Acw may nfp We see a bullish trend towards the April ath and possible 2450-2490-2500 and a cpi sell within 2 weeks. Longby Alpha_Capital_Wealth1
$SPY May 3, 2024AMEX:SPY May 3, 2024 15 Minutes. Last 2 days AMEX:SPY managed to sort out the moving averages issues due to sudden up and down movement on May 1, 2024. Now all moving averages have converged, 50 averages are around 502.5 levels. So, for the day if I consider the last rise from 501.34 to 505.88, holding 503 levels I will have a target of 506 - 506.5 to 510 levels. My SL will be 500. If I consider the rise from 493.86 to 510.75, we can see that 61.8% retracement has managed to hold twice around 499.5 levels. Thus, I expect a move 510 levels only. by RiderTrader223
SPY 4HR CHARTIS there any information about the roof topping pattern? Here is a chart of SPY, and this pattern has been forming for a while now. The house has a support level around 497-493 area were we seen one buyers come in. I have no idea how these patterns tend to resolve, but if we can continue to hold support at that level we can build higher. But who knows right, this just my thoughts on the market, and what is see. Could just be a big nothing burger pattern IDK.by SLICKNICK_251
SLX $74 peak to $56, then $66 by 2023-12SLX may peak around the $69 to $79 price zone by 2023-08, then decline to the $51 to $61 price zone for the 2023 bottom. The end of 2023 may see a return to the $61 to $71 price zone. Please share your charts in the comments section below. I would really like to see more SLX forecasts for 2023.by day0Updated 5
COPPER Commodity or Junior Miner trade LONGCopper prices rise when the economy is thought to be growing and needing more electrical infrastructure while they fall when bearish indicators might project a recession. I am at the aluminum and finished steel subsectors as well. FCX is under consideration but as a large cap it does not have the volatility of the junior miners. In the meanwhile COPJ, CPER and COPX look like they are worth considering given the trend up since mid-February. The chosen strength and trend indicators confirm the trend. This is a long trade and sector rotation play for those to consider that are tired of tech stocks and earnings plays.Longby AwesomeAvaniUpdated 1
Expired SPY Weekly outlook. 1st WK MAY 2024Expired SPY Weekly outlook. 1st WK MAY 2024 > NEUTRAL π CORRECT Closed Price: 508.26 Target Price: 509.87 | Strike Price: 510 APR29 24' Upper Range: 518.30 Lower Range: 501.43Longby putIQ1
XLE reached the supportBullish move soon. It reached the support line. The previous historical resistance line.Longby mahdyfo1
Contrarian PlayAlot of chatter about bonds breaking upward. But I'm thinking there may a short term bounce on the tlt - Looking at May 10 $89 - $89.5 - $90 Calls Lotto contrarian play - Ill see what they do in the morning Longby sonidofrankoUpdated 4
the volume still shows sellingvery odd volume on very red candles. this is not financial advise. by Oppollo1
Shotgun Trade Setup(s): VIX/UVXY Analysis for Potential ReversalIn this analysis, we're eyeing a potential 'shotgun trade' scenario with a focus on VIX and UVXY. If we observe a gap down in the market, especially in the VIX (VIX) and its inverse, UVXY (UVXY), it could signal a forthcoming move. Holding the gap down on UVXY might lead to a decline to $8.50, followed by a rally towards the confluence of a trend line and the short-term .618 retracement level, established based on the initial gap down. The expected pattern involves a fakeout rise, followed by a subsequent fall in alignment with the VIX and broader market movement. This creates an opportunity for a 'shotgun trade,' where traders capitalize on the reversal by going long on the market or short on the VIX. For those considering long positions in the market or short positions in the VIX, exercising patience and waiting for confirmation of the shotgun trade setup could be advantageous. Keep a close watch on the VIX's behavior and market sentiment for optimal timing." Remember to perform your own analysis and risk management before executing any trades. Happy trading! ππ« Shortby candlestickninja1
QQQ Scalping Zones 5/2Upside Targets: * 426.43427.14/429.60 Downside Targets: * 424.5/423.6/422.75 Daily Trend Tracker - *QQQ- *DXY+ *VIX+ *US10Y-by QuantumEdgeAnalytics0
βοΈ Weekly Report: Volatility makes Cash the King againGENERAL COMMENTS Today, the Federal Reserve maintained its interest rates unchanged, highlighting the ongoing challenges in curbing inflation. Initially, this announcement propelled the markets upwards, but a sharp downturn occurred in the final hour, leading to a decline as the day concluded. The erratic market behavior demonstrated today makes it increasingly challenging to maintain positions in momentum stocks, and the majority of this quarter's earnings reports have been underwhelming. This situation underscores the strategy that cash remains paramount, complemented by selective, quick trading opportunities, as depicted in the following charts. I will begin tonight's chart analysis with the Nasdaq-100 (QQQ). NASDAQ:QQQ The Qs are forming a bearish formation. What is worrying is that this is below the 50D Simple Moving average. As trading is a probabilities game, we can conclude that this leads to probabilities being lower that we continue to the downside. However, the direction of the general market indexes are very well influenced by the fundmental story of the economy health. ββββββββββββββββββββββββββββββββββββββββββββββββββββ NASDAQ:SMTC SMTC is up $4 from the $33 Buy Point (alerted in previous versions of this idea - go and check. Believe and Follow). This peaked yesterday with about +20% profit since the alert last week. Of course the way I manage this is never to let this to turn into a loss. My general go to tool is to take half here. ββββββββββββββββββββββββββββββββββββββββββββββββββββ NASDAQ:KLAC KLAC fell back to $687 after missing earnings. This of course stopped me out - but at