Point-Blank-Trading

Point-Blank-Trading

On December 29, 2021, Procter & Gamble (PG) reached new all-time highs, touching the $164.40-$165 range for the first time. This level was tested multiple times until February 4, 2022, but consistently faced rejection. Following the February attempt, the price was driven down over five weeks to a low of $143. However, PG recovered, and after another 5 weeks, it...

Point-Blank-Trading

VIX1D has a short history since its incieption on April 24-2023, however, its creator, CBOE, has included bactkesting data that allows us to see how VIX1D would have performed on earlier dates. The VIX1D line chart shows the backtest data provided by CBOE. We drew a horizontal line at 14.57 which would limit what we can call a subdued volatility (bullish for...

Point-Blank-Trading

SPX daily chart with long term Regression channel, 3405 days, with +3/-3 stdev bands. The Comfort Zone is the reddish area located between +2 and 2 stdev, where at least 95% of price occurrences should occur. This chart shows that the uptrend that started on June 16 failed to break above the +1 stdev line. The mean served as support and allowed a small bounce...

Point-Blank-Trading

SPX daily chart with long term Regression channel, 3405 days, with +3/-3 stdev bands. The Comfort Zone is the reddish area located between +2 and 2 stdev, where at least 95% of price occurrences should occur. This chart shows that the uptrend that started on June 16 failed to break above the +1 stdev line. The mean served as support and allowed a small bounce...

Point-Blank-Trading

VVIX was trapped in a trading range for 12 weeks. It finally managed to break out last Friday portending higher prices for VIX. It is quite possible that it will retest the 95.5 level before confirming the uptrend.

Point-Blank-Trading

315 has been a very strong resistance to break for TSLA. On the chart you can see that the top box was built from the top of the breakout gap of Oct25,21 and the pivot point high of Nov4, 21, then we cloned it to establish the bottom box whose floor was the target of the correction, which was met to perfection. Last Friday TSLA broke below an almost symmetrical...

Point-Blank-Trading

NFLX has proven in recent weeks to be the strongest stock in the FAANG family of stocks. It has held above a long-term trendline linking the 2013 and 2016 lows. Comparing the ratios of the SPX and each of the FAANG stocks, NFLX is the only one that has held above the June 2 high. This is a short term trade to take advantage of a bounce and then decide according...

Point-Blank-Trading

This chart shows in the shaded area the time periods in which the Dealer/Intermediary group of the TFF (Traders in Financial Futures) report have been net long. What is significant is that most of the time this group remains net short and when it switches to net long it has been followed by long periods of upside in the SPX. The exception was in 2007 when prior...

Point-Blank-Trading

MSFT today cut cleanly through a very important support line, as well as below the neckline of a massive Head and Shoulders pattern. Not much to say, it should look to retest the broken zone, and that would be an ideal time to go short, or buy puts with, preferably, two months to expiration or sell calls. In bear markets even the leaders take hits.

Point-Blank-Trading

Estee Lauder missed earnings (or something, outlook, whatever) and today has gapped down bellow significant support level. Considering all the technicals in the chart and the environment (correction-bear market) we are in, EL looks like a perfect stock to short, specially at this hour when it has retraced back to support. Stop loss right above $265.

Point-Blank-Trading Updated 

AMD is another semi company in trouble. Its chart says it all. It has no choice but to continue downward. It could retest the broken support around $100, but it should fail in that attempt. Head & Shoulders pattern is ominous. The only thing on its favor is declining weekly volume. There is no better crystal ball to predict the future performance of an asset...

Point-Blank-Trading Updated 

QQQ and NDX bouncing with help of FAANG stocks. Only to fail again. Regression Channel with bands of +3/-3 standard deviations on daily FAANG chart spanning the entire uptrend from the pandemic lows, The chart illustrates a Normal Distri SPARKS:FAANG bution of prices with 95% or more of the price occurrences happening - as they should - within the Comfort Zone,...

Point-Blank-Trading Updated 

S&P 500 IS IN FOR A DEEP CORRECTION. Monthly SPX Regression Channel, spanning 40 years, with bands of +4/-4 standard deviations. This is a long-term channel showing a Normal Distribution of SPX price occurrences. At least 95% of the price occurrences occurred within the Comfort Zone, the blue area between +2/-2 stdev as it should be. For 14 months (3.54% of...

Point-Blank-Trading

There is no better crystal ball to predict the future performance of an asset than its own chart. Keeping it simple, TSM broke bellow a 15-month lateral range, and several days later failed to reconquer the lost grounds. It's been under distribution, and the last candle is the most bearish. TSM won't be able to hold at support and will continue lower.