10/4/21 low in play, below resistance and in Gartley pattern downtrend.
... short straddle. Comments: Locking in some realized gains by rolling the 151/160 and the 157C/158P inverted out to the March 18th 160 short straddle. I had to do this in separate rolls, receiving 7.19 in credits for the roll of the 151/160 and 3.67 for the roll of the slightly inverted 157C/158P. I've collected a grand total of 22.07 in credits...
... for a 2.33 credit. Comments: Selling premium in XLK, which is closely correlated to both the broad market and QQQ, so it's kind of QQQ "lite" (a QQQ 16-delta short strangle would tie up about twice as much buying power). 2.33 credit on buying power effect of 23.28 (on margin). 10.0% ROC at max; 5.0% ROC at 50% max.
... for a 2.58 credit. Comments; Adding to my QQQ "lite" position here. Will look to take profit at 50% max, manage sides on approaching worthless/side test. I can also conceivably mix and match sides to take profit and reduce risk, since I've not got four legs on (151P/158P/180C/185C) or take profit on the entire four leg setup at 50% max.
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...
I like the setup I am seeing for resolution to the upside for semi-conductors here. I do have one concern but I'll address that shortly. On the left is a weekly candle chart of SOXX the iShares semi-conductor ETF. The upward trendline from the covid-crash trough is firmly intact. The 100 Day EMA has proven to be key support. The index started consolidating the...
I believe tech will remain strong, and this trade also has a large margin of error. Opened for a 0.40 Credit. Looking at the chart, this trade lines up perfectly with a support zone, in addition QQQ is still trending upwards on a quarterly basis. This is a bit of a reversion trade in the sense that I am taking advantage of the pullback to collect adequate...
MSFT has tested and bounced of the 100sma 9 times, since September 2020. In all of the 9 tests, RSI was in the 30s, but not oversold. It is currently at the same level. Besides the multiple tests of the 100sma, we have three tests of the bottom of the horizontal range (drawn with purple horizontal lines). We could potentially see a fill the gap situation...
... for a 1.21 debit. Comments: Filed for a 2.42 credit (See Post Below), out today at 50% max. 1.21 ($121) profit. Nice way to end the year.
... for a 2.42 credit. Comments: Selling 16 delta premium in the QQQ-"lite" exchange-traded fund, XLF (rank 71/30-day implied 29.7%). 2.42 max profit on buying power effect of 21.63 (on margin); 11.2% ROC as a function of buying power effect; 5.6% at 50% max. Will look to take profit at 50% max; manage sides on approaching worthless/side test.
Bull Scenario AMD triggers Bull to Mark Up into our Bull Targets AMD finds support at our Bear Trigger to Mark Up into our Bull Trigger Bear Scenario AMD triggers Bear into our Bear Targets AMD finds Resistance at our Bull Trigger and Marks Down into our Bear Targets Neutral Price action stays within our Trigger levels (inventory rebalance) Side Note Each...
Sell your APPL now, it will drop another minimum 8% or more, heading 146.25 :(
Short Term view in XLK suggests the rally from October 5 low is unfolding as a 5 waves impulse Elliott Wave structure. Up from October 5, wave ((i)) ended at 153.71 and pullback in wave ((ii)) ended at 149.60. Internal of wave ((ii)) unfolded as a zigzag structure. Down from wave ((i)), wave (a) ended at 150.53 and wave (b) pullback ended at 153.15. Stock then...
I am currently watching Twitter ahead of the upcoming earnings. The last strong rise in 23 bars was consolidated for a very long time. The extended Fib would set a target zone of the psychological 100$ mark, which I think is realistic from a purely market-technical point of view. We are currently sitting on a cluster (58$ mark that has held again and again +...
(Opinion only)
See day chart for this ETF will it breaks down ? your guess is as good as mine
Channels that I see with the SPDR select technology fund. It was pretty well contained in this channel since 2008, but as you can see the COVID rally has pushed it way above. Right now it is in a larger parallel channel that has its mid line (red dotted) just above the major peaks since 2015. Will this channel hold Tech? HArd to tell, but so far it has been strong...
A mix of growth and cyclical sectors topped the list this week. Defensive s all sectors declined for the week after topping the sector list last week. Energy (XLE) held the lead among sectors for the entire week, despite a pullback on Thursday. The sector completely recovered from last week's decline and marked a higher high this week. All of the cyclical and...