Friday, October 27, 2023

Weekly Wrap-up Sector Rotation $QQQ vs the Nasdaq

 This week was hell! Not because trading it was all that difficult, but because I came down with the flu, and I'm still fighting it - sneeze - and if that wasn't bad enough, now my wife has it. 

Monday I tried to listen to F.A.C.E. (Forex Analytix Community Experience), for the first time in ages, and mistakenly gave out my join webinar link, and before I knew it someone was using my id to swear in the chat area - augh. I've since contacted support, and the host, and I don't even get a response. I'm done with that!  Trading with the herd isn't a winning strategy anyhow. @ForexStopHunter #Blocked  

Today's big news makes clear why 10 senators were seen traveling to Saudi Arabia, on Oct. 20th. 

This also explains why the market has been sold - by government insiders - ahead of the news. 

Bloomberg claimed yesterday that Natural Gas was up because of a fear of a widening conflict in the area - paraphrasing - so this attack was well telegraphed. 

I'm surprised not to see Oil soaring on the news, but perhaps the Saudis are dumping oil on the market. 

Next Bloomberg @chartress brought one of their so-called experts on to explain why the $VIX remains so low, yet all he could come up with was that Put protection wasn't being put on. 

I can tell you why the $VIX remains low. It's because the market isn't expecting high volatility, anytime in the near future.

Sector Rotation 

What Bloomberg failed to report yesterday, as did CNBC, or anyone else in the lame stream media, as far as I can tell, is that the regional banking sector gaped up nearly 3% at the open.  

Perhaps that story doesn't fit the Bloomberg narrative, or maybe they were preoccupied hosting/ interviewing Janet Yellen 


China 

The lame stream media also failed to report China up nearly 3% on Tuesday 



I was lucky enough to catch that trade, and even though I was afraid I might miss another big move to the upside, I took profits, and subsequently the rally was faded. 

Big Tech 

I warned folks to not hold big tech into earnings, and low and behold I was right again! 


If markets manage to stage a rally today, it's going to look like short covering ahead of the weekend, but if the $VIX is taken down below 20, then this rally has legs  

Judging by the way all the bears on CNBC Fast Money continue to badmouth stocks, we could see a massive short squeeze... 

Technically It comes down to whether you trust the channel on the QQQ, or the 200 day moving average target. 

$QQQ - trades in parallel range 


The $NDX looks identical, by the way.   

One possibility is that we get a rally here, and the 200 day continues to rise, providing additional support at the lower channel. 

The $COMPQ has already taken out the 200 day moving average. 

Another possibility is that we see other sectors lead the rally, while tech continues to sell off. 

Take Care, AA 


 


Friday, October 20, 2023

Weekly Wrap-up October OPEX Friday

This was an interesting trading week, with lots of fake news to boot! 

I'm not even sure where to start, and I've been so busy trading, it hardly leaved me with any time to write. I started a blog on Tuesday, and ended up deleting it. 

The Latest suspected Breaking Fake News From CNN:

US Navy warship near Yemen intercepts multiple missiles, US officials say 

Yeah, US officials say a lot of things 

Earnings Season

It may not seem that this is what the market is focused on, but I see the dips being bought, and I believe we're about to see a sector rotation out of the so-called safety trade, and back into heavily beaten down stocks.   

Crypto/ Bitcoin

Bitcoin is the big winner of the week, and that figures, because it finally occurs to me that this worthless market was created in order to be pumped and dumped, at will. You would have had a much harder time driving any other market like this.  

Fast money guest Steve Weiss alerted to the Bitcoin trade earlier in the week, and I didn't really pay much attention until I saw it up another 4% overnight, and Bitcoin taking out an important psychological target - $30k!     

Funny Bloomberg seemed to be more excited about Gold up another $6, than Bitcoin up 4%!   

Natural Gas was the biggest looser of the week, and I must admit I made out like a bandit on that trade. If you're interested in trading commodities contracts, I'll have more information on that, coming up in the near future. 

To be honest; I'm not even remotely interested in buying the $SPX, because I have bigger fish to fry, but I still track it. 

If you trade the $SPX or the $SPY then you should be watching the $VIX as well.  

$VIX finally managed to take out the 20 level, the day before OPEX, so that looks like a bear trap. 

I would expect the $VIX to hold above 20.25, as the $SPX continues to build a base. 

Whoever sold this market into the Israel story knew what was coming. 

Good luck, and have a great weekend! 

