MarkitMaven

MarkitMaven

Chart is forming a bear flag with many oscillators pointing to more downsides.

MarkitMaven Updated 

The relationship between rate cuts and the stock market, as illustrated in the provided graph, shows that major market declines often occur after the Federal Reserve pivots to lower interest rates. This pattern is evident in historical instances where the Fed's rate cuts were followed by significant drops in the S&P 500. Several factors contribute to this...

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We are currently on high alert as Bitcoin tests the trend line from its recent recovery. While we hope this trend line will hold, leading to a rebound, we are prepared for significant concerns if it breaks. Should the trend line break and Bitcoin falls below the 0.38 Fibonacci retracement level, we could see a further decline alongside the US market amid political...

MarkitMaven Updated 

The chart shows the strong past performance of the Energy and Technology sectors, which have significantly outpaced the S&P 500. Technology saw a 55% increase in 2023 and continued to perform well into 2024. Energy, despite some volatility, remains strong due to high oil prices and investments in production infrastructure. On the other hand, sectors like...

MarkitMaven Updated 

5 minor waves followed by a major correction. Seem to be consistent in the last 10 years.

MarkitMaven Updated 

RSI divergence is one of the strongest indicators that has shown the bring major corrections to S&P500 historically. We are now observing the formation of a near decade long RSI divergence which could put the entire market at extreme risk of 20% correction to 50% crash. If July closes with a shooting star pattern, we should continue to slide down till RSI...

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Given the political and economic challenges ahead, the crypto market is at risk of a significant drop. If the support level at $2800 does not hold during its next test, there is a high chance of falling to $2100. The market has formed a lower high in three consecutive attempts, and the failure to reverse at these levels would increase downward pressure. This,...

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The Buffett Indicator, named after renowned investor Warren Buffett, is a popular metric used to assess the valuation of the US stock market by comparing it to the nation's Gross Domestic Product (GDP). This ratio provides a clear picture of how the market's value stacks up against the economy's overall output. Understanding the Buffett Indicator - Buffett...

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There is no reason to be long here but here is all the signals to go short: Death cross Rising wedge Double top MACD cross down RSI divergence

MarkitMaven Updated 

In addition to the risk of bearish death cross, both Wyckoff and Elliot analysis are pointing to a high risk of further drops. Hoping the rising wedge does not break down, our conservative target remains between 37-39k.

MarkitMaven Updated 

The left panel shows daily 50ma and 200ma approaching to form a death cross sometime in August. Last time we saw a death cross during a bull market reversal was in 2022 and prices dropped nearly ~70%. With current integration of Bitcoin in financial markets, we estimate to retest the trendline forming since lows of 2019 at 37k sometime in 2025, with a conservative...

MarkitMaven Updated 

The stock market on July 25, 2024, experienced significant movement, similar to the major trendline break in January 2022. Both periods saw heightened market volatility and uncertainty driven by macroeconomic factors. In January 2022, the break was due to surging inflation and anticipated aggressive rate hikes by the Federal Reserve, leading to a sharp...

MarkitMaven Updated 

SOFI has been on tight consolidations for a long time. It's starting to make a move.

MarkitMaven Updated 

Teladoc is primed to hit a massive run. Volume has been accumulating for the past 2 years and has been picking up recently. There are a few areas of resistance in the way but with insiders buying and volume pilling up on top of the recent rotation to small caps, there is a high change of short squeeze up to at least 45. All eyes on this ER, which is probably...

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Microsoft sells of following ER and breaks its trendline. Target levels are marked on the chart. Closing July under 400 would be a major warning sign for the remaining of the earning season.

MarkitMaven

Today, Bitcoin hit 200ma for the first time since August 2023. Historically, that not a good sign for Bitcoin. There is also not enough volume to support a full recovering and it's beginning to show significant underlying weakness. This move, in the most bullish way possible, may be the formation of the handle of this a c&h around 40k.

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Today marks the first day of NVDA breaking under its year long trendline. However, the volume is not impressive, so there is a high change that it will retest the trendline marked by the yellow line. If the retest fails, I am expecting another 22% percent drop from current levels to $318 by late October to mid November. Our target is where 200ma meets the bottom...

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Rising wedge is going to be tested soon and the weekly volume is dropping close as it's touching the down trend line. This might be the beginning of a new leg down.