AMD wicked right off of the 100% fib extension after 3 consecutive days of insane bullish momentum... This is also the exact height and price range from the May 13 (bottom of cup) low to July 7 (upper lip of cup) high. Textbook target price of a cup and handle breakout has been reached.. This extension level is most likely the end of this breakout move in the...
AMEX:GLD This looks like it could be setting up for a longer term trend. There is a lot of space ahead of us while the longer term bulls won out on the last important retest. Bearing in mind this is on a 2 day chart.
NYSE:JPM Jamie Dimon and his army of minion traders at $JPM are printing the classic bear pattern of a H&S top (green). Measuring that formation, that should put us at a local bottom sometime in October. From there I would expect the Santa Rally to be our retest of the neckline, before creating the base of the much larger H&S pattern in yellow. Measuring that...
NASDAQ:QQQ Yesterday I posted about the Q's showing weakness... While that is still the case, it is gaining strength. I would be watching this new wedge to see if we get more of a confirmation. Fed meeting did not scare tech which could allow further gains.
I see a repeating divergence in INSM for a decent short play after this market maker finishes with a target of 7.50
NASDAQ:STAA I wanted to bring this up as a potential long term short opportunity. This stock has been breaking down and looks like like it might be losing even more structure as a retest of the bottom trendline is currently happening.
NASDAQ:AAPL I'm watching AAPL to give the broader stock market more direction. The double at ATH followed by a sell signal could mean more pain to come. It's always easier to find the downside risk than the upside potential when a stock is at all time highs.
NASDAQ:MSFT Long tails are giving me a bit of concern but overall we are still in bullish context. If we can't hold above the trend it may see a 5 - 10 decline.
NASDAQ:QQQ Overall, there are a lot of bearish technicals in this market. The Q's put in a weaker bullish engulfing after bearish engulfing which is showing weaker bulls than bears at the moment. Bears could see a big opportunity here. It's still hard to bet against this market.
Symbol: NASDAQ:TSLA Indicators Laguerre RSI Multi-Time Frame EMA x2 Thoughts: This is really showing weakness on every part of the chart. The view is in log scale which brings into perspective the downside risk. My fear is for the loyal TSLA shareholders. These would be the last to sell.
Symbol: NASDAQ:AAPL Indicators Laguerre RSI Multi-Time Frame EMA x2 Thoughts: The technicals are holding up strong despite earnings coming out. The Laguerre RSI is starting to slope down which could be a sell signal. Watching this over the coming days to see how this indicator trends.
AMEX:SPY This chart is analogous to a kid in a candy store where the store manager keeps slipping this kid bags of candy after school, the manager is a nice guy and oblivious to the situation, his intention is to make the kid happy so he will be on his merry way and wont bring up tapering in the next FED meeting.
Symbol: AMEX:IWM Indicators Laguerre RSI Multi-Time Frame EMA x2 Thoughts: This chart looks very bearish but I'm hesitant to sound the alarm due to how many topping patterns we seem top gap above. The bullish case for the IWM would be the LagRSI crosses above this bearish zone with a close above the rounded top and confirm the violated trendline as support....
NYSE:SNAP Check out my detailed analysis on how I came up with the technicals you see here. If you like the video I can do more of these no problem. Thank you to all my supporters!
NYSE:SNAP Can a great earnings report get through these levels of resistance?
NASDAQ:NVAX We got our pop higher on NVAX but we hit right into resistance. We still have bullish momentum trying to get through this level but if that weakens this could be another trap. This stock has the tendency to be extremely volatile so take your gains when you got them and don't stay in based off hopes and dreams.
AMEX:SPY S&P futures are rebounding very strong after a huge sell off to start the week. This has likely caught a lot of people off guard but really shouldn't have with the liquidity flowing into the markets. We will be watching closely at the next FED meeting to see where we as we discuss further tapering.
NASDAQ:APRE Very unusual options activity came in on this one at 4.79 with the assumption the stock would continue higher by August 8th. Currently the option play is down but that doesn't mean we haven't found support here and may bounce higher catching some off guard. If not the support level is clearly defined.