Technical Analysis of the stock market, Bitcoin, and trading systems April 25th – 26th 2024

Technical Analysis of the stock market, Bitcoin, and trading systems April 25th – 26th 2024

hello everyone this is Matthew Frey with
breakpoint trades.com we’ve been
bringing you Advanced technical analysis
Market commentary trade ideas and
Advanced Mechanical trading algorith
algorithms such as our 21 spyes mean
reversion systems which has closed out
some amazing trades this week hopefully
some our some of you guys took that our
subscribers certainly did and of course
our kiss Trend following systems all
right wild action today in the markets
lot to
discuss the es Futures were down 100
points in the
morning and then they recovered quite a
bit again I’m going to discuss
everything in detail so let’s go and get
started with that so again this is a
detailed technical
analysis of the markets and our trading
systems and it’s April
25th
2024 this is our back in recorder for
our standard web page format which I’m
going to start
now hello everyone this is Matthew FR
with breakpoint trades.com this is the
Thursday April 25th
newsletter wild action of the markets
today as you know I’ll get back to that
but anyway this newsletter is divided
into six major sections first thing
first section we’re going to have our
opening discussion then we’re going to
talk about some of the mechanical
trading systems a
bit we’re also going to then move into
the general marketting analysis where
we’ll look at some of the big cap Tech
stock earnings we’ll also look at the
major indexes the S&P and the other
major index is the Dow triple Q’s small
iwm small caps we’ll look at a few
indicators we’ll look at a few Market
sectors we look at the US dollar crypto
Bitcoin and crypto stocks Commodities
precious metals GDX we’ll look at a few
trade idea setups I didn’t add any new
setups tonight again as far as the
market again as you know coming into the
weekend we were quite
oversold especially if you watch my
weekend newsletter we were quite
oversold you could count five clear
waves to the downside the S&P 500 was in
a perfect downtrend channel so we were
expecting a rally some sort of oversold
rally plus we had of a lot of our mean
reversion systems had scaled into the
pullback well we got that rally for the
first two and a half days of the market
into Wednesday morning all right
the um
then yesterday Facebook reported
negative
earnings and market futures fell on that
and then of course this morning you had
weak economic data such as the GDP so we
had a very strong gap down on the cast
indexes the Dow Jones was down over 600
points in the morning the S&P was down
about 85 points from Wednesday’s close
close and we’re down about 100 points
off of Wednesday’s highs
right and then we had a nice recovery
bounce today where the S&P was down only
about 23 points again it was still down
for the day at about a half
percent that was down about 1% NASDAQ
lost 6% again nice recoveries off those
lows for the week the indexes are still
up quite strongly with the S&P 500 up
1.6% NASDAQ up
2.3% for the week
okay and going to go over a couple
educational items here guys just to show
you the wild action and again we’re also
really big on education here so let’s go
ahead and get started with that so the
first image below item number two here’s
a 15minute chart of the S&P 500 cach so
again this is what I was talking about
coming into Monday you know last Friday
we had clear five waves to the downside
whenever you have five waves to the
downside or upside you always want to Be
watchful for a market reversal okay
because five waves is generally
completing pattern so we had five waves
made this channel we broke out of that
channel on Monday morning okay then we
rallied up
until Wednesday
morning we had five clear waves to the
upside you see this five ways this is
important my comments here so
we were looking for a pullback in the
market and then we had Facebook earnings
on
Wednesday Futures and the cash Market
this morning looked horrid things looked
very bad but we were favoring a higher
low why because you had five waves up as
I State here this is important had you
only had three waves up off of Friday’s
lows then that would have argued for
another low but because we had five
waves
there’s a couple different ways to count
this one would you know a bullish way
would be this is wave one and you’re
looking for a high deep retracement
higher low wave two the other thing
which I favor though is five ways of
wave a a higher low is a wave B which it
looks like we put in and then now we go
up in wave C now once that wave c ends
then I’m looking maybe for another
