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Tim Knight Spots an Island Reversal in Tech Right at the Highs

NowPress play to follow along0:00 / 25:49
Chapters12 segments · tap to seek
ticker lesson

Breakdown

0:00lesson

Failed bullish breakout in SPY

  • Failed bullish breakout in SPY
  • Cracked below price gap
  • Potential to close above gap
  • Minor damage
2:04lesson

Market performance comparison

  • Diamonds down 2/3%
  • New price gap
  • RTY down 5x more than ES
  • Semiconductors down 1.75%
4:17lesson

Island reversal pattern

  • Island reversal pattern
  • Yesterday's bar flanked by lower bars
  • Reversal indicator
  • Candlestick patterns not potent
6:35lesson

Trend line resistance in EM

  • EM down 1.25%
  • Trend line resistance
  • Failed to pierce trend line
  • Potential sea change
8:36EWY· ticker

EWY price gap resistance

  • EWY price gap resistance
  • Shorted KU triple bullish fund
  • Down 4.16%
  • Tightened stop to 21.05
10:45GC· ticker

Gold futures trend line break

  • Gold futures trend line broken
  • Potential push below 4,000
  • Humans love big round numbers
  • Precious metals continue to suck
12:54XME· ticker

XME price gap and weakness

  • XME down over 3%
  • Major price gap
  • Copper at record high
  • Palladium stinks
15:02MSTR· ticker

MSTR short position

  • MSTR short position
  • Tightened stop to 163.25
  • Clean short with stop at price cap
  • Revised stop due to weakness
17:13AMAT· ticker

AMAT short position

  • AMAT down over 2%
  • Short position
  • Better fish to fry
  • No bearish chart
19:28STX· ticker

STX pink topping pattern

  • STX down modestly
  • Pink topping pattern
  • Eye on price gap
  • Potential to seal gap
21:36Tesla· ticker

Tesla short position

  • Tesla short position
  • Stop anchored to highs
  • Fibonacci levels key
  • Conservative stop at dashed line
23:39lesson

Interest-sensitive stocks

  • Interest-sensitive stocks
  • XLU utilities relief rally
  • Deadcat bounce
  • Potential to accelerate lower

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