On May 25, Mike Paulenoff alerted MPTrader members to a preliminary upside reversal signal in F (Ford). The stock at the time was trading at 12.40, up from its then multi-month corrective low at 12.07 established on May 20.
Mike instructed members that only a close below 11.00 would invalidate his preliminary bullish signal.
Then on June 10, with the major equity market indices in the grasp of a three-session plunge of 10% to 12% into what would become significant mid-June major corrective lows, Mike reiterated his bullish analysis about F, writing:
"F (Ford) remains on a Buy Signal generated by its price bottoming behavior since May 20th despite today's 3.9% drubbing in sympathy with the overall market. The 'bottoming behavior' will remain intact and viable unless and until F breaks to new corrective lows beneath 12.07 AND follows through below 11.00 (on a closing basis)."
During 8 of the 13 trading sessions between June 16 and July 6, F pressed to or marginally below 11.00 but never closed beneath Mike's close-only stop of 11.00, and by July 27 was trading at 13.15.
At that point, hours prior to Ford's earnings report, Mike posted another heads-up for MPTrader members, noting that the stock was "poised for upside continuation to challenge 14 -- the down-sloping 100 DMA."
As it turned out, investors and traders reacted positively to the earnings news, propelling F from its gap-up open on July 28 into last Friday's (August 12) high at 16.22, up a full 30% from Mike's initial alert.
F is an example of the risk management discipline Mike applies to the technical work that he communicates constantly to MPTrader members in every one of his intraday updates.
What's ahead for F as well as other auto names like GM and TSLA? Join Mike and MPTrader members for their intraday discussions and idea generation on individual names, ETFs, macro indices, commodities, and Bitcoin.
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.
Mike Paulenoff called this past weeks sell-off in AAPL ... and the market in general.
On Thursday Aug 18, with AAPL at 173.84, Mike told his MPTrader members: I am in the camp expecting the latter downside scenario, notwithstanding The Streets newfound love affair with the company.
The next day, he wrote: AAPL is pressing on key initial support at 171.60/90, which if violated will point to 168-166 next [and] put downward pressure on SPX, SPY, ES.
He updated his downside target to 164.80-162.