Recent Top Calls by Mike Paulenoff
On November 8, just after TSLA (Tesla Inc) traded down a new multi-month corrective low at 185.75, Mike Paulenoff posted the following analysis to the MPTrader member discussion room:TSLA is getting closer to BOTH my next optimal downside target zone of 170-175 AND a condition of downside exhaustion within the downleg from the 8/16 high at 314.67.Bottom Line: As of this moment, TSLAs plunge today to a new big picture corrective low at 186.
On Wed Nov 9, the day before the next consequential CPI (inflation) report, Mike Paulenoff posted the following bullish analysis of the TLT (20+ Year T-bond ETF) for MPTrader members, writing:If my attached 4 Hour TLT (20+ Year T-bond ETF) Chart Setup is whispering anything to us about the next likely near-term directional price surge, then all of the action since mid-October has carved out an accumulation pattern in the form of a big W that has the potential to trigger a sharp
On September 30, 2022, Mike Paulenoff posted the following currency and precious metals commentary to our discussion room at MPTrader:The Dollar and the PM Miners-- I can make a compelling technical argument that this weeks major downside reversal in the US Dollar Index (DXY) from a multi-decade high at 114.78 to todays low at 111.
Last Monday (Oct 31), Mike Paulenoff posted the following analysis of F (Ford) for our MPTrader members:F (Ford) arguably has been in a bear-correction phase for all of 2022. However, one look at my attached 4-Hour Chart certainly makes me wonder if the May-October portion of 2022 represents a budding accumulation period and pattern ahead of a potentially powerful upside breakout heading into 2023.I dont have the answer yet, BUT my rally pattern setup off of BOTH the May 17 and the Oct.
Back on August 29, Mike Paulenoff alerted MPTrader members to his excitement about the potential for a powerful advance in Gilead Sciences (GILD), writing:
For two years, GILD has been traversing a wide (24%) range between 57-59 on the low side and 70-72 on the high side (see my attached Daily Chart). Every time GILD sinks into the vicinity of 60, it becomes relatively cheap within the range (57 stop) ahead of a traverse towards 70-72...
On October 6, Mike Paulenoff posted this alert about Devon Energy (DVN) to MPTrader members:
Based on the very powerful pattern carved out from the 2020 low at 6.93 to the June 2022 high at 79.40, all of the action during the past four months represents a bullish digestion period of the 19-month upmove that should resolve itself in a thrust into a new upleg that projects above 79.40 to 85.00+.
During the final hour of trading on Friday, TSLA broke its prior corrective low at 206.22 from Thursday, and then proceeded to press still-lower, breaking a much more consequential low at 205.81 from May 25 -- the low from which it had rallied 50% into the broader-market August recovery highs.
Heading into Fridays closing bell, Mike Paulenoff posted a chart alert to MPTrader members about TSLAs precarious technical position, noting:
TSLA reports earnings on 10/19 after the close...
Last Friday afternoon (Sep 30), Mike Paulenoff ended his Gold Miner alert to MPTrader members with the following parting comment:
Just maybe the precious metals complex is approaching a perfect storm-- a weakening US Dollar, stubborn inflation, vicious and increasingly dangerous geopolitics et al...
Indeed, the Gold Miners ETF GDX outperformed the benchmark SPY ETF for the first time in months. After pressing to a low at 23.
This past Monday September 19, Mike Paulenoff alerted MPTrader members to an emerging setup in Raytheon Technologies (RTX), noting:
One of the recurring themes I read about that threads through coverage of the Russian-Ukraine conflict is that the vast amount of materiel sent to Ukraine from NATO countries to help Zelensky and his army fight Russia is older equipment and weaponry that sooner than later will have to be replaced by the donating countries.
On the afternoon of September 12, the day before the consequential August CPI report was released, Mike Paulenoff alerted MPTrader members to a key inflection point in the QQQ, writing:
The QQQ is strong ... heading towards a confrontation with its key resistance zone from 312.80 to 316.15 where my work expects QQQ behavior to inform us about the true underlying dominant trend-- to the upside in an extension of the June-August advance, or to the downside in extension and completion of the Aug-Sep.
