2 different perspectives here.. 1st. We may have an ascending triangle playing out on Spy and QQQ Which explains why we had so much of a thrust of volume on friday. If it is indeed an ascending triangle at play then we are going to spy 500, and qqq 430 by feb 1st. The breakout move should be like this This is the second perspective Spy and Dow both...
Long term investment idea here.. J.D almost nearing IPO price at 19.90 or 10yr support Over the next 2 years, i think the technicals are there for a retracement to .618 fib or 53$
Price has formed a rising wedge here.. I think we she get one more push here to 480 before pulling back to 465.. Nasdaq or IXIC Price keeps bumping its head on this trendline resistance. This resistance hasnt stop stocks like MSFT, NVDA and a few other of the 7 for making new highs but if you look at the price action overall on tech you'll see its been...
Most likely price is headed back to 80$.. Hammer candle off support with a piercing candle and volume.. Most likely a double bottom Calls over 71.50 1st target 75.00 gap close 2nd tgt 80 ATH
Huge double bottom forming off off support here.. 1st target is 197 gap close 2nd target is 200 gap close Might go higher lets see what happens
Simple chart here. Broke out of a major pennat back in December.. technically this pennant should take GS back to ATH but first it needs to get over 390 hurdle. Over 390 and long it to 422 Reject at 390 and short it back to 350
Ascending broadening wedge pattern here. Bearish pattern. Looking for one last dead cat back to 20sma 245-248 then a correction back to 200
Drops from last week Spy - 2% Qqq- 4% Iwm- 5% DJI - 1% Dow outperformed the best because of financials ,energy and health.. Big bank and Health stock earnings kick off this week which i think will ignite the dows pullback... So intra day indicators look oversold but structure looks bearish along with elevated selling volume. What i mean by this is,...
Consolidating here inside a wedge after a massive run up.. Breakout of a wedge and i like calls over 68.50 or 20sma 1st target is 76.11 2nd target is 82.00
Rising wedge here that probably wont correct until NVDA tags 550 or trendline resistance .. not saying to blindly short at 550 but look and wait for a reversal candle near trendline resistance.. SMH chip sector close to a correction also Daily chart
Chop for the last month here. Either consolidation or distribution Bigger picture here is the ascending broadening wedge inside white trendline.. this is a bearish pattern... if msft breaks below and closes below 366 than the correction has started to 300 with a pit stop to 330 first.. Inside the major pictues is a smaller pennat that msft has been trading...
Looking for a 468 gap close this week on spy to finish this Rising wedge pattern... Similar pattern on DJI and QQQ IWM This flush will basically flush the entire holiday algo melt up last 2 weeks.. I'll update this with sectors later
2 scenarios here.. 1st scenario which im fond of is the H&S to 186 2 scenario is a possible falling wedge setup for ATH In my experience , you always have to watch that right shoulder on the H&S.. if it doesnt break the neck line to flush lower it will turn into a falling wedge .. We will find out next week..
Has bottomed out here at 99 support 20sma has been resistance entire sell off.. long over 102.. 105 first target
Same Rising wedge here on Spy and nasdaq. 1st short target is 453 or 21ema... I expect a bounce there followed by side ways trading to round off right shoulder for a H&S correction back to 420-430 This correction should be a 8% drop from 465 based on the size of this wedge QQQ Same wedge Short entry 400-401 Will update this more later
Channel trade here.. Weekly candle rejected off channel last week with volume.. Closed below daily 21ema Looking for a pullback to 81 gap close. 1st target 88$ 2nd target 81 gap close Entry - below 95 Stop loss - close above 21ema
Risk and reward... Oversold here severely at 26$ support. This is a long term investment idea .. I think Pfe will retrace back to mid 30's by next year.. Pfe is back to feb 2020 covid crash levels. 26$ support has held for over a decade.
Price at trend resistance and Fib .236 resistance 1st target is 130.. Below that and we see 122. I think we retest 138-140 one more time before the short begins Short negated if AMD closes over 140.. If AMD closes over 140 theres no resistance into ATH