decline in the market but the five the
point I’m trying to make to you guys is
whenever you have five waves like this
that was indicative of a higher low
price also pulled back into this demand
Zone where it found support
now after hours here today remember
yesterday we had meta report earnings
well today we had Microsoft and Google
and of course they knocked out of the
park they’re up strongly and that has
brought
Futures back up to essentially right
around Wednesday’s
highs let’s take a look at
that image number three so here’s es
Futures on a couple couple different
time frames 6h hour time frame 78 minute
so again Market as you know has been
selling off since the beginning of
April stair step fashion you can see
last Friday es bounced off this support
Zone going back to late February rallied
up we had a little DeMark 9 we sold off
yesterday and then strongly overnight
into this morning we found some support
here high or low and then we rallied
after hours after those big cap Tech
earnings from
Microsoft and Google and you can see
we’re essentially back to Wednesday’s
highs now so big recovery here you can
see had a nice clean downtrend line
which we again right after the market
closed today on those Futures on those
Futures popped strongly on those
earnings okay next big resistance zone
is up in
here in this Supply Zone
next image number four so coming into
this week quite a few of our mean
reversion systems had started to scale
into the market on that pullback that
we’ve had in April so we’ve had these
mean reversion systems on we had three
of them that had triggered on the Spy
ETF three of them had triggered on ES
Futures all of them closed out for nice
winning trades okay and sometimes these
can be a little early at time you could
see the CCI Divergence trade on the
upper left
entered last week and then you know that
was a bit early then it had a second
entry it didn’t take a third almost did
but it managed to close both entries
nice winning trades you could see the on
the Spy the trend pullback had two
entries one early last week and then one
last Friday essentially at the lows was
a good entry nice trade and you could
see before that about a week and a half
ago there was another trade that got in
and got
out and on the qbts same thing nice
trade double entry on ES nice trades I
bring this up because on the bottom left
the this was the one system that was
that had closed out the last system they
closed out on Wednesday okay still made
nice gains here especially the second
and obviously the third entry the other
five had closed out on Tuesday this one
closed out on Wednesday just in time
before that market pulled back of course
the market is back you know back above
where these exited but again all very
nice trades remember these meanor
reversion systems they’re not trying to
stay in Tire Trends they see a trade
opportunity when things get too
stretched they get in they get out and
they make money they have around 90%
winning trades so congrats to everyone
who took these trades they were very
nice trades and as far as the Futures
here guys again Futures are not for
everyone but you don’t have to trade
Futures you could substitute these
Futures trades you could substitute ETFs
in place such as spy and SSO and upro
stuff like that there is a benef major
benefit to trading futures for tax
benefit it’s the 6040 rule where you get
to treat 60% of your capital
gains as
longterm and 40% as shortterm whereas
stocks you know you have to hold them
for a year or longer to get that so
that’s the major benefit to es Futures
and why a lot of the more wealthy folks
trade Futures over the ETFs okay but
again if you if Futures are not for you
you don’t have to take these systems on
the Futures you could do them on ETFs
substitute ETFs in place next image
number five so here’s the trade tables
for the mean reversion systems for spy
and Es this year for
2024 it’s the spy at the top so the
trades that all closed out this week are
just above this horizontal line every
one of them made money and on ES Futures
here
they actually had more entries for ES
really nice gains here the only minor
loser was the uh Trend pullback first
entry which lost
$66 but the second
entry um made $600 $300 the third entry
made $1,600 so nice trade it’s getting
congrats to everyone who followed them
the mean reversion systems are not
always easy to follow because they’re
buying into sell-offs pullbacks they buy
when it feels bad all right they play
with your emotions so they’re not for
everyone again that’s why we also have
our kiss Trend systems so you know but
really we cover both bases of the market
