Recent Top Calls by Mike Paulenoff

On August 27, 2024, I reviewed my near and intermediate-term technical setup on copper (gold, silver, oil) producer FCX (Freeport-McMoRan) for MPTrader members, writing:My attached Daily Chart shows the 30% correction from the May 2024 high to the August 2024 low, which my pattern work argues ended the retracement of the first upleg of a new bull phase in FCX that began at the 10/23/23 low of 33.08 and ended at the 5/20/24 high of 55.24. The August 2024 upmove from 39.08 (8/05/24) to 46.

On August 5, hours before its after-market earnings report, Mike Paulenoff posted a bullish alert on AI-juggernaut PLTR, writing:"Bottom Line Technically: As long as any forthcoming weakness on a closing basis remains above key support lodged between 19.60 and 21.50, PLTR has the right look of nearing the completion of the correction from its 7/08/24 high at 29.83, and the initiation of another advance that will extend the upside potential off of a two-year base-accumulation setup."The stock, trading at 23.

Three hours before the July Fed 31, 2024 (FOMC) meeting, I posted the following chart commentary about my technical setup work on 10-year Treasury YIELD and its actionable longer-term Treasury bond ETF, the TLT (20+ Year T-bond, ETF):Heading toward Fed Time, 10-year YIELD and TLT (20+ Year T-bond ETF) certainly appear to be anticipating lower interest rate news or innuendos from the FOMC statement (guidance) and Jay Powell in his post-meeting press conference.

On August 15, with XLV (Healthcare SPDR, ETF) approaching Mike Paulenoff's target zone (noted in an April 18th post), Mike responded to an MPTrader member's question about whether it was "time to sell and find something with more potential?"  Mike wrote:  "My short answer: no, it is not yet time to sell (although I will never dissuade anyone from taking profits and from ringing the cash register). My pattern and momentum work argue that upside potential extends from 156 to 161.

On August 6th, when UBER was trading 62, this is what Mike Paulenoff discussed with MPTrader members about the stock's technical setup in the immediate aftermath of the company's quarterly earnings report:"UBER... produced stellar earnings, albeit a bit light on next quarter's bookings. The stock is up 5.9% in pre-market trading within a near-term setup that argues yesterday's spike low at 53.25 ended a 35% correction off of the March high at 82.14.

At 10:45 AM ET on Friday July 26, 2 hours 15 minutes after the release of important PCE (Personal Consumption Expenditure) inflation data, this is what Mike Paulenoff discussed with MPTrader members about SPY (SPDR SP500 ETF):"If I have a concern today it is the unfilled up-gap left behind from last eve's 4 PM ET close at 538.32 to the low of the AM session so far at 541.25.

On June 24, 2024, I posted the following chart-based commentary about PFE (Pfizer, Inc) to the MPTrader discussion room:PFE (Pfizer) has the right look of a setup that is on the verge of entering a central, bullish price thrust from within a December-June rounded bottom formation. Only a failure to push up through and close above the 200 DMA, now at 28.94, followed by a decline that breaks last week's low (6/14) at 26.87 will Neutralize my currently bullish bias... Last is 28.27...

This past Monday, July 15, right after the opening bell, Mike Paulenoff cautioned our members about the technical setup in TSLA (Tesla), writing:"TSLA is in the grasp of a corrective period off of last Thurs (7/11) high at 271.00 that hit an initial low at 231.52 last Friday (7/12). The big rebound off of 231.52 to 262.72 during this AM's pre-market trading has the right look of an "intervening bounce" between two distinct corrective declines (the first being 271 to 231.52).

This week's selection for our Top Call -- VZ (Verizon Communications) -- is less a function of its recent success and more a reflection of Mike's technical setup work that projects gains in the days and weeks ahead. On June 17, one of our MPTrader members (FJB) alerted us to his fundamental work on VZ.  After seeing his positive comments, Mike Paulenoff posted the following technical interpretation of the pattern setup:"... somewhere above 36.

On the morning of June 20, Mike Paulenoff posted a heads-up about AMD to MPTrader members, writing:"AMD has been upgraded this AM by Piper Sandler with a Target Price of 175. Piper reiterated its OverWeight rating and has made AMD its top big-cap pick for the remainder of 2024. Technically, AMD has its challenges and its work cut out for it to climb to Piper's 175 target.  My attached 4-hour chart setup argues that for starters, AMD needs to climb above 158.

