Madrid

Madrid Wizard

Z seems to have bottomed at 99, ER is very close, and several indicators are rotating to the upside, we have momentum rotating to the upside, Downtrend has stopped and accumulation is starting to show positive signs. If ER is good enough this will create a short squeeze with a target between 115 and 120.

Madrid Wizard

Right now TSLA is at the point where it is at the Lower Main Channel Support and the the Upper Minor Channel Resistance. There has been an increase in momentum and the accumulation started to pick up. The trend is not broken yet, it is just at the extreme levels. So This ER will be a crucial to continue the trend to the upside or start a downtrend. A good ER and...

Madrid Wizard

If it is not able to go above 194.7 (S2) and 192.47 (S3) cannot hold then get ready for another bungee jump. Key Support @187 on the 55 ma Key Resistance @195 at the 8ma Mich Channel Support @187

Madrid Wizard

Double Top forming @43 and change. If this level is not broken then it will do a reversal to 37, bouncing around 41 due to the gap that will serve as support. It is gaining momentum, but it is still a negative momentum, which is forming a negative divergence (Higher Price, Lower Momentum). I am not optimistic about breaking this historic Resistance. At least...

Madrid Wizard

The previous decline tested the 55 weekly MA, The support was strong and it created the short covering and a rally extension until the level we see right now under the 8MA, which now behaves as resistance. This created a range between 187 and 195. The price is touching the upper channel resistance line and if the 8ma is not broken to the upside it will decline...

Madrid Wizard

Needs to close above the R1@103.11 level to declare a continuation. The ER news help, but beware of the general market, it is in an up leg but it has not completely recovered and the momentum indicators are still pointing down.

Madrid Wizard

We are still inside the main channel, this is a normal correction which can take us to a bumpy ride since the market is extremely nervous. The Russell 2000 has already broken the mid channel and the lower channel support, so the perspective we have ahead is not very optimistic. We could still expect some retracements and retesting of the channel levels. Long...

Madrid Wizard

We have been in a bullish market, one of the most loved and hated bull markets in history, the reason is basically because the so called “Correction” doesn’t seem to appear anywhere and investors don’t want to get caught off guard when it happens. Nobody can predict the future, but at least we can foresee where are the key levels where a reversal or continuation...

Madrid Wizard

Google has found a strong resistance level at $600, and just like $AAPL, it has not found its way to continue its ascending trend. The channel is valid, we are still in a long term uptrend move, but that resistance level is giving $GOOGL a hard time. MACD shows a negative divergence, while the stock is making a multiple top pattern, MACD is showing a lower level...

Madrid Wizard

Things like The bending rumors, the iOS 8 issues, the "Back to the Future" comparison with Samsung, and the lack of innovation are not creating a good impression on consumers, so the outlook probably will not be good. $AAPL has been in an uptrend from $80 until $104. The channel is still valid. However it has had a hard time trying to break the All times high set...

Madrid Wizard

$SPY has already reached a pivot point, both at the weekly trend and the major trend. Last week a Lower High / Lower Low started a downtrend. The lower channel of the current trend is found at 177 which is likely to be reached by mid May. The so announced 10% correction will be reached when the price reaches 169 and the trend touches the lower channel. Is this...

Madrid Wizard

The uptrend from 495 has been well preserved, The gap was filled and the last gap to the upside is acting as support. Two bull flags detected and MACD is consistent with the Uptrend. If these conditions are maintained this will continue to go to the upside.

Madrid Wizard

The 1883.97 level seems to be the line in the sand. The $TICK started a downtrend since May 2013, which means there is no new corporate money entering into the market. The $DXY index has mostly a negative correlation with the $SPX, which means that when this index rises stock prices go down, not a good sign considering that this index is forming a wedge pattern...

Madrid Wizard

The 540 resistance level was broken to the upside, If held, this becomes support and next Resistance level will be at 580.

Madrid Wizard

$VIX has been consolidating with a support level of 12. The patterns indicate that it started an uptrend that may end up breaking out the triangle around the month of May. $SPX has reached its upper level channel, turning the position into a upper pivot point that could start a downtrend, either a correction or a bouncing around the 1850 level. The international...

Madrid Wizard

$ATW has been showing a consistent upper trend for a very long time. Currently it is at the lower channel support line, just bouncing from the previous low pivot point. MACD Histogram is about to cross the Zero Line, which will give a buy signal, Stoch RSI shows an increasing momentum and the price has just crossed the both the 8ma and 144ma heading to the...

Madrid Wizard

If the current leg maintains its strength the $SPY will be heading to 1900 points in the next few weeks, and probably will be touching the upper trend channel at 1925. . Currently StochRSI is above 30% heading from Oversold to Overbought level, meanwhile the MACD Histogram is about to cross the Zero Line to the positive side, which are bullish signs. What is...

Madrid Wizard

COF started doing the dreaded H&s pattern when it had a retracement @68. Both shoulders are located @73 and the head @78.50. on February 18th, it closed with an evening star at the 0.76 Fibonacci retracement level that if confirmed by lower lows and lower highs from the next bar is a bearish sign. The MACD Histogram is forming a Peak and the Stochastics are at...