QQQ Scalping Zones 4/24Upside Targets: *429.57 - 430.82 - 431.16 Downside Targets: Jan gap fill reject? *427.20 - 426.35 - 425.61 Daily Trend Tracker *DXY - Bullish - *VIX - Bullish - *US10Y - Bullishby QuantumEdgeAnalytics0
Early unconfirmed long position.In $SPYThe confluence at the lower lever and the 1 hour chart reacting at that level has me buy a very small low risk call option trade.Longby alleytraderUpdated 2
THIS IS A DUMB IDEASmall swing trade (I am currently not trading futures, have in the past. Only due to my time zone - Market opens quite late for me like 1:30am). *I am not in this trade but I think this is a likely outcome in this moment but it depends* Purely fundamentalLongby AbyssNOLossUpdated 1
(FBY): Technical Analysis.As we approach the market open on April 23, 2024, FBY exhibits key technical signals that warrant a detailed speculative analysis. Ichimoku Cloud The recent price action of FBY has dipped below the Ichimoku cloud, signaling bearish momentum. The conversion line (blue) at $21.58 is currently below the baseline (red) at $22.14, which traditionally suggests the potential continuation of a downtrend. However, the lagging span intersecting the price bars from 26 periods ago offers a neutral signal, thus presenting a complex scenario. Fibonacci Retracement A critical observation is the breach of the 0.618 Fibonacci retracement level at $21.04, indicating significant support-turned-resistance. The stock found momentary footing at the 1.618 extension near $19.48 but has since rebounded. RSI and MACD The Relative Strength Index (RSI) is hovering around 43.69, suggesting that FBY is neither oversold nor overbought. This neutral RSI reading does not provide a strong directional bias. Concurrently, the Moving Average Convergence Divergence (MACD) exhibits a bearish crossover with both the MACD line and the signal line trending downward, confirming the selling pressure. On Balance Volume (OBV) The OBV indicates a downward trend, suggesting that selling volume is overpowering buying volume, aligning with the current bearish sentiment. Volume The current volume is below the 30-day average, which may indicate a lack of conviction in the recent price movements, leaving room for volatility. Price Prediction and Speculation Considering the confluence of technical indicators, a speculative price target on the downside could be set near the 1.618 Fibonacci extension level at $19.48, should the bearish momentum continue. An upward correction would face resistance near the $22.60 level, which aligns with the Ichimoku cloud base. Entry and Exit Points Potential Entry Point: Traders may look for buying opportunities at the $19.48 level if the price action suggests a strong reversal pattern with corresponding volume. Potential Exit Point (Short-Term Bullish Scenario): A conservative sell target can be placed around the $21.86 level, which would test the cloud from below. Potential Exit Point (Bearish Continuation): Should the downtrend continue, a tight stop-loss is recommended above the most recent high at $22.96 to mitigate risk. In summary, FBY's technicals indicate a bearish trend with potential for short-term bullish pullbacks. Traders should employ caution, with vigilant stop-losses due to the uncertain nature of the market's direction. The analysis by AxiomEx Trade Solutions suggests vigilant market watching in the coming days for confirmation of these speculative insights. Always consider market news and fundamental analysis before executing trades.by AxiomEx0
$SPY April 24, 2024AMEX:SPY April 24, 2024 15 Minutes. SPY has managed to hold 493 levels. 50-day average in daily. in 15 minutes forming HH HL pattern. Moving averages are getting sorted out. For the day holding 501-502 levels, for the rise 498.91 to 506.09 uptrend in intact. So, on downside 500 is a crucial level to hold. On upside resistance is around 509-510 levels as it is 61.8 retracement for the fall 519.47 to 493 levels. As of now long only above 514-515 levels with target towards ATH. by RiderTrader2
Continued upward momentumUpward momentum continues to look stable. when looking at the charts for the next few days. The daily chart still shows stable momentum in PPM1 even as PPM2 and PPM3 are still struggling along. This may mean that the upward momentum will carry on for some time but is prone to suddenly dropping off. Note that PPM1 is only at 0.1928, not exactly a very strong trend. Looking over to the weekly, momentum still points upward for now with PPM1 and PPM2 in uptrend. PPM1 still looks to have more upside and PPM2 looks to be stabilising at this area. So at least for the next 2 weeks or so, generally expect some more upside. Price is already close to hitting the first high fib target of 3.308. If it hits the target this week, we could see a push to the second fib target of 3.384 before momentum runs out of steam. Currently, momentum is projected to run out of steam on the week of 6 May. From there price may top out and look to come back down.by tanreu0
$SPY trend retest into monthly resistance? AMEX:SPY 4 hr looking strong. NASDAQ:MSFT , NASDAQ:GOOG , NASDAQ:GOOGL , NASDAQ:META all report this week (W-T) Trend line converges with monthly resistance. We'll see. Longby Delli221
Massive H&S for Sugar? Right shoulder forming?Is this a massive Head and Shoulders pattern for Sugar? The head and left shoulder are complete but will the right shoulder form and head to the mid 7s? Time will tell and we'll know by early 2025. This all started in June 2014. by andmk2Updated 0
MZNETF - PSXCup and handle pattern is completed and MZNETF is moving toward its target. Longby Zeb_05550
