Let price guide you Can play the upside as long as price remains elevated above 4260. Below 4260 and we likely see a choppy move into lower red box. GL Today!
In the chart above, I have marked two separate trends/ wedges. SPY loves to form wedges. The orange, diagonal line is a trend that has been followed since January 10th. The orange horizontal line is a key support range. I expect both of these to conjoin, forming a wedge in the next few days. The yellow lines showcase a wedge that has already formed, and that...
Same as Nasdaq SP500 does not appear to have finished the consolidation.
Today, we will look at FB renamed on meta. Currently, we are on 142 days Draw-Down since the previous ATH and a decline of 25%. From here, we will analyze both bullish and bearish scenarios based on the context we can see now. Bullish Scenario: The price bounces on the lower trendline of the corrective structure and breaks the inner descending trendline; on...
A horrific thought for the Bid. Should VXG continue to defend its Globex Pullback and then Dip into Resistance, the proverbial Sky is the Limit. VXG @ 36.65 = 4072.25 for the ES. There remains a larger Daily Gap Fill @ 4010. _______________________________________ TSLA did not help yesterday as 11%+ was carved off the Pig on the Spit. This is growing...
still in a flag. adjusted trend lines. demand in white rectangle. tomorrow should be an interesting day!
Why try and guess if we reached the bottom? Stop trying to catch a falling knife. Set alerts for these trend lines. Once the stock breaks these trend lines expect string momentum to the upside. Be patient. Let the trade come to you, don't chase the trade.
After huge sell-off market seems to be digesting the earnings and reasonably stuck in a range. Good thing is we have clear levels to trade Bad news is for those who shorted at the recent lows...or day traders who expected more volatility to continue. best course is to wait for the direction either way before making a move. trend is down, and with no...
This is my hopeful outlook on NIO over earnings. I'm stuck in 3 x $70 03/19 calls, but have accepted I may need to close at a very uncool loss if we break a new low tomorrow. Hoping recent catalysts (CNBC Fast Money, Barron's report on Korean investment, new factory etc.) can run us up over the next week prior to earnings. Also hoping SPY can put in a few...
Interesting time in the market - people calling a crash, people calling a melt up then crash etc. Why try and predict ? As a trader your job is to react - level by level , price by price. Let price action determine next outcome. Nice "Bear Flag" or "Accumulation pattern" ; you can trade the box or wait for a breakout higher / lower . If you watched today...
I have been posting that the spring and a date jan 27 time frame would be an event I feel that the downside is focused at gold ratio support and max fear this is wave A within the bear market the final low is due oct 4 of this year but we are near the bottom and will soon see a rally for a few weeks after this cycle is ended .I will post detail later...
Bearish Breakout on the NASDAQ! Price has consolidating in a narrow range right now, just above key support. This is important as a break below the 14,000 support level could indicate more downside. Here are the key levels to keep an eye on.
Hi everyone, Wild ride on the markets continues. VIX has stayed around 30 the past couple of days and moves in both directons were extremely aggressive. We have stayed in the negative gamma zone for the past 6 days and it is not unwinding just yet. That means there are even more extreme moves ahead of us. Untill we see a decent rally and VIX crush to 20s ,...
Ask yourself if you was a ruthless criminal with all the power in your hands what would you do? Ask yourself if you was a ruthless criminal with all the power in your hands what would you do? Ask yourself if you was a ruthless criminal with all the power in your hands what would you do? Ask yourself if you was a ruthless criminal with all the power in your hands...
Relative Momentum of Weighted vs Equal Weight Index ETFs
SPX has rejected the 0.382 fib level from our Jan 4 high to our Jan 24 low. This often signifies a failed reversal attempt and buyer exhaustion, thus forming a higher low within the current downward trend. SPX also appears to be forming a bear flag, further strengthening the downtrend thesis. Stay frosty out there.
First target (green arrow) if 4375 on es after open holds it up. Will try to post trades that system hits on.
I think the market is mostly waiting for AAPL earning, which come out after the bell. Whether they gab up or down, I think selling will come in. And by selling I mean, "Man overboard". 400 price level on the SPY will be an easy target. Good luck.