We plowed through new highs last week as I anticipated in a bull case last week. The green levels in this weeks chart are last weeks major daily support / resistance levels from a couple order flow experts on fintwit. First thing I learned in stocks was that when the Normies (normal people) know, it's time to go. The 19th* dip trend I've been following...
For much of the rally since march 2020 the Dow jones transport index has been a great leading indicator for weakness and strength for major markets If we stick to that rationale it looks like we should expect some weakness across the SP500 and other major markets in the following weeks just in time for OPEX.
Asia soft liquid 💧@388 then Open witch shenanigans close @394
There's no doubt BLNK has had a meteoric rise over the past few months. Gains YTD are up over 2,500%. This is a company that I think has a bright future (no pun intended), but not at this valuation. Current price is trading at multiples of 344x of sales, 95x of book value and 104x cash. Most recent 10Q shows me that: GP is up approx 122% from 3Q of last year...
Description: An analysis for the week ahead. Points of Interest: $3,580 Balance-Area Boundary, $3,506.25 Excess Low. Technical: After an initiative upside drive on news that another COVID-19 coronavirus vaccine developed by Moderna Inc (NASDAQ: MRNA) was 94.5% effective, U.S. index futures pared gains as participants struggled to maintain higher prices,...
Description: An analysis for the week ahead. Points of Interest: Prior ATH, Poor Structures, $3,500 and $3,370 High-Volume Areas. Technical: Broad-market equity indices ended the week higher with S&P 500 retracing more than 80% of its September sell-off. During Last Week’s Action: Alongside fiscal stimulus hopes, U.S. index products surged past and...
In light of the Nasdaq's incredible run, here are some references to be aware of.
Description: An analysis for the week ahead. Points of Interest: 4-Day Island; Gap; 4-Day Balance. Technical: Mixed messages provided after equity indices broke the short-term, momentum driven uptrend, and corrected on June 11. Overall, the island of balance left behind, after the market sold-off, is still intact and will offer resistance on upward...