Based on SBUX dismal sales I would be all in but what should be hasn’t been so I’m going to do what doesn’t make sense and just sit and wait. IF it does hit T1 then T2 I will be encouraged that sanity is returning to the markets! :-)

Thank you for response. I may have to stop using Yahoo for my charts. It definitely looks different than yours. The way they stitch the futures contracts together seems to paint a different picture.

The wedge on SPY is certainly getting long in the tooth. The more reactions we get off that uptrend line, the more eyes see it & the more significant it becomes. Certainly worth monitoring. Thx for sharing the chart.

Thx for sharing. I recently highlighted SBUX as a potential short setup & noticed that it triggered a sell signal today on the impulsive breakdown below the rising wedge pattern on the daily chart. First & minimum target is 75.00ish with a potential 2nd target around 71.25.

Thx for sharing the chart/trade idea. Personally, I can’t make a compelling case to be long or short COTY but that doesn’t mean that there isn’t a trade to be made there. Just that it’s not my kind of chart/setup. Best of luck if you take/took it.

Yes, I follow Bitcoin on a regular basis. However, as with most indexes, sectors, commodities, etc.. that I regularly track, I will usually only post when I see any notable or actionable developments in the charts (i.e.- a potential or current trading opp). You can view all posts with analysis of Bitcoin, starting with the most recent, by clicking this link: https://rightsideofthechart.com/tag/bitcoin/

Basically, the technical posture of $Bitcoin hasn’t changed since my last update on May 15th (screenshot from the /BRR Bitcoin futures daily chart is below along with today’s updated chart). /BRR continues to grind around the 9800-9890ish resistance while sitting on the primary uptrend line, basically going nowhere for a while now.

Yes, negative divergences forming on OSTK, which is one of my go-to proxies for trading Bitcoin. However, until Bitcoin picks a direction, such as a breakdown below the uptrend line (bearish) or a solid breakout above the recent trading range (bullish), I can’t make a solid case to go long or short OSTK, RIOT, or any of the other stocks that tend to trade in line with Bitcoin. OSTK is certainly a bearish setup, with a solid sell signal on Bitcoin along with some type of objective short entry on OSTK, ideally with those bearish divergences still in place.

Here are my 60-minute charts of /NG (nat gas futures) and UNG (nat gas ETN). Similar although UNG doesn’t trade it perfectly & to your point, the longer you go back in time, the more UNG will lag. Personally, I prefer trading nat gas futures over the ETNs in my primary trading account although I’ll use the latter for quick in & out trades in some of my other accounts. /QG is the Miny Nat Gas futures contract which trades at the same price (hence, the same charts) as /NG but with a lower multiple (i.e.- less leverage than /NG).

Tech is pumping, while retail, industrials and financials are sinking. AMD, MSFT, AAPL up. NFLX had insane intraday reversal though. Truly mixed signals from metals, with silver going nuts today before the sudden reversal, still up 0.8% as I type.

Nah still holding.