On August 8, Mike Paulenoff was asked for chart analysis on CHPT by an MPTrader member.
Before the opening bell, Mike responded with the following chart-based commentary:
CHPT (ChargePoint Holdings)is getting a lift from the so-calledInflation Reduction Actmostly because of the feel-good reaction to the $7,500 electric vehicle tax credit (if you can afford to buy an EV in the first place) as well as earmarked funds supposedly heading for building out charging station infrastructure.
On Friday morning August 26, Jay Powell delivered a very brief, but considerably more hawkish-than-expected Jackson Hole speech that for all intents and purposes ended and reversed the 19% recovery rally advance in the SP.
That afternoon, with AAPL down 3% to 164.65, Mike Paulenoff posted a heads-up alert about AAPL to MPTrader members that called for continued downside in the most widely-followed name in the averages, writing:
AAPL has pressed beneath its prior pullback low at 166.
Mike Paulenoff called this past weeks sell-off in AAPL ... and the market in general.
On Thursday Aug 18, with AAPL at 173.84, Mike told his MPTrader members: I am in the camp expecting the latter downside scenario, notwithstanding The Streets newfound love affair with the company.
The next day, he wrote: AAPL is pressing on key initial support at 171.60/90, which if violated will point to 168-166 next [and] put downward pressure on SPX, SPY, ES.
He updated his downside target to 164.80-162.
This past Friday, the dominant headlines were all about Warren Buffetts Berkshire Hathaway receiving permission from the Federal Energy Regulatory Commission to acquire as much as 50% of Occidental Petroleum shares (OXY). On Friday alone, OXY climbed 9.4% on the news and is within 4% of revisiting OXYs 4-year high at 74.04 hit on June 3, 2022.
On May 25, Mike Paulenoff alerted MPTrader members to a preliminary upside reversal signal in F (Ford). The stock at the time was trading at 12.40, up from its then multi-month corrective low at 12.07 established on May 20.
Mike instructed members that only a close below 11.00 would invalidate his preliminary bullish signal.
Back on July 5, Mike Paulenoff alerted MPTrader members to the bullish potential in MRNAs chart.
With the stock trading at 154.68, he showed the charts projection towards resistance at the March 22 high of 188.33, writing: Just maybe, the 6 month base-accumulation period and pattern carved out by MRNA during 2022 after a wicked corrective-bear phase is starting to make its presence felt technically.
Back on July 17, with ARKK trading at 44.22, Mike Paulenoff commented:
ARKK (Cathie Wood ARK Innovation Fund) ... my attached 4 Hour Chart shows the price structure has carved out a May-July Rounded Bottom formation that is putting upward pressure on a key resistance zone from 46.70 to 48.12, and if hurdled, will trigger upside projections to 58-60...
Since then ARKK in fact climbed to a new 7-week recovery high at 49.
Back on Thursday, July 7, 2022, this is what Mike Paulenoff discussed with MPTrader members about the ARK Innovation ETF (ARKK):
Its Time to take a look at the technical setup in ARKK, putting aside the miserable narrative that surrounds ARK fund manager Cathie Woods performance from the February 2021 ATH at 159.70 to the May 2022 low at 35.10 (-78%).
Back on the afternoon of June 30, just ahead of the long July 4th holiday weekend, Mike Paulenoff posted to the MPTrader.com Coverage List the following chart-based commentary about a forthcoming directional price move in the SPY (SPDR SP 500 ETF Trust), which was trading at 379.38 at the time:
From the perspective of my Hourly SPY setup, todays low at 372.56 followed by the powerful rally to an intraday high at 380.
Back on June 17th, this is what we discussed about the TLT (20+ Year T-bond ETF)when it was trading at 112.53:
The TLT put in a big upside reversal day yesterday (6/16/22) from 107.80 to 111.72, closing RIGHT AT the High of 111.72, leaving behind a Bullish Engulfing Candle on my Daily Chart (not shown here). The last time TLT traded at 107.