Getting Close to the double bottom

Started to take some profit from the short positions. Looking to add long.

 

Taking a ROKU Long

 Roku looks to be testing support in the 175 area. Looking for a bounce to 220-240 area.

The day of our Lord, November 24th 2021

Inflation is King.

Bad Breadth

 Everyone talking about market breadth - SPX at new all time highs while only 7% of the stocks with new 52 week highs

BITCOIN

 I'll be buying bitcoin on a move to or below 28K for a ride back up to the 39K-42K range. Quick scalp. May hit buy level today or tomorrow.

First buy level is 27,200-28,415 - 25%

Second Buy level is 25,500 - 25%

Final buy level is 21,500-22,500 - 50%

Ethereum should hold the 2,000 level. followed by 1800 then 1500

I'll be buying those as well

Devil's Advocate - Commentary to follow

 The reports of my death are greatly exaggerated

Indicators on SELLLLLLLLLLLLLL

 Indicators have turned to sell. I've been fishing and avoiding mask wearing. Who doesn't want to see this face?!?!?

AS EXPECTED

 AAPL did achieve a new all time high. Now was that wave 1 of 5, and in wave 2 of 5 now, or was it all of 5? That's the question. SPX went down in two equal waves. Stay on your toes peeps! Indicators are still on sell. 

4th Wave Triangles

 Lots of tech charts have broken higher from 4th wave triangles. This rally probably isn't done until January-February. Buy AAPL 117-114 looking for new all time highs. 

sell sell sell

This was the video that was supposed to display!

Indicators are back on sell

<iframe width="560" height="315" src="https://www.youtube.com/embed/i2uu6NF2inY" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen></iframe>

Geno's Take On Debates

 The winner was.....no one! I've never seen more petulant reactions then we've had from our two nominees. In fact, it made me put in a hiring order into my local videographers and editors for my own show coming soon. My show aims to be a commentary on the ridiculousness that is the election while highlighting how both sides refuse to condemn radical fringe groups for each party. You can write me in nationwide if you decide to do so. 

The market is in limbo. Signals have turned to buy this week, so we probably should abide. We're oversold on indicators and in the past the NDX, who's best month is October, has run up from 14%-37% in the following 8 months when we're this oversold.

Cautiously bullish seems the way to go here.

Debate notes: They brought up Brazil and the rainforest as a problem for global warming. This is the comment that made me decide to start a show. As I reason a nations resources are the sole ownership of that region/nation, therefore, with Brazilian rainforests accounting for near 5% of CO2 absorbtion, should they not be entitled to 5% of global warming tax credits? Should the rainforest nations not threaten to deforest the whole rain forest for the detriment of the world? Should they not be entitled to redeem monetary payments for their natural resource? If I were the rainforest countries I would feel I was standing on a pillar leg for global reiumbursement based on their hysteria of climate change. I think they should take advantage of that.

Some Shorts I recently took

 ZM Short @ 524

CVNA Short @ 227

RH Short @ 363

Sell Signal with Negative Divergence

 Today BPSPX is flashing a sell signal with negative divergence. I'm going to bet this one bigly. 

SPX to 2800-2700 in Wave B or 2

SPX has been on a moonshot, but the put/call ratio has shown there needs to be a correction and that's where we are at. Nasdaq has wave A up in the third wave an ending diagonal, wave B is next. SPX has a clean 5 waves up in wave A or wave i and needs a retrace to 2800-2700 in wave ii or B.

Won't let me post a pic so I'll toss it in the comments

OIL - 16.50-17.00 BUY!!!!!

Oil looks like it's tracing down the final C wave of a WXY correction off the 115 highs in 2011. The area I am most interested in buying is 16.50-17.

Next

we should see a large retracement down, but not taking out the previous low, followed by a monster rally that can be sold into on new recovery highs.

Get Long 3030-3050

Some bottomy charts. Think we'll get a nice pop before we set new lows.

Current Market Trend has changed to sell

Indicators on sell.

All Indicators Still on Buy: Ominous Charts Approaching

While indicators are still on BUY, there are some ominous charts appearing:


Negative divergences in SPX:VIX

Rydex Bull Funds/Bear Funds
at heights seen on last two peaks:

20 Day Equity Put/Call Ratio depressed:

BPSPX Currently with Negative RSI Divergence:

It is time to be prudent and watch for indications of a market top. Once I believe a top is at hand, and I do think we are close, the indicators on the site will change to sell. I expect the market to bottom sometime in April and end 2020 at 3488-3617.