with our systems the mean reversion and
our kiss Trend following systems the
kiss systems on the indexes got up went
to cash over a week ago so they’ve been
in
cash all right moving back to the
General market so item number six shows
the index sector table what transpired
today in this week again you can see the
indexes did close down but well off the
lows okay the
S&P 500 like I said was down about 85
points in the morning managed to close
down only about 23 but still losses for
the day but the important thing is
everything’s up for the week still the
Dow is lagging only about a quarter
percent S&P is up 1.6% NASDAQ 100 is up
2.3% as far as the 21 Market sectors
today basically about 5050 were up and
down
all right communication Services was the
weakest that contained some of those
Fang stocks like meta as we know got
absolutely hammered you know so again
kind of a mixed bag here of up and down
on the sectors now for the week all the
sectors are up except for two
communication services and metals and
Mining currencies US dollar down 0.2%
down about a half percent this week
Bitcoin has been rallying up with the
market it tends to follow the market
quite honestly to me it’s not really a
hedge for the market it’s more of a
leverage play on the market down
slightly for the week this crypto stocks
have been kind of all over the place but
they’ve bounced off their lows
Commodities the DBC index was up a half
percent it’s up 0.85% for the week crude
oil up 0.9% today up 1.6% for the week
natural gas up again it’s up big for the
week up
133% copper up
1.8% the only real ities down today were
agriculture which has been you know in
very overbought territory and sugar
precious metals gold and silver up both
up about 6% still down pretty strongly
for the week GDX the miners came roaring
back up 3.6% that’s a big move greatly
outperforming gold and it’s actually up
for the week and as far as the bond
market the 10 year 30-year we’re up
today
next item number seven shows the
economic news calendar again yesterday
we had Facebook earnings which sent
Futures down and this morning we had you
know initial initial jobless claims GDP
we had weak economic data showing
increased inflation Market didn’t like
that and that’s one reason Futures
really sold off but then again like I
said they recovered quite a bit um by
the
afternoon and tomorrow Friday we have
personal incomes uh spending pce
and core pce and Michigan sentiment and
got obviously we’re in earning
season next let’s look at some of these
stocks with the bit earnings so here’s
meta again meta reported yesterday on
Wednesday was down strongly in fact on
Wednesday after hours it nearly filled
that open Gap at 400 very very close
Okay that was actually a good area to
probably pick up a few shares today
obviously well off those uh gap down
lows still down over 10 and a half
percent for
today next jber nine here’s Microsoft
remember I stated Microsoft would be
reporting today after hours they did and
that stock is strongly up in fact it’s
trading up here around 417 and after
hours again so it’s not at new Highs but
it’s recovered a lot and it had pull
back near this support area down here
from the November
highs next TR 10 here’s Google
they also reported today and they’re
Google’s trading up around 176 an after
hour so basically a new high Google was
holding up really well anyway
finally jber 11 here’s Amazon now Amazon
doesn’t report until Tuesday April 30th
next week after the close uh but it’s
actually trading up after hours and it’s
trading up around 180 so right
essentially yesterday’s highs right
there you can see today price got into
this demand Zone it bounced off a
bit all right guys so crazy volatile day
but you did have a tra buying
opportunity today on that weakness we
were faving a higher low I know it would
have been tough emotionally to do it but
it did play out next let’s jump to the
index analysis CH number 12 here’s the
Dow down like I said about 1% today been
weaker here lately than the others
nice correction from the you know
mid-march highs there from the little
double top and the channel break where
symmetry was broken and still a lot of
work to do here the next real demand
zone is down here where I’m showing
around the 37,000 area I think that
could be tested over time and then maybe
the 200 day moving
average and um my guess here is that we
have a we had an move an a move up this
was a b high or low maybe we get another
c-wave
something like this so we had to move a
up we got a be higher low maybe we get a
c move up but because the Symmetry break
then maybe we come down again that’s my
guess for now same on the other indexes
which will’ll cover