AA 




 


  

Monday, October 16, 2023

Multiscreen Trading/ Gaming Platform For Remote Work

 After trading for 15 years, and now dabbling in futures trading, I'm seeing why some pro traders require as many as 6 screens.   

To give you some Idea of what my current layout looks like: What I like about it, is that I only need to glance up, and to the left to get a good read on the market. 


Those are large 27" monitor, except for the wide screen on the upper left - which I run Think or Swim charts views on. I normally have 12 charts running on that 1 screen alone. 

Even with so much desktop area, at times I still find myself limited on space. 

To give you some idea: I usually have around 18 tabs open - spread across the 3 lower monitors, and 24 -  30 chart views I'm working with. 

This could easily be spread across an array of 12 screens, but they would have to be smaller monitors, because your field of view is limited. 

Multiscreen Trading/ Gaming Platform For Remote Work

At some point I want to be able to trade on the road, from an RV, and that will require some ingenuity. 

I find that there's a lot I can do on my cellular device, but there are times when I need to check the charts on a larger screen, and this setup is going to be invaluable, when I'm on the road. 

I imagine I'll be trading on a laptop, with a triple monitor setup - (for Macbook) pictured below.

Note: Sales made through affiliate links on this website pay a commission, and help support this website.  



These monitors fold in to a collapsible state, and a soft carrying case can be purchased separately - 







There is also a model that fits non- MacBook  (Windows/ Android) - laptops -



Note: The above models are all built of lightweight plastics, but if you prefer there's a slightly heavier weight aluminum model - seen linked below. 

 


Even if you don't plan to RV, this is a killer setup for your hotel room.

I could even see using this for remote (hybrid) work in a studio apartment.  This would even make a killer gaming setup, as long as your laptop is powerful enough.

In my case 3 screens isn't going to be enough to cover everything, but it will do in a pinch. 

It may also be possible to daisy chain a forth portable monitor, and if you only require 1 additional portable monitor this seems like a good option. 

 


I figure I can always place orders on my cellular app, and tweet from the phone as well. 

Take Care, 

AA 

   


Friday, October 13, 2023

Market Update Friday the 13th - The Start of Earnings Season - Day of Rage New York City

I started a blog yesterday morning - "Will the CPI number move this miserable market?"  - but that's as far as I got. 

As it turned out; the market didn't care about CPI (inflation) data. 

From the moment the CPI data was released, the $VIX sold off, so there was no fear associated with it. 

The market did pull back just before lunch time, but I attribute this to money managers quietly raising some cash ahead of earnings season - which began this morning, with Well Fargo, Citi & JP Morgan.

Saw this coming 

Getting back to the sell-off

Why did they wait until the middle of the day to sell? 

1. Because they didn't want to spook the market. 

2. By that time, most bears have already given up.  

That didn't stop CNBC from reporting that the market had sold off on a hot CPI number 

Dow closes more than 150 points lower as inflation data reignites interest rate fears CNBC


Rates did climb after selling off for the previous 4 days, but they leave that part of the story out. 

I took profits on my long treasury bets on Wed., but I'm still adding to bonds in the 401k, as I stated a couple weeks ago in my latest newsletter.   


What else is this market waiting for besides earnings season? 

Short covering ahead of the holidays, of course! 

 Do investors realize that Thanksgiving week is only a month away?! Probably not 

We could still see some weakness, ahead of short-covering season, but there isn't much time.... 

Speaking of Short Squeezes   

Caught a nice short squeeze in Lumber Liquidators 

$LL - up nearly 40% 

Not one re-tweet, and that's because 99% of traders misses the boat. 

New York City 

I stayed in Manhattan this summer - there for the US Open - and I couldn't get over the congestion. I can tell you that it's 3X worse than Chicago, and just as bad as you hear people describe it, and given that it's been the constant target of terrorist attacks, as well as the 9/11 (ground zero) false flag (hoax), I'm happy to be living 1000 miles away... 

In fact with all that's going on, I can hardly wait to get as far away from any major city in the US! 


Day of Rage comes one week after the new Emergency Alert System Test 

I haven't heard much warning of a dirty bomb being released in NYC for some time, but that is a real threat, and would cause the same kind of panic we saw during Covid-19. Masks, lockdowns, etc.   

Radiation is an unseen killer.   

