We have an interesting situation, at least for the following 6 weeks...After the jobs report, the market is repricing the timing of tapering and eventual rate hikes it would seem. Financials had underperformed for some time, and $QQQ and $SPY moved higher thanks to growth names regaining strength, while bond yields were falling and a big unwind of losing yield...
I think we are entering a period similar to that of April 2020 to September 2020, and growth names will outperform value stocks dramatically until Q4 2021 or Q1 2022. The market could be about to top in the very long term after these developments, as we had a massive rally in oil, and a rapid surge in global credit creation since the pandemic lows. Govts and...
By now, price has wiped out the 2 month timeframe range expansion stop loss area, basically retesting the yearly open price. People are now buying into YET another 'technical analysis' excuse for NOT selling and or buying into it on margin once again. This will keep going until the market bottoms. The reason bear markets are so annoying to trade is this, people...
The weekly Time@Mode trend signal here expired, signaling a potential reversal in the making. Price action was seen basing for weeks on end since the initial rapid decline stopped. Looks like price can stage a comeback and land on $214 or higher, or even new highs in the coming months. I'm long from around here, aiming for the blue arrow target, but potentially...
The way I see things we are about to have a face melting beta rally, with growth outperforming value again for the rest of the year and into Q1-Q2 2022 at least. $NFLX might be a good position to have, quite unloved for a long time, lagging the mega cap rally, and coming out of a nice base, weekly uptrend formed after the 9 week down trend signal expired last...
I like the setup in $PBF here, 35% upside at least from here vs a 14% downside risk. I'll keep an eye on the target zone, as this could move even higher over time, until the forecasted rally duration pans out. We had some great trades in this stock since the March 2020 bottom, last weekly signal panned out perfectly before, I think it will perform once...
Downside risk in $CF is pretty low here, can break out and rally toward the targets on chart within the next few days. Can be a good position to have for roughly 9 days. Cheers, Ivan Labrie.
I suspect the $EURCAD cross pair is reversing in the weekly timeframe here, we might see a substantial rally as oil could be peaking here, and the $Euro is oversold. The setup calls for a potential rally to 1.53, with risk down to 1.47 if the trade fails. Ideally you try to get in on dips after the market is open, keep an eye on price action for an entry....
We either started a bear market here, since the break down from the lower high (and the 2nd and smaller rising wedge concluded) OR we are at a nice retracement to rejoin the bullish trend which is still active, which could culminate with a rally topping short of 100k, by May 2022. I can confirm which is more likely over the coming days and weeks, and will give my...
I like the setup here for some quick gains in this ETF. Downside risk is very low compared to potential upside within the next 10 days give or take. Longer term this could go higher, value stocks are strong in general due to inflation concerns and the reopening momentum. Best of luck if taking this trade. Cheers, Ivan Labrie.
Nice upside with relatively low risk in $ULTA for a swing trade here. I can see this rallying until August 20th easily, and reaching as high as $426 as best case scenario here. If price were to move below the white horizontal line this signal becomes invalid. Best of luck! Cheers, Ivan Labrie.
Seems like #AUDUSD has a low risk long trade here, with favorable reward to risk and probability. Worth a shot risking a small amount to the stop. Cheers, Ivan Labrie.
It looks like $GME is ready to break out from this range it was coiling in and massively rally towards $2360 per share by late August. I'd give this a 65% probability of happening, vs risk of losing 30% if it fails to rally. That's a 33 to 1 reward to risk which makes the trade totally worth it. Try not to risk over 5% in the position if you take it, in my case...
I am not a firm believer on inflation being transitory, and am pretty sure we are in the very last innings of a long term rally in equities that started from the 2009 lows. The yearly #SPX chart suggests this tops this year, which could be at any point of the year, and logically not later than EOY. The big question is when will the Fed hike interest rates, and...
I'm pretty sure we saw the top of the alt season rally here. If Bitcoin topped for good or not, $ETHBTC likely goes lower next. Everyone and their mother believe in up only and want alt season forever, people quit jobs for crypto, there's a lot of flippening talk, before this drop people were talking about the price levels they want to sell $ETHBTC at, higher of...
I was considering the action before a long term top, with the action we saw lately in equities and the bubble in altcoins, it is very hard to stay long #Bitcoin here. I don't think it's safe to hold long exposure for the time being, and there is a distinct chance this was a long term top. Buying the dip near 50k was rewarding but it is probably time to bank those...
I'm pretty sure Ethereum Classic topped for good here vs $Ethereum and $Bitcoin. Let's see how this plays out, shorting is probably safe with a small position. Cheers, Ivan Labrie.
I think the alt season period we saw lately is over, it was a massive run since Dominance had peaked when Bitcoin was 1 week from peaking at 42k. The wealth generated in altcoins could be diverted towards Bitcoin here and help it recover from these levels. Certainly if I was an altcoin whale holding massive amounts of Ethereum in profit, I would rotate it into...