Pennywick

Pennywick

Testing the TP1, .236 of the Pattern Break. Benefitted from an upgrade this morning.

Pennywick

The Bull Flag Confirmed, finding resistance after the break. Attempting to Back-test the pattern. The Daily view is showing a rising channel, watching for divergences.

Pennywick

The overall market continues to digest an increasing rate environment. The S&P retraced to the Golden Mean and quickly reversed into a choppy zone, driven by the surprise jobs increase. The CPI /PPI for January is up next. This is creating the Super Bowl of Bond Yields as the 10Y has been making bull moves toward the .214 Target, above 2.0%, of the Weekly iH&S...

Pennywick

Backtesting a hold of the daily MBB, MSFT has set a potential 4h Higher Low. The vehicle for a Bull Break is this Inverse Head and Shoulders: with the 10 Year challenging 2%, Meta falling 25%, Google stock split, a Rivian save for AMZN, MSFT becoming cool, and TSLA living a dream unto itself, the question is: will the Funds see Big Tech as a safe haven to BTD,...

Pennywick

Part confirmed Bearish Bat, part better part of a cup and handle (The Handle!), Nvidia is top watch. everyone needs chips.

Pennywick

Before moves, BTC has a history of Volatility Patterns on the smaller frames. BTC has formed a Bull Flag after the solid move off the 4 hour Higher Low.

Pennywick

After breaking-down the Daily Bear Flag, support was found and with a backtest of the Head and Shoulder Target .236, the first Bull Break in weeks was found.

Pennywick

All eyes turn back to inflation and rates as the economy is creating jobs. Scouting the reopening trade for Q2.

Pennywick

An echo of the Monthly Broadening Wedge, the 4-hour broke bull on the surprise Jobs Report.

Pennywick

continues to trade within the broadening pattern. The growth bounce stalled, and the bond continues to hold in EQ

Pennywick

the H&S broke for the confirmation, but only to the first maker at the .214. A Diamond Continuation has fueled the yield to back above 1.80

Pennywick

A reaction to Meta earnings? or more risk off as the never ending bear flag finally broke down on the daily frame.

Pennywick

NVIDIA is fell on Metabook's earnings show, held the .382 break of this harmonic bearish bat.

Pennywick

Looking to commandeer this level as support, the .214 is now the Daily point of control. With two break-outs of the short-frame compression patterns, the upper wick has set a Lower High. The Larger Bear Flag continues to be in play as the daily ranges are shrinking.

Pennywick

Key spot for the Bulls to break up over the .214, and back-test the level, claiming it as support. For the Bear, the flag is in play, watching the lower bound.

Pennywick

Volatility is the name of the game as the major indexes were in a big range all week. The Nasdaq is testing it's 2 hour UBB with a Bull Flag under resistance. The Russell 2000 also has a Bull Flag after finding 2hr LBB support, setting up a potential Lower High under the 2h 50 SMA. The Bonds gave back the bull break during the FOMC meeting and are now showing a...

Pennywick

Price has recovered the 8H MBB as the Bollinger Bands Compress. The pattern is looking more like a bear flag using the real bodies and a broadening wedge using the wicks.

Pennywick

Broadening continues as the FOMC meeting will be on watch tomorrow for all risk asset fans. Stuck between a stock and a hard case... of inflation, Chairman Powell will need to watch-out for the bogeys embedded in the pointed, yet obviously antagonistic, questions from a few of the press corps members in the Q/A, I will be watch Mr. Leishman, MSNBC, give him your...