David_Scott

David_Scott

Market has found support. No more bad news can come out. Market is oversold. R/R long side is good from here. Indicators building higher lows and higher highs. Short squeeze is coming.

David_Scott

We've pulled back quite a lot...tons of bad news has come out...we entered oversold territory and we're now consolidating for a move up. Across the market are long entries with great R/R profiles. Indices are finding support on 200 MAs, volume nodes, cloud tops, etc and now the market no longer cares about the bad news. When bad news is good news...shorts better...

David_Scott

AMZN hitting resistance, market overbought since Christmas counter trend rally. Next pull back is going to be the big one I suspect as we roll into the first week of Q4 earnings. AMZN target is around 900. Should bounce from there around their ER day. Respecting this downtrend channel quite nicely. Will start opening small long positions in the 900-1000 range in...

David_Scott

Entering NASDAQ:AMZN on the weekly pivot at 1450 is a gift that keeps on giving. We're seeing market oversold levels worse than the 2008-2009 crash. The market is the most oversold it's been in 10 years and Amazon is sitting on a weekly pivot...you do the math. Will ride at least back up to the top of it's multi month range at 1800.

David_Scott Updated 

NASDAQ:FB Fadcebook has broken out of it's daily and weekly downtrend channel at long last. It's building sizable bullish momentum for a rebound at least up to 165. However I suspect that because it is so oversold and the markets at large are currently so oversold (even on weekly levels) globally that we're going to see a sizable rally / short squeeze within the...

David_Scott Updated 

Nasdaq is down 13.5% off of its ATH while I'm making this call. :) Blood is in the streets. NYSE:CRM Has built a massive Inverse H&S pattern that is completing it's trend reversal process and about to explode to a new all time high. We're seeing accumulation and accelerated buying right now while the market overall is extremely fearful and bearish (overly so)....

David_Scott Updated 

Nasdaq is down 13.5% off of its ATH while I'm making this call. :) Blood is in the streets. NYSE:CRM Has built a massive Inverse H&S pattern that is completing it's trend reversal process and about to explode to a new all time high. We're seeing accumulation and accelerated buying right now while the market overall is extremely fearful and bearish (overly so)....

David_Scott Updated 

Netflix has formed multiple topping patterns target $100 NFLX – like so many other equities has formed a topping pattern. In this case a rounded top with a failure swing with bearish divergences that began in March 2018 and are starting to play out. Bear Divs exist on monthly charts of almost all of the major indexes a this point. Nasdaq, S&P 500, Russell 2,000,...

David_Scott Updated 

Macro factors: QE and 0% FED rates created a lot of excess liquidity in the market and money that would have otherwise been in savings accounts or bonds into higher risk equities chasing yields. Welcome to the beginning of the end of the 0% rate bubble. The FED's QT is starting to have an effect on the risk assets. The market is currently overweight in risk assets...

David_Scott

NVDA is extremely oversold. More so than any other time in the history of the company. We just cut 50% off it's value in 30 days. We're registering RSI of 16 on the daily and 22 on the weekly. We're forming a weekly higher low and all signs point to sellers being exhausted. For context I am bearish on the macro trend of the market over the next 1-2 years but in...

David_Scott Updated 

Macro factors: The FED's QT is starting to have an effect on the risk assets. The short answer is why be overweight in high risk assets when extremely low risk assets are becoming more appealing by the day. Money will continue to flow out of equities and into Treasuries for the foreseeable future. If it leads to a serious correction or crash the FED will of...

David_Scott Updated 

Amazon has formed a topping patterns target 1: $1,100 target 2: $600 before Jan 2020. AMZN like so many other equities has broken down below it's 2016 Trump corporate tax cuts trend line and formed a topping pattern. The party is over. Bear Divs exist on monthly charts of almost all of the major indexes a this point. Nasdaq, S&P 500, Russell 2,000, the Dow,...