MrFleck

MrFleck

I am currently net short. Even though we might go as low as 374, I would personally exit my short positions at 390s. It is possible that $SPX might have formed a contracting leading diagonal. This pattern is very rare and if it happens it is usually at the wave 1 of impulse or wave A of correction. I am not sure if this is an impulse or correction. Irrespective...

MrFleck

Ascending wedge leading to resistance with bearish RSI divergence. Took short positions before close today.

MrFleck

Honestly, SPY can go either way. I am not gonna predict the future and will play level by level. I see a diamond bottom (second half of diamond is a symmetrical triangle). I have mentioned my plan in the chart.

MrFleck Updated 

370 is the key level. Break below and hold, we see new low (350). If not it is possible to see 420 - 430 by next month

MrFleck

Next targets are 407/417. There will be minimal pull backs imo.

MrFleck

This is mainly for my reference. Zoom in to see various trend lines. Use log chart for accurate trends. Short till SPY touches upper while trendline (upper border of long term parallel channel)

MrFleck Updated 

Spy bounced at 0.382 retracement level (from Covid lows to ATH). There is a gap to be filled near 428, which is also a supply. It could either be 428 -> 395 -> 440 or 395 ->428 -> 440. 50 DEMA is at around 426 and 200 DEMA is at around 444. If 440 - 444 rejects , we are gonna see 372 and 360. If SPY breaks through 440 - 444, then David H Contrarian is gonna be...

MrFleck Updated 

I have a lot of trend lines (color coded). SPY at significant resistance from various confluence. Targets for next week: 392, 388, 385, 380 I'll exit my short if SPY breaks above resistance (401/402) with conviction (momentum/volume/price action)

MrFleck

Log chart. Price used to stay in this channel for decades. We are heading into stagflation in the near future, which tends to be the most brutal bear market. It will be a slow and painful death, a process, that is gonna happen over years.

MrFleck

AAPL bounced right at 0.382 fib retracement (drawn from Covid lows to ATH). I am expecting a drop to 110 before fall. I will be adding shorts at the mentioned levels. I don't see it going above 167 in this bear market rally.

MrFleck

ES - on its way to neck line retest. 4090 and then 4170 are the highest this rally can take us. If one those levels reject, we will see another leg down possibly to 3720 in the coming weeks.

MrFleck Updated 

If SPY manages to get above 405, we can see gap fill above to the top of the channel (around 414 to 415). We may even see 428 if the momentum continues. I will average down on my short position at these levels. I do think we see 380 before next FOMC meeting and even lower.

MrFleck

Nice double top - Adam and Adam. Close below 65.87 will confirm downward trend. Will potentially enter short position today.

MrFleck Updated 

Another overinflated garbage stock. Needs to come back to earth this year. Target - 260. I am planning to build a short position in all bounces in the next week.

MrFleck Updated 

I am not sure what Friday and the weekend will bring us. I closed all my shorts today. I have a hunch that we will have a decent deadcat bounce next week. I will add puts in all those trendline levels. Right now, I am holding one call option to play this possible deadcat bounce i'm expecting. If we close below that lowest trendline, I will quickly close my call...

MrFleck

If MSFT breaks below the channel, first target will be 245 (near previous low); we might have a small bounce there and then flush down to 225 by June - July

MrFleck Updated 

We will see how futures do tomorrow. May will be more brutal than April My major support and resistance levels are pink lines My minor support and resistance levels are blue lines I can see us filling the famous 400 gap in SPY before the end of 1st week 3978 has to hold for any possibility of reversal in the short term Long-term we are nowhere near the bottom

MrFleck

Broke major trend line support today. 138 has to hold. If not, I think it might fill the gap at around $90 to $100.