About to hit that upper channelI am glad that Natgas is on the rise. But gonna do a small short position, see if I can capture NATGAS chillin' the f*ck out. Good luck $19.50 5/24 puts $0.33 Tiny position Shortby sonidofranko0
$SMH: Is 235 Ready?The semiconductor sector is seeing incredible strength today and it looks poised to continue. Tech and Nasdaq may still be preferred even if we see TVC:DXY rise off the lows. Best of luck traders!Longby Fox_Technicals0
$XLC: 82.5 Might Be A GoThe communications sector is seeing incredible strength with NFLX making strong moves on the day. We see this and the broader tech, Nasdaq areas of the market moving higher as well. Good luck tradersLongby Fox_Technicals0
TQQQ DojiTqqq Doji point alreay there. it will fall down very soon and very quickly without any notice. by johng2001Updated 221
$2.63 Mil on Silver?!Silver 5/22/2024 Exp Silver has been on a surge so far this month, rising 20.54% from the beginning of May. This previous friday an option order totalling $2.63 Mil came in for AMEX:SLV targeting the $28 strike expiring on 5/22. The problem with this order is it is way too enormous for the ticker causing the market makers (dealers) major issues if price continues any higher. The plan for this trade is to hedge (go against) the original trade, taking the ITM $29 Puts for 5/22. The price expectations for AMEX:SLV coming into the 5/22 expiration are $30.13 to the upside and $27.47 to the downside. Liquidity zones will lay at both the expected moves. The $29/28 strike has a huge Call wall forcing the dealers to sell at that price. Shortby OakFDomUpdated 0
$XBI Looking to Breakout (Again)?AMEX:XBI Firstly, I may have an unhealthy attraction to this ETF. I have been in and out of this ETF a number of times over the last few months and overall, just a few $ profit. Having said that this has been basing Since January 2022. The longer the base the bigger the break, or so the Wall Street Axiom goes. It did breakout in February 2024 and quickly failed (I have a link below of my last idea). And there is another idiom: from failed moves come fast moves, and it did move quickly down. Now it is back to the original breakout “area” so this may have been a simple shakeout. Here is what I like about it now: It looks to have gotten support near the 40 Week MA. It looks to be regaining the 10 Week MA (Yellow) and is solidly above the 5 Week MA. This weekly chart looks much better than the daily chart. This is my plan, “if” the market is doing well this coming week and this moves above last week’s close of $91.18 I plan on opening a new position with a maximum stop below last week’s low of 87.68 which is about a 4% position risk. My thesis is that it can easily go back to retest the 103 – 104 area which would be about a 10% gain. My idea, your money. If you decide you like this idea, make sure that it fits with your trading plan on your timeframe. The chart I am using is the All-In-One LevelUp tool available here on TV. Check it out. Comments always welcome. Thanks for looking. Longby jaxdogUpdated 0
Professional analysis and strategy, hope to help you!On the chart it's gone up 7 points in 7 weeks or 49 days. After rising for 14 days. A possible delay to June is something to consider.by Sherry-MkUpdated 2
Top hunting the illusive dropStill looking for the spot I am will to short. I see we still could be a week away. Each day i will post what I see and if a trade develops than we find it together. I have no idea of these threads having any value to anyone, so comments or feed back woud be great.Shortby alleytraderUpdated 0
$COPXNot financial advice. AMEX:COPX Setting up for a possible cup and handle will have to wait for confirmation if it gets rejected at yellow line resistance. Like and subscribe for more ideas.by alex6666660
SPY Short 3-8% Correction I Don't Think So Goo Long Bull RunThe correction??? In my opinion and chart theory suggest its time to go long and find the proper to stocks to be in Subscribe for update stock pick and the best sectors to be in so your not left behind!! as for todays daily chart set up I suggest calls at least a week out as chart indicates Goodluck traders like and subscribe as for members that listened and got in Baba ,3m, Pltr, & Tesla congratulations I woke up this morning up 10k took profit!! not that many industries where u make 10k over the weekendby JoeWtradesUpdated 2220
Small CapsA lot of speculation regarding small caps being a 'catchup trade'. Perhaps it will play out that way. Perhaps it wont. A few observations: Weekly chart has held long term trend, well, over the past 20 years. Small caps are sensitive to Fed Funds Rates. The circumstances of the rate change is important. My expectation: Small caps upward move will precede the FFR cut. Small Caps should fade from long term trend, given 'higher for longer'. Stock pickers would be better suited to hand select small caps with strong balance sheets, as opposed to a shelf item small cap ETF. by WillNixTrading3
Closed (IRA): SMH July 19th 189/199/275/285 Iron Condor... for a 1.17 debit. Comments: Mixing and matching profitable put wing with profitable call wing from iron condors put on at different times (See Posts Below) to de-risk running into NVDA earnings on 5/22. (NVDA is around 21% of SMH holdings). The resulting setup is a July 19th 205/215/255/265 on which I've collected a net 3.23 in credits; delta/theta -.28/3.45. I'll look at doing a delta adjustment post-earnings if necessary.by NaughtyPinesUpdated 0
