🖼 Daily Technical Picture 📈 ➤ Markets pulled back but in the short-term, it is still zig-zagging upwards. It is inching higher and so is the hurdle required to proof the case for a new Bull market. ➤ For May, the monthly price failed to close above the Feb high just like in prior months. It has however put in a place a higher high. The higher high at 422.58 on...
- NVDA closed right at support very likely testing it again tomorrow morning. - Nvidia does not have a lot of support in the gap zone so potentially more sell off if we do get into the zone. - SPY rising wedge pattern is still in play. - QQQ daily consolidation is still healthy havnt even pull back to 0.382 yet which potentially can still be a daily bull flag....
MFI oversold and both chart and indicator patterns look like the highlighted area. Flipped my puts on open, still deciding if I want to go long. remember NQ is overbought on teh weekly charts.
QQQ providing a good risk reward scenario for new entries with the potential(though not confirmed) trend change. With bank failures, it seems that increases rate hikes could stress banking system and lead to more failures. Market is now pricing in a lower top on the interest rates and potentially cutting of rates by end of the year(unlikely). Short term these...
BULZ on the one hour chart is showing a high tight bull flag which typically heralds a bullish continuation. The tight consolidation channel formed today at the POC line of the volume profile. The zero-lag MACD shows the lines under the histogram and about to cross. The histogram itself has dropped to a zero amplitude. The trigger for the bullish...
🖼 Daily Technical Picture 📈 ➤ Bulls may have horns instead of FAANGS but it is just an effective weapon. By some measures the Bear market is over and the Bull market phase is in its infancy. ➤ For me, a strong monthly close in May above the February high is that confirmation. Such a close would reverse the downtrend on the monthly chart. A failure to do so will...
CME_MINI:NQ1! Nasdaq will decline by 1 to 2 percent tomorrow as $NQ_F was rejected at the 50EMA. The next support level is projected to be between 1 and 2 percent below the current price.
NQ weekly overbought on RSI and MFI. MFI is oversold on my short term 3hr chart, but be careful going long tomorrow, especially on tech stocks. Not sure if I'm going long tomorrow or just sitting out until 3hr indicators go overbought again. This chart is kinda scary.
- AVGO blow of top, Earnings report Thursday - NVDA broke 1 trillion dollar today which sucked in some new buyers then it came back below it, now has 400 psychological support - SPY rising wedge is still my support & resistance visual guide - QQQ potential monthly resistance at 0.618 fib retracement
The chart is clear, the daily candle just closed like a shooting star in the futures session. It is not enough to say that a correction is coming, but if it closes below today's closing level tomorrow, it is very likely that it will drop quickly.
After taking out the October and November lows, QCOM has surged to activate a Fake Break Down reversal pattern, as well as an odd looking island reversal pattern, leaving behind almost the entire month of May's trading days. It might need a breather here as it runs into some short term resistance, but I'm long.... 🤷♂️
MFI rapidly falling and it'll probably go oversold before the market opens tomorrow..... which means another pump? Hard to believe with 3 hr RSI still close to overbought, and both daily and weekly indicators are also overbought. Not chasing it that's for sure. Shorting BUD via weekly options. I teach skiing, and one of the funniest things a kid said was "the...
Weekly Chart GANN LEVEL, there will be some resistance from this level. The next GANN level is much higher and I don't see what can push it to the next level. I rarely use indicators but here is a RSI which shows how extremely overbought.
It has been four months since my bottom call of the QQQ (the purple vertical line) . In that post i've discussed two types of correction. One of the scenario's is on the chart still. For the other, see my previous post . It looks like it is time to take some profits from that trade (if you've managed to take the trade four months ago), as the price is touching...
AMEX:SPY made a significant move to the upside on Friday, surging back to the $420 level. This was largely driven by an AI-driven surge that positively impacted both the tech sector and the broader market (including banks). However, it's crucial for bears to prevent a weekly close above $420 and look for a pullback similar to what occurred at the beginning of the...
this is overobughjt and on fib go all in short free 400p, be careful for some bullcrap momenent tmrw maybe to 14500 so risk mangement is key but keep a short until it goes down to 14000, i want to se 13600
The tech sector is on a tear. NASDAQ:NVDA earnings set the tone last week and the AI craze is on. NASDAQ:QQQ had a bullish week, closing up +3.53%, bringing it up +8.76% on the month. Strong earnings, job cuts, and developments in AI technology has sent the sector higher. Technical Analysis: The last two weeks saw NASDAQ:QQQ break out of the rising wedge we...
- Support & Resistance guide for all 6 big tech stocks NVDA TSLA MSFT GOOGL AAPL AMZN - psychological 1 trillion dollar level for NVDA 405 - TSLA wedge pattern still in play - zero red flags on the chart for MSFT and AMZN need hourly downtrends to confirm for any signs of bears