Recent Top Call by Mike Paulenoff

One week ago, on Monday morning November 15, Mike Paulenoff posted the following alert for MPTrader members about HD (Home Depot):   "My attached Big Picture Daily Chart shows that all of the action off of the 10/27/21 ATH at 375.15 into last Fri's close at 372.63 exhibits the right look of a high-level bullish Pennant or Flag formation atop the upleg that started at the 10/10 low at 324.16.

Two months ago, on the afternoon of September 13, Mike Paulenoff brought to the attention of MPTrader members the intriguing and potentially opportunistic technical setup exhibited by the XOP -- the SPDR Oil and Gas Production and Exploration ETF.

Early on October 15, when CVS Health Corporation (CVS) was trading at 85.92, Mike Paulenoff highlighted upside opportunity for MPTrader members, writing:   "For the past 5 months, CVS has gone pretty much nowhere after hitting a new 6 year high at 90.61 on 5/25/21. It is precisely because CVS has traversed a sideways price path since late May that makes my work interpret the CVS technical setup as extremely promising for a run above 90.61 towards 100, and possibly 108-110 in the upcoming weeks and months.

On the morning of October 14, Mike Paulenoff posted the following time-sensitive comment about CHWY (Chewy Inc) to MPTader members:   "CHWY has the right look of a very mature correction from its ATH at 120 (2/16/21) to Monday's (10/12/21) low at 60.45, which represents a 50% haircut from the ATH. As of this moment, with CHWY trading at 62.72, my work does NOT yet have confirmation that THE LOW has been established.

In his September 30th chart analysis for MPTrader members, Mike Paulenoff wrote bullishly about AMD, noting:   "AMD has piqued my interest technically because all of the price action off of its ATH at 122.38 (8/04) into the September lows at 99.51 (9/20) and 99.81 (9/29) has the right look of a complete, or nearly-completed correction of the prior major advance off of the 5/13 low at 72.50.  As long as the 99.

MRNA's August downside reversal from a new all-time high (ATH) at 498.60 (8/10/21) to 349.00 (8/16/21) was just the first shot over the bow of a larger-developing corrective pattern and period.   Thus warned Mike Paulenoff to our members on the afternoon of August 16th, when, with MRNA trading at 363.

This past Monday, with Nike (NKE) poised to report earnings later in the week, Mike Paulenoff told MPTrader members that "NKE is vulnerable to a press into the 140-143 target zone either ahead of, or in reaction to, the earnings news."   NKE was trading at 161.75 at the time, and by the week's end the stock was 149.59, having hit a low of 148.

Back on August 18th, nearly two weeks ahead of ZM's (Zoom Video Communications) earnings report, Mike Paulenoff cautioned MPTrader members about the stock.   Mike wrote:  "The price structure, which has pressed relentlessly lower (15%) since its 8/05 rally high at 404.35, is probing -- and trading below -- its 100 DMA, now at 345.67, and is considerably beneath its 200 DMA, now down-sloping at 367.20.

In our Top Call article a month ago, we told you about how Mike Paulenoff called AAPL's upside continuation, with the expectation that the stock could extend a little higher before upside exhaustion. AAPL, indeed, went on to stair-step higher to reach a high of 157.26 high last week, overshooting the upper boundary of Mike's 153-156 projected high-zone by just 0.8%. It then proceeded to initiate the expected bout of weakness that accelerated to the downside this past Friday.

On August 11, Mike Paulenoff alerted MPTrader members to a significant upside reversal signal in AMZN.   Mike wrote that "the 500 point decline is nearing downside exhaustion," noting a preferred downside target zone of 3180-3200.   Fast-forward to August 20, when AMZN pressed to a new multi-month corrective low at 3175.76.

On August 3, Mike Paulenoff alerted MPTrader members to the developing setup in AAPL that also would eventually impact the broader market:        Mike wrote: "AAPL continues to levitate within a high level digestion period and pattern off of its ATH at 150 hit on 7/15. All of the action since mid-July certainly resembles a Triangle pattern atop the May-July upleg from 121.68 to 150.

Probably the first price pattern both fundamental and technical investors learn to recognize is a Head and Shoulders Top. Rightly or wrongly, it is the Holy Grail of technical formations, striking fear into holders of the stock, index, ETF, or commodity that exhibits such a technical set up, while eliciting an opposite reaction from put owners and short sellers who anticipate huge gains captured by impending weakness.

Last Wednesday (July 14), with AAPL trading at 148.65 but off of its new all-time high at 150, Mike Paulenoff alerted MPTrader members to potentially consequential yellow caution flags emerging in his technical setup work.   Mike wrote:   This morning, JPM raised its Target Price to 175, one day after Citigroup raised its Target Price to 170. Do I hear 180... 185? Crickets at the moment. The Street is falling all over itself in its bullish view of AAPL.

Back on June 24, Mike Paulenoff alerted MPTrader members to a developing bullish technical set-up in solar panel producer Jinko Solar Inc. (JKS):   Mike wrote:  "Time to keep an eye on the solar names (JKS, CSIQ, SPWR, FSLR, DQ) because all of them have the right look of either nearing the conclusion of deep multi-month corrections, or starting new uplegs after already completing deep corrections. My sense is that these names ran up big time into the Nov.

During the early afternoon last Thursday (6/24), several hours prior to the release of Nike's (NKE)'s quarterly earnings, Mike Paulenoff posted his chart analysis designed to answer the following question: Does the technical set up in NKE heading into earnings hint at a likely directional price reaction to the news? Mike wrote: "From the look of my attached Big Picture WEEKLY Chart, the stock looks like it could be about to emerge from a 6-7 month high level bullish

On May 27, Mike Paulenoff posted the following bullish commentary about iron ore producer Cleveland-Cliffs (CLF):       "CLF is up 6.7% today precipitated by the company's announcement that it intends to pay off a slug of debt of holders of Senior Notes due in March 2025!  There is nothing Wall Street loves more than profits, but a close second is reduction in debt. Technically, CLF's U-Turn off of Monday's low at 17.

On the morning of May 27th, just hours after Nvidia Corp. (NVDA) reported earnings, Mike Paulenoff gave this bullish assessment to MPTrader members: "In the absence of damaging weakness beneath last eve's algo, knee-jerk spike low at 611.02, and subsequent follow-through beneath 600, my technical work remains 'friendly,' and points higher, to test the ATH at 648.57, in route to 675-680 thereafter." The stock, which was trading at 628.

Back on July 16, 2020, Mike Paulenoff alerted MPTrader members to a potential turn in the long-term downtrend in the grains markets, reflected in his trend analysis of DBA (Invesco DB Agriculture Fund), an ETF consisting of agricultural commodities (grains, softs, and livestock).   In that changes in inflationary expectations are at the forefront of investor's considerations for the first time in decades, Mike's focus on a potential sharp climb in grains prices certainly was well-timed and well-received.

After Home Depot (HD) announced earnings on Tuesday that beat the Street on most of the important metrics, goosing the stock to the 327.25 area, Mike Paulenoff cautioned MPTrader members.   He briefly discussed HD's near-term technical set up, which looked promising as long as HD held support above 315.21, but then added:   "From a Bigger Picture perspective, my work presents some less promising prospects for HD's potential upside price path.

This past Friday, 30 minutes before the release of Retail Sales data for April, Mike Paulenoff posted his analysis of XRT, the SPDR S&P Retail Sector ETF. After explaining in detail his analysis, which you can read here, Mike concluded:  "All of the action from the Jan. 28th high at 99.24 through Tuesday's (May 12th) higher pullback low, represents a larger, bullish digestion period and pattern atop the dominant 15 month uptrend.