AAPL got sold hard to take it previous low but it recovered quite quickly setting up a nice bullish divergence on the hourly chart. Does not mean we are off to the races, but if overall market cooperate, there is some pretty nice upside here. Immediately, is the 165 -167 area and if that is captured then 171 area as a potential target.
This morning I wrote about the need for GOOGL to get above the 1070 area. AS I was writing, little did I know that it would fail just short of the 50% Fib. IT cam back down really hard almost to the 1618 extn target. IN the short term at least, above 1032 or so will be worth taking a look but above 1062 or is when it might start getting its mojo back.
We came 4 points off the Feb lows. Now, whether this is a retest or a fake before breaking it only time will tell. For now we bounced off the 1.5 extn target. I had earlier thought that the 2559/2544 area might hold. Anyways, for now ES has been within the down trend channel but today it broke down. Whilst the this is still sell rallies till proven otherwise, that...
NO real change expect for theta burn. Still long bias remains. One fib level at a time.
GOOGL failed at FIB support as mentioned in the previous update
I had mentioned in the previous update that CL needed to get above 51.4 to try for higher prices. I had expected a move up at least to the .618 fib but it had a road block at the .5 fib. Back straight down to a 1618 extn. For now, it needs to get above 51.12 or and then take it from there. the 49 level below still remains a potential target.
Was this a stop run? we wont know for sure till we get higher. For now, I would go on a limb and say perhaps a temporary low is on. If this is a stop run , then this needs to work higher to take out bear stops. With so many people expecting a collapse to 2480 I am not convinced it will happen now. Pehaps it need to climb the wall of worry. Fo rnow, it needs to...
This was my comment this morning. On Dec 12 I had in 2 charts pointed out a potential route to a squeeze or a breakdown. We got the latter. Here we are bouncing of some fib support. Question is, do we continue lower sub 2600 or higher. Given how whippy the market has been, I am just going to say that as long as it stay below 2652 or so, better to look for short...
This morning I had mentioned that CL got the expected smack down. The only question I had was to what level. I had mentioned the 50.85 -95 level.There was a typo it was supposed to by 50.05. That is exactly where this held. Now ? For starters it needs to clear the 51.43 area to begin considering a long. In any case only above 52.40 or so does /cl then begin to...
Did not quite reach 53.5 as expected but 53.30. Now lets see whether this PB is to shake some weak hands or is there something more to this. 50.8. - 50.9 should be telling (if it gets there)
On Dec 12 I had in 2 charts pointed out a potential route to a squeeze or a breakdown. We got the latter. Here we are bouncing of some fib support. Question is, do we continue lower sub 2600 or higher. Given how whippy the market has been, I am just going to say that as long as it stay below 2652 or so, better to look for short opportunities. There are targets...
This morning's call was quite prescient. Bullish divergence and a bounce at 183.94. Earnings next week. Could that be the catalyst?
It looks deathly but is approaching a number of fib support areas on the Daily time frame. the 175-183 presents a low risk opportunity for a bounce to 193 -200
AS mentioned in chart last night, buy above 51.5. This looks good till at least 53.5.. OF course, no news flow affecting detrimentally.
A hold of the 270-271 area should be a good buying opportunity
A hold of Fib confluence in the 66-69 area should be good fro a move up to the 1112 area.