- TSLA decent monthly uptrend follow through relative strength to QQQ today - NVDA relative weakness to QQQ today but still holding on to key levels. - AAPL no bear follow through today after yesterdays drop, todays sideways range will break tomorrow is key - SPY relative stronger than QQQ today, XLF KRE IWM all participating in money rotation today.
AMEX:ARKK – Maybe the best ETF to measure “Risk-On” in the market. I have been in and out of AMEX:ARKK a few times over the last 6 months. I thought it was going to start its stage 2 uptrend back in February. That was a false break-out. It is now back over its 40 Week MA, above all shorter-term Mas and has broken above an area of resistance (flat blue line). I...
On a Break above the trendline, long entry supported. Holding major volume support and less than 50% Pullback Targets 1:1 or 1:2
Just a reminder, NQ daily and weekly indicators are overbought. 3 hr chart shows MFI declining, and probably goes oversold, so we probably get one more pump before the reversal. Daily and weekly indicators can take a few days or even a couple of weeks to play out, the drop may not happen until the Fed meeting next week. All the same, I'm not feeling very...
Back on April 6, 2023, I posted a NYSE:CVS chart as it was looking like a breakout then and I started a small position. It quickly failed the that day, and I was out. Fast forward to yesterday June 1 and I determined it was breaking out of the long term down trend again, so I added a starter position. It’s following through today, so I’ve added more and brought...
Freshworks looks to be in an inverse H&S pattern. There are many ways to draw in a neckline, I did it as simply as I can see it. I missed the break of the neckline on May 31 that had plenty of volume. It’s now moving past recent highs and I have started a ¼ size position. I like several things about this stock and the first fundamental I like is, it makes money!...
I took this trade because of apple outrageous headset price. i only bought 1 contract
Today is looking extremely promising for Nasdaq! We have a head and shoulders pattern forming but with recent positive fundamentals we could see this pattern invalidating taking us to our key area at 14704. If our guys are invalid we have a key reversal area respecting the head and shoulders pattern - once buys are taken and closed we monitor for a sell in our...
Just some thoughts on NASDAQ:QQQ moving into the second half of the year. As you can see on the posted chart: -Gap in the daily chart around 360-361. -Approaching 0.786 retrace from March 2020 low. -Approaching underbelly of trendline from Feb 2020 high through multiple touch points. -RSI entering overbought territory on the weekly timeframe. Currently...
Tech has been on a tare, proceeded by a rip. QQQ has gone up further than I anticipated but the market is finally showing serious signs of exhaustion. The outrageous valuations and proclamations of a new bull market are sure fire signs of the' end of the road. It has touched the .618 fib level and depending on how you are looking at it, even surpassed it by a...
- Tesla TSLA broke above monthly uptrend today, and lacking a little follow through due to QQQ being flat, although there is still 25 days left in the month so still got time. - Nvidia NVDA forming a 4h equilibrium, also potential H&S - AAPL looking like sell the news, potential blow off top but need a lot of a bigger drop for it to be a blow off top. - SPY...
hopefully the team got longs today. keep reasonable stops, late or early entry dont let losers run.
My previous thesis played out perfectly on this in 2022 (see profile). Now, we have sharply flipped after getting close to the bottom of the channel on this key pair trade. The beautiful breakout, with a confirmation pullback, suggests the outperformance of QQQ over SPY will continue and the breakout of the channel which occurred in 2020 is here to stay. Given...
So far it has been the big caps like Google, MSFT, AAPL, and NVDA that has carried the NASDAQ 100 up higher, but now we can see that the Equal Weighted NASDAQ 100 is getting ready to break through resistance after making a series of higher lows and it is likely going to target at least an 88.6% Fibonacci retrace. At this time, we may see the NASDAQ 100 itself...
I caught QQQ on a quick bounce of a 2day channel it has been trading in. i do expect it to fall soon
If you zoom out on the S & P 500, the measured moves and fibs line up fairly perfectly and in my opinion paints a more realistic picture as far as expectations for the market moving forward. It is hard for me to see this market going market going all that much higher at all. With blow off top type price action in names like NVDA and the recent price action in...
QQQ crushed it again last week, testing a breakout above the channel we drew last week. Investors will look at Apple’s press conference at WWDC 2023 (Monday at 1:00PM EST). It’s safe to say that whichever way Apple moves, NASDAQ:QQQ will follow. Technical Analysis: Although we got 2 candle bodies to close above the bullish channel, we still have yet to have a...
SPY has had a good run this spring. However, things are changing. Just this week, the debt \ ceiling got raised. The fed will be auctioning large amounts of treasuries to pay bills. This is money that will not go into the equities markets. Buying volume on a dollar basis will likely go down as a consequence. On the daily chart with a double Bollinger...