Keeping this one short and sweet to hype the hype up. So trust me bro, this ain’t financial advice.

Intro

Last time I posted the following pictures comparing the GME chart to a typical Wyckoff Accumulation Schematic. See below:

GME chart from the last post.

Wychoff Accumulation Schematic from last post.

Without any description to the pictures, someone pointed out in the comments that “it doesn’t quite look like the schematic”. For that you have to understand that Wyckoff is about certain rules and principles in the market. One of it is that no chart will look identical to another. Therefore the schematic is also just that: a schematic and of course there are different ones emphasizing different things as well. But you have to look at the things pointed out, the levels reached, the tests (and retests) and the volume in each phase.

For instance: Points 1 – 7 or even until the Creek and further to 10 don’t have to look exactly like on the schematic. E.g. the level of 1 will vary, the level of the secondary tests (4, 5, 7,…) will vary, the time frames will vary, the numbers of secondary tests will vary, etc. The focus points however are going to be how the volatility, volume and spreads behave during the trading range and especially the later parts of the trading range where the Creek, the last shakeout and then the signs of strength are going to show up.

I will point this out again later, but also be aware that some things, e.g. the spring or shakeout (8-10) are no must and their levels will also vary. If you think “well but TA doesn’t work on a manipulated stock like GME” then read the following about the spring or shakeout from “Anatomy of a Trading Range” by Jim Forte:

From “Anatomy of a Trading Range” by Jim Forte.

Manipulation, yeah.

The Update Version #1

Update Version #1.

This update is still in line with my previous post and having having completed that point 10 now, with a Jump across the Creek and Sign of Strength about to pop off. However, I posted the following comment in my last post:

Also to clarify: it’s entirely possible that we’re still in the creek and haven’t fully reached 8 yet. But that doesn’t change the fact that moon soon.

To clarify that clarification because it came up last time: 8-10 as mentioned earlier don’t have to breach or even reach the support levels. In fact they don’t even have to happen. However, I think the possibility we’re still in the Creek and that we haven’t fully reached that last shakeout (8-10) yet is quite high, and I’ll elaborate on that.

The Update Version #2

Update Version #2.

So this is the version I’ve only hinted at in the comments last time. Here we’re still in the Creek and haven’t fully reached the shakeout phase yet. Please note that Points 8-10 and everything later is just drawn deliberately. I can’t tell you which levels we’ll reach and when.

Trust me bro

Now why do I believe we might not have reached the shakeout (8-10) yet and that we’re still in the Creek? Well of course I’m a shill and want you to sell all your shares now and then miss out on the move up, duh. With that joke out of the way: no, don’t sell because of that and if you do then you’re clearly regarded.

Remember the 2008 VW squeeze? The “You are here” charts? THAT dip? Yes, that will be the one. But do you really think you’ll have enough time to buy the dip? Well, I doubt it. Will the brokers even allow you to buy any shares at that point? Have you read their updated disclaimers recently on the buy button being turned off during certain market events?

“Ok ok, astrology nerd I won’t swing trade, I promise, but you still haven’t told me why we might dip in the first place.”

Remember the 2008 VW squeeze? Oh yeah right. There was a market crash that – you know – looks kind of familiar to what’s going on today:

SPY and “Fibonutcheese” channels.

What you see at the top is a SPY 1M chart for the last 100 years or so on the log chart and overlayed with Fibonacci channels. The middle SPY 1W chart is zoomed into the 2008 crash preparation (oh and look there’s also an overlay of the VW squeeze) and at the bottom there is the current timeline with a GME overlay on top.

I don’t know about you but while the markets might take a short breather in the next few weeks, I kind of expect it to go down further. Like a lot. Capitulation phase type “a lot”. “Cohenincidentally” with GME reaching the end of the accumulation phase and starting the markup phase. During that crunch I fully expect GME to go down briefly along with the markets for various reasons, such as them wanting to shake out the paperhands or it taking some time until the first SHFs start imploding and being forced to close their shorts. But be aware that IF the shakeout happens (aka the “You are here” dip) points 8-10 don’t have to dip below the support either. And again they don’t necessarily have to happen in the first place.

Oh and since we’re already talking about imploding mayo jars and institutes – a tasty finisher: Remember Credit Suisse? The bank being implicated in the Archegos meltdown, the hedgie that has been tied to GME in various DD posts around here. Could anyone check on them and see if they’re ok?

Credit Suisse, ladies and gentlemen.