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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On October 2, 2023, I posted the following heads-up to MPTrader members about the technical setup in the derivative Bitcoin ETF BITO (Proshares Bitcoin Bull ETF):BITO (Proshares Bitcoin Bull ETF)-- For those of you who think like I do that "there IS something to this Bitcoin thing," the multi-month technical setup in BITO indeed, is intriguing because of its upside potential. My suggestion for those so inclined is to own BITO here (14.
Eight weeks ago, Mike Paulenoff discussed the budding technical setup and upside breakout in CRWD (CrowdStrike Holdings) with our MPTraders members, writing:"CRWD has followed the bullish scenario we discussed in late August, and in fact, today (10/06/23) has thrust above 5 months of resistance to new recovery high territory at 176.32. Although my next optimal upside target zone is 190-200, the BIG picture setup points to 230-240 thereafter... Last is 174.86...
On Monday morning, November 13, 2023, a full 5 trading sessions before the approaching November Options Expiration (OPEX) (11/17/23), I posted my chart-based commentary for our members:SPY-- Considering that Friday is November Option Expiration, where are the "magnetized strike prices" as we start OPEX week? Based on my attached Hourly Chart, the magnetized strike price zone spans from 436 to 441. Should SPY take out the upside barrier of 441, then the follow-through outlier magnetized target could be as high as 450 before or on Friday.
On October 23, 2023, ten days before the November 1st FOMC meeting and policy statement, I posted the following commentary about the downward-spiraling TLT (20+ year T-bond ETF):My attached 4-hour Chart of TLT shows that the relentless and near-vertical downtrend that commenced at the beginning of August from around 100 hit a new long-term low at 81.92 this AM, positioning it in my intermediate-term optimal downside target zone from 80 to 82.
On the afternoon of September 25, Mike Paulenoff posted a warning signal to MPTraders members about the developing acute oversold condition in RTX (formerly Raytheon Technologies), writing:"RTX (formerly Raytheon Technologies) hit a new multi-month corrective low of 71.02, down 33% from the 4/10/23 post-pandemic High at 106.02. Although RTX has violated my optimal target window of 73-75, the stair-step corrective pattern off of the 4/19/23 high at 104.