On the afternoon of May 7, 2024, ahead of earnings the next morning, this is what I discussed with MPTrader members about a forthcoming opportunistic technical set in UBER (Uber Technologies):UBER reports earnings tomorrow morning before the opening bell.  My Big Picture setup suggests strongly that the bull phase that commenced in June 2022 at 19.90 still has unfinished business on the upside into the 90-100 target window.

This coming week is filled with consequential macro and micro "events," such as NVDA's 10 for 1 stock split, CPI, PPI, and TSLA's annual meeting, during which shareholders will vote to approve or reject Elon Musk's 2018, $56 billion pay package.Arguably, the most significant "event" for the technology sector, in particular, and for the major equity indices is Apple Inc.'s WWDC Conference, which begins tomorrow.

On Thursday May 23, with IWM trading at 203.19, Mike Paulenoff responded to an MPTrader member about his read on the IWM (Russell 2000 Small Cap ETF), writing:"Bottom Line: Compared to the SPY, IMW is terribly weak, but in isolation, from my BIG Picture pattern perspective, IWM is gearing up for a rip-roaring advance after current weakness exhausts itself.

During the pre-market hours of May 8th, 2024, this is what I posted about SLV (iShares Silver Trust) to our members at MPTrader.com:Time to focus on Silver (SLV) again for the initiation of a new upleg after the completion of a three-week pullback right to a successful test of 12-month support (see my attached charts), followed by an upside pivot reversal that has the right look of a resumption of the bull phase from October 2023.

This past Tuesday, April 30, Mike Paulenof posted a heads-up to MPTrader members about his technical setup on TLT (20+T-bond ETF) ahead of Wednesday's Treasury Refunding Announcement, the FOMC statement and Fed Chair Powell's press conference, and Friday's Jobs Report.Mike wrote:  "I cannot help but be concerned about this morning's weak economic data (Chicago PMI, Consumer Confidence, Dallas Fed Survey).

On the Monday morning (10/09/24) after Hamas attacked Israel (10/07/24), Mike Paulenoff posted the following heads up for MPTrader members:Another "Crisis Opportunity" could be developing in RTX (formerly Raytheon Technologies) after a prolonged correction finally exhibits signs of downside exhaustion, and because the various combatants around the globe need weapons systems and missiles, lots of missiles... Last is 72.62...RTX established a multi-month corrective low at 68.56 on the Friday before the attack, down 35% from the 104.91 high on 4/19/23.

On April 5, Mike Paulenoff discussed the following with MPTrader members about the significant negative behavior of the equity indices in general and the SPY (SP 500 Equity Index ETF), writing:"... Yesterday's nosedive in the price action left behind a Bearish Engulfing Candle in SPY, SPX, ES, et al... My attached Big Picture Chart of SPY shows the powerful, relentless Oct-Apr. advance from 409.21 to 526.

On March 13, amid a broad discussion about the emerging bull phase developing in the precious metals and miners, Mike Paulenoff posted this about WPM (Wheaton Precious Metals) to our MPTrader discussion room:From a more Silver-Gold perspective (if FCX is perceived to be Copper-centric), let's notice that WPM strength is pushing up against its near-term resistance line in the vicinity of 45.

Right after the opening bell on the morning of October 20, 2023, Mike Paulenoff posted the following GLD (SPDR Gold Trust) commentary to our MPTrader Discussion Room:"For all of the long-suffering Gold Bugs... As we speak, GLD is attempting to take out key 5-month resistance lodged between 181.20 and 184.40, which if successful and sustained, will point GLD to 188-190 next... Last is 183.88...

During the afternoon session of February 15, this is what Mike Paulenoff posted to the MPTrader Discussion Room about the technical setup in the oil service company SLB (Schlumberger):"This name in the oil service sector exhibits a well-demarcated 4-year bullish channel with the SLB price structure upturning off of the lower boundary line in the vicinity of 47.00 (the 2/13/24 low) amid a glaring double non-confirmation of the weakness into the lower channel line.