next
next choer 13 moving on to the S&P 500
is the weekly chart still up 1.6% this
week like I said bounced so far off this
20 we mov an average moving average
ribbons pinched on the weekly bigger
long-term support is down here which was
previous resistance in
2021 now potentially support on a bigger
correction Cher 14 here’s the daily
chart of the S&P remember this broke
symmetry a few weeks back when it fell
through this coil price pulled back more
than 130 points off the highs remember
130 points was was previously the
largest pullback in the uptrend so you
broke symmetry we’ve got a good sell off
we filled an open Gap we bounced off a
little demand zone right here so here’s
kind of my guess that move up that we
had early earlier this week was a wave a
the Deep retracement today is a wave B
maybe we get a wave C up but because of
the Symmetry break I am looking for a
lower high guys all right so I am
looking for a lower high then maybe we
come down again and maybe we form a
better bottom okay
why is that it’s because again we broke
symmetry so let’s take a look at that so
image number 15 here’s my slide on
symmetry like I stated we broke Symmetry
and generally when you break symmetry
you form a lower high so that’s why I
think this move up could be a wave C but
form a lower high
ultimately next Cher 16 you know these
inverse ETFs spxu which I put out back
in late March early April which provided
an excellent trade and honestly come
coming into the day it still had a bull
flag look I mean look at the volume
patterns just looked really good so
wouldn’t be honestly this wasn’t a bad
thing to buy yesterday on that pullback
in fact it still looks okay honestly but
you know maybe if that market does that
ABC maybe it pulls in a little more to
these moving averages here maybe that’ll
be a good buy
opportunity chor 17 here’s the daily
kiss again kiss system did its job
remember this went out went to cash last
week at
5082 it is in cash now it’s waiting for
the next opportunity that’s what the
kiss systems do they go their Trend
following they’re long only they set
these smart trailing stops move them up
to allow you to protect yourself and
protect your gains so right now it’s in
cash we an average ribbon you can see is
now bearishly
stacked this is nowhere near going close
going back long yet treor 18 here’s the
four time frames so again you can see
how we we got very oversold like I said
coming into
Monday very wide moving average ribbons
various to Marks we bounced up in
Tuesday Wednesday found resistance
around the atrs here
okay jber 19 here’s a half day chart of
the S&P remember we filled that Gap we
got into this demand Zone where we
bounced off
of uh from Monday until Wednesday
morning morning then we pull back higher
low so far and which we were favoring
now we’ll see if we can get another move
up maybe a good area Target for this
potential wave C could be up around this
50-day moving average and then I’m
looking for maybe another
decline
next chard 20 here’s that 15minute chart
which I already discussed above and like
I said guys educational thing the we you
know it was scary this morning emotional
on the big you know 80 85 point gap down
on the in the market on the cash Market
things look like death but price had
pulled into this demand Zone we were
looking for a higher low because we had
five waves up that’s the key if we
hadn’t had five waves up here from
Monday until Wednesday then we wouldn’t
have favored a higher low that’s a key
Point that’s an example
of the power of technical analysis okay
anyway after that five waves you can see
had three waves down which is what you’d
expect if this is a wave a if that wave
five was a wave a this is likely a wave
B higher low and then we move up and a
see price right now after Mark after
hours with the Futures S&P is trading up
around back to Wednesday’s highs
now
next jber 21 here’s another 15minute
chart showing you the same thing and you
can see we retraced around just around
that
61.8% today and it’s an important area
because we
could we blew through that with the
Futures but reason I’m showing you this
chart guys this has the price by volume
and you can see
here no you know how I mark this is a
thin Zone you can see the candle here
there’s essentially no consolidation so
if price got into this area it would
easily fill this but I’m showing you
that the price by volume shows that thin
Zone as well you see how small that
volume bar is so it just confirms that’s
a big old thin Zone above so tomorrow if
we Gap up nicely if we get above
Wednesday’s highs I’d expect price at
least to fill this Gap go up to that
5110
area
next Cher 22 is a FIV minute chart
