Stocks have inched up, achieving our profit target of 4293. There will be some resistance here, and it is doubtful that the S&P will have the momentum to break through at the moment. Some ranging or a retracement is likely first. Stocks are clearly in bull mode, but the momentum seems to be waning and the gains are increasingly more paltry. We will have...
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The S&P 500 is currently at the cusp of new highs. It has retraced the entire cypher breakdown. It is likely we will retrace here to support. First, we have had three straight days of gains. Second, although we are seeing higher highs and higher lows, the hallmark of a bull trend, these values come at a decreasing pace, ie we are seeing the S&P 500 'round...
Stocks have rebounded to within a few ticks of where they broke from our butterfly cypher pattern. This suggests that the markets have fully digested inflation and interest rate updates from the FOMC meeting and most likely suggests that we are back to bull mode. Nasdaq printed highs yesterday, so the S&P 500 could be soon to follow. It will take some momentum...
Stocks have recovered from the dip which reached our profit target from the butterfly cypher pattern. We dipped quite a bit, down to the 0.618 level (one level past our profit target) to 4144. Almost immediately, investors swooped in to buy back the S&P at lower prices and we closed back just shy of 4245, currently finding support at 4214. The Kovach OBV is...
$AMC trend line holding up. Diamond hands!!!
Unique Symbol AMEX:FSI Trendlines showing possible strength in the short term.
Today let's speak about the current situation on Twitter. First of all, it's important to say that we are not saying "Twitter will do this or that" Instead of that, we will create a future scenario that, IF it happens, we will know exactly how to trade it. What are we observing right now? The price is above an ascending trendline tested several times, and we...
Let the trolls begin lol. To be real the volume has completely dried up since Jan on this stock. It makes sense since its trading at 200+ dollars and trading as high as some really good stocks like SQ and FDX. Others went on to other meme stocks that are much cheaper to trade. The average guy can no longer afford to buy up here and possibly lose his/her...
AMC made a huge run up to 70s but now needs to correct the leg that pushed it up. It is currently working on a descending triangle formation that will eventually lead to a proper fibonacci retracement near the low 30s which will most likely fill that gap up before running back up again. There is a huge possibility this can hit not suprisingly (meme) to 100 if...
AAPL shares are starting to get thrown in the mix with Reddit's memestocks trend right now. I don't think it's a bad thing to be honest and longs (including myself) aren't opposed to the positive momentum in the market. The stock itself has held a great trend and now continues consolidating on the daily chart with the 236 fib acting as a support level. Maybe the...
Today we will share a daily view of the $BABA chart. Main aspects we can see here: -The price is facing an ascending trendline. -The previous level converges with a support/resistance zone working since 2018. -The current bearish trend can be defined as a descending Wedge pattern (if the price keeps moving between the structure lines, of course.) If I'm...
Wyckoff distribution is so very painfully obvious. I thoroughly enjoy when the big swingin 🍆's with giant piles of cash don't attempt to hide their tracks, because they don't think they need to.. and normally, they don't. Most countries cannot compete with trillions of dollars in capital that's also likely leveraged. There's not a doubt in my mind that the...
Let's see if market sticks in there. Nice base around $40.
Stocks have inched out highs on Friday. Asia's opening has seen little movement from those levels. In order to maintain current levels we need some momentum desperately. Otherwise, we will likely see a retracement. As we have noted multiple times in this report, 4188 or 4144 would be nice targets for a selloff. Buying at these levels would be FOMO and would...