Still looking for the 5th wave to form and then to be followed by a crash move. The next 3 months are likely going to be brutal. I don't think Congress reaches a deal for new stimulus by the August 10th recess one week from now. I think that will tank the market along a other reasons I listed in my last post.
Again, I think we bounce higher first, to finish the...
Since a lot of bearish posts out there talking about financial collapse. I was in that camp a couple of months ago, but things are changing fast. The money rotation in the new economy names is happening and there's really no reason to be bearish right now. The truth is Covid isn't as bad as feared, companies can adjust with technology, and the market is moving...
M&A Headlines and the First-Trading-Day-of-Month
M&A headlines and the first-trading-day-of-the-month phenomenon could be driving today's price action, which may or may not necessarily follow through into the week. Last Friday's trading plans stated: "Our models are looking for a daily close above 3260 today AND a follow through on Monday, to adapt a bullish...
see full chart at www.tradingview.com
Target 1 $460
$AAPL Just Announced 1 to 4 split!
Last time they Announced a Split was 4/23/14 for 06/09/14
Look at this chart ( they had almost a 20% run!)
Aside from that, they have amazing ER result.
Apple (NASDAQ:AAPL) reported quarterly earnings of $2.58 per share...
The rate of SNP at which recovered since the bottom on March 23rd 2020 is regressing into a logarithmic recovery (see blue line), which is similar to the bottom of December 2018, although not as steep as 2020.
In 2018 the recovery stopped when we reached the previous high around $2,940, then we saw a a fibonacci retracement to the second level ~$2,726 .
Choppy trading in SP500 continues. All declines were bought back quickly last week. It seems to be positive. However… Advance Decline Line doesn’t support this. It is negative in a short-term perspective. Based on cycle studies we can expect to get buy signal around 10 – 15 August. Till that time we will likely see more choppiness with a bias to the downside. I...
SPY closed up 0.79% last Fri.
And at the ATH monthly close.
Augurs well for new price ATH.
ES futes trading up +19 handles as of now.
SPY suggested up open about 0.6%.
Most Mondays are green in the past 2 months.
Big cap tech has been pulling the other indices with it.
Strong earnings, in the face of pandemic, is exceptional.
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August Wk 1 Thoughts
Off the heels of important earnings last week, what's possible this week? Bull breakout or an unexpected pullback?
1) Weekly Time Frame
Medium bullish candle. Not very standout-ish. Seems weaker considering its wicks are within the previous candle.
2) Daily Time Frame ...
will open on a gap up to the very top of the current multi days bigger range. The top of this range I my mind is the boundary to ES ATH so will watch that around 3286. We also have a smaller time frame lower range that has support at 3270 area this I also will be watching and will target 3250 if we can get back into this lower range. I however have my doubts we...
Hope this idea will inspire some of you !
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On Friday, I pointed out that SPY was developing a short-term bullish channel. I saw that because the smaller rising wedge I had been tracking from June forward was not dumping properly. However, zooming out a little farther, there is actually a wonderful, much larger rising wedge that has been forming from all the way back in May.
I actually really like the...