showing the wild action today the huge
gap down we quickly found support the
first half an hour and started chopping
higher you can see we didn’t quite fill
that open gap on the
cach obviously that’s being filled here
with the Futures after hours we so as
long as Futures hold up that should be
filled right away
tomorrow next Cher 23 here’s the triple
Q’s again that a tight coil pattern
couple weeks ago which broke to the
downside broke symmetry moving average
ribbon turned bearishly stacked we
rallied up formed a
higher formed a lower high there we were
expecting a higher low which so far we
have and of course with the Futures
after after market they’re up nicely so
again same basic pattern as the S&P a b
maybe get a c move up a good area for
this to potentially stall would be
basically right around this area right
where you see these major moving
averages and the lows here on these
various candles
next trer 24 here’s the kiss system kiss
system is of course went flat on the
triple Q’s last week it is in
cash
Cher 25 here’s the weekly view of the
cues so this shows that nested 1212
count and um that last high again
appears to be a wave three of five we’ve
had the first initial Decline and we’ll
see if this ends up playing out has I’ve
had this drawn for many months so we’ve
had initial pullback we’re getting a
bounce here let’s see if we form a lower
high wave B so again this would be
essentially a zigzag a b c you get a
lower high B then you come all the way
down again find big support down in here
as a wave four then we get another rally
to a new all-time
high so nothing’s changed with our
thoughts there chter 26 here’s the
triple Q’s on the half day chart and we
filled that one open Gap
nice move up this
week a higher low this morning and then
we’ll see tomorrow we can get up into
these upper resistance areas around
these moving
averages chter 27 here’s
a two-hour chart and we got into this
demand
Zone formed a lower high there on
Wednesday pulled back bounced off of
this
area again your bigger resistance now
tomorrow if we get a nice Gap up would
be up around this anywhere from
432
436 chubber 28 here’s a 15minute chart
of the cues again you have the same
thing you have the same wave counts here
you had five waves up I don’t have them
marked here we started that resistance
on Wednesday you could see going back to
April 16th three-wave pullback ABC into
a demand Zone where we’ve bounced nicely
form the higher low and with Futures
tonight price is likely up around this
back to this resistance area
here next Sher 29 here’s the four time
frames with our custom indicators again
coming into this week you can see on a
half day chart look how wide that move
and average ribon was is it too wide
think of that as a mean reversion as
well it was due for a snapback got a
Demar nine there as well we’ve rallied
back still below the ATR that’s likely
to be tested tomorrow we’re testing the
ATR in 130 minutes
we’re above it on the 78
minute dber 30 here’s iwm small caps
remember they had that absolute techbook
textbook five wve ABCDE Rising wedge
with the macd
Divergence price sold off into the
demand Zone got pretty close to 200 day
moving average found support there that
was a good area to take along and uh
otherwise very shortterm the patterns
kind of similar to the
others D 3 one iwm in the 2hour on the
weekend I showed this falling wedge into
this big support area and it gave a nice
trade now the trade stalled at this
initial resistance up here you see that
pull back performed a higher low which
we’re looking for now we’ll see
tomorrow’s move we get up into this area
note there’s also an open Gap up here
around the 205 area that’s
unfilled Cher 32 here’s the 60-minute
view of iwm shows you the same thing
here I added some fibs
we the low this morning was just shy
just slightly exceeded the 61.8 FIB now
testing a little downtrend line
here and the leverag way to play it was
TNA that’s the triple leverage DTF and
that triggered wider away on Monday nice
move
next moving on to some indicators here’s
the vix so the vix has been melting down
last Friday had that big Black Candle
which was outside the Binger bands that
closed back inside so to me and that was
options expiration that was a that was a
pretty good sign that the market was
going to have that oversold rally ear
this week which it has and the F has
continued melting down dber 35 here’s
our NYS SII 9 ma crossover system
remember this gave a confirmed short
trigger back in early April which has
provided a nice trade now one thing I
commented today is despite the rally
this week this is barely budged at all
so this is nowhere near close to
