QQQ lost the 20 day SMA yesterday. History shows that there is a very strong probability that it will go lower. Today say it hold at the support of the AI-based rally over the last year or so. It broke through that the other week, but then we say the strong rally. I noted back then that it felt like a dead cat bounce counter rally to me. Looks like it is proving...
Here is what I have been tracking with my technical analysis. What we saw since the end of July is the AI bubble losing its momentum.
What happened?
You can see on June 24th where price gaps up above the long-standing blue trading channel from 2009 that contained trading from 2009 until the 2020 bubble.
You can see it gap down back into the blue channel on...
Right now, not much seems to be stopping the bubble in Tech. You can see we broke above resistance on June 11th and have not looked back. I was expecting some form of test of support, like back in July 2020, but instead any pullback has been bought up. Volume is low and that means that everyone is long to go along for the ride. If we get a run up like back in...
$TSLA:1D
Price breaks out of downtrend at +3SD (190.79).
Potential ‘gap-fill’ up to 206.
Bullish price to RSI divergence. (yellow lines)
Pearson’s R^2 is extremely high and I don’t believe this level of trend strength can be maintained at these levels of elevation for a very extended period of time.
Significant inverse correlation to relevant index ETF (...
Super Micro Computer Inc. (SMCI) is about to complete a 10 straight green week streak if the 1W candle closes bullish today. This is a highly impressive feat that not only it hasn't done before but only a few stocks have managed to do historically. On the other hand, this may be a signal that yet again, SMCI is time to take a breather.
Why? First because it has...
The top 4 Tech Charts look strong and bullish, InfoSys being the weakest of the bunch and chugging along.
As long as the prices stay above the Green Trap Zone we are Bullish on these 4 symbols.
Boost Ideas If you like and lets Go !
Soon, Fiserv should reach the magenta colored zone between $134.09 and $140.81 and complete wave (B) in magenta – there is only little difference in altitude left. Once this top is placed, the share should turn downwards, heading for its next goal: the southern magenta colored zone between $108.96 and $89.26, where wave (C) in magenta and wave 4 in green should...
Booking Holdings has booked a room in our dark green target zone between $2939 and $3096 and should reach this destination via wave b in gray. During its stay, the share should establish the distinctive top of the current movement and then leave its dark green lodging on the southern side, heading for the support at $2456. However, there is a 30% chance that wave...
(Un-)fortunately, we won’t rehash the story of Scarlett and Rhett, which took director Victor Fleming nearly 4 hours to recount. We will rather talk about Snowflake, which currently seems to be struggling though a snowstorm, fighting on toward the resistance at $203.62. We expect the share to gust above this mark to expand wave x in magenta before a counter...
Block hast just finished wave B in turquoise and is in the starting blocks to take off. Soon, the share should gain enough upwards momentum to make it above the resistance at $89.97 and even further from there. However, there is a 39% chance that Block could break away and slip below the support at $51.16. In that case, the share should develop a new low in the...
Broadcom is amusing itself in the playground consisting of the green zone between $648.08 and $577.41 and has lately been lingering mainly at the 78.60%-retracement at $621.54. However, soon, the share should switch over to the red slide leading below the support at $572.10 and into the lower green zone between $531.78 and $465.02 to finish wave 2 in green. This...
E-mini technology sector futures price recently broke below Cosmic Gravity "Support Channel"(😎) and failing to break back above this level dropped back down (🧐). A next possible long entry position is now at "S6 Line".
Hi Traders,
On daily timeframe market has touched 50% Fib level, Jackson Hole Symposium starting Thursday. we might expect some volatility in the market
Future us running in negative - Market might gap down when open
As the growth sector #XLK and #NDX makes lower lows there are spots of divergence displaying, which could pose as some upward impulses this week. In that case it could help to normalize a temporary ‘higher low’ in terms of the holistic outlook.
My TradingView charts (found at #bsdvs23) have mostly been bearish across the board with a few ‘potential’ bullish...
As projected (in previous idea post), the NASDAQ futures spiked down to (almost) 13K and then bounced immediately. This happened on Thursday after the open initiation of the Russia-Ukraine global event. The following day continued the recovery rally.
The Weekly candlestick is now very bullish looking as there formed an intraweek ultra long tail of almost 1K index...
We have a Bearish Engulfing on the Monthly along side with extreme amounts of RSI Bearish Divergence and soon the MACD will be crossing bearishly for the first time since 2018. In the past the monthly bearish crossing has lead to at least a 30% correction back down to the 55 Month SMA.
One last thing to note is that if this Monthly Candle continues down a little...
The NQ1! appears to have come to a significant milestone, one that has been repeated 4 times since 2006. And each time, IF you had bought into the NASDAQ / Technology ETF, it would have been significantly wonderful in the next 3-4 years.
It appears that this milestone had just happened again two days ago. Now, what does this mean?
I will leave that to you to...
