The S&P 500 is forming a rising channel or ascending channel marked by two blue parallel uptrend lines. Most stocks typically continue to channel until either trend line is broken. An upside break is a signal that buying intensity has increased, while a downside break indicates an end to the short-term uptrend. On the RSI there's a noticeable divergence,...
$NQ_F $SPY $SPX $ES_F -- $QQQ showing alot of weakness with a head and shoulders forming on the daily chart, lets see what happens ;)
being tested
Stonks only go up, and have hit the target set from our Fibonacci Extensions. The Elliott wave suggests they could retrace very soon, and this would be a healthy retracement. We did see somewhat of a sell off yesterday. If we are right, the S&P should retrace to 3547. If we are wrong, it will pick up steam and rally around current levels at 3564. The Kovach...
Great options play. 30% Upside
Stonks only go up. The S&P has yet again made new highs, despite very real risk factors geopolitically, socially, and economically, not to mention an election coming up. The move in the S&P was very strong, and it has already hit the Fibonacci extension from the levels anchored on the previous relative high and low. It is difficult, but important, to avoid FOMO...
Stocks just keep going up, but they are finding some resistance at all time highs at 3526. This is not only a technical but a Fibonacci level as well. The S&P looks seriously over bought right now, and a technical retracement would be healthy. The Elliott Wave suggests a corrective phase soon. The Kovach OBV is not commensurate with the luster we are seeing in...
NASDAQ:TSLA Seeing a possible slow down trend on $TSLA. Many other automotive companies are producing EV's, seems just another possible factor that could take away from TSLA's steam. On the Daily chart we seem to hit a period of consolidation. If this accumulation doesn't feed enough momentum to continue upwards- I'll be watching to see if this stays within the...