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Happy Monday!
Spent the whole last week going up and down, only to finish sideways. But if we thought last week was crazy, this week is going to be surprising. The biggest names: Amazon, Google, and Apple will be releasing their earnings Thursday after market close. Prepare for some waves...
What is the market saying?
- It's chip choppy until the big names release earnings, and until government decides to on what to do with the lockdowns.
1) Weekly Time Frame
- Have a nice pin bar / tombstone candle made last week. the case could be made for bulls or bears. If this is the top of a run, it's possibly a reversal. Or this could be a slight sell of uncertainty, just before another run up. Tough call ATM. A bull flag was completed on the weekly. It resulted with a rejection.
2) Daily Time Frame
- Bulls trying to hold out of the channel breakout.
3) Daily Indicator Standings
MACD: Above zero // Buy
BB: Hit deviation line 15 July // Working down to centerline
RSI: Set a 6 day low // 59.59 -> 56.52
KO: Signal line above 0 // Slow line above zero // Sell signal
OBV: Overall Uptrend // Near volume amount before the crash, above 10bil for 3 days
Resistance levels
(Pre-Market) 322.35
322
322.5
323
324.5
325 (pshychological)
327
Support levels
(Pre-Market) 321.43
321.5
320.95
320.75
320.2
320
319.75
319.3
Unfilled gaps
North side
327.23 - 333.48
South side
319.09 - 318.92
310.68 - 310.52
309.07 - 308.36
296.74 - 295.44
291.95 - 286.28
3) Side Thoughts
If this helps you like and follow the chart all day. Ill be giving updates as they show up! Getting feedback helps a lot. Thanks for taking the time to read. All of this information is my interpretation and shouldn't be taken as trading advice. Good luck out there traders!
Happy Monday!
Spent the whole last week going up and down, only to finish sideways. But if we thought last week was crazy, this week is going to be surprising. The biggest names: Amazon, Google, and Apple will be releasing their earnings Thursday after market close. Prepare for some waves...
What is the market saying?
- It's chip choppy until the big names release earnings, and until government decides to on what to do with the lockdowns.
1) Weekly Time Frame
- Have a nice pin bar / tombstone candle made last week. the case could be made for bulls or bears. If this is the top of a run, it's possibly a reversal. Or this could be a slight sell of uncertainty, just before another run up. Tough call ATM. A bull flag was completed on the weekly. It resulted with a rejection.
2) Daily Time Frame
- Bulls trying to hold out of the channel breakout.
3) Daily Indicator Standings
MACD: Above zero // Buy
BB: Hit deviation line 15 July // Working down to centerline
RSI: Set a 6 day low // 59.59 -> 56.52
KO: Signal line above 0 // Slow line above zero // Sell signal
OBV: Overall Uptrend // Near volume amount before the crash, above 10bil for 3 days
Resistance levels
(Pre-Market) 322.35
322
322.5
323
324.5
325 (pshychological)
327
Support levels
(Pre-Market) 321.43
321.5
320.95
320.75
320.2
320
319.75
319.3
Unfilled gaps
North side
327.23 - 333.48
South side
319.09 - 318.92
310.68 - 310.52
309.07 - 308.36
296.74 - 295.44
291.95 - 286.28
3) Side Thoughts
If this helps you like and follow the chart all day. Ill be giving updates as they show up! Getting feedback helps a lot. Thanks for taking the time to read. All of this information is my interpretation and shouldn't be taken as trading advice. Good luck out there traders!
Comment:
So far bulls fought back, will they be able to keep it up for a 15m candle though?
Comment:
322.34 is the number bulls need to cap first.
Comment:
as expected, a little pushback at this number.
theyll want to close above to work towards the nice resistance at 323.
theyll want to close above to work towards the nice resistance at 323.
Comment:
already had a test of 322.34 and it held. if bulls dont get to 323 soon, bears will want to push lower than .34
how about 321.5
how about 321.5
Comment:
well everything is going to plan. bulls never closed above 323, bulls ran to 321.5 so whats next?
theres a tiny hourly bulls flag in a larger daily bear flag.
above closes 322.75 is a search for higher numbers
below 321.6 is going to lower levels
theres a tiny hourly bulls flag in a larger daily bear flag.
above closes 322.75 is a search for higher numbers
below 321.6 is going to lower levels
Comment:
got a bull flag in the works.
staying above 322.3 and pressing up on 323.75 is a sign theyll want to boost higher
staying above 322.3 and pressing up on 323.75 is a sign theyll want to boost higher
Comment:
bulls made it.
next resistance should be 323.8ish
next resistance should be 323.8ish
not a good start for bulls.
Staying above 320.75 is important for them ATM