DaddySawbucks

DaddySawbucks Updated 

Stand in front of the train if it suits you. Going ATH, irrational meltup. Logic and reason are irrelevant. Get ready for a massive blowoff top. Going to da moon!! So many posting; 'Get short!' 'I'm short!' 'Big Dump Coming!' It is not dumping, it is pumping. If you stand in front of Santa's Polar Express you WILL get run over. Merry Christmas to all, and to...

DaddySawbucks Updated 

Buying SPXL TQQQ and a few cawls. It's a selling climax. OFC it can still sell more. GLTA

DaddySawbucks

Back in the middle again. Looks like the squeeze could run a little further. PB to the center tine would give an inverted Right Shoulder. Look for it.

DaddySawbucks Updated 

This structure appears before massive selloffs. Strong resist at 4385. Today's (10/16) gap & go rally may well be a last gasp for bulls. If we don't get a breakout 10/17 we gonna see a big dump into EOM and FOMC. This is a really risky time to be in here. Good luck if you try to play. I'll be short.

DaddySawbucks Updated 

In 2018 Congress failed to pass a budget and the US Gov't was shutdown. A monster dump ensued. Now comes Congress unable even to elect a Speaker. incompetence abounds. Expect the worst. Trend is Down. Trend continues until the End at the Bend.

DaddySawbucks Updated 

Price stopped fall at the 0.618 retracement ~4321 SPX and held for an intraday double bottom ~4310. Holds above the previous Friday's finish after a mad V rally. Stonks remain in a downtrend but this countertrend move may be only halfway up the flagpole. C wave ought to carry index to the upper trendline of falling channel, another 100 pips above. Confirm...

DaddySawbucks Updated 

Chart says it all. Bear trap. If this is impulsive move lower all the past week's down is just the first leg lower. A retracement to the 0.50 is most common. Shorts beware.

DaddySawbucks Updated 

Do not be fooled. Many again calling a new bull market. Not yet IMHO. This is a B wave and likely close to topping. Expect top within days, or hours. The ferocity of short squeeze rallies in bear markets is amazing. The best bullish moves often occur in bear markets! Because shorts scramble to cover, driving price higher. But this is NOT a buy and hold...

DaddySawbucks Updated 

The look and also feel of this latest weakness in price is very much like a fourth wave. Shallow pullbacks and choppy PA. This monster should sell in September, but an odd statistical curiosity is that most ATH occur in... September, typically in the first week. So the first few days of this new trading month could well be bullish. Notice the relative strength...

DaddySawbucks

Russell 2k dumped 170 pips in August over a few weeks. Now we got retracement to the 0.382 Fibo. Might squeeze up to the 0.50 Fibo. Start scaling in shorts in this zone imo. Final leg down ought to be a measured move to ~1740 price zone. GLTA

DaddySawbucks Updated 

Hellacious bearishness...mmmm yummy! All fun rides must come to an end, this one will stop loss soon imo. Look for a bend in the trend real soon. Friday is triple witching and could produce a near-term bottom. Bounce back to 4400 is the likely test. A real ferocious down draft may follow. For months I warned the Bear Market ain't over and the Fat Lady didn't...

DaddySawbucks Updated 

Bounced twice from this rising TL but this broke it. After a break like this price will try to regain TL, then reject. Short the rally within next day or two. Won't last long. The real bear move is coming next week imo. Get ready for a big red wave.

DaddySawbucks Updated 

Pretty strong down moves in a wild ride likely a setup for BTFD, CPI numbers Thursday AM the catalyst for retracement move. Probly don't wanna be short right now. Could tank again if more geopolitical news smacks it down but absent adversity, expect a lift. Any lift will be a countertrend move in a primary downtrend. Likely target is the 0.62 Fibo retracement...

DaddySawbucks

JW to again observe the divergence, I called this on prior posts, see what happens when RSI Falls in face of rising Price?! Well, fine, hope you enjoyed your bearish gains. You shorted, right? O, still holding longs? Well you might get a chance to close those out soon. Notice how oversold it goes, trading at bottom of Bolly Band, under 50MA... might be a good...

DaddySawbucks Updated 

Double Top RSI first top = 75 - 80%, overbought; led to a pullback then another secondary rally to a lower high where RSI second top = 61%. DYYDD

DaddySawbucks Updated 

Get ready for a big dump. Loading bear shares on every gap up. Capping 4600 at top of Bolly band... exhausted. Cup & Handle played out nicely. Guns of August will be blazing imo.

DaddySawbucks Updated 

PA = arrow up; RSI = arrow down. Divergent. Brief Description. Divergence Diverging.

DaddySawbucks Updated 

Price target 4575 based on extension from bottom of cup to rim. Breakout above rim is bullish and high probability of further extension. Bottom of cup 4330 to rim 4455 = +125, target ~4575. Move can come fast. Shorts beware. NB: Chart patterns are often DECEPTIVE and MISLEADING. DYODD! A pullback to fill the open gap is very likely. Closing the gap may spark...