Over the past few days, we hinted at several warning signs on Nasdaq's continuous futures chart. Since the index broke above 11 734$, it has trended mostly sideways with declining volume at elevated prices. In our opinion, this continues to hint at the unsustainability of the rally, and therefore we would like to set new price targets for QQQ. Our new short-term...
Despite the market's emergent rally in July, 2022 has been a punishing year for tech equities worldwide. Recent Q2 earning from megacap tech players in the US deepen concerns about diminishing margins and slowed hiring moving into Q3/4 and beyond. YTD, Nasdaq is down -21%, and unerperformed the DOW, S&P500, and Russell2000.
One sector with more bullish...
A lot of energy stocks are starting there corrections. I will be posting a few for review. Overall after corrections this sector will create amazing opportunities for the future. Highly recommend tracking closely for amazing opportunities.
Looks like the previous ATH might become the next major floor if we continue to go lower.
Nice confluence with the 200 period EMA. Additional confluence is provided by the Fibonacci golden region between the 0.618 & 0.650 levels.
$5,000 seems to be the ballpark price target for the bears based on this chart.
Let me know your thoughts below :)
Netflix - Intraday - We look to Sell at 642 (stop at 665.4)
Selling pressure dominated price action yesterday and we expect this to continue today. Posted a Double Top formation. The continuation lower in prices through support has been impressive with strong momentum and shows no signs of slowing. As this corrective sequence continues we look to set shorts on...
Been trading against bullish fib line of 1 for ~6000 days continuation of this uptrend are fractals in green and purple, red fractal indicates a drop to fib line of 0 due to the extended time period of this bullish period, I acknowledge that my view may be bias because i prefer to trade cryptocurrency, hence the bullish fractals, but I love making charts. Looks as...