Frequently Asked Questions About Potassium Iodide 

"Potassium iodide is a salt, similar to table salt. Its chemical symbol is KI. It is routinely added to table salt to make it "iodized." Potassium iodide, if taken in time and at the appropriate dosage, blocks the thyroid gland's uptake of radioactive iodine and thus could reduce the risk of thyroid cancers and other diseases that might otherwise be caused by exposure to radioactive iodine that could be dispersed in a severe nuclear accident." nrc.gov

 This is the brand I purchased in April 2023, and have stocked just in case of an radioactive emergency    


Hopefully we never have to use it, but it's good insurance, and I sleep better knowing we have it.

Hope for the best; prepare for the worse!  

Take Care, 

AA 





Wednesday, October 11, 2023

Taking another look at the Armageddon Trade

 First off it's Prime Deals season, so you may find me posting more advertising content than usual, and to be clear, this website makes money through the promotion of certain products. 

Just know that I wouldn't promote a product I wouldn't use myself, and many of the things you see promoted on this website are critical to your survival in the coming apocalypse. 

For instance Potassium Iodine Tablets. I suggest buying the 2 pack, so you can share with friends and family, or to have an extra supply at your bugout location. 

 


 

Speaking of Apocalypses and the Armageddon Trade 

I believe, in the case of WWIII, life goes on, and could go on for some time, no matter how dire the circumstances may look. 

Remember Covid-19 was used as an excuse to print money, and that money was used to drive the market to new highs. Few saw that opportunity coming, and while most investors were looking at selling everything, I was looking for a market bottom. 

The lame stream media may be able to fool the general public, but they can't fool Wall Street.  

I'll bet it didn't even occur to you that you should be buying the Israel market after the panic... 

This morning I decided to look at the recent pullback in the Tel Aviv 123 (Israel), since Israel sits on the front line of what's being compared to  

 $TA123 - Pulls back to a higher low. Rallies 1.5% on Tuesday out-performing the $SPX 2-1. Not to mention the golden cross on the chart. 


Look, if Israel is going to use the same terror excuse, that we did after 9/11, as an excuse to make war, then that means more weapons sales, and more control of resources, and more peace - for Israel - in the end.

 In case you missed yesterday's blog, I listed all the benefits that the powers that be are going to reap... this is the whole purpose of a false flag. 

See: Israel Terrorist Attacks Drive Military/ Defense Stocks Higher

The market loves war! Just look at 9/11, and the subsequent wars in Iraq, and Afghanistan, and the rest.... Like it or not; the endless war economy is an integral part of the real economy. 

Yesterday, we saw Joe Biden order Congress to appropriate funds for the Israeli war effort, and the market responded with another up day. This forced Congress's hand, just as I predicted... 

There's a lot more I could say about this event, and how it aligns with end time prophecy, but I don't have time... 

Yesterday's trade looked a lot better than the previous 2 days, and I took the opportunity to take profits on more trades that I ever have. I almost had to pinch myself, as it seemed like every time I went to check my holdings, some other stock was making a run. 

I was forced to sell most everything - there were a few cash trades I was not able to liquidate, due to the fact that Monday was a banking holiday and trades still have to settle  - but all in all I made 23 trades!  

Maybe not the most returns I've ever seen in a day, but still one of the best trading days ever! 

Take care, 

AA 

Tuesday, October 10, 2023

Israel Terrorist Attacks Drive Military/ Defense Stocks Higher

 I'm even more certain that the recent "terror attacks" in Israel was a false flag, than I was yesterday, because I have more proof.... 

$DEFN - Bullish reversal, ahead of the Israel/ Hamas terror attacks  



That's right, not only was the reversal in Oil perfectly executed, but defense stocks reversed on Friday!  

Curious, seeing any usual options activity in this beaten up sector? @jonnajarian pic.twitter.com/TRA8s1rwIy

— Veteran Market Timer (@3Xtraders) October 9, 2023

I reached out to Jon Najarian on this, because he - better than anyone else would know if there was unusual activity in the options market. 

I know of at least one defense contractor that was already on my radar; it's one of the names on my list of stocks to watch in 2024. Of course, I'm going to continue to keep that list close to my chest, but I'm sure if the powers that be want to they can hack their way into my stockcharts.com account.  

Speaking of Stocks Charts: 

Every serious trader should have an active stockcharts account, and when you sign up... be sure to include my (anthonyallyn@gmail.com) email address, in the referral area, so I can get a free month of service.

Motive      

The US will send a carrier strike group to the Eastern Mediterranean in support of Israel AP

"Along with the Ford the U.S. is sending the cruiser USS Normandy and destroyers USS Thomas Hudner, USS Ramage, USS Carney, and USS Roosevelt, and the U.S. is augmenting Air Force F-35, F-15, F-16, and A-10 fighter aircraft squadrons in the region"

Military Industrial Complex to the rescue! 

