S WAVE CHARTS

[snootmagruder]

SPX 30, simplified, a pattern of higher highs and higher lows, looking for 4213
https://stockcharts.com/c-sc/sc?s=%24SPX&p=30&st=2022-09-01&i=p58056274507&a=307755350&r=1704451464129&r=1704451618375

[snootmagruder]

INDU: Here's another, new high for the happy family, probably get most to put in new highs by the March/April high and maybe have a straggler that doesn't and will take until 2025 maybe to do so.
https://stockcharts.com/c-sc/sc?s=%24INDU&p=60&st=2021-11-01&i=p30861413774&a=1280928307&r=1702996939908&r=1702997117188

[snootmagruder]

BKX chart: Shows what I am looking for. Drop into late Jan, rally to March/April and a deep drop into the election. The a (red circle) and c (red lines) of B should have some likeness.
https://stockcharts.com/c-sc/sc?s=%24BKX&p=60&st=2020-01-01&en=2024-12-31&i=p12313762575&a=1117331897&r=1702993686086&r=1702994125068

[snootmagruder]

IWM, Quite the rally last week, however that pink dotted line shows a perfect triple bottom that still needs to be dealt with (taken out)
https://stockcharts.com/c-sc/sc?s=IWM&p=120&st=2020-03-02&en=2024-12-02&i=p35499508241&a=462160483&r=1702898124488&r=1702898257260

[JK]

No downside ,,,
NQs already broke out - my target is 19150
ES should follow - possible target 5430

[snootmagruder]

IWM 30 min:
Yes, still looking for that below 160 in IWM/RUT
The timeline is looking farther out now.
https://stockcharts.com/c-sc/sc?s=IWM&p=30&st=2022-09-01&i=p17740813709&a=434502557&r=1701693706916&r=1701693827034&r=1701693891568

[JK]

TX - IWM really extended you call - do you still see it going below 161 next?

[snootmagruder]

I've had Dec 15th or a day or two later as the bottom for a while and it's getting to be maybe too soon although Dec 15 is triple witching and some real nasty drops often occur during the witching

https://stockcharts.com/c-sc/sc?s=NVDA&p=30&st=2022-09-01&i=t3594784808c&a=514360439&r=1701445593339&r=1701445723465

[JK]

If you have time, can you fork up NVDA?

[snootmagruder]

Looks like a rat tail daily candle in the works, good topping pattern

[JK]

As expected the rally did go till the end of the month - but now we can go down 😁

[snootmagruder]

Yea, I'm nearly always early, but Wilshire and RUT look to have stayed below my top call.

[JK]

Still drilling higher - you original 4575 SPX target might be reached

[snootmagruder]

TSLA 30 min:
Target between black and blue fork ends in red
https://stockcharts.com/c-sc/sc?s=TSLA&p=30&st=2023-01-02&i=t8342521810c&a=1090811870&m=o&r=1700155093333&r=1700155513811

[snootmagruder]

SPX 30:
I'm calling B done and ready to move toward C, target below 4000
https://stockcharts.com/c-sc/sc?s=%24SPX&p=30&yr=0&mn=8&dy=10&i=t9982259546c&a=307755350&r=1700080114108&r=1700080321595&r=1700080369844

[snootmagruder]

TSLA 5 min chart:
I had the fork on 30 min at an earlier anchor, think this is more correct and looks pretty good right here
https://stockcharts.com/c-sc/sc?s=TSLA&p=5&yr=0&mn=2&dy=10&i=t1735895496c&a=1239325292&r=1700062943072&r=1700063017571

[snootmagruder]

Having some doubts about going higher here, and the red fork in SPX 30 chart below sure looks good right here including TSLA
https://stockcharts.com/c-sc/sc?s=%24SPX&p=30&yr=0&mn=8&dy=10&i=t1272397740c&a=307755350&m=o&r=1700061190348

[snootmagruder]

TSLA chart again, two red ovals with possible targets, up then down into Dec
https://stockcharts.com/c-sc/sc?s=TSLA&p=30&st=2023-01-02&i=p97475360056&a=1090811870&r=1699994127782&r=1699994199449

[snootmagruder]

SPX 30 and TSLA charts:
TSLA chart has a INV H & S targeting about 255 same as my fork. SPX may well exceed earlier target and reach 4575?
https://stockcharts.com/c-sc/sc?s=%24SPX&p=30&yr=0&mn=8&dy=10&i=p98191908173&a=307755350&r=1699969347577&r=1699969435314

https://stockcharts.com/c-sc/sc?s=TSLA&p=30&st=2023-01-02&i=p86296798271&a=1090811870&r=1699969592214

[snootmagruder]

Hi W,
Here's AJ's link in silicone investor
https://www.siliconinvestor.com/subject.aspx?subjectid=60132

Here's the copy of it:
OK, Centerpoint (or Centrepointe, if you're Canadian) Gap Theory is when you have the start of a strong uptrend, get a daily gap up, a day or three consolidation, then another gap up and close higher.

Take the centerpoint as the middle of the consolidation on FCX between the gaps, which is about $36.22 (I figured it wrong before). Subtract the $31.36 low from it, and add it to the centerpoint to get the target high, which is around $41.08:
(The FCX chart (time wise) has gone beyond the definition, but my SPX 30 chart has it's interpretation in text and arrows.
https://stockcharts.com/c-sc/sc?s=%24SPX&p=30&yr=0&mn=7&dy=0&i=p95723640698&a=307755350&r=1699642993053

[wjzabs]

snoot - sorry for my ignorance, but what is AJs Centerpoint Gap Theory?
Can you explain what it means using your chart as a reference?

[JK]

ES 4391 is an important level - needs to break this to continue the ramp.

