GLD weekly - gold likely correction/end of rise for now GLD is in a symmetrical triangle and is close to major resistance. GLD had 10 weeks up move and is due to correct. Volume is dropping which is not the best option with such a strong move-up. Volume is not confirming price action. GLD is above all significant MA which is bullish and a sign of a strong bull...
LSCC is a bullish/strong fundamental stock therefore would be tarded only on a long position LSCC daily is in a symmetrical triangle which if breakout accused would be pretty bullish. The issue is on 18 Jan we had a shooting star reversal candle, and then the next day a red candle to confirm it which is bearish. LSCC is above all major MA which is...
BBY is a bearish/weak fundamental stock, therefore, we would trade it only in a short position. BBY daily is in some kind of rising wedge which is a bearish pattern. The price is at the resistance line which could indicate imminent correction. RSI is in oversold territory and has bearish divergences what is bearish. MACD histogram tick is moving higher and the...
AMD is inside the down channel and last 5 months AMD is consolidating at the same price. Inside the channel, it formed a symmetrical triangle. Friday's move was a strong green day with decent but not great volume. This leg-up is confirmed with volume especially the first two days of it. Price manages to stay above 8 and 50 days MA which is bullish, and only...
EURUSD is inside a rising wedge pattern on the upper part of it. There is no more room for EURUSD to go up without consolidation or correction of the price. It is above all major MA which is bullish. RSI is overbought and has strong bearish/negative divergences which indicate on likely drop in the asset. MACD histogram and lines are bullish, but it also has...
AAPL is in the down channel and at the moment right at the resistance. AAPL bounce back from the low to the area of FIB 0.5 retracement just as was expected but now did find very strong resistance at the blue trend line and 50 days MA. Next week's reports and we will see how did they do last quarter so please be aware not to trade over financial reports. The...
DXY is in a big falling wedge pattern which is one of the most bullish patterns to trade in the market. On Friday DXY created an inverted hammer reversal candlestick pattern which is bullish, and we will see moves from today will there be confirmation of it or not (on the bullish side)? RSI is way oversold and had strong and several months-long bullish /positive...
SONO is bearish7weak fundamental stock therefore would be traded only on a short position. SONO after a huge drop started to consolidate in price but didn't move too much and now it is forming a bearish pattern rising wedge. Price is ready for a strong move because above it is BigRed and the trend line which will act as strong resistance, and below are other MAs....
DELL is a bearish/weak fundamental stock therefore would be traded in on a short position DELL is still inside a symmetrical triangle about which we are talking for some time. Last two days price did drop out of the triangle but not below our minor line which is the trigger area for the position. DELL is below all major MA which is bearish and also 8 and 20 are...
Ethereum daily was in a big symmetrical triangle after which its breakout was out of the pattern. It's cleared 200 days MA and now found resistance at high just days before FTX collapse. It is above all major MA which is bullish. Volume is not best but it is confirming this price moves out of the symmetrical triangle. RSI is way overbought and it had very...
Bitcoin daily - continues its move to the up. After the pump above the falling blue trend line it moves above BigRed and then found resistance at a high just before FTX collapse. After a few days of consolidation, Bitcoind broke above those levels on a strong candle but not strong volume. Important thing is that most of this move (75% and more) was from stop loss...
XLF daily is forming two major patterns. Both are in their extreme. The bullish one is inverted Head and shoulder and the second is bearish and its rising wedge. Price did fall this week as we expected in the last analysis and did find support at 20 and 50 days MA and at the trend line and did bounce from those lines. XLF is above all major MA which is...
QQQ daily is inside a falling wedge that is forming since the start of 2022. Price retrace at FIB 0.618 twice during this week. Now that FIB retracement and falling trend line will act as major resistance. It is above 8, 20, and 50 days MA which is bullish but still it is below BigRed 200 days MA which is bearish. Volume was pretty big for a strong move up...
SPY daily is in a symmetrical triangle. SPY is developing two patterns at the same time. The bullish one - a symmetrical triangle inside in a bigger falling wedge pattern and the bearish one SHS (Head and shoulder) pattern. The last day of the week finished a very bullish finishing day at major resistance. SPY is at major resistance at BigRed 200 days MA and...
NUS daily - even though NUS is above BigRed (200 days MA) is close to a breakout of a big rising wenge which is a very bearish pattern. Volume is neutral to bearish because this whole leg up is on volume below 20 days average volume. At the moment NUS is above all major MA (8, 20, 50, and 200) which is bullish. RSI is in the mid to oversold area which could...
BSM daily - is on side of the falling wedge pattern which is a very bullish pattern . The last several days' volume decreased while we are at BigRed (200 days MA) which indicates a strong move. BSM is below all major MA, while volume is pretty low the last few days. RSI is neutral with slight bullish divergence , meaning price is falling while relative strength...
SPY daily is at major resistance both on daily and weekly chart. Price is at BigRed (200 days MA) and at falling upper channel trend line which two lines will likely act as strong resistance. SPY need same great news from earnings to forget all issue about inflation and to start moving up in new bull market after year of correction. SPY is also in a bearish SHS...
NVDA is bearish fundamental stock and therefore would be traded in on a short position. NVDA daily is a big symmetrical triangle that lasts from August 2022. Price found resistance at the upper blue dotted line and fell. Until the price doesn't break out of a symmetrical triangle it is neutral with the possibility of a short position at the moment. Volume did...