wave extension showing support in the $380 level IF a correction is coming, and that extension is based on the previous ATH in May, to yesterdays ATH. So we have our first reason to why $380 is a crucial level. Second, we have the long term trendline shown in yellow, that was a major resistance level on a year to year basis, we broke through that trendline, which would indicate it now being a support level. This level also points towards the $380 level, giving us our second confirmation to why $380 is so important. Lastly, the major resistance levels in respect to February of 2020's all time high to the trend based resistance levels shown within the purple channel. If SPY continues to show strength for the time being, I expect heavy resistance near the 430-435 level. Opinions welcome.
AMEX:SPYShort
by chartxzy
8
BTC Wyckoff Accumulation Pattern During this accumulation period, i've been studying wyckoff accumulation pattern. By now i personally think that i have enough data on the chart to confirm this pattern, though i could be wrong. If this theory is correct we should be heading towards the SOS (Signs Of Strength) area and likely heading upwards to the 0.702 fib level. Between the 0.618 and 0.702 fib. level is a decision time area for btc imo. It is where price will decide if we gonna go set a new ATH or are we just doing a retracement rally before heading back down. In my opinion bulls will win and btc will hit that 75-90k target area this bull run. Right now we seem to be having a short sqeeze. I am not a financial advisor and non of this should be taken as a financial advise. BITSTAMP:BTCUSD
BITSTAMP:BTCUSDLong
by AVA37
3
Consolidation Phase is Complete $GRAY #GRAYBUG #BREAKOUTLet's Make Lot's of Money "Bulls want to see consolidation on low volume and for Graybug Vision’s stock to hold above support at $5.04. After a period of consolidation, the stock could make another run up toward the $7 mark and, if it can push over that level, it would become support. Graybug Vision could then make a move up toward $8.65. Bears want to see big bearish volume enter the stock to drop it back down under $5. If the stock was unable to hold the level it could fall down to $3.51, which would also cause Graybug Vision to lose support of the eight-day and 21-day EMAs." -Business Insider
GLong
by decentLizard88297
Macy's? I'm Long LmaoKinda doing this one for fun, it's cheap with low risk. (Tight stop). Macy's is at a pivotal point, and is trying to reverse the bear trend, which is still apparent on the weekly chart. Fundamentally, it's a dead business, with -$259M in revenue and with insiders owning only 0.12% of shares. Long term is still bearish but I think price action is just doing it's thing on the daily. Also was this stock targeted by the short squeeze crowd before? Regardless I just think the chart looks kinda neat on the daily lol.
NYSE:MLong
by barrycharts
1
GME gearing up for more upsideAs predicted in my older posts, GME is now nearing the completion of the Cup and Handle pattern. This is very bullish, and indicated that it is ready to continue its long term upward trajectory. The long term trend we see with this pitch fork from the ATL to first peak and next low outlines that we should be expecting another test of the top of the 1x trend line at around 760 to 800, and after that, we could even see a run to the 2x trend line like in January at around 3000 to 3200 within a months time. This is the best case scenario. I consider this trend invalidated if we fall below the purple zone between 90 and 80.
NYSE:GMELong
by baumulrich