On Monday March 21 Mike Paulenoff posted a bullish alert on MPC (Marathon Petroleum Corp) to MPTrader members, writing:
"MPC popped out of my research over the weekend largely because its technical setup argues that all of the action off of its February high at 81.39 (see my attached Daily Chart) has carved out a high-level bullish digestion period and pattern above 72.50, and if preserved, projects to a thrust into a new upleg above 81.39 towards my next optimal target zone of 88 to 92 thereafter. Today's up-gap open and climb above the prior rally peak (79.93 in 3/11) has the right look of the initiation of a new upleg. As long as any forthcoming weakness is contained above my first warnings level at 75.50, my work will remain 'very friendly' to higher prices in MPC."
MPC was trading at 79.38 at the time, and within 36 hours of Mike's post the stock was off to the races. It thrust into the anticipated new upleg that propelled prices relentlessly higher for a 10-session stretch that hit a high of 87.10 last Friday, April 1, 2022, a full 9.7% above the price when Mike issued his alert.
In Mike's MPC analysis posted this past Friday morning, he commented: "While the price of oil is under pressure, oil exploration names remain bid this AM... We see MPC indeed thrust out of a bullish Coil formation back on 3/21 and has not looked back since, climbing to a new high at 86.68 as we speak this AM, en route to my next optimal target zone of 88-92. Only a reversal and close beneath 82.60 will argue that the current upleg has peaked... Last is 86.64."
MPC is another example of Mike's actionable tactical technical signals he posts to our discussion room multiple times during trading hours every day, in addition to religiously discussing and answering member inquiries about individual stocks, macro indices, equity futures indices, ETFs, commodities, and cryptocurrencies.
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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.