Over the next week i think Spy and QQQ will both Test their 50sma.
I dont think that will be then end of the selling but you always want to keep a heads up for a major dead cat bounce at the 50.
Heres spy on The 2hour chart as you can see it bounced off trendline support here on this ascending broadening wedge. At 494 is a gap and 20ma, that will be the...
SPY touched the bottom of the uptrend line.
Looks healthy and if NVDA has good earnings tomorrow, SPY will reach 510
I have a feeling 510 is the target for this year and from there my outlook is bearish.
IF NVDA fails to deliver, then 480 would be my target
the detail is shown in the above Chart.
I made this Idea based on Golden Level in Fibonacci tools together harmonic patterns .
Say BYE To Sellers Bear.
Say Hello to Buyers Bull riding the Golden Shark.
SMH just hit a Golden Genesis fib at $209.43.
That fib is reinforced by a Covid Stimulus fib.
This is a major landmark in this ETF's history.
$ 209.43 - 212.89 is the immediate resistance.
$ 236.36 - 238.96 is the next major resistance.
$ 191.21 - 191.90 below is the first good support.
It is PROBABLE that we orbit this zone for a while.
It is POSSIBLE that we...
On this 15 minute chart, TQQQ is in an anchored VWAP band and volume profile breakout.
Near to the end of the regular market, the RSI indicator ran from deep oversold. After hours,
NVDA reported a sizable earnings beat. The AI machine learning and backtesting indicator
forecasts and uptrend continuation. I will get call options targeting $58 for...
I covered all puts as the vix printed the high this morning and have taken a small 25% net long on the view that this morning low was a minor wave 4 within the 5th wave diagonal . the dow came within 25 points of the min the target was 38950 to as high as 39200 focus on 39100 . today drop is the first of the cracks in the bubble phase . 10 20 and 5 day...
IWM saw a very strong bounce with triple positive divergence.
After a very unhealthy rally in the last couple of weeks, we have seen IWM struggle to go green on the daily.
With the RSI extended like this we could tap the trend line one last time before the Fed pivots and we rally into 2024. Then Crash.
IWM is a great representative of the true economy rather...
... for a 397.94 debit.
Comments: Re-establishing here in the Q's with a +25 delta monied covered call to take advantage of call side skew.
Will look to add at intervals, dispersing risk across expiries, and generally take profit at 50% max and/or roll out the short call on test.
Max Profit: 7.06 ($706)
ROC %-age at Max/50% Max: 1.77% at max; .89 at...
SPY took a massive fall from slightly above 500 and dipped back to 494s right before the NVIDIA (industry's biggest and most awaited) earnings. NVIDIA killed it and set a concrete expectation from the AI and the world as we see it. AI is the future and not just companies but countries need to invest in it. Having said that (by the CEO of NVIDIA, not me), that...
AMEX:SPY February 23, 2024
The gap at open gave us a chance to go long above 503 levels as expected.
I closed the trade at 507.
Today taking the rise 493.56 to 508.49 holding 505 more upside possible.500-501 becomes crucial now as moving averages of 50,100,200 are in that area.
As of now for me holding 490 low target 540+ in daily is still going...
BOIL in the past month fell from a head and shoulders pattern on the 15 minute time frame
into a trend down which leveled out into a double bottom. Supply is in a draw
down right now as might be expected when gas production is diminished in the middle of winter
while demand is rising. The Economics 101 expectation is rising prices on the futures market.
... for a 172.42 debit.
Comments: While I'm waiting for a July contract to open up in broad market instruments (IWM, QQQ, SPY), shopping around the ETF space for premium. Relative to broad market, SMH IV isn't horrible (the 30-day is currently at 29.3%). Selling the -75 delta call against long stock, to emulate a 25 delta short put and to take advantage of...
... for a 2.07 credit.
Comments: 30-day IV at 27.8%. (Higher would be better, but you can't have everything).
Collecting 1/3rd of the width of the wings in credit. 2.07 credit on BPE of 3.93; 52.7% ROC at max; 26.3% at 50% max.
As usual, will generally look to take profit at 50% max; adjust sides on side test. This is probably my last trade in the March...
Complimenting the possible topping pattern in NVDA, NVDS is now at major supports.
As a general rule of thumb when a 1.61 of the last upswing breaks the 2.20 zone is a good target. It can go a bit further but this is where the trade becomes more risky.
In times the 2.20 acts as support the 1.61 is retested and often the 1.27 spiked out.
Note, this happens a...
US Court Paves Way for Spot Bitcoin ETF in Grayscale Ruling
Ruling by appeals court overturns decision by SEC to block ETF
Bitcoin surged by as much as 6% on release of opinion
Uran sieht vielversprechend aus. Das erste Ausbrechen mit Retest ist schon passiert. Tendenzwechsel nach dem Basement mit anschliessendem Breakout.
Ein zweiter Retest bei 19 könnte jedoch notwendig sein bevor es richtig nach oben geht.