SLV Skyrockets: Why This Silver ETF Could Be Your Next Big Win!The chart shows a strong bullish trend with a significant breakout above previous resistance levels. The recent price action has formed a robust ascending pattern, supported by higher lows and higher highs, indicating continued upward momentum. Candlestick Patterns: The recent bullish engulfing pattern suggests strong buying pressure, signaling potential further gains. Ichimoku Cloud: The price is well above the Ichimoku cloud, indicating a strong uptrend. The cloud itself is widening, which further supports the bullish sentiment. Current News and Market Sentiment Silver has recently seen increased demand due to its industrial applications and its role as a hedge against economic uncertainties. Current macroeconomic factors, including inflation concerns and geopolitical tensions, have contributed to the bullish momentum in precious metals. Long Position: Entry Point: $28.79 Price Target: $31.00 (near-term), $33.50 (medium-term) Stop Loss: $27.00 (to limit downside risk) Given the strong bullish indicators, entering a long position at the current price can capitalize on the momentum. The target price of $31.00 is based on the next significant resistance level, with a medium-term target of $33.50 reflecting potential continuation of the trend. Short Position: Entry Point: $33.50 (if the price reaches this level, indicating potential overbought conditions) Price Target: $30.00 Stop Loss: $35.00 A short position could be considered if SLV reaches $33.50, as it may indicate overextension and potential for a pullback. This approach requires careful monitoring and timely execution. Conclusion SLV is currently exhibiting strong bullish momentum driven by favorable market conditions and technical indicators. A long position is advisable at the current price with a target of $31.00 and a stop loss at $27.00. Conversely, a short position could be considered at $33.50, targeting a pullback to $30.00. The overall sentiment remains bullish, but traders should remain vigilant for any changes in market dynamics.Longby AxiomEx0
SPY to 519SPY is currently in an uptrend, and failure to break and stay above 531 will lead to a double top, which will likely see the stock come back to the 519 level.Shortby Abubakar40221
QQQ Scalping Levels 5/20Outlook - 452 is the key level to watch as it was last weeks POC and the previous days high. --If that level breaks and holds with volume then I will wait for a pullback to go long. ---If not then obviously will be targeting my downside levels. Upside Targets: * 452.73/453.26/454.09 Downside Targets: *4451.3450.7/450 Daily Trend Tracker - *QQQ+ *DXY+ *VIX- *US10Y+by JBeTrading0
S&P bulls are unstoppable; market reaches new highMarket closed strongly last week after reaching a new historical high. There was some sluggish consolidation on Thursday-Friday but near end of Friday trading hours, bulls put end to it by setting hourly higher low. Friday closed within Thursday’s range after a failed break-out, which is a very bullish signal. Currently, we have full alignment on all major timeframe: price is in uptrend on weekly, daily and hourly timeframes. There are absolutely no warning signs that would speak for bears. Both short- and long-term outlooks are bullish. If you're already in a long position, you're fortunate and can rest easy. If you're considering entering the market, you can either wait for another pullback or enter now with a reasonable stop-loss. FOMC minutes are coming out on Wednesday, which could cause some unexpected volatility. However, if there are no major surprises, the bullish thesis remains unchanged. Disclaimer I don't give trading or investing advice, just sharing my thoughts.Longby hermes_trisme1
OIH: One Last Climb 🧗The OIH is currently working on green wave 2, which should extend to our same-colored Target Zone (between $335.63 and $353.32). Within this range, the price should complete a reversal and then gradually trend downwards. This Zone can therefore be used to open any short trades. Stops could be placed 1% above the zone. The end of the orange wave III should only be reached below the support at $250.69.Shortby MarketIntel0
Does SPY bottom this week?SPY 5/24 Levels As AMEX:SPY continues to climb and climb the bull rally has no sign of ending. We are expected to have slight weakness this week although seasonals are indicating this week is the bottom. The weekly levels are : Market Makers Hedged - Upside $536.50 Downside $521.50 Markets Expectation - Upside $535.13 Downside $524.40 Liquidity Levels - Lay at the market expectations Pivot - Yellow Box by OakFDom1
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$SPY May 20, 2024AMEX:SPY May 20, 2024 15 Minutes AMEX:SPY managed to hold 527.5 as marked in char with a rectangle box. AMEX:SPY making a series of LH, LL pattern. So considering the rise 527.33 to 529.5 must hold 527.5 528 levels for uptrend. And if we take that fall from 531.52 to 527.33 AMEX:SPY need to cross 530 for any longs as it it represents 61.8% of retracement. AMEX:SPY manage to close at day high of Friday and also close near top of bar. I expect a retracement to 527 527.5 levels before trying to cross 530. On downside if 527.25 is broken, must hold 525.15 levels as it was gap up number. If gap is closed, then we need to wait till 200 averages which is around 524 levels. by RiderTrader0