[keepsinvesting]

Its been a crazy one way trip in a single week, no one saw this coming

[snootmagruder]

SPX 30:
I added AJ's Centerpoint Gap Theory to my chart and it comes out the same
https://stockcharts.com/c-sc/sc?s=%24SPX&p=30&yr=0&mn=8&dy=10&i=t7938842900c&a=307755350&r=1699042462510&r=1699042766120

[snootmagruder]

SPX 30: Wave pattern in c of B to SPX 4460 where most will be bullishly looking for end of year rally and end of down move. Then the C wave down into December. RUT index took out last year June low but IWM did not and expect that to happen in Dec.
https://stockcharts.com/c-sc/sc?s=%24SPX&p=30&yr=0&mn=8&dy=10&i=t6348233864c&a=307755350&r=1698930345816&r=1698930555649

[JK]

ES 4352 is my first target

[keepsinvesting]

U have been early with ur calls after about mid year. Nice callouts though. IWM here now almost taking out last years lows

[snootmagruder]

SPX 30, bounce to between 4450 and 4520
https://stockcharts.com/c-sc/sc?s=%24SPX&p=30&yr=0&mn=8&dy=10&i=t7470447594c&a=307755350&m=o&r=1698348258920
IWM 30, bounce to 177+ then take out the 2002 Oct low early to mid Dec
https://stockcharts.com/c-sc/sc?s=IWM&p=30&st=2022-09-01&i=p67226181470&a=434502557&r=1698348486944

[JK]

I call ES 4181 a hit (cover) - preparing for a bounce

[snootmagruder]

https://stockcharts.com/c-sc/sc?s=QQQ&p=30&st=2022-10-03&i=p64637736812&a=412962100&r=1698176541622

[JK]

Do you also have an update for QQQ?

Tx

[snootmagruder]

SPX 30: Not much change, 4480 target around end of month
https://stockcharts.com/c-sc/sc?s=%24SPX&p=30&yr=0&mn=7&dy=0&i=p95723640698&a=307755350&r=1698019065565

[JK]

yes, first 50 ES points up from here would work for me, too

[snootmagruder]

My current SPX 30 minute chart:
I'm looking for some more up first, 4450 or more.
https://stockcharts.com/c-sc/sc?s=%24SPX&p=30&yr=0&mn=8&dy=10&i=t9569188854c&a=307755350&m=o&r=1697554193722

[keepsinvesting]

Im in agreement with that, strong support area since may’s looooong consolidation. 4140-4160

[JK]

I have a downside target of ES 4161

[snootmagruder]

SPX 30: added a blue fork with a 4525 target end of next week to the old 4425 mid week target black fork. Next week has some earnings coming out that the market will probably hold and wait for.
https://stockcharts.com/c-sc/sc?s=%24SPX&p=30&yr=0&mn=8&dy=10&i=p98191908173&a=307755350&r=1697202502328&r=1697202643641&r=1697202664303

[snootmagruder]

SPX 30 min:
The two red diagonals are equal length and the fork looks pretty good there.
https://stockcharts.com/c-sc/sc?s=%24SPX&p=30&yr=0&mn=8&dy=10&i=p98191908173&a=307755350&r=1696943504122&r=1696943651818

[snootmagruder]

IWM chart: Still looking for RUT to take out its Oct 2022 low from last year and this chart has a good fork on it pointing to 160 first week of Oct.
Then up to take out the August 2022 high and make the family happy again. Although IWM squeaked above the August 2022 high this past August, the RUT index did not.
https://stockcharts.com/c-sc/sc?s=IWM&p=30&st=2022-05-02&i=t5738181075c&a=434502557&m=o&r=1695316049433

[JK]

as always ES needed that 50% retracement before any downside can hapen - target now is 4290

[snootmagruder]

QQQ chart, My target is along that red diagonal with the green and blue forks aligning.
https://stockcharts.com/c-sc/sc?s=QQQ&p=30&st=2022-10-03&i=p42460679757&a=412962100&r=1692476855158&r=1692476977999&r=1692483400191&r=1692488442156

[JK]

I assume QQQ/COMPQ with similar setups?

[snootmagruder]

Hi JK,
Yes, Current SPX charts below
https://stockcharts.com/c-sc/sc?s=%24SPX&p=30&yr=0&mn=10&dy=10&i=t3825152415c&a=307755350&m=o&r=1692211539970
https://stockcharts.com/c-sc/sc?s=%24SPX&p=60&st=2020-03-02&i=p94915608888&a=256257406&r=1692211704374&r=1692211767841

[JK]

Hi Snoot,
finally some downside seems to happen.
Do you still see SPX going down to ~4100 and then up above 4700 before the large decline starts?

Thanks!

[snootmagruder]

The Happy Family made gains on taking out the August high and is now down to WLSH (that's $EMW now on stockcharts) DJA, both just a tiny fraction from it, and RUT which hasn't taken out the Oct low yet. This setup is very typical for the family and if it plays out as typical we'll see a good drop before these take out the August high. I'm still hoping for RUT to take out the Oct low first.

[snootmagruder]

There's head and shoulder formations on NYA,DJA,WLSH,IWM,MID,SOX and even SPXEW, just SPX,COMPQ and NDX do not.
I have some doubt that the drop targets for these will be reached though. My SPXEW chart below shows a drop just to the neckline.
https://stockcharts.com/c-sc/sc?s=%24SPXEW&p=60&st=2021-11-01&i=p26284544839&a=416690378&r=1688894822711&r=1688895129824&r=1688895369711

[keepsinvesting]

these have been a tough short tbh. NQ however is more volatile

[JK]

ES target is 4340

[JK]

mainly US markets

[keepsinvesting]

:D

Do u trade other assets or just the US indices?