Happy Friday folks! Let's get right into it today. US Futures traded relatively flat in the overnight session with the Dow down -0.12% to 34,420, the S&P down -0.11% to 4,233, the Russell up 0.29% to 2,315, and the Nasdaq up 0.07% to 13,969 as of 8:30AM. Yesterday's PA came as a bit of a surprise to trading desks across the Capital Markets, as the typical...
After lagging behind the other indices is it the QQQ's turn to break out to a new high? QQQ has obviously been leading (not saying much) as of late. Growth seems to be ready to explode again. So much short interest up here without a doubt. We have grinded the way up and that's not a bad thing necessarily. Looking for a bit of a move up overnight/premarket then...
While iShares' Russell 2000 index ETF (IWM) broke new highs and found support on the retest, the large cap benchmarks failed to make new highs, showing resistance instead. Something's gotta give. Since the 10-year broke support (inflation IS temporary) my guess is the large caps will soon follow the small caps higher.
Based on the Elliot Wave theory, there are three things that I think ya'll should check out. We are close to a correction but one of them is a two year bear market and the other is a 2-3 month correction before the next impulse wave to the upside. If you guys don't know anything about Elliot Wave theory, I highly recommend reading up on it. There are rules that...
YM and ES MFI are oversold, RTY is overbought and NQ hanging in the middle...
Overbought, no justification for higher levels
AMC breakout again here on the hourly time frame. We were up over 20% on the day shortly after the open, and have since cooled notably. These are some of the craziest flows I've seen in a while. This is pure gambling and the company is loving every minute of it. Mean while, insiders are dumping their holdings and taking advantage of the elevated valuations. Smart...
US Futures traded relatively flat on Monday morning with the S&P up 0.01% to 4,228.75 (sitting just below the ATH), the Dow up 0.14% to 34,790, the Nasdaq down 0.10% to 13,753, and the Russell down 0.01% to 2,286.40 as of 8AM. The US10Y yield fell back to 1.58%, while the dollar (DXY) traded flat at 90.12. We saw another mini flash crash in Vix this morning...
Wave E down in Progress per my count. Real Fireworks start next week. See Chart If we exceed 34849 (Top of Wave D) my count is off.
I have the chart depiction of Nikkei's multiyear rising expanding wedge and outcome laid out here. In my understanding, the Dow, SnP 500 and all the rest of indexes worldwide will mirror this to the final lows in March 2022 and probably beyond. The standard price targets in that rising expanding wedge pattern along with possible cycle date timings are shown no...
A typical breakout with 50% target from here for a short term trade. Though I might exit to BTC instead of USDT in time if I decide to hold it much further as DIA/BTC is at ATL.
VXX has had a couple recent high volume buying climax type days. Do we see a quick retest? Fibs in play. Indicators looking bullish for VXX and the MA looks ready to cross. Let's see how it plays out. Trades active. Not financial advice.
This is a great example of a market that is melting.... up. Every day for the past week and a half we have seen a market that opens speculatively higher and closes lower than the open. If you are looking at markets in general that are healthy you will see that most green candles support an upwards trend while most red candles support a downward trend. This is...
This is my Spot idea for DIA/BTC Targets: 545 - 570 - 620 - 700 Sell: -7% Don't get greedy If you liked my idea, follow me for more 🚀
As noted in my previous ideas about $SPY (bearish), $XLF, $XLI, $IWM, $XLE might be the catalyst that leads the markets higher. $XLF tapped the 8day EMA twice before going back to positive which to me shows resilience with a market that has no sense of direction. A nice hammer doji before breaking off into Memorial Weekend. XLF might try and tap the upper band...
My count has Wave E down on deck for DIA/DJI. In the current wave pattern the wave i up (of Wave D) was so short/quick, thus prediction is that wave v (of Wave D) will also terminate quickly and I think it did today. Stoch RSI appears to be confirming and the Woodies CCI popped a +200 today indicating a possible turn. I had originally thought this might be a...
(Opinion Only)
Hey guys, I hope everyone had a nice relaxing weekend. After a freakish drift higher on the US majors yesterday toward the ATH's, and off the back of a week straight of buy-backs, QE, and dip buying, the SPY is back at the lower band of the ascending green channel (resistance) around 420. Of course, we can't not mention the FED members parading around every day,...