Week 41, 2024: TradingView Indicator Announcement, Record Highs, Inflation Fears, Google Breakup; Top 5 Market Movers You Need to Know
Tesla Stock Drops, Major Earnings Ahead
To Smart Investors,
We’re back with fresh, unbiased data for this week in the US stock market.
The Telegram Signals channel has been running for a week. It’s too early to show results, but I can assure you they have been very good. I also fully realize everyone is a genius in the bull market 😇
The free weekly Podcast is here:
A New Bombshell is Coming to All Subscribers…
Unique Product in TradingView: Introducing My Custom Signals Indicator
I'm thrilled to announce my product that we are developing right in TradingView! Together with a team of three talented developers, I'm bringing you a custom Signals Indicator that's 99% identical to the one I used at the hedge fund where I made over 200% in a year.
This powerful tool is scheduled for release in approximately 3-4 weeks and will be available exclusively to my paying subscribers.
The Signals Indicator will be compatible with all timeframes and financial instruments where technical analysis is applicable. Whether you're trading stocks, forex, commodities like oil, or indices like $SPY, this indicator will empower you to make more informed trading decisions directly within the TradingView platform.
Sneak peeks coming soon 😊
Please note, you will be required to have a TradingView subscription to use this indicator, but you can get 60% off here.
Limited-Time Lifetime Pricing
To celebrate these monumental developments, I'm extending the current lifetime subscription price of $500 until the Signals Indicator is officially launched.
After the release, the lifetime price will increase to $2,000.
This is a unique opportunity to secure lifetime access to all our premium offerings—including the new Signals Indicator and our exclusive Telegram channel—at the current rate.
Other Important Announcements:
On Wednesday I will publish another Complex ETF portfolio 😎
I have published my The 3-ETF Secret Portfolio last week:
“The Tao of Stock Trading" is rebranding to Signals.Doctor. This new identity reflects my commitment to providing you with cutting-edge trading signals backed by sophisticated strategies and deep expertise. I will be switching to the custom domain this week, and slowly introducing branding changes in the newsletter, so that people are not too confused about what’s happening. Nothing is changing, it’s still Jack. Introduction of the custom domain will also pave the way to creation of financial tools hosted at that domain that are tied to my newsletter for my paid subscribers 😃
As always, I have also written a deep dive on last week’s market recap, my predictions for the next week, and an ELI5 (Explain Me like I’m 5).
You can also find my typical quant data and the stock insiders’ significant buys/sells with my interpretation.
Every day I am posting summaries of news that are relevant for investors. I try to post about 30 minutes before the markets open and cover the last 24 hours of news. On the weekends I post in the afternoon.
»»» Today’s Anti-Clickbait News Summaries «««
10-year performance of Fortress of Solitude portfolio
This graph was generated by our friends at TradingView. Did you know you can get 60% off the Premium plan forever even though it's not Black Friday?
S&P500 Heatmap over the last week
This graph was generated by our friends at TradingView. Did you know you can get 60% off the Premium plan forever even though it's not Black Friday?
Excel data:
SPY in the last weeks
This graph was generated by our friends at TradingView. Did you know you can get 60% off the Premium plan forever even though it's not Black Friday?
SPY Technical Analysis – 30-min Chart
Pattern Breakdown
The attached chart presents several key technical formations and indicators for SPY (S&P 500 ETF Trust). Here’s a breakdown:
Triangle Formation
We see a well-defined ascending triangle pattern, suggesting that bulls were gradually taking control despite volatility. The breakout above the upper boundary of this triangle hints at increased bullish momentum.Bullish Rectangle
Following the breakout from the triangle, SPY entered a bullish rectangle consolidation phase. This suggests a period of indecision, with buyers and sellers locking in gains and setting the stage for a potential continuation upward.Target Zones
Three target zones are clearly marked:+2.68% above current price: This aligns with short-term momentum targets, implying a potential for more immediate gains.
+3.23%: Represents a medium-term target, likely achievable if SPY maintains its current bullish bias and volume continues supporting the move.
+4.5%: This higher target hints at long-term optimism, contingent on macroeconomic factors aligning favorably.
Support Levels
A significant support zone exists at 1.90% below the current price, where SPY previously tested and bounced back. This level would likely act as a safety net, providing buying opportunities for traders in case of pullbacks.
Projections
Given the breakout from the triangle pattern and the subsequent consolidation in the rectangle, the momentum appears to favor a continued bullish run in the short to medium term. The next resistance level aligns with the +3.23% target, after which +4.5% could be achievable if external factors, such as earnings season and economic data, remain positive.
Please send feedback and ideas using comments, PMs, or email. I answer all emails and PMs personally. No personal assistant BS here.
And, as always — stay informed — and do your own due diligence,
Jack the Signals Doctor, MIT PhD
Market Recap: October 7 - October 11, 2024 and Predictions for Next Week:
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