This serves several purposes/ motives, for the criminal cabal that masquerades as our elected government.    

1. Push Congress to authorize more spending, since they hit a speedbump trying to pass another Ukraine funding bill. Now I suspect they can funnel this money straight to the pentagon, where trillions more dollars can go missing, and unaccounted for. What a racket!   

2. This also sends a message to Iran, and Russia. After all, the Battle of Armageddon takes place in that area, just north of Israel, and whether you believe in the prophetic text or not, there are millions of folks who do, and many leaders who want to see it come to fruition. 

3. The incentive many countries - such as Saudi Arabia - have to drive Oil prices higher. Remember the oil well fires, and the need to protect our interest in the region, and the Saudi's suspected involvement, including Osama bin Laden himself (a Saudi)? 

4. Of course this could just be being used as an excuse to purge (ethnic cleansing) Hamas from Palestine, or it could be for all of the reasons listed above.

5. To control Climate Change, and decrease the population, the criminally insane cabal who run things, may even be planning a nuclear winter scenario. 

 

Nuclear war would cause yearslong global famine

Billions of people could starve to death after even a regional conflict, latest nuclear winter modeling indicates science.org


It's obvious to me they are planning an armed conflict with Russia, if not a full blown WWIII in the very near future, but probably not until next year at the earliest.

 I even think US markets could make new all time highs, and if Europe is sacrificed, then money will come pouring into US markets.     

This may give us time to create a survival plan, prepare for the worse  

As far as the market is concerned 

$SPY looks like it's about to test res. - chart last updated Monday afternoon 



$NDX NASDAQ 100 took out my (Friday) target 


Yesterday's close looked a little weak, so I'm thinking we need a stronger close, before we see the bears capitulate. 

Even oil looks kind of weak, and I'm in no rush to get short again. 

Fast Money; after announcing that the market was way oversold last week, is already getting bearish again. I think they're early.

Take care, 

AA 


Monday, October 9, 2023

Market Setup Israel Hamas War

Happy Columbus Day

Today is a banking holiday, so expect lighter than normal volume, and keep in mind that any cash trades are going to take an extra day to settle. 

Wrapping up last week: 

Friday was bullish as expected, all it took was for the $SPX to test support, before it bounced out of the hole. 

The employment number looked bearish, but it was only enough to shake out some weak hands 

The market's overnight reaction to the Israel situation doesn't change my bullish outlook.  

Oil

Oil bounces out of the hole, after calling the bottom last week. 



The Israel event is used as an excuse to squeeze the retail short sellers... Oil was up 5% overnight, but had pulled back slightly, this morning.

The news coming out of Israel is only being used as a reason to drive markets. Oil puts in a bottoming pattern, one day before war breaks out in the middle east, and there's a simple explanation as to how the chart predicted it, and that's because the whole thing has been staged.

This would explain why the lying lame stream media went out of it's way to try to sell the story as a surprise, and were also seen comparing it to 9/11 - one of the biggest hoaxes in history, to be pulled on the American public. 

I'm not the only one who sees what's really going on in the world:

 

Natural Gas 

Natural Gas rally continues to rally off the bottom, which was put in back in April. 

NatGas futures are testing the 2020 highs, and res. around the $3.60 level. 

 

Over 400 views on the weekly chart linked to the tweet below 
$UNG traded into a right shoulder on Friday, but looks like it's going to test the top of the range around the 8.15 level. Resembles a broadening triangle - or megaphone pattern. 



Gold 

I only mention gold, because Carter Worth turned bullish on Gold, just ahead of this Israel war thing, and this morning we see it up $20 

 Gold 30 min chart, looks just like the oil trade.  


That's uncanny, and that's what keeps me interested in charting markets! 

This morning: 

$SPX futures pulled back to the 4300 level, on a snap reaction.... I think it's going higher. 

$VIX  - seems to be working again - trading at 19 in pre-market. Of course 20 continues to be the magic number. That would be the thing to watch...

$TSX Canada has already rallied back into the green, so I don't see a wider (conflict) contagion being priced in. 

Take care, 

AA 




Friday, October 6, 2023

Market setup ahead of the Friday jobs number $SPX #Oil #NatGas

 After watching the market take 5-6 weeks to pull back a little, I think we're setting up for a countertrend rally. 

I think the $SPX could rally to resistance @ 4339, and as high as 4444 - 4450..! 

