BlueLineTradingLLC

BlueLineTradingLLC

Seasonality in the greater markets would align nicely with the WMT forecast in suggesting that further pullback is in the cards, with the longer term outlook remaining bullish.

BlueLineTradingLLC

Forecasts suggest that a higher degree top may be near.

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Getting very close to its pullback target and aligns with seasonality guidelines nicely.

BlueLineTradingLLC

The bearish short term shift from the high indicates this pullback is more meaningful and likely to be a larger degree wave two pullback with targets in the 101 zone.

BlueLineTradingLLC

Based on the forecast, indicators, and option flow, AAPL is likely to have more downside ahead before a bottom is found to push to new highs. On a larger degree, the chart is still bullish and opportunity is likely near.

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As the S&P rises, bullish signals become less clear. That said, a short-term top is likely near and fits the forecasting narrative.

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T has pulled back to the area of the 100% extension of wave 1 and 2, which aligns with the abc target from the current high. If a bottom is found, there is great upside to be had in this dividend monster.

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Looking for a possible move up here toward the 18 - 19 zone.

BlueLineTradingLLC

117 zone an area to watch as it also falls inline with the indexes.

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While it is possible AAPL is in wave three already, it is more likely based on volume that there is more short term pain, at which opportunity will likely present itself.

BlueLineTradingLLC

Looking for a short term high, followed by a retest of 5000 zone. From there bulls own the charts into 2025.

BlueLineTradingLLC

COST has one of the cleaner structures in the market and is a great long term ticker, as well as a shorter term speculative ticker. Ultimately, looking for a wave 4 of 3 pullback toward the .764 extension around 586, which is also heavily supported by the volume profile. Short term bearish / longer term bullish.

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While it is completely possible that wave 4 of 5 is done, the greater market supports a wave 4 of 5 target around 350. That said, 400 is likely still in MSFT’s future and a wave 4 of 5 pullback toward 350 would be a bullish gift.

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The bearish case here can not be ignored, especially if buyers fail to see value in higher prices in the 45 zone. Next zone to watch would be the .786 retracement around the 42 zone and below that we should anticipate the extension targets in the mid to low 30s.

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While the S&P may need one more low to fully test support in the 4090 zone, it should still be followed by another leg up as long as the zone holds. With that said we are looking up at 4300 on the S&P as our next upside target. On SPY, this will relate to the 427 zone.