$BTCUSD (Bitcoin / USD) – A True Breakdown, But More Weakness Ahead Bitcoin ($BTCUSD) parred losses from the earlier week with a subtle +1.45% gain. $BTCUSD remains languishing at the $16,000 level as $3 billion escaped crypto exchanges in early November amid a bank run on fears of an FTX contagion. $BTCUSD daily action continue to morphed out a further Bearish...
Tech and growth names have been hard hit since the start of 2022 by a rapid rise in Treasury yields on the back of expectations that the Fed will hike interest rates aggressively to combat high inflation as higher rates can hurt their companies with high valuations based on the prospect of future profits. The tech-heavy $QQQ came down lower with a loss of -1.09%,...
$NINE have such as impeccable and clean rally above its 10MA (+320% rally in a mere 7 weeks), turning up ahead of $SPX 13/10 YTD bottom since 29/9 intraday +10% closed. clean and healthy numbers on ESV Dashboard. U/D Vol Ratio at 2.4 is nearly unheard of in this environment
The tech-heavy $QQQ surged 8.84% last week, compared with the S&P 500's 5.9% in its sharpest weekly rally of the year. This welcome inflation news, combined with a huge drop in the dollar and market rates, launched an epic rally. The $QQQ for its part soared 7.4% on Thursday alone, reclaiming its 10,20 & 50-day moving averages within the single session. Many of...
$RUN - Technology | Solar broke out of a descending wedge during its most recent earnings report (QoQ growth in EPS and Sales) on high volume. the past days of resilience in its price action tells alot of its strength in this market. already at RS high before price
$FOUR - Tech | Software - Infrastructure after a stellar earnings report on 4/8, it is coming off a base that is supported from all time low ($30) to rising 10/20 MAs. latest close have reclaim its 200MA with a HTF setup. $50 clean pivot for BO
$PDD - Consumer Cyclical | Internet Retail | China not a fan of trading china companies but the setup with its high ADR% and RS looks ripped for a BO to 52-weeks high
$ARHS - Consumer Cyc | Home Improvement currently flagging for a follow through from its breakout (+23.91%) post ER on 11/8. sitting on VWAP from IPO, rising 10/20 MA with RS. pivot at $9.50 will clear 6 months high
$BTCUSD (Bitcoin / USD) – Reclaiming 10/20-Day Moving Average Is a First Sign Of Strength Bitcoin ($BTCUSD +7.52%) rebounded from $18,900 support level reclaiming posture above its 10/20-day moving average. It is worth to note that $BTCUSD is now trading beneath its declining 50-day moving average. The level of support to watch for $BTCUSD this week remains at...
$SPX (S&P 500) vs $RSP (S&P 500 Equal Weight) – (Net High/Low +17) The stock market came into this shortened week of trading on a three-week losing streak. It looked on Tuesday as if that streak might be extended to four weeks, but there was an abrupt turn in sentiment that powered a strong move in the major indices over the last three sessions from 3,900 support...
$LULU - Consumer Cyclical | Apparel Retail breakout of year long bullish wedge pattern, retaking its 200MA, AVWAP from ATH and YTDH with higher lows since late may'22. latest ER on 1/9 reports continual YoY growth for both EPs (+33%) and Sales (+29%)
$ACVA - Consumer Cyclical | Auto & Truck Dealerships pretty sure none of us gonna miss this trade if it breaks
$HUBB - Industrials | Electrical Equipment & Parts currently RS new high before price high. swinging back above its 10/20 MAs after price lvl at $205 range proved to be a major support.
$XMTR - Industrials | Specialty Machinery revisiting $XMTR after 9 months. U/D Volume Ratio grew to 140% with RS now at YTD high before price. above IPO VWAP and all major MAs. riding on rising 20 MA. key pivot at $53.55
$BTC (Daily) vs $BTC (Weekly) $BTC -9.10% broke down further from the highlighted mini bear flag within its 2nd successive bearish flag formation. $BTC short term MAs have transited to a declining mode, provoking a intraday sell off after resisting price penetration on 26/8/2022
$ULTA - Consumer Cyclical | Specialty Retail 1yr of ranging price action, coupled with higher lows in RS where lows on price remains flat latest ER beats by 0.71, beats on revs, comps of +14.4%; guides FY23 EPS and revs above consensus, raises FY23 comp guidance remarkable
the 19/8 breakdown on $BTC did not follow through to play out the entire textbook projection of a bear flag breakdown. currently $BTC is morphing out another mini bear flag within a bear flag. the drifting price action remains a sign of lacklustre and reluctance from investors
$NCLH - Consumer Cyclical | Travel strongest among the 3 major cruise liners ($CCL & $RCL) as RS flatten since mid jun & 1st in bullish MA crossover (20dv50d) higher lows tightening within its ascending triangle. currently near the apex of it pivot coincides VWAP at $14.35