TomNewYork

TomNewYork

On the left we see 29 trading days from peak. On the right we see 29 trading days from peak before the historical stock market crash of 1987. It is a stock market crash fantasy because huge stock market crashes are very rare events that are most likely not to occur. That being said, IF a crash is going to occur it would more than likely *only* start very soon...

TomNewYork

This pattern is from Bulkowski's pattern site. Carl Vanhaesendonck or Carl V discovered the pattern. I am seeing them on many major ETFS of USA and also world ETFs such as ACWI. For the SPY the target is 506. It is quite an extreme pattern and involves wild swings. Notable the VIX has a Carl V bullish pattern targeting the 60's. IF the target is met, the...

TomNewYork

Well it is or it is not. If this were a stock pattern, it would be price in a falling wedge moving down to tap its toes on support. But it is not a stock, its the VIX. 60 zone above is the 30 year + ceiling of max ressistance. Will we break up and through the wedge and attempt AGAIN to challenge 60 ??????? Maybe rest of this week provides clues.

TomNewYork

In one of my previous posts I was trying to see if we would get a 1987 plunge in the markets. This did not happen, but we did get a fairly standard decline and market correction. The question now is, will the mini bear down move be over and off to new highs? Or do we have something much more sinister in store for us as far as the DJIA. Google gets some blowout...

TomNewYork Updated 

There a millions of market viewpoints. The nice thing about tradingview is that for the most part the viewpoints are technical in nature. Put simply the technical viewpoint I want to show in the chart here is that the nasdaq composite is under heavy selling pressure. We had a rebound today January 10th, 2022, but it was nothing more than an intraday rebound. ...

02:58

TomNewYork

The gold price has triangulated for a long time. There are key trendlines that we must now focus on to get the next direction. We must investigate the possibility that the gold price wants to attempt a bullish move above the pink downtrendline. All hands on deck ! Keep in mind that if and when the metals move it is typical of them to make large concentrated...

TomNewYork Updated 

I am on watch for signs of a resumptin of the downtrend this week. A repeat of 1987 seems very unlikely. However I am open minded. Look for a couple of doji candlesticks early this week or flat close. Then be on watch for a big red down bar that closes back down UNDER the downtrend line. If this happens, and it happens very swiftly, we must be open minded to...

TomNewYork Updated 

Well if there was ever a time when to expect a crash, then this would be it. The market expects the incumbent to win, but if not then it may panic. This would be a similar move to the 1987 crash. Most do not seem to be expecting this type of move at this time. The VIX is also saying huge moves coming up and there is a similar fractal to the 1987 crash supernova.

TomNewYork

The yearly DXY chart shows that the 2 to 3 year target is 130 on the index. We see a one of the cleanest looking cup and handle pattern chart formations. There is a tradeable void all the way up to 120. This means the dollar will trade quite fast into 120. 120 could be time for pause. This 1 to 3 year move could potentially crush metals and commodities...

09:10

TomNewYork

I see at least a possibility that bitcoin has now embarked on a new steep uptrend line similar to the time frame of March 2013. There are points of evidence that the current price action will continue in classic uptrend style price action that is persistent and pushing higher consitently and then evolving into runaway price action. The bear market of first half...

TomNewYork

This might seem a bit farfetched but over the years I have learned to keep an open mind. So far gold price has only done a .382 retracement. The current yearly bar getting close to 6 months into the year and the bar is NOT expanding upwards and now it is turning down again... 850 seems like an extreme target, but the gold market is known for making extreme moves.

TomNewYork

Harmonic bullish bat pattern in uranium price recently. Plus 10 year GANN cycle completed on June 30, 2017 exactly 10 years from the previous peak at June 30, 2007. So a harmonic bullish BAT pattern and a 10 year GANN (the greatest trader who ever lived ) cycle on June 30th ? I will take those odds any day. I am no expert in GANN, but these confluence of...

TomNewYork

Potential Bearish Crab Pattern on the WEEKLY time frame. Caution advised. Possible top here into November 2017.

TomNewYork

I love K.I.S.S charts (keep it simple stupid). Why? Because they help clear all the mud out of a chart and the over analysis. Analysis is great and I love it when it comes to charts and technical analysis. However, too much analysis is sometimes too confusing and cloudy. Ultimately we want clarity as much as possible. For me clarity comes from the long...

TomNewYork

Sometimes harmonic patterns pinpoint the end of downtrends or uptrends in stocks. There is a bullish gartley pattern in GEVO and a bullish Bat pattern. There is a harmonic support in the 2.0 range. Watch for strength from that zone to get clues on if this pattern is giving the correct signal.

TomNewYork

Silver Gold ratio is near bear market lows/bottom. This is the Monthly chart and a double bottom and higher low was recently seen on the ratio with a monthly hammer candlestick. We may be pretty close to a final low bottom in the silver and gold. Gold may swing down one more time to near 1000, however miners may hold up better. This low in the metals seems to...

TomNewYork

Look for a huge upside move in the VXX during the next 10 trading days. The largest portion of the move is likely to occur during the last few days of the run. VXX for a very long time has almost been a guaranteed short downtrend type position. But now it is time for a significant reversal to the upside that will surprise. This forecast for 27 may be...

TomNewYork

SPY is moving into a highly volatile bearish phase that so far has disguised itself as a calm normal sideways trading range. This range will not remain sideways forever and my take is that we are at the juncture right now that the downside will be engaged. HUGE volatility about to hit the market, caution advised.