🔹DIA is breakout horizontal trend channel in the medium long term. 🔹DIA has marginally broken up through resistance at 341. 🔹Overall assessed as technically POSITIVE for the medium long term. Chart Pattern; 🔹DT - Double Top | BEARISH | 🔴 🔹DB - Double Bottom | BULLISH | 🟢 🔹HNS - Head & Shoulder | BEARISH | 🔴 🔹REC - Rectangle | 🔵 🔹iHNS - inverse head & Shoulder |...
In this post I would like to remind everyone of two critical points: 1. Overall market fundamentals are not very good because the situation in the whole world right now is not very good. The Millennial-themed Coronavirus Disease 2019 (COVID-19) was ultimately little more than a pretext to drop economic stimulus under because the economy was already #rekt in...
NASDAQ:NDX is having a TOUGH time here The RSI collapsed Not crazy about 4Hr action atm CBOE:SPX & DJ:DJI are also struggling bit here but don't look as bad as the #NDXdoes Small resistance in this area, pause time? #stocks
I'm tired of the Nasdaq, not sure what's going on in the market. Keeps pushing up for no reason. Anyway, this is a two weeks chart, looks like DOW is pushing to break up the consolidation. Some stocks like NYSE:CAT already broke up. I wouldn't be short even in VIX is in the basement. It may pull back but not much. This is a new era. Indicators means nothing,...
Boeing – This has been a frustrating name for me. It broke out in January, of which I caught some. But it has been in a range, a wide range for 6 months. I took advantage of the bad news on Tuesday, Jun 6 when it dipped and bought a starter at $202 (sometimes its better to be lucky) and added again today as it breaks above an area of resistance. However, it has...
URTY seeks to yield 3X the Russell . The Russell has lagged the other major indices. This is probably because this is a big collection of small companies which are weaker in general and more suspectible to financial pressures like to cost of borrowing to finance growth and so on. This week the Russell is out performing SPY, QQQ and DIA. These leveraged ETFs...
Tesla – one of my favorite stocks. It looks to me that there may be a change in character taking place. It broke out of its long-term downtrend on May 23rd which put it over both the downtrend line AND the 40-week MA. It then pulled back for a successful retest and posted a nice pocket pivot last Friday, May 26th. It is now up against another resistance area...
Is value coming back into play in the #stockmarket? The NASDAQ:NDX does seem a lil over extended Today is the1st day in LONG TIME that the DJ:DJI is leading and the RSI looks healthy SP:SPX is over the 50% Fibonacci AMEX:RSP (Equal weight #SPX) has chance to perform here Let's see if the breadth of #stocks gets better
Looks like Minor wave 3 ended a tad shy of 4136 and a few days late, but still on track overall. Minor wave 4 should only last 2-3 days with the bottom likely occurring by Thursday at the latest. It is possible Minute wave A inside of Minor wave 4 was completed today. Models are pointing to the bottom around 4176 based on historical Minor wave data. Minute wave C...
DIA daily went to a sell, waiting for price action to approach the P.O.M.O Position of maximum opportunity on DIA. With such a nice risk reward why not. My idea would be to play it via SDOW This short is riskier, Vix 1hr and 15min are R/R. DIA and SPY 1hrs went green. You just want to note the daily went to sell on DIA, waiting for it to retrace up to the pomo'y...
NASDAQ:QQQ From this all-time chart, we can see that price is still holding above the "all-time upper support line"; that is, above the 300s. ~ IMO, we can swing between that support line and the "all-time resistance line", for the rest of the year. ~ In that regards, we can hit the low 300s again sometime this quarter, since we are hanging high for now, on...
On the weekly chart, SPY has formed an inverted head and shoulders in the past 9 months Importantly price has now passed above the POC lines of the long term and intermediate term volume profiles. The inverted head and shoulders pattern is classical for a bullish bias for price action. Price has been cconsolidated about the central VWAP of the anchored...
NASDAQ:QQQ may be flashing a warning sign here. Rising Wedge Patterns often lead to a new down leg but not always. Looks like we have a breach to the downside on this wedge. Additionally, it looks like today’s candle is a Shooting Star. These too often are a sign of weakness. The good news is that it bounced off the 20 EMA (blue). If it loses the 20 EMA I will be...
AMEX:FFTY The Innovator IBD 50 ETF – This ETF is sponsored by Investor’s Business Daily (IBD) It holds high beta / high growth names mostly mid and small caps. I like it for its holdings, very similar to AMEX:ARKK except that the holdings in AMEX:FFTY rotate a little more than $ARKK. Like AMEX:ARKK , this is a good barometer of risk-on / risk-off in the...
The chart posted is that of RSP sp 500 equal weighed The spiral cycle are in the window from today to may 12 .I AM LOOKING FOR A CRASH TO BEGIN I AM MOVING TO A 75 TO 80 % NET SHORT TODAY HERE AT 4155 I WILL MOVE TO 90 % SHORT AT 4100 ON A STOP OR IF WE RALLY ABOVE 4171
On March 30, 2023, I posted (link below) my thoughts on AMEX:ARKK being a barometer for risk-on / risk-off in this market. I still hold the same view. I’ve updated this chart and it has simply continued to consolidate into a narrower range. I expect a resolution to either the upside or a breakdown. All TBD. The constructive things I see are the consolidation in...
Who could have guessed markets would rally in an ocean of bad news: Worse than expected CPI Worse than expected PCE Worse than expected Chicago PMI Joblessness Rising Missed Earnings Q2 GDP Contraction in Recession Collapsing Home and Auto Sales Who knew you could miss earnings, lose millions in revenue and your stock price rallies like...
Here we are in this bounce in the markets. We are seeing lower highs, lower lows. It is the best time to get into a position now. If you look at the timelines from peak to sell, its about 2-months. We're about overbought, and the economic data coming out is pretty horrible. Retail, autos, housing, buying and consumer sentiment, debt, revolving credit, personal...