Gold bull flag reviewI posted this chart in march on a bull flag that was starting to form with a projection to the dashed green. This is a great example of a longer term setup that rewards the patient. Of then these flags or wedges like to break out on strong volume and then dump for a retest, only to continue to project towards the target. If you had entered 6month to one year out calls on this setup youd be up 400-700%. I did not play this setup this time around but have played GLD bull flags in the past and like to use them as a way to get standard investment exposure to the asset with higher upside, this is also more capitally efficient. -For example a June 21st 2024 call was 300-450$ in that timeframe in March, these are now worth 1320$ -This was my same strategy for OXY longer-term calls Longby Apollo_CB1
SOXL Next Best Trade (Bullish Potential)Weekly FVG Close at 41. Daily Close at 38. Waiting for reversal pattern.by RandiMichelle113
SOXL LONG ENTRY setup soxl is goooooood pull back now. it;s time to buy like no tomorrow!! but still posssible down to $25 my bull entry with no stop loss... ^^Longby ys03korea2
XLREReal Estate Sector SPDR Fund! DOWN, DOWN, DOWN As soon as it break horizontal line we see Target by Arrow!by sunmikee1
Gold Gold Gold, Trending up Strong!Gold has been up undisputably. Investor are kept pumping in Cash! US $ will get weaker but Gold will be Up and Up. more Value than Paper money. Strong trend that shows bullish in All MAs after years of consolidation. Where it ends , I don't know but keep riding the waves are smarter choice. Keep going QAU ! 1) Target $21 Longby Alf200020Updated 1
GBTC Is Looking For A Bullish Resumption After Bitcoin HalvingWe talked about bullish GrayScale Bitcoin Investment Trust (GBTC) already back on February 28th with a weekly free chart, where we mentioned and highlighted an ongoing five-wave impulsive bullish cycle. Well, as we actually expected, after GBTC reached all-time highs, we can see a projected slow down that looks like a wave (4) correction. A correction actually occurred a month before the Bitcoin halving and finished right before the Bitcoin halving. And, as you can see now in a closer, 4-hour chart after the halving, GBTC is bouncing from projected support after a completed A-B-C correction in wave (4), so wave (5) is now in progress, which can easily lift Bitcoin price back to highs as well.Longby ew-forecast5
$TLT, the last bond rally before bear market continuation?NASDAQ:TLT seems to be setting up for one last move higher. I think we're likely to see a bottom of the short term move between around here at $92. Then I think post fed meeting, we'll get a move in TLT up to the $98 resistance, that's where you'd want to be a seller of TLT or buy puts. After that, I think largely the remainder of this year will be bearish bonds after the $98 resistance gets tagged. I also think we'll see new lows (I know this is very opposite of what most people think will play out). This is also likely the catalyst that brings down the stock market (rates rise more than people think is possible). Let's see how it plays out.by benjihyamUpdated 7710
SPY min upside 5150 and up to 5330 june 6thThe chart posted is that of the spy in which I posted back in March I have NOT changed the labeling as it was correct .We are at the end of wave A down and should see a rather sharp ABC rally back up to a min of 5150 and then a pullback followed by the last wave up I do think it can reach as high as 5330 this is the alt to my 5261. We are now one of the most over sold in a few years . Best of trades WAVETIMER by wavetimerUpdated 116
XLP - consumer staples signaling possible upward reversalAMEX:XLP regained its YTD and MTD anchored volume weighted average price, as well as the VWAP anchored to the 3/21/24 FOMC meeting. Momentum is turning sharply upward and most major moving averages are in a productive relationship to one another and price. Additionally, XLP/SPX is showing a potential reversal toward relative strength. It's crossed above the MA for the weekly Bollinger band, has the longest streak of growing volume, and has broken out of a declining rate of change. Longby Ben_1148x21
Create an income producing Covered Call.If you like to trade volatility, then BITX is for you. BITX is a leveraged Bitcoin-linked ETF that aims to provide daily investment results that correspond to twice the daily performance of the S&P CME Bitcoin Futures Daily Roll Index With an IV30 of 136.90, (SPY is 14.78 as a comparison), you will find selling the option premiums advantageous. Consider this Covered Call idea using the price of BITX on April 22, 2024. Buy 100 shares of BITX @ $44.82, and at the same time, Sell to Open 1 Call, strike $45, price $2.19, expiring April 26, 2024. Your net cost of the trade is $4,263,00. If BITX is $45.00 or higher at the market close on April 26, your shares will be sold at $45.00 leaving you a profit of $237.00. This is a 5-day return of 5.29%, annualized at 275% (for comparison purposes). If BITX is below $45 you keep the shares and the $219,00 premium. The cost basis will be $42.63 per share. You can sell the shares anywhere above $42.63 for a profit, or you can sell another Call for additional income and possible net cost reduction. Educationby srhightower4534111
502.20 Put back to 292$Put at the top. Looking for a drawback down to 492$ support for continued Downtrend.by KommonStock111
Who wants to ride the SPY slide?Don't be fooled kids! SPY is just getting ready to DUMP!Shortby SPY_Trader220
QQQ Mid day scalping zones 4/22Make Trading Simple Again! Here are my 15 min qqq scalping zones. Upside Targets: Jan gap fill hold? *417.31 - 418.51 - 419.44 Downside Targets: Jan gap fill reject? *413.14 - 411.68 - 409.94 Daily Trend Tracker *DXY - Bullish - *VIX - Bearish - *US10Y - Bearish by QuantumEdgeAnalytics0
Junior Miners will fall 10-20% before catapulting in Mid MayMiners didn't accelerate to the upside like metals because they do better in lower interest rate environments, whereas metals do better for volatility events. You could buy ITM puts here on JNUG, NUGT, GDX or GDXJ and see a good return, or just wait for this to bottom in a couple of weeks and ride the lightning. THIS opportunity is one of the 2 that I see this year where you can buy OTM calls and this will be like Gamestop imo. THIS ISN'T FINANCIAL ADVICE!Longby EmptyEternity3