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Mike Paulenoff

WPM Follows and is Approaching My Intermediate-Term Technical Target

Sun Oct 20th 2024
On the afternoon of March 13, 2024, I posted the following heads-up to MPTrader members about important price action in WPM (Wheaton Precious Metals), my go-to ("favorite") name for Silver Mining within the larger Precious Metals Mining Complex:From a silver-gold perspective, let's notice that WPM strength is pushing up against its near-term resistance line in the vicinity of 45.80. If taken out and sustained, this will point WPM toward a challenge of its 4-1/2 year resistance line that cuts across the price axis at 51.00. Last is 45.60...

Applying Fibonacci Analysis to MSTR

Fri Oct 18th 2024
Carolyn Boroden, co-host of the Fibonacci Markets Stocks service at EWT, got a request for an update in MSTR yesterday. Carolyn explains, "It just happened to be on top of key support yesterday when I ran the chart. We had a confluence of 4 Fibonacci price relationships here between 182.51-186.23. It included two 100% projections, a .618 retracement along with a .382 retracement. The zone was already being tested with a low being made on Thursday directly into this zone at the 185.81 level. Since this zone held, we were looking for buy triggers against this zone.

Is The Rally Done?

Mon Oct 21st 2024
This is the question with which we have been grappling for the last week or two.   It basically questions whether the rally off the 5674SPX low has completed its 5-wave structure.  And, as I have been outlining over the last two weeks, the ES and SPX are presenting slightly different perspectives on the answer to this question.As I have shown you with the ES chart, there still is a reasonable structure that needs one more higher high before this 5-wave rally is done.

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