MoneyPatterns

MoneyPatterns

I AM NOT IN THIS TRADE Per request, here is an update for JNUG I do think that gold and gold ETF's will turn bullish if general market turns down. Each person has their own preference for Gold ETF's (if they use them). I prefer GDX for price and pattern. Chart Details Price broke out of blue wedge and then yellow triangle as expected. See last chart. If...

MoneyPatterns

TRADING ACTIVE GDX options 1/31 expiry, 27/31 Put Credit Spread. Adding to position with another spread based on chart. Chart Details Bull flag breakout pattern. Gaussian channel confirms current trend is bullish. Price in consolidation before further upside IMO. Multiple gaps to fill. Market at all time high with any pullback GDX will go higher. Trend dots...

MoneyPatterns Updated 

I AM NOT ENTERED IN THIS TRADE - BUT ITS READY IMO Unless price opens below $113.03, WM is ready. Bullish Put Credit Spread Chart Details Bullish pattern on Weekly view with bullish price breakout. Pattern is repeating in WM, flat bottom wedge (bullish pattern). I like this sign. Bullish EMA Cross on Daily view. Bullish EMA Cross on Weekly view is guaranteed...

MoneyPatterns Updated 

TRADING ACTIVE IN SPXS Chart Details SPXS confirmed Buy Signal on Daily yesterday. Gaps to fill up to $17.50. Bullish EMA cross will occur around $13.94. 10WeekMA cross around $14.60. Anything above $14.60 should confirm Bullish trend up to gap fills. Price may stop at each gap fill – watch to exit if reversal occurs. RSI turned Bullish. Trend Dots confirm...

MoneyPatterns Updated 

I AM NOT ENTERED IN THE TRADE BELOW. I WILL UPDATE IF I ENTER/GET FILLED The trade ideas below are meant to be low risk entries for bearish bias after Jan. 1st, expecting market pullback from capital gains profit-taking. Please let me know if you have any questions, or have another idea to share with others. I really appreciate all comments and...

MoneyPatterns Updated 

TRADING ACTIVE Chart Details SMH had sell signal on Daily yesterday. I entered trade but did not post. Waited for trend dots to confirm. Trend dots confirmed bearish trend very end of day. Gaps to fill below down to $111. Weekly RSI trend is about to breakdown. Daily trend dots confirmed bearish trend. I will post a Weekly view chart for SMH when trend...

MoneyPatterns

I AM NOT ENTERED IN THIS TRADE Waiting on Weekly view Sell Signal – which will trigger with price below $210.73 Chart Details Sell Signal on Daily View on 12/30. Overall chart pattern is bullish breakout of wedge. The next bearish trend will be short-lived. Trend Dots show next Weekly trend is Bearish. Exits- Since BABA is overall bullish, I would exit at...

MoneyPatterns

I AM NOT IN THIS TRADE. I am using SPXS instead of shorting/buying puts on SPY. I will update SPXS chart momentarily. Chart Details SPY confirmed Sell Signal on Daily yesterday. RSI trendline broken confirms downtrend short-term. Filter dots also verify Bearish trend has started. We need to watch for continuation. We should see reversion to 10WeekMA around...

MoneyPatterns Updated 

I AM NOT ENTERED IN THIS TRADE I will update on Monday 12/30. Reading a chart from Unwind, he suggested to find a inverse SPY ETF. Credit to him for the suggestion. I came across SPXS which is "3x inverse exposure to SP500 index" www.etf.com This idea is meant for bearish bias on SPY, considering we are at ATH's and capital gains starts in January. If you have...

MoneyPatterns

I am currently in this trade. I will continue to add to my position in the Buy Zone. Chart Details We are still consolidating into the tip of the wedge. I still think the Buy Zone is lower into the $6100 area. RSI trend is still in channel. Rebound off top RSI channel indicates short-term downtrend consolidation where I will look to buy if possible. Current...

MoneyPatterns Updated 

I AM NOT ENTERED IN THIS POSITION. I will update with possible entries. Looking out to entry next Monday or Tuesday possibly. QQQ is at the "longest run" its had in history. This is when I start looking at bearish entries. Matter of time to downturn. Fear and Greed Index at 93 money.cnn.com Chart Details We are off the rails with QQQ - going into outer...

MoneyPatterns Updated 

I AM NOT ENTERED IN THIS BEARISH POSITION...YET. I will update with possible entries this morning after reviewing chart ideas. Entry updates will be made at once on all charts when applicable. "A Minsky Moment is a sudden collapse of asset prices after a long period of growth, sparked by debt or currency pressures." Named after economist Hyman Minsky. This...

MoneyPatterns Updated 

I AM WAITING FOR FILL ON THIS ENTRY Chart Details Bull Flag with bullish breakout. RSI bullish breakout Weekly trend just turned bullish. Gaps to fill above. Good entry at lower gap fill around $28.70 Entry Options Waiting for fill - 1/31 Expiration - 27/31 Put Credit Spread. Take $220 Credit. Max loss $180. Breakeven GDX at $28.80 About Me Thank you...

MoneyPatterns

THIS IS NOT READY. Ready after confirmation of daily close above $29.34 (or 10WeekMA). GLW - Corning (maker of Gorilla Glass for phones) has a bullish EMA Cross. Short term bullish bias after 10WeekMA cross. Holding for day(s) to a week max. I would wait until after Xmas to enter this trade. I may enter on Friday and hold over weekend. This will be a Put...

MoneyPatterns

THIS IS NOT READY. I will update once there is an entry. Keep in mind - Markets close at 1pm today. EARLY CLOSE A Santa Claus rally is a calendar effect that involves a rise in stock prices during the last 5 trading days in December and the first 2 trading days in the following January. www.google.com Based on Santa Claus rally, we have a 76% chance of the...

MoneyPatterns

THIS IS NOT READY FOR ENTRY BEARISH IMO.....YET I will update once I enter or see a position entry upcoming. AAPL Weekly RSI is 84. Extremely overbought. Weekly bullish trend has remained bullish since June. Angle of price around 45 degrees is not sustainable at this time length. It's simply gone on too long. With gaps to fill down to $99, there is...

MoneyPatterns Updated 

NFLX just had a bullish EMA cross and price cross above 10WeekMA. There is a decent gap to fill from $340-360. Last week - 2 separate analyst upgrades with $400+ target. www.marketbeat.com I have been using vertical put credit spreads last three days successfully for $80-$100+ each time on single put spread. For those following along: Today/Tomorrow EXITS...

MoneyPatterns

Bloomberg article from yesterday sees 50% chance of correction in 2020. www.financemesh.com Current Daily trend shows we may get to 3300 before downturn. RSI trend should indicate when uptrend is broken. We have a RSI high on 92. If we get close to this, get short positions ready. I plan to be playing 14 day entries for options put contracts, or call credit...