MOASS: Match Lighting
Ok lets recap our main targets and ideas for MOASS:
Target Price: 1800-2400 w/ major potential for pockets of trades to execute at much higher
levels
Duration: Oct 2024 - July 2025 w/ a major move to new all time highs taking place between Oct and Feb
Key Date: Oct 21st 2024 should see volume and short volume begin to increase
VWAPs are the key and price will be supported by VWAP all the way to MOASS conclusion
What now?
The main data point that we are watching like a hawk is SHORT VOLUME
Increasing short volume is the MAIN indicator that will signal both the START and END of MOASS
When you see short volume RAPIDLY INCREASING during MOASS it means that they have lost control of price and are desperately trying to short it down
You will see that DECREASING short volume will always signal a current or imminent decrease in buying pressure..although because of the nature of a squeeze that may not always translate into a decline in price
So now we wait....
M O A S S
Target Price: 1800-2400 w/ major potential for pockets of trades to execute at much higher
levels
Duration: Oct 2024 - July 2025 w/ a major move to new all time highs taking place between Oct and Feb
Key Date: Oct 21st 2024 should see volume and short volume begin to increase
VWAPs are the key and price will be supported by VWAP all the way to MOASS conclusion
What now?
The main data point that we are watching like a hawk is SHORT VOLUME
Increasing short volume is the MAIN indicator that will signal both the START and END of MOASS
When you see short volume RAPIDLY INCREASING during MOASS it means that they have lost control of price and are desperately trying to short it down
You will see that DECREASING short volume will always signal a current or imminent decrease in buying pressure..although because of the nature of a squeeze that may not always translate into a decline in price
So now we wait....
M O A S S
Nota
Morning!
Casino will open soon
Ok today is the day we have been calling for
No we are not saying moon today
But we are saying from this point on we should begin to look for an imminent, distinct and steady rise in volume, short volume and volatility
Short volume levels are the key!
M O A S S
Nota
Ok should see a bottom forming around here
Time to get moving
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Ok slight tweaks based on the marginal push lower
Nota
This price action gives us a good example to show how we use elliott wave
As we always say if price moves thru a target area we just look to the next fibs as support/resistance
In this case if the called out support breaks we would look for price to target and bottom at the 1.618 below and then bounce
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Here we go...
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And thats a wrap!
GME pulled back further and seems to be affected by XRT selling
No sweat though as nothing has changed with our call overall
GME is simply further filling out the Leading Diagonal pattern that we have tracking and talking about
We should see that bottom form, probably tomorrow it looks like and from there we should target the 1.236 fib extension which is typical of diagonals
M O A S S
Nota
Couple of ways to identify that you may dealing with a diagonal price structure
Moves develop into 3 wave overlapping structures
Wave 4 will overlap Wave 1
So based on those facts then we are expecting price structure to shape up like so over the next week or so
Nota
Morning!
Casino will be open shortly
As long as we dont break support the diagonal pattern will be the structure we are watching for
If it does break it will invalidate the pattern and the count will be tweaked but the structure overall is still very much bullish
M O A S S
Nota
Ok lets see if the bottom is in
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XRT close to bottoming..and btw it is also filling out what we think is a leading diagonal..not a coincidence.
This next move up in XRT will be part of the fuel that drives GME higher
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XRT is trying to find a bottom and conversely GME is too
Nota
And thats a wrap!
Looks like GME has put in a bottom right at support
Pretty sure at this point the leading diagonal we have been pointing to will play out from here....right in line with our call that this week would see price start to move more
As long as support holds we are on our way
M O A S S
Nota
Morning!
Casino will be open soon
Nothing much to immediately add
Its looking like the bottom may be in and if so we predict GME may never see these current levels again
Lets see if support holds
Chart above works for now
M O A S S
Nota
GET READY!Nota
Nota
Price pushed a little deeper but changes nothing
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Algos rode the back of the broader market weakness and pushed things down a bit
We broke yesterdays low so need to adjust accordingly
But nothings changed folks...
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XRT/SPX taking their sweet time bottoming which has been dragging us down
Adjusting things accordingly but as we have been saying for weeks now the next major targets are 25 then 28
Nota
And thats a wrap!
Super interesting day from a technical analysis perspective (if you cant tell we LOVE this stuff)!
At this point none of this price action changed where we are heading..it changed HOW we get there a bit
The 25 level is up next folks!
M O A S S
Nota
Morning!
Casino will be open soon
Not much to add at this point other than we definitely think we are headed to 25..sooner than later
Lets see if XRT/SPX start to show some bullishness today...if so we should see some movement in GME
Chart above works for now
M O A S S
Nota
Oh forgot we did want to show you one additional thing this morning
The volume profile corresponds to the price in the big box
Based on the volume is GME bullish or bearish?
I think we see the answer
Nota
And thats a wrap!
Quiet day but good day today
Price is working its way out of the bottom support and par for the course yet ANOTHER diagonal is developing..got love GME man lol
Should continue our trek higher tomorrow
M O A S S
Nota
Morning!
Casino will be open shortly
Nothing much to add other than we expect GME to continue higher
As always watching for breaks of highs/lows and increases in volume
Chart above works for now
M O A S S
Nota
Ok as we said we expected some good movement to start this week
Lets see if it continues
Nota
Lets be a little more specific with the targets
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Elliott Wave for the win
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Ok one small push lower left it looks like
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Ok that should be it as far as this push lower
Was thinking that since we extended a little higher than idealized on that move up that we wouldnt pull back as deep...but it did lol..gotta love GME man
But hey we told you things would start to get spicy after Oct 21 lol
Nota
And thats a wrap!
One word: GAMETIME
This is a text book leading diagonal
This is exactly the type of price action we were hoping for this week
Mark these words down: 20.35 level (this weeks low) will not be broken again for years if ever
We know thats a heck of statement but its going to take some SERIOUS work by the shorts to breach that level again
ITS TIME PEOPLE
M O A S S
Nota
BTW- when you look at the chart above notice the distinct shift in price action this week starting on the 21st
Notice how price started to reach higher? Exactly
We will cover a lot more in our weekend update
Nota
Diagonals naturally come with deep retracements
Expect us to run to complete Wave 5 early in the week and then price is going to get pushed down in a deep corrective move..
After that retracement completes we should move quickly through the 22 level and then on to 25
M O A S S
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