The market is looking for a weak jobs number - which would confirm that the fed is done hiking rates - and what the market wants, the market usually gets. I'm expecting a phony number.  

There's always the chance of another strong employment number, which would be used as an excuse to take out the 200 day moving average, which - in the end - would actually be more bullish. 

Monday is Columbus day, and that's a banking holiday, and that probably explains why I've never seen the market sell off on Columbus day. 

I can tell you which chart pattern to watch. 

$SPX - trades into a downturned triangle.  


I recently did a tutorial on triangle patterns, but I'm not sure this fits into any of the patterns I identified. Triangle patterns can be tricky! 

$SPX futures have traded into the same pattern, but seem to have already broken out. Not sure what to make of that. 

Tweeted 



Oil - looks like it's building a base, and I think after the big moves we've seen, there's a good chance it's going to remain stuck in a range for a while.  

I covered the rest of my energy shorts yesterday, but now I have my sights set on Natural Gas, which broke out in a strange way yesterday. 

$UNG - US Natural Gas - I can't show you my best Natural Gas charts, but I can show you where the breakout occurred. This looked hoaky to me. 


I'm thinking this is another bull trap, just as the breakout in oil was, but time will tell.  

I have several other sectors I'm watching. More on that next week. 

Have a great weekend, 

Take Care, 

AA 




Thursday, October 5, 2023

Oil Crash

 Bumbleberg's (Bloomberg's) calls for $100 oil suddenly falls on deaf ears, now that all but the most completely undisciplined oil bulls have been forced to sell their long positions, and the script has suddenly changed to "Oil crash" - according to the pump money's @ CNBC.    

 Did I not see this coming as clearly as the reversal in Tech stocks, as the lame stream media was pumping a new AI boom? I know, nobody likes an "I told you so", but.... It just goes to show; you can never trust the lying kleptocrats in the lame stream media. 

Off Topic: Ukraine 

Speaking of the kleptocrats ie the Kleptocracy masquerading as a free press, as well as our elected government. 

Kleptocracy (from Greek κλέπτης kléptēs, "thief", κλέπτω kléptō, "I steal", and -κρατία -kratía from κράτος krátos, "power, rule") 

A Kleptocracy is a government whose corrupt leaders use political power to expropriate the wealth of the people and land they govern, typically by embezzling or misappropriating government funds at the expense of the wider population. wikipedia 


CNBC Fast Money


I didn't intend to go off script this morning, but everyone seems to be talking about the ousting of the former house speaker Kevin McCarthy. Even CNBC fast money took the opportunity to chime in on how important "funding Ukraine" is, and after all, this is what all the outrage is really about. 

Bloomberg Weighs In  


If you happened to miss Bloomberg's personal attacks on Rep. Matt Gaetz, yesterday, it was really something to see!  I was really impressed on how he handled himself, as they went 2 against one - tag-team style in this interview!   

These people get really upset when you start calling for an end to funding (political campaigns, and the perpetual war (driven) economy) whatever the cash cow of the day happens to be.  



To be fair: these Venomous attacks are not only coming from the left, but also the right, because both sides of the aisle love a continuous supply of dirty money.... 

That's right; both sides of the political party otherwise known as the one party system, have been screwing the American public for almost as long as I can remember. It doesn't matter if your name is McCain, or Feingold, Bush, or Clinton. War = Money. Money = Power. Power corrupts, and "absolute power corrupts absolutely"!         

Getting back to the Oil Trade 

It's a little soon to be calling this a crash, but that didn't stop CNBC WWE from leading with that story, and even Bloomberg was seen trying to make more out of it, than it is - a 1 day sell-off of 5%.  

This may turn into a crash, but it's just way too soon to say.... 

What the Charts Say 

After analyzing the charts, and looking around at all the bulls on Twitter, still in denial about the situation, I decided not to swing trade into a bullish oil trade. 

2 Tweets of Interest 

Oil bulls trapped:

Who done it:


Timing: I figure the pro traders who took oil down, aren't going to be finished with it, until Friday, when they collect on their bearish Options. 

I'm surprised they took this long to take oil down, since it's already the holiday shopping season, but I suppose, as long as gas prices tumble, it's going to free up some cash for holiday spending, and help ease inflation, just ahead of another election. 

The Broader Market 

Trading the broader market is like a walk in the park compared to trading commodities. The broader market still looks pretty good here, but I think we're bound to see another shakeout on Friday, and Apple still needs to pull back....     

I'm not offering free targets to $SPY traders, but I can tell you that the broader market isn't broken. 

