Recent Top Calls by Mike Paulenoff

On Wednesday, September 7, during one of Mike Paulenoff's frequent intraday updates of the E-Mini SP 500 futures contract (symbol ES) to keep MPTrader members informed about dominant near and intermediate-term trend direction in the index and the SPY ETF, Mike posted an important warning:"ES from a BIG Picture perspective shows the weakness off of last Friday's (9/01) rally high at 4547.75 into this AM's low at 4434.75 (-2.5% of the 4.

Back on June 26th, when nearby WTI Oil futures were circling $67/bbl, Mike Paulenoff issued a heads-up to MPTrader members about a potentially opportunistic technical setup developing in OXY (Occidental Petroleum), writing:"OXY pressed to a low at 55.58 this AM, which marginally violated the 5/11 low at 56.16, BUT held above the more technically significant March 2023 low at 55.51 prior to pivoting to the upside into positive territory, now trading at 57.47.

On Monday August 28, we posted a heads-up about FCX (Freeport-McMoRan) to our MPTrader members, writing: FCX (Copper, Gold, Oil) producer has the right technical look (and a positive momentum divergence at Friday's low) of a completed pullback (44.70 to 37.74) within its larger bullish multi-month Coil formation. Last Friday's (8/25/23) low at 37.74 represented a very healthy 15.6% correction off of the 7/31/23 rally peak at 44.70 and also amounted to an exact Fibonacci 62% retracement of the 5/24/23 to 7/31/23 advance from 33.06 to 44.70.

Top Call: NVDADuring  the afternoon trading session of August 23, 2023, prior to the release of NVDA's (Nvidia Corp.) highly anticipated quarterly earnings report, we alerted our MPTrader members to our near-term forecast for NVDA, derived from my technical setup work heading into earnings.

A week ago Friday, August 10, with SPY (SPDR SP 500 ETF) trading at 446.05, Mike Paulenoff posted a chart commentary to MPTrader members indicating that his technical setup work on SPY was at a critical pattern inflection point.Mike wrote:"Based on today's action, I have come to the conclusion that the "orthodox low" of the decline from the 7/27 high (459.55)... ended at Tuesday's (8/08) low (445.27), and that an intervening counter-trend rally ended at today's (8/10) high (451.

This past Tuesday morning, August 8, Mike Paulenoff responded to a concerned statement from one of our MPTrader members about the TLT (20+ Year T-bond ETF) possibly having turned up in a significant way, especially if weak China data and an "off-sides" crowded hedge fund short position in bonds gets scared (and runs to cover its shorts).

On July 20, 2023, one day after AAPL climbed to a new all-time high at 198.

In the aftermath of Boeing (BA)'s powerful bull run from its October 2022 low at 120.51 to a February 2023 high at 221.33, Mike Paulenoff continually reiterated to MPTrader members that from his intermediate-term technical perspective, BA exhibited an incomplete big-picture bullish pattern that likely had considerably more upside ahead.

This coming Wednesday afternoon the Federal Reserve Open Market Committee (FOMC) meets to decide if another rate hike (#11 since March 2022) is warranted in the Fed's battle to tame ("official") inflation from last year's peak of 9% to the Fed's benchmark of 2%. The Street expects the Fed to hike 25 basis points, elevating Fed funds to a target range of 5.25%-5.50% after instituting and maintaining a Zero Interest Rate Policy pretty much continuously from the depths of the Great Financial Crisis in 2008.

On June 23rd, Mike Paulenoff posted a "heads-up" commentary about AMD for MPTrader members:"AMD Bottom Line: While my near-term pattern work cannot rule out one more new pullback low in the vicinity of 102-105 to complete the correction off of the 133.74 high on 6/13, the 20% decline is very near completion ahead of another upleg that should propel AMD to my next optimal target zone derived from the upside breakout from the huge multi-month base-accumulation period that projects next to 148-152...

Last Thursday after the close, GM announced it is following Ford's lead in its intention to manufacture EVs that will utilize TSLA's charging technology and network. The news triggered an after-market up-spike of 6% in TSLA shares from 235 to 249, which positioned TSLA 13% above its June 6th price of 220 and a whopping 63% above its April 26th corrective pivot low!  The news-related surge to 249 also represented a 50% gain from Mike Paulenoff's May 15th heads-up to MPTrader members.

On May 22, we introduced a budding bullish technical setup in RIG (TransOcean Ltd) to MPTrader members, noting:"RIG (TransOcean) is up 7% today, a thrust that immensely improves the technical position of the stock. RIG exhibits an extremely powerful near and intermediate-term setup that points to a next upside target zone of 6.80 to 7.10, but when overlaid on my attached Daily Chart, projects to 8.50... last is 6.36.

Well before the Artificial Intelligence (AI) hysteria was unleashed this past Thursday by the shockingly powerful earnings report from Nvidia (NVDA) that reset expectations for the growth and revenue potential of AI, our technical pattern analysis of MRVL provided an early heads-up for MPTrader members.

Just after the start of the New Year, on January 9, Mike Paulenoff posted the following missive to MPTrader members about EWJ (Japanese Country Fund ETF):In my reading and research this weekend, my eyebrows did a bit of a backward roll when I saw the budding technical setup in EWJ.

On April 21, AAPL climbed to a new 8-month recovery high of 168.16, representing a 35% gain from the January 2023 low.  We alerted MPTrader members to the new high in AAPL, but attached a yellow caution flag to the update:"AAPL continues to intrigue me technically because the stock hit a new multi-month recovery high at 168.16 on Wednesday -- 35% above its Jan 3rd low, but stalled right at its 15-month resistance line that cuts across the price axis in the vicinity of 168.

On March 20, I posted the following technical alert to MPTrader members:"FCX (Freeport-McMoRan)-- Technically, let's notice that FCX appears to be in the U-Turn phase after the completion of a 7-week 25% corrective period that successfully tested the 200 DMA last week. If the commodity complex has fully corrected its post-pandemic-inflationary spiral bull phase (think Crude Oil, down 46% from its 2022 highs), then FCX with its concentration of Copper, Gold, Silver, and Oil is poised for a resurgence of strength...

At the close of Q1, 2023, the big-cap technology names recorded the following very impressive 3-month gains: NVDA +90%, META+76%, TSLA+68%, CRM +50%, AAPL+27%, MSFT+21%, and GOOG+18%.

On January 24, we alerted MPTrader members to an opportunistic technical setup in NVDA, writing:"NVDA Bottom Line:  When I zoom out for a view of all of the price action for the past 8 months, I can make a compelling case that a very powerful base-accumulation period and pattern have developed that is putting intense upward pressure on the 198-200 multi-month resistance-upside breakout zone that if hurdled, will trigger an intermediate-term projection to at least 218-224, and an outlier upside target

XLF (SPDR Financials ETF)-- During Friday's session we discussed the precarious technical setup exhibited by the Weekly XLF Chart, specifically the prospect of a weekly closing violation of the dominant up trendline from the March 2020 Pandemic Low. My attached Weekly Chart shows that XLF closed the week at 30.98, down 2%, well beneath the trendline. in addition, given the sharp negatively-sloped Weekly Momentum gauges (bottom of the chart), XLF is poised for downside continuation to test the October 2022 pivot low at 29.

Before the opening bell on Friday morning (3/10/23), amid the unfolding chaos surrounding the Silicon Valley Bank debacle and in the aftermath of the release of the February Jobs Report, Mike Paulenoff posted the following chart-based commentary for MPTrader members:"In the aftermath of the Jobs Report, the Dollar (DXY) is weaker, and Gold (GLD) is stronger.