Today a gap up on positive earnings and revenue, Today an ascending triple top breakout on the point & figure. This is a health care stock (timely sector) with superb financials. This is not financial advice, but if I were to load into this stock, I would: a) look for a pullback to 381.43 (potential VPOC support) for potential entry b) Look for a further...
No thesis here beyond: * I'm bearish on the overall stock market, and * AMEX:XLF seems to be testing the top of a bearish trendline. I am not taking a position on this, but I look forward to seeing if it's down by mid-February.
- AAPL short under 170 long over 170 - Regular trading hour for AAPL will be key to the direction, lots of calls bought for 170 - SPY double bottom today key level of support - QQQ bounced off key support at 315 - AMEX:KRE made new lows XLF still weak
- FOMC Summary: 0.25bps hike today, Powell saying no cuts this year may made the market a bit red but he said that last time too. I personally think it was because market participants this time wanting to hear a pause due to it being so price in but he didnt say any of that so market went down. - QQQ bounce off of Key support yesterday but broke below today - ...
looking for price action to stay within the 2020 trendline and rise from C wave to D leg, at that time many will think of selling, but its building a nice base. this is actually a bull flag in disguise.
In this update we review the recent price action in #XLF and identify the next high probability trading opportunities and price objectives to target
Bank Earnings have been great! Though, The market wasn’t overly thrilled about it. We believe this is due in part to the uncertainty it caused regarding the fed rate path. The bank failure(s) that occurred, and fear of continued failures, cast doubt on the feds ability to continue to raise rates. This elevated markets, in our opinion, in conjunction with...
- NASDAQ:AAPL trading right under resistance, about to break out of the tightening range - AAPL earnings date May 4th - NASDAQ:QQQ super tight tons of inside bar, big tech earnings next week, NASDAQ:TSLA this Wednesday and NASDAQ:NFLX tomorrow - Money rotating around the market, when QQQ consolidates money flowing into AMEX:SPY like sectors in ...
What I think is going on - the path to 4200 still very possible this week or next with the economic numbers. This is a quick look at SPX, IWM and XLF Good luck and see you during the week!
PNC technically looks broken and on the verge of more downside. Can PNC pull a rabbit out of the hat this banking earning cycle? Or will the downside pattern prevail?
The recent selling volume of XLF is surpassed only by the COVID lows of 3/20 (purple circles). XLF currently is showing a little flag at a Gann confluence point (right yellow circle) and at a pivot point from pre-COVID (left yellow circle). RSI trend is negative, although it has retraced off an RSI(12) oversold level. If XLF falls from here, it will have formed a...
- SPY QQQ gapped up again but ended up closing within todays trading range, unlike yesterday bulls have a strong follow through after open. - PCE Data tomorrow morning 5:30am PST - QQQ closed around key daily resistance. - End of the quarter and month rebalancing tomorrow will bring lots of volatility - Will XLF / KRE join team bull or QQQ / SMH join team...
- SPY and QQQ have been very choppy due to sectors rotating around may potentially continue unless we start seeing XLF forming daily uptrends and joining team bull. - Or we see XLF / KRE go sideways and QQQ and SOXX/ SMH join team Bear. As of now there are zero red flags for QQQ and SMH daily time frame so i am slightly more bullish in my intra-day scalp...
- $SPY $QQQ bear had all its chances to bring QQQ down after a bear break this morning out of the tightening range we had in the last 4 days but bears couldn't follow through. - Want to see QQQ Bulls gain back its hourly uptrend and break above 308 area of resistance. - want to see XLF / KRE bounce for SPY & SPX to break out of its equilibrium bull. of course...
- $QQQ about to break its tightening range, this will be very important for TSLA, - currently TSLA does not have enough relative strength to hold up if QQQ breaks bear. so it will likely break bear with it. - Bullish pattern: Daily Inverse H&S Weekly Cup & Handle - XLF / KRE gapped up nicely but bear took over after cash open.
This financial has been holding up very well considering XLF & financials have been obliterated. One of the very few relative strength financials holding above key daily moving averages. If financials see a technical bounce this stock will likely breakout to the upside.
there is a bearish abcd pattern inside a bullish cypher set up. im shorting the c leg of the bullish cypher (d leg of the bearish abcd pattern) to the D leg of the bullish cypher which I have around 19.59
- QQQ Equailibirum key break will be Monday which will determine which way SPY is going to move. - SOXX / SMH turning from lead bull into lead bear today, weakest sector since Dec 2022. May drag down QQQ if it continues. Will short this sector if it continues on SOXS. - SPY bulls want to see a hourly uptrend form, Bears want to see QQQ bear break Equilibrium...