Crossing back for a Buy Signal so that
not surprised there so it’s still on a
short chapter 36 here’s the very neat
indicator it’s the percentage of stocks
in the S&P 500 they’re trading above
their 20-day EMA so one thing I
postulated on the weekend was you know
we had this was quite oversold around
the 10% area but a lot of these past
major bottoms you had a one two effect
where you had your initial low move up
then down initial low move up back down
number two same here initial low around
10% actually this was around 5% rallied
up came all the way down and number two
which end up being the better low trade
low so that’s kind of what I’m
postulating here we had an initial low
it popped up this week maybe eventually
this comes down again for a a number two
and that’s your better low that would
certainly fit with the wave count I
presented where the
S&P is unfolding in this ABC the wave C
should go up but then ultimately come
down
again next moving on to the bond market
jber 37 Hyo corporate remember this
found support around that man Zone
bounced up stalled around the 20 50-day
moving averages here up to date for
bounce back off the lows today
Cher 38 here’s the 10e treasury yield up
once again up
1.16% today still in this uptrend
channel Cher 39 here’s TLT 20year bonds
again still in the same old downtrend
channel dber 40 here’s the yield curve
it continues to push up up about 1.5%
this week so far we want to keep an eye
on this because it’s been inverted for
over 500 days and when it goes back
uninverted so when it goes back above
one here the
ratio that’s typically when you’re
official recession start and I firmly
believe we’re going to get that
okay chapter 41 this image this chart
from Game of Trades shows you the yield
curve as well but back in the
1920s you know as he shows you know we e
curve has been inverted for over 500
days now past three times it was was
inverted that long 20078 19 7374 1927 29
all those had 50% Market Corrections
whether we see that now or not you know
this time whenever
we the uh yield curve goes back who
knows but it is just something to be
cognizant
of moving to a few Market sectors Cher
42 here’s xlk technology again bounced
off that 38%
Fib from Friday’s
lows and the open Gap everything matched
up you had two big technical events
lining there we rallied up stalling at
the 90 MAA pulling back now again with
Futures tonight like it to see this pop
up bigger resistance is obviously up
here this previous breakdown from the
descending triangle that’s now
resistance and the declining 20-day
moving
average Trevor 43 xbi
biotech rallied up off the 200 day
moving average stalled at the 90 ma
coming down again now this next low here
is setting up some RSI convergence so
you may want to keep an eye on this
there’s also a demand Zone down
here Cher 44 XLE energy has been
bouncing up all week as you know still
not back to the
highs Cher 45 oil
services still holding support of the 50
and 200 day moving averages to me nice
pullback off that resistance from early
April to me I thought that was a good
area to at least have a new new new
starter long position in some of the
energy
names next tber 46 US dollar down today
quar per kind of still has this little
flag look to it but it has pulled back
from that resistance
Zone CH 47 Japanese Yen remember this
showed this descending triangle pattern
a few weeks back which broke to the
downside continues lower Japan has real
problems guys especially with their
birth rate it’s extreme crazy
low you know it’s like no one none of
the young people are interested in sex
there basically or at least having kids
next D 48 here’s Bitcoin Bitcoin did
hold that big support area rallied up so
far as a lower high though again to me
this is kind of moving with the market
at the moment one thing guys this is a
big big self support around this 60,000
area so in the future if this comes down
and breaks this right here this is
essentially a very Zone
and no support you can see it confirmed
on the price by volume so price
eventually comes down and breaks this I
think Bitcoin quickly Falls at least to
this next demand Zone if not the 200 day
moving average remember the 200 day
moving average is sloping up so the time
you get down to there it’ll likely be
caught up with
that tror 49 there’s the 4our chart of
Bitcoin shows you the same pattern as
well here I added a downtrend line of
monitor if you can get above that
Cher 50 clsk one of the Bitcoin stocks
this is this was showing relative
strength after breaking out a little
pattern gave a nice trade pullback find
finding some support around these moving
averages kind of has a flag look to it