$NYSE New York Stock Exchange 



Furthermore: 

All the talk of the market being "oversold" is hogwash, and the $VIX could barely even poke its head above 20. So far, this sell-off amounts to a big fat nothing-burger. 

If it begins to turn into something more, I'll let you know, but I think we can count on the criminals who run this game to drive equities higher into the end of the year, as planned. 

Take Care, AA 


 



Tuesday, October 3, 2023

Advanced Elliott Wave Theory - Triangle patterns; Gold, Russell 2000, China, $DAX

 I haven't touched on Elliott Wave theory for a while; I've been wanting to cover triangle patterns for years, and this looks like an opportune time, since we have several markets which have recently traded into apparent triangle patterns. I say "apparent...", because many times you'll see what looks like a triangle pattern, but then it turns out to be a channel, or something else. This is just one of the things that makes triangle patterns so tricky. 

For the most part I'd like to try to identify the patterns themselves, rather than trying to determine which wave a certain pattern is trading in. That's rudimentary; you should already know - for example - that a leading triangle usually occurs in wave 1 (or A), or that sideways consolidation in a triangle may point to a wave 4, or complicated combination pattern.  

If you don't know basic Elliott Wave Theory, you may still get something out of this study, as many triangle patterns are called by other names which you may recognize, such as a "down-turned wedge", or a Pennant pattern, or even bull/bear flags. 

Different types of triangles: 

1. Leading diagonal triangles, and I'm going to include continuation patterns, in this group. 

2. Consolidation Triangles - upward/ downward, sideways (expanding, or contracting), and I'm going to include pennant patterns in this group. This can also be called a range, and contracting patterns are far more common than expanding (broadening) patterns.  

3. Ending diagonal triangles are topping patterns, usually found in wave 5. I see many markets, and stocks, currently trading into this type of pattern, so I know the end is coming soon, or within a few years anyhow. 

4. Broadening top, or megaphone top, is one of my favorite types of triangles. Can also be referred to as an expanding triangle top.  They take a long time to complete, but once it's finished, the resulting decline is often tremendous. This is the type of top we saw in Germany, just before the covid crash.  

Some technicians don't even point to triangle patterns, because they either aren't looking for them, or they don't trust them. Other times I see technicians pointing to triangles where there is none. 

I used to be guilty of the same thing. I like broadening tops, so I'm always looking for them, and that sometimes gets me into trouble.  

In order to avoid this, you may want to limit triangle identification to patterns that have nearly completed, until you become more experienced...

Leading Diagonal Triangle Pattern 

A good example of a downturned LDT pattern would be on the gold chart I was pointing to a few weeks ago: 

 $GLD - traded into a down-turned triangle pattern. Falls out of the bottom of the triangle. This is typical.  

I'm not going to predict what gold does next, and I can't even say whether, or not, the triangle is still in play, but it's a good example of a downturned triangle pattern that worked.

Here's an obvious bearish LDT in wave 1 - (or wave A) in the ICLN (clean energy ETF)

So much for clean energy being affordable! 

Here's a LDT on the 1 min. Oil chart - this morning. Probably a wave A


And here it is falling out of the pattern, into what I believe is a pullback in wave b. 


Watch for a rally into a powerful wave C, as soon as this afternoon! 

Bullish LDT Pattern - aka a Continuation Pattern 

We saw Tech trade into one of these over the summer.  

$DJUSTC (Dow Tech) - For Example 


Sideways Consolidation in a Triangle 

One Example that comes to mind is the broadening sideways pattern we've seen the Hang Seng trade into over the past 5 months. 

$HSI (Hong Kong Hang Seng) - looks like a broadening sideways range - probably in wave B. 

A good example of a contracting sideways pattern can be found on the Russell 2000

$IYM - Russell 2000 




A good example of a upturned triangle in a bearish wave B, would be in consumer staples 

 $XLP 


Of course you can see the same pattern occur in a bull market, where wave "B" looks like a pullback in a triangle, although I find that's pretty rare.

Ending Diagonal Triangles 

I have many real-time examples of overbought stocks, trading into ending diagonal triangles, I can't give away, but one of the best examples of one of these was seen in a setup for the infamous volmageddon trade. 

$SVXY - see the blue contracting triangle, followed by the crash.  



Broadening Top, or Megaphone Top 


One of the best examples of one of a broadening top, as I mentioned above, was the one on the $DAX, which I used to predict the 2020 crash. 

$DAX - The Climax of The Broadening Top 2020 


Copyright 2023 3XTraders 

Take care, 

AA