As company earnings decline and forward guidance becomes pessimistic, Nasdaq 100 has room to go back to 9000-8700. Big tech companies have already started reducing their workforce, and more layoffs may come next year. The 200ma offered support after the first leg down, but now it looks like it might give way. RSI and stochastic are bearish. Now is a good time to...
A measured percentage move indicates a few more months of capitulatory action As we saw earlier in the year #crypto equities have been good leading indicator for #BTC and the crypto space
I still see downside in 2023, the chart is showing a similar pattern to the DOTCOM BUBBLE. I just see bear market rallies and some considerable time until we see a major trend reversal. We have just finished the 2nd BUBBLE which was led by the creation of BITCOIN which was born out of the Financial Crash in 2008. The age of low interest rates are also over and...
An interesting set of events just occurred in the NASDAQ futures. In early November, the NASDAQ (and most market indices) spiked in a bullish rally, only to find a resistance at about 12,000 in mid-November. It then retraced to test the support at 11,560. While it bounced off the support then, there was a momentary spike down to 11,528. This is the significant low...
Noted that Coinbase COIN is in some sort of technical trouble. Based on downside projections, the downdraft is technically aligned and sound, with a target of 23.36, by mid-December. This is a 50% cut in stock price from last Friday's closing. An earlier breakdown of the triangle, and the more recent failure of the 2022 support last Friday suggest more downside...
What Is Sector Rotation? Investors are always looking for opportunities to boost returns and reduce risk in their portfolios. One way to do this is by understanding and utilizing sector rotation. In simple terms, sector rotation is the process of moving money from one sector to another. In order to take advantage of positive market trends investors will want to...
Trade Idea: Buying NASDAQ Reasoning: Inverse head and shoulders on NASDAQ Entry Level: 11773 Take Profit Level: 12900 Stop Loss: 11523 Risk/Reward: 4.54:1 Disclaimer – Signal Centre. Please be reminded – you alone are responsible for your trading – both gains and losses. There is a very high degree of risk involved in trading. The technical analysis...
Nice channel here looking for Break to the upside of 120 or Breakdown below 105.
EARLIER, i had posted saying if the us markets goes further down what will be there point. (check the link section) lets go on further, recession means what earned everything lost, reached its breakeven point. what profit gained has gone away, with net having no loss and no profit. FIBONACCI ANALYSIS: Fibonacci describes this statement in a very beautiful...
Now that Elon Musk’s buyout of Twitter has been completed, and the company has been taken off the trading market, what comparable stocks can traders look to trade now? Of course, there are other social media compatriots that traders could turn to, or even other companies of a similar market capitalisation that are in takeover talks and abiding by a similar...
Applied Materials has recently bounced along with other technology stocks. But some trend followers may look for it to roll over. The first pattern on today’s chart is the line running along the highs of January and August. The chip-equipment stock is approaching that potential resistance area. Will it roll over again? The most recent price action may have...
Surely, it has been a roguh ride for the Apple stock but things start to look rosy. Our primary expectation centres around a continued lift-off, so that the support at $133.20 will be further left behind. The most important step will, however, be to overcome the red zone between $159.74 - $171.30, as the bears have a 40% chance to pull the price to new lows from there.
Snap Inc (SNAP) hit new lows last Friday, completing a disastrous -90% drop from its All Time High (ATH). The stock market fundamentals couldn't be more negative and is the reason why the majority of the market is expecting the price to drop even more. Few are thinking to enter Snap here and who can blame them? However based on Dr. Jean-Paul Rodrigue's infamous...
Just a quick note that the recent NASDAQ (bear) rally appears to have run its course; on the 1H chart, it had a series of Lower Highs and Lower Lows (white lines), and appears to have completed the trend change pattern by breaching the support from the first Lower Low (red line). Given this pattern completion, a typical breakdown of the critical support would see...
The NASDAQ futures are ominous... for more downside movement, given that the first projected downside target has been hit, and exceeded. The NASDAQ weekly chart is bearish looking, with technical indicators supporting that view. Still aiming for <10K (9600). The daily chart has slightly better technicals on the MACD, but it is probably an artefact of the...
The Nas100 is at an important cross road after the close of the monthly candle of September 2022. The manner in which the monthly candle has closed may indicated that the Nas100 just gone from bull and now into an official bear market according to price behaviour. We can also see that price has created a change in market structure by means of a new low, which...
GOOG, after doing a bear flag, was since rejected by 102 volume profile zone. It has entered into a low volume space & the next volume support level at 88.80 will be fast unless GOOG recovers 102 after Thursday’s CPI data. Some earnings report from banks this week are also catalysts. A small oversold bounce expected this week but may not last. Not trading advice
AMD formed a H&S topping pattern & has since broke below 100 psychological level & the neckline. It wants to retest 75, the neckline of a 2020 H&S that was bypassed because of the tech bubble. If the 75 neckline does not hold, the measured move may see a low of 49 or even a little lower.( due to the bigger H&S from ATH) However, it will be good to start averaging...