@Sockpuppet_Doug

Futures trader, former architect, utility industry asset manager and capital planner. Tweets are my opinion only. #goducks

 Portland Oregon
Joined May 2009
  • Tweets1.4K
  • Following354
  • Followers213
367Media
$MARA close to support and showing good price compression since the last crypto cycle. A lot of volume to work though just above so probably not an easy trade in this zone. If it clears $27.50 tho it could run hard.
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How I'm looking at $BTC: I'm inclined to read this as a broadening formation. A potential breakout from this pattern has a measured move equaling the hight of the pattern at breakout. In this case it measures very close to an even $100k. But it has to break the top chord.
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One clarification for all the bitcoiners who demand higher prices: The measured move is often a first target. It can keep going but usually, if the target is valid, there's some consolidation in that zone.
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How I'm looking at $silver: It broke UP from a rising wedge which is typically uber bullish but just failed first breakout attempt. Now in no-mans-land. Close above $32.5 = bullish. Close blow the wedge = bearish. Out and watching till something gives. $SLV $SI_F
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#corn looks like a buy. Nice RSI divergence, volume coming off and price setting up very orderly. $ZC_F
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With the massive outflows in the energy sector and money managers net short brent crude, this looks like a solid play. Technicals and positioning lining up. 👍
Jake Wujastyk
@Jake__Wujastyk21 Sep 2024
$OXY #OXY This name is signaling a potentially strong upside squeeze after getting hit hard since July. I shared the position I took w/ Subscribers today, join here to check it out w/ upside targets: bit.ly/3LyEVJT
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$VKTX forming a rising wedge on the daily. A break up has a measured move to the former highs.
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A few nice setups on the weeklies: $AMRK looks to be building up the right side of a breakout. Good volume stick to end the week. $VKTX also finally looks to be building it's right side.
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$AMRK almost there. ⏰
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Indexes are also looking good. Exhibit A: ES Futures forming a rectangle with an impulsive move to close Friday at the upper chord. Good EOD volume. A break up targets a new high. $SPX, $ES_F, $SPY
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Since the market God's woke up and chosen violence, I'm including the downside target for this rectangle. Keep in mind, classical chart pattern targets are only a guide - if it breaks to the downside, asses price action first. $SPX, $ES_F, $SPY
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A lot of bullish setups already on thin ice this morning.
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$NQ also showing an interesting pattern that you don't see every day: Interlocking H&S. Price action looks good as it builds an ascending triangle on smaller time frames. I don't believe the upside target on the H&S but nevertheless...bullish. 🐂 $NQ_F, $QQQ, $NDX
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Not to be outdone, the Dow keeps riding the upper boundary of its channel. IF it breaks above the channel line, it could be a ripper. One to watch as we get closer to the next Fed meeting. $YM_F, $DIA
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$Gold is now forming a smaller ascending triangle over the larger formation. Maybe there's another small dip but a breakout looks imminent. $GLD, $GC_F, $GDX
Wilson@Sockpuppet_Doug14 Aug 2024
Current thinking on $Gold is it's forming an ascending triangle. This is rare since it typically squeezes down before breaking out. Needless to say if it breaks out, you you have measured risk and if it drops below the bottom chord, look out. $GLD, $GC_F, $GDX, $GDXJ, $XAUUSD
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Feeder cattle looks like a short below $235.
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ruh roh: 10y - 2y starting to uninvert.
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I continue to be conflicted with $gold. On the bull ledger we have higher highs/higher lows and hedgies. On the bear side we have declining volume, reduced CTA participation, ATH positioning, falling volume and lack of momentum. I'm still flat but can flip fast.
Wilson@Sockpuppet_Doug26 Aug 2024
Hedge funds bullish on $gold while CTAs reduce exposure. Anyone have an opinion on this? 🤔 h/t @MenthorQpro for CTA positioning.
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Hedge funds bullish on $gold while CTAs reduce exposure. Anyone have an opinion on this? 🤔 h/t @MenthorQpro for CTA positioning.
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Here's a theory I've developed in recent days (a thread 🧵): 1) Though gold priced in U.S. dollars has broken out of its summer consolidation pattern (see chart below), it hasn't broken out in most other major currencies. Because of that, gold's breakout doesn't yet have the momentum/staying power that it will have once it finally breaks out in all major currencies. I believe that gold is close to a breakout in all major currencies and that will kick off a much more powerful phase of this bull market without the frustrating choppiness we've been seeing this summer. See the rest of this thread for charts of gold priced in other major currencies. $GLD $XAUUSD
Gold USD breakout

ALT Gold USD breakout

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