MrAndroid

MrAndroid

The Yen has been in the post head and shoulders triangle pattern, just about holding at support for a few weeks now. This chart has at last shown a significant downside move. I see a true crisis brewing for the Yen. The central bank of Japan may simply run out of ammunition.

MrAndroid

The current monthly chart pattern for SPX appears to be an ascending broadening wedge, a bearish pattern contrasting with the prior pattern of a bullish descending broadening wedge which is now mirrored. Evidence of a further decline in momentum is that the monthly RSI shows divergence.

MrAndroid

The Yen v Dollar having already started the plunge out of a very long term head an shoulders move with resistance confirmed is now at the bottom of a descending triangle pattern. A failure to reverse this pattern and go lower could mean a dramatic slide in the Yen. It is not surprising that the Japanese Central Bank announced a rate hike. Generally everything they...

MrAndroid

I drew this parallel channel in an attempt to get some kind of clue as to when the mighty Nvidia might finally see a serious correction or trend reversal. It uses the mid line to show points of trend bounces. There is also the current channel which could intersect with the upper boundary of the main channel soon. Note that this is just a sketch. There are not...

MrAndroid

META has risen 20% today. This is on top of very significant gains over the last year. I would be very reluctant to chase this now because there was a clear potential channel from several support points to the previous all time swing high that could now come into play.

MrAndroid

Last night on the Asian markets gold broke out above resistance in what was a very promising long term inverse head and shoulders pattern. But is it all a big fake out? The daily candle is currently a big shooting star with price being below the resistance line. It remains to be seen whether this pull back gets bought.

MrAndroid

The US Treasury bond 2 year yield is at a level last seen in May 2006. In July 2022 the yield broke out of what was a long term down trend since 1989. Now we can see what happens next. Will the rates breakout above this level? If they do then that could indicate a real trend shift.

MrAndroid

DXY looks like it could breakout of this chart pattern which could be interpreted as a bullish falling wedge. Price has just nudged against the trendline.

MrAndroid

1% move down for gold draws out a bearish head and shoulders pattern on the chart. This is an hourly chart so it doesn't predict a huge drop in price but even so looks like the resistance level above (1981), which got tagged recently, is still strong.

MrAndroid

No clear breakout yet but is is easy to draw a clear inverse head and shoulders pattern on the chart of chipmaker Qualcomm. I will look out for this one.

MrAndroid

Could be that interest rates and yields are on the rise again with todays small but noticeable pop above this 'bull flag' style parallel channel.

MrAndroid

The US treasury bond ten year yield has been in a down trend channel for the last 9 months in the context of an uptrend that started in 2020. This could be a bull flag. The price now is at the top resistance line of that channel. A breakout could indicate higher inflation and interest rate expectations.

MrAndroid

This incredibly strong but narrow channel of up trend for Meta has reached and slightly exceeded the 0.786 fib retracement of the year's swing high to low. The price yesterday just dipped slightly out of the channel. This could be early warning of a more significant pull back for Meta.

MrAndroid

Big picture on Bitcoin is that a large ascending triangle pattern has formed. The current price is just below a large line of previous support and resistance. A move to the upside could indicate a truly momentous move higher. However I would be very wary of potential false breakouts because this is such an obvious play.

MrAndroid

Downtrend parallel channel for this crypto related stock. Current chart pattern looks like a triangle with what could be a bull flag forming below the upper line. It looks to me like a break upwards could occur soon.

MrAndroid

The price of Intel stock hit the top of a parallel channel and got sold off quite rapidly. I see this as evidence of a continuing downtrend for this semiconductor stock.

MrAndroid

One moving average I track is the 50 month. this helps to determine whether there is a very long term bull or bear market. Sometimes stocks react to this MA line. In the case of Amazon it looks like price may be respecting this moving average to the downside which seems bearish for this stock.

MrAndroid

On log scale this monthly chart of Nvidia I can draw a nice channel linking several major lows, the previous all time high and the current price. Could Nvidia's run be about to be interrupted I wonder. Also there is divergence emerging on the RSI indicating a weakening of momentum.