Due to the super important nature of where markets are now, I thought I would take a break from my board sabbatical and publish one last set of HUGE clues to look for going forward. Then it is back to the garden.
While others have been watching buy signal after buy signal get "busted", which "should" be telling them something (some are slow learners), I have been detailing step by step for some time how this was all going to unfold.
Will not go into the details, save for a few examples today, but suffice it to say that while others hope to make 30% over 18 months or so, I "bet the farm" levered short in a variety of stocks on the day Tesla busted 204, as I said I would. (signal actually came at 205)...and I made 30% on the portfolio last WEEK...and there is likely a lot more coming.
What I want to point out today, is that you really only need to watch 2 more stocks now, as most of the others have now broken, as expected, some in dramatic fashion, out of the "rolling over 4 hour charts" that I have been harping on ad infinitum. If you do not have multi-timeframe wave analysis in your tool box, you are doing yourself a great disservice.
So the two stocks are now JPM and AAPL
I currently believe Apple gave the equivalent Sell, Mortimer, Sell signal that Tesla did at 205, on the breach 152 last week. But it is a breach of 143 now that will kill it dead, as ITS 4 hour chart rolls over.
Let me use a little analogy. The market has been getting more and more drug addicted over the last 40 years, and it finally went to full on mainlining Heroin during Covid.
Now, not only has the drip been money drip taken away, but now we have the biggest, fastest rate increases in history.
How could there NOT be terrible withdrawal symptoms? This is not Rocket Science by any stretch of the imagination.
And Commercial Real Estate is just STARTING to crash. Maybe next time, when you see a huge Island In The Sky (pointed out Real Time as it happened), you will actually know what to do, eh?
and look at, you guessed it, the 4 hour
On JPM, and the reason I took big profits on Friday morning (pending outcome of Powers That Be moves over the weekend), was that it hit the first really big and SUPER IMPORTANT support level in the SVB panic, while the others BAC WFC, and especially #6 largest bank PNC, not looking so hot.
So, below is a series of charts that that shows where JPM is on multiple time frame analysis.
First, we had a simultaneous break of the 5,15,30 min time frames coincident with a 4 hour rollover....if this is not a huge red flag, then red flags do not exist.
5 - now trending down
15 - roll just getting underway.
30 - 200 coming hard over the top, after what looks like important breach of support
and 4 hour- bulls huffed and they puffed, and then they huffed and puffed some more..but importantly COULD NOT GIT ER DUN.
AND....since I ALWAYS have a Plan B...bulls do have ONE LAST SHOT at saving things, and it requires that Friday's low on JPM is not broken, because as you can see on the hourly and daily below, we go full on Synchronous Cyclicity downside if it does get broken. And if it breaks, there is NO TELLING how bad it could get, but it could be really really bad. BAD things happen below the 900...
So, if the largest bank in the country, JPM does not have a STELLAR rally out of the Friday hole that clears 140, buckle up. My best guess at this point is that the hourly and daily pivots below WILL fail, but if they do not, and pretty soon, then the wheels maybe do not completely come off yet.
Hourly...last chance saloon for bull most likely.
Daily...Massive air gap in weekly chart if Daily fails.