Chapters
00:00 Intro: Maxwellhouse Joins the Bagscast
01:01 Maxwellhouse: Setting Up Parallel Channels
04:05 Maxwellhouse: Extensions and Adapting
05:36 Maxwellhouse: Solid vs Dashed Lines
06:06 Long-Term vs Near-Term Channels
08:08 Maxwellhouse: Amazon's Channel Since 2015
09:39 Maxwellhouse: Marvell's Channel Breakout
12:09 Disney's Long-Term Baseline
13:41 Half-Point Extensions
16:48 Maxwellhouse: Index Futures, Not Shorts
19:22 Maxwellhouse: A Broken Weekly Uptrend
20:52 Maxwellhouse: The MACD and the VWAP
23:59 Maxwellhouse: Weekly Expected Moves
26:30 The DIX and Nothing Burgers
29:35 Maxwellhouse: The Week Ahead
34:40 Ben: GP's Case on Rising Rates
36:10 Ben: The Market Won't Go to Zero
37:12 Maxwellhouse: Selling Premium on the SPY
38:15 Magnite and Bag Holding
43:20 When to Sell
46:53 Maxwellhouse: Balance Areas and Triple Bottoms
48:54 Maxwellhouse: XBI and Teladoc Volume Nodes
50:57 Maxwellhouse: Sectors and the XLF
53:32 The SPY's 420 Area
54:03 Defined Risk and Reward
57:39 Ben: Bitcoin Pops Through 43,000
59:45 Maxwellhouse: The Dollar and the Market
1:00:47 Ben: When the Market Led Bitcoin
1:02:51 Bitcoin's Green Zone
1:05:52 Wrap-Up
Market Hours #6 was recorded on Sunday, February 6, and released Tuesday, February 8, as a Bagscast one-on-one with Ben and guest Maxwellhouse from Charts for Charity. Maxwellhouse walked through how he builds parallel channels from one clean line and uses weekly expected moves. Ben said he will never be open to the market going to zero and watched Bitcoin push through 43,000 toward its weekly 21 EMA. The two also covered Amazon and Marvell channels, the MACD and VWAP, the DIX, selling premium, when to sell, volume nodes in the XBI and Teladoc, the XLF and the dollar.
Maxwellhouse's setups, levels and trades
Maxwellhouse said "i'm going to just connect a line that i think is the most clean the most relevant and all you need is one line," then add extensions in half-point steps, and "it's not a science." "The dashed lines aren't as important as the solid lines." Amazon's long-term channel is "what it's been on since basically 2015," and "marvel actually hit the long term channel breakout earlier this year." "Every reaction on this white line is a buy until it's not." "I've never actually shorted stock if i'm going to short it's index futures," and "we have broken a weekly uptrend," though "everything's a uptrend on a monthly in my opinion." With the MACD, "the best case right now is for them to flatten out." "Every week there's an expected movement for a given stock," and outside it "you start to get these two sigma three sigma moves and that's where you can really start to melt down or gamma squeeze higher." He was also selling premium on the SPY. He watches the XBI and Teladoc "coming into these really large volume" areas, where it's "a defined risk reward." On the dollar, "long term they're positively correlated they both go up together."
Ben's setups, levels and trades
Ben said "i don't know anyone outside of myself that uses channels parallel channels as much as" Maxwellhouse. He recommended the TA Report, where "gp put together a very compelling case i think where the 10-year rising in rates really led to an explosion" higher. "I'm never going to be open to the scenario of the market going to zero." On Bitcoin, "the 21 weekly is up at 46 700 right now so yeah you know it's looking constructive," and "here was the spot that the market actually led bitcoin it found the bottom first."
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