here both flag
look moving on to Commodities Char 51
DBC up 85% for the week remember it’s
still longer term in a coil here I do
think eventually it’s going to break
through that
coil Cher 52 crude oil
I added this channel last night so it’s
been holding this channel line remember
few weeks ago it pulled back off that
Supply Zone but this is your big support
here is the
Channel sharber 53 Uso the proxy for
crude oil it’s an ETF obviously it has
the same
pattern dber 54 natural gas up today a
little bit remember I’ve been showing
this falling wedge you have some mag
Divergence here still in the wedge
pattern so we’re still monitoring this
thing
jper 55 natural gas on the monthly chart
goes back to
1995 like I said natural gas um interest
in it here for maybe a pretty decent
bottom trade because you know it is at
basically a
1990 basically it is at almost a 30-year
low
now Sher 56 copper up about 1% this week
so far nice move out of that coil
pattern from a couple months ago
sharper 57 DBA down today basically an
inside day from yesterday we have this
Divergence that’s building but price
Still Remains very strong again just
keep those stops pretty tight I would
also check where the stop is on the kiss
system the kiss system went long back
here in February so the kiss system is
absolutely nailed
that chor 58 there’s the weekly chart I
just love this chart absolute beautiful
cup and handle again this is one reason
why inflation is so high especially at
the grocery stores here’s the monthly
chart again nice long-term move out of
that 2020 lows there is a demand zone
right in here that we’re at right now so
area that we could struggle a
bit moving on to the precious metals
chart 60 here’s gold now this is the
weekly chart gold still down about 3%
for the week again it had a major
long-term breakout as you know back in
February dber for 61 here’s the daily
chart of gold up slightly
today stocks are outperforming here a
bit so that’s a positive for now again
we either have a major high in Gold here
as a wave C or maybe that was a wave
three this is a wave four pullback
because there was no ma Divergence
that’s why I’m still open to this wave
four treor 62 there’s the two-hour
review of GLD now this does suggest a
completed count a couple weeks ago is
that wave five of five we got that lower
high Trevor 63 there’s the monthly chart
again guys don’t get me wrong even if
they have a better High here long term
they’ve broken out of a major pattern
big cup and handle appears to be in a
wave three so you know if gold wants to
consolidate here for you know a month or
two that’s fine to me long term I think
it’s going much higher I think nice
pullbacks are major buying
opportunities Cher 6 four silver again
nice breakout from the ascending
triangle remember that previous breakout
is big support so if Price ever gets
close to that that’s a good area to
start scaling back into silver because
to me Silver’s had a major breakout
here’s the weekly chart of Silver S so
ETF you had a major breakout from this
bullish coil pattern so again to me
pullbacks are buying opportunities and
if you’re longterm I think you could
probably just stay in it depends on what
your time frame is if you’re short-term
trade or a longer term but I do like
this longer term I think it goes much
higher over time here’s the monthly
chart like I said so far well off those
highs pulling back off the 2021 Highs
but still out of the coil this four-year
coil I do think over time it’ll rally up
into these upper
40s some individual names here’s AG
Majestic
silver I showed this a couple months ago
as a falling wedge on the weekly time
frame with this ma Divergence beautiful
pattern AB CDE e broke out I said a nice
pullback would be a buying opportunity
so did any of you buy this on this nice
pullback me that looks
bullish another one here’s wpm little
silver stock weekly this is one I was
also talking about you know and this
one’s breaking out to new
highs dor 69 there’s the daily chart of
wpm um had a nice tight coil recently
what you’re breaking out
of driver 70 here’s GDX this is the
weekly chart up 75% for the week
bouncing off that nwe
EMA could see a resistance areas above I
do believe those will eventually be
taken
out trer 71 here’s the daily chart of
GDX one way to the bullish look on this
would be that this is simply out a
three-wave ABC pullback and it’s going
to go to a new high again here again we
had our buy trigger back here on March
1st on this channel break confirmed also
by the trend line breaks in the GDX GLD
ratio and RSI trend line
break tror 72 here’s the two-hour chart
Steve showed last night this channel now
