Tracking this pattern. The right shoulder is not a classic rounded shape, will watch the dual necklines.
NASDAQ:TSLA TSLA so far throughout the day has been moving in a range with bearish sentiment. My only explanation for this is that there has been a lot of sector rotation going on this week so far from tech to other sectors such as energy, industrials, and financials, . Just take a look at $DIA, $XLF, $XLE, and $XLI. In addition to this rotation, a diamond top...
also set cloned bull diamond channel below in the event of consolidation
Range is compressing. Line in the sand remains alternatively resistance and support,
History seems to repeat - not a prediction - always looking for the back-test.
I am looking to the downside until we check-in with the Monthly UBB, around 263 currently
Set the yellow diamond to QQQ's pre-market high for a good fit the price action inside the diamond darts is full of choppy wicks..
The lower bound of the large Blue Diamond Channel has been serving as resistance. With QQQ outside it's Monthly UBB I am looking for volatility, in the past, a return to the UBB proved likely. If SPX loses the current resistance the next .5 channel down may be in play.
Scouting a weekly play for next week, Big Diamond Patterns, vs Diamonds made from Fib Res Speed Circles, in the Pattern Trading Definition of a Diamond, leave more Diamond Patterns in their wakes. Diamonds are for Theta Burn..
This diamond is in play, Profit taking was in effect this morning..
Fib Speed Resistance Arcs include a factor for time into the equation. This time factor is the key ingredient in defining the slope that the equity is entangled with. A quick look at the AAPL earnings result shows price tracked to the top of the diamond channel. Penny wick!
Nice pattern for a bearish move. bullish momentum exhausted. NAS100 is risky, be cautious and use proper risk management.
How will the 4/1 split impact options and their delta and theta's? The goal from AAPL is stated to provide expanded access to investing in their company, what do you all project the increase in volume might be?