Price action ‘failures’ provide and edge in market positioning.
In the case of Boeing (BA), from yesterday’s post, we’re expecting continued move higher off the ‘spring’ set-up.
So far, it hasn’t happened.
Instead, BA closed lower for the day; in the pre-market today (7:28 a.m., EST), it’s trading within ticks of that close.
So, what does it mean?
If, BA opens below yesterday’s low (200.88), we have a possible spring failure in the making; especially so, if price action prints a new weekly low, below 198.75 (not advice, not a recommendation).
Boeing BA, Daily
As this post is completed, BA is trading at 201.15, just slightly above the close of yesterday.
Note: Posts on this site are for education purposes only. They provide one firm’s insight on the markets. Not investment advice. See additional disclaimer here.
It’s never fun to wake up ‘in-the-red’ but that’s where Boeing BA-25-02 (short) was in the pre-market.
Based on the chart, with Friday’s lower close, price action had one of two choices; post lower and continue the decline or push higher from the spring set-up as shown.
Looks like we’re set-up to see if the (up-thrust) target area is met (not advice, not a recommendation).
With that said, the short was exited pre-market with an overall loss of 0.99%.
Boeing BA, Daily (pre-market)
Note, from the high on 5/14, to the low, last Friday, is Fibonacci 8 Days.
If the correlation remains intact, we’ll be looking for a potential target set-up, on Fibonacci Day 13.
Note: Posts on this site are for education purposes only. They provide one firm’s insight on the markets. Not investment advice. See additional disclaimer here.
Note: Posts on this site are for education purposes only. They provide one firm’s insight on the markets. Not investment advice. See additional disclaimer here.
Note: Posts on this site are for education purposes only. They provide one firm’s insight on the markets. Not investment advice. See additional disclaimer here.
Note: Posts on this site are for education purposes only. They provide one firm’s insight on the markets. Not investment advice. See additional disclaimer here.
Bear markets are not (always) prices going straight down, a la 1987.
Bear markets are ‘price destruction’; a series of ups and downs that effectively drain (whipsaw) the typical market account.
The last two weeks have seen record breaking extremes; the latest being this update, indicating the market posted the largest volume ever recorded.
Dodging Bullets
A case in point, this site’s narrow miss on having a huge gain (LABD-25-06, short biotech) being completely obliterated in last week’s largest short squeeze, ever.
It’s (almost) a ‘no-brainer’, this type of market behavior is not bullish (not advice, not a recommendation).
Then, The Propaganda
If it’s not dodging bullets, it’s sifting through the propaganda, half-truths, and outright lies.
The latest of these, (could be) ‘China dumping dollars’ and other ‘collapse’ narratives.
There’s volatility for sure. That’s what bear markets are about. However, this link might help mitigate the hysteria around the ‘It’s all blowing up’ narrative (not advice, not a recommendation).
In the above link, how it really works, time stamp: 17:58
So, here we are. What’s next?
Gold & Silver, Update
Even though both gold (GLD), and silver (SLV), are trading lower as of this post (12:52 p.m., EST), the Junior Miners GDXJ, posted a new daily high, thus, short JDST-25-09, was exited (not advice, not a recommendation).
Today’s activity does point to a new potential (developing) set-up, this time, silver miners SILJ.
Silver Miners SILJ, Daily
The set-up (spring-to-up-thrust) may develop from here, or it could diffuse into chaos.
It remains a possibility, until price action itself says, ‘no’.
Note: Posts on this site are for education purposes only. They provide one firm’s insight on the markets. Not investment advice. See additional disclaimer here.
Note: Posts on this site are for education purposes only. They provide one firm’s insight on the markets. Not investment advice. See additional disclaimer here.
Yesterday’s mid-session update said Carvana’s posting a repeating pattern.
That pattern is what’s called a Wyckoff ‘spring-to-up-thrust’.
Even before, yesterday, this update said we’re expecting some kind of bounce.
Well, we got it; then, price action went on to post a potential reversal (not advice, not a recommendation).
Today’s session may or may not contain a ‘test’ of that (reversal) action.
Let’s go to the chart.
Carvana CVNA, Daily
There’s a lot going on.
As the chart notes, when taking the retrace measurement from the after-hours high of 310, posted during the earnings release, yesterday’s action topped out right at the Fibonacci 23.6%, level.
We’re about twenty-minutes before the regular session; CVNA, is trading lower by 3.6-pts.
Note: Posts on this site are for education purposes only. They provide one firm’s insight on the markets. Not investment advice. See additional disclaimer here.
Note: Posts on this site are for education purposes only. They provide one firm’s insight on the markets. Not investment advice. See additional disclaimer here.
We’re just hours away from the Sunday futures open.
Yesterday, military attacks on Houthi rebels have commenced; links here, here, and here.
Middle East conflict escalates.
The question is, will the markets see it that way?
Will it be ‘escalation’, with gold futures ever higher, or is it ‘buy the rumor, sell the news’?
If we’re looking at potential gold/silver related downside, then let’s review the miners; they’ve been in a bear market for nearly five years (not advice, not a recommendation).
Junior Miners, GDXJ, Weekly Close
Before getting to the right side of the chart, let’s start with the ‘Time’s Up’, arrow; a reversal and decline over 50%.
At this point, gold and the miners appear to be stretched with silver currently in non-confirmation.
If it was really (simple) inflation, it would be like the 1980s, with both moving in tandem.
Then & Now
With that, what has GDXJ, done in the past?
The chart itself shows us it tends to exhibit a repeating pattern of Wyckoff ‘spring-to-up-thrust’.
We may know within hours if gold, silver, and the miners, are going to reverse or launch into some kind of extended rally (not advice, not a recommendation).
Note: Posts on this site are for education purposes only. They provide one firm’s insight on the markets. Not investment advice. See additional disclaimer here.
The Danger Point® 