we broke the channel today so that’s a
positive as
well next trer 73 our GDX trading system
bpgm marinco system remember this gave a
Buy Signal back here on March 1st
amazing Buy Signal it has now moved up
to 82% so it’s an overbought territory
again it hasn’t given a sell signal yet
but it is up here guys let’s take a look
at some other individual stocks here’s
numont numont big day basically they
they had a good earnings so they had
good earnings they gapped out of this
bull flag pattern this is the largest
component of
GDX trer 75 here’s the weekly chart
again found support this year at the
2020 lows and this weekly chart looks
pretty good you can see the ratio
breaking as well Cher 76 here’s rgld
Royal gold breaking out of a flag
pattern here now today looks
good here’s the weekly chart kind of has
a bull flag look to it here on the
weekly and chor 978 GLD baric gold so
basically it pulled back to this
neckline which became
support all right finally let’s move on
uh look at some other things here’s
Tesla as you know Tesla was selling off
but it’s bounced back nicely this week
as you can see and it was up today it
was up today in the morning when the S&P
was down 85
points jber 80 here’s AMD which had a
heck of a correction but it’s pulled
back to the support area it’s trying to
bounce this one has earnings next
Tuesday April 30th this could beginning
to be lowrisk buy down here let’s take a
look at the next chart so chart 81
here’s the kiss system directly from the
website you can see the kiss system on
am AMD it caught a nice trade from last
November all the way until March had an
excellent trade there been in cash and
it went right back long today with a
stop at 145 so just a bar off the lows
there’s also DeMark nine there so the
kiss system went right back long on AMD
today maybe that bodess well for it some
other things here’s Nvidia nice bounce
today but again it it’s going to
struggle here at the 50 and 20-day
moving averages and of course you have a
downtrend
line you know did find support around
that 38% FIB but you got resistance up
here dber
83 This was a shorted I put out last
week
and if you shorted it or shorted it I
put out yesterday if you shorted it
yesterday hope you took profits in the
demand Zone you can see it went down to
there and bounced back again guys I
didn’t really add any new ideas here so
here’s a Adobe Steve had it on our watch
list last night as a wedge it still
looks okay here this would be the
measured move if it were to break
out TR 85 LPG one from Steve
on uh Monday still looks okay if it can
break through
there dber 86
futu this is one I put out yesterday
it’s a weekly chart really I really love
this coil on the weekly on a breakout
this could be a longer term swing
pre jber 87
SPG I put it on the watch list on the
weekend as a short needs to lose this
139 area if it does the next Target
would be around this 2 moving
average and charra 88 here’s Apple so
Apple’s been bouncing here a little bit
you have some positive Divergence here
it’s still on a nice downtrend Channel
earnings is May 2nd so we still have a
little ways for
that otherwise again like I said it’s
still in a strong downtrend here all
right guys that’ll do it like I said
Futures are up nicely es Futures are up
38 points right now es or inq features
are up
200 points so pretty big moves and
Futures and we’ll see if that holds in
the morning I wouldn’t be surprised if
it does have a wonderful rest of your
Thursday evening thank you for all your
support on YouTube please like subscribe
comment um I’d like to see more comments
on the YouTube channels that helps the
algorithm and again have a great evening
have a great week

This is our highly detailed newsletter where we do a technical analysis review of the market and our mechanical trading systems like our KISS Trend Systems for the week of April 25th – 26th, 2024

sign up to our free newsletter
https://breakpointtrades.com/newsletter_signup/
https://breakpointtrades.com/

Topics Discussed:
– Opening Discussion
– Mechanical Systems: Mean reversion and KISS Trend Systems
– Market Index Analysis
– KISS systems (high performance versions coming soon!!)
– Custom Indicators
– Commodities and Precious Metals
– Trade Ideas

Matthew Frailey is the founder and head of research at Breakpoint Trades.com, which has been focused on advanced technical analysis and trading systems since 2003.

Here’s a link to our KISS systems where you can check to see what the KISS system is doing for a ton of various stocks and ETF’s and where the smart trailing stop is placed

STS KISS Tables for Indexes, ETF’s, Stocks
https://breakpointtrades.com/sts_table/?search=BPT_basket