no loss, since I move stopped up to break-even. ββββββββββββββββββββββββββββββββββββββββββββββββββββ NASDAQ:SMCI The stock missed its earnings and suffered a severe reaction of a gap down and drop -20% on the intraday. ββββββββββββββββββββββββββββββββββββββββββββββββββββ NASDAQ:NVDA NVDA slashed below the 50D SMA and this stopped me out. Waiting and watching this TML during its base building period. ββββββββββββββββββββββββββββββββββββββββββββββββββββ NYSE:GS Up $7 from the $419 buy point with stop raised to $416 just in case. ββββββββββββββββββββββββββββββββββββββββββββββββββββ NYSE:CRM CRM is prone to go lower if the market continues falling. A break below $266.50 is great place to short. ββββββββββββββββββββββββββββββββββββββββββββββββββββ NYSE:LLY Gapped up on good earnings. The next technical buy point is $801 accommodated with heavy volume. ββββββββββββββββββββββββββββββββββββββββββββββββββββ NASDAQ:MRNA Earnings are due out tomorrow. If earnings are good then zooming through the $116 on good volume is a great technical buy point by SimplerSignalsUpdated 3
PILL 3x Leverage Medical/ Pharma ETF for swing LONGAMEX:PILL On the 4H Chart, current market price is sitting on the support of order blocks and the EMA200, while in an uptend from a double bottom in the sprint. It is moving into the high volume area of the voluxme profile. For the swing trade, the stop loss is $0.10 below the EMA200 while the targets are marked based on a combination of the horizontal resistances of prior swing pivots along with sell order blocks and the structure of the volume profile. Accordingly, this trade risks $0.60 for about $ 4 to $ 5 of upside making for an excellent swing setup especially since healthcare, medical and pharmacueticals are known to be recession resilient and ETFs are inherently diversified making leveraging a risk probably worth taking. Longby AwesomeAvaniUpdated 1
XBI the ETF for Biotechnology LONGBiotechnology is expected to be a hot subsector this year as healthcare recovered further from the COVID pandemic anything from startups to big pharma- from vaccines to new drugs for diabetes, liver disease and obesity. This is shown on a weekly chart to show the long term trend with XBI pivoting to bullish back in early November. I add long positions when I see a dip on the 3-4hr chart. My targets are the fib retracement expectation at 116 confluent with the first upper VWAP band line and then the 135-138 zone underneath the second upper line shown in thin red on the chart. This ETF smooths out the volatility characteristic of some of the smaller biotechnology firms making it safer albeit with lesser rewards expectations. Positions in NVAX and MRNA are having a good start to the week and will reflect in a small way in this ETF which has broad constituent stocks within its portfolio. Longby AwesomeAvaniUpdated 114
$USO Oil targets hit. Sideways plus downside, maybe two weeks Breakout was a success and we saw $80s for a good moment there. Plenty of time to have taken any profit on any positions I had. The pullback in between also happened according to the bar chart. Letβs see if the rest of my pattern can make its way through into a plummet for late May.by TazmanianTraderUpdated 0
$QQQ Bear Flag to the 200DMANASDAQ:QQQ Bear Flag to the 200DMA Do in last nightβs video I went over this in much more detail, but before I take the bear flag off of my chart I want to publish it to see how it plays out. And the bear flag also looks like the handle to an inverted cup and handle. 200DMA is a very real target. Shortby SPYder_QQQueen_Trading558
MSOS gaining momentulWere in up channel, long consolidation, but I believe we are seeing potential to make some gains. There is clear rotation from cad LPs into MSO, I expect MSO to do well until earning season begins. May 08-09 Longby abigreenUpdated 443
Buy around $8.32 with 2 fistsMSOS loves bouncing off that trend line. I bet you it'll happen right when DEA reschedules. Because the market is a bit*ch like that. Smoke more weed. Flying to Chicago today, never been. Longby sonidofrankoUpdated 0
Rolling (IRA): TLT Feb 21st 100 Calls to the 95 Calls... for a 1.09 credit. Comments: Looked at all my options here for the rolling of the short call aspect of my covered calls -- rolling down, rolling down and out, rolling out as is, rolling to shorter duration and down ... . Going with rolling down in the same expiry for a 1.09 credit. Resulting cost basis: 89.11. It still remains a bet that the Fed will cut rates at some point, just with lower max profit potential.Longby NaughtyPinesUpdated 0
SPY - LONGFeds talk already priced in today, 500 holding strong, lets hit 515-520 by EOM yeah? alright sounds good.Longby Smart_Money_Cpyder556
VIX UVIX UVXY Will lead to a bullish day in the markets tomorrowVIX UVIX UVXY Will lead to a bullish day in the markets tomorrow. Powell was balanced and the VIX is low, but the VIX is a function of the SP500 it's swings can be big and go the other was just as fast. Here's UVIX. I won't go long UVIX Calls until the VIX is sub $12Shortby candlestickninja1
could the MJ sector etf still have a leg up left overaccording to history, yes. according to current price action, no. it would not be a good short, but its also not a good long without a break of character to the upside. looking at all volume weights and the price the downtrend remains very much intact. tommorow the top of the range may be hit, although resistance would be stiff, and a breakout to the upside would have little chance to regain tuesdays highs. this is still clearly an attractive long at many levels for a lot of reasons, and thats why ive sided with buy after this particulare daily extreme and rejection candle, sliding down toward an equally uneven bull market lower.Longby cerealmarket0
SPY - Still shortEven though the Stochastic says good time to buy, smart money knows the dumping has only started. AMEX:SPY is still below the 20DMA, in the lower Bollinger band. Shortby SPY_Trader1