DaBears1

DaBears1 Pro

18-20% Move up or down this week. Great Opportunity to bounce back this week... But the 35.73 Line needs to hold up.

DaBears1 Pro

Trend lines from 2009 Bottom Gap fill at 4000 and I think we'll meet the 200 MA at 3915 Major shutdowns and accelerated Covid cases could mean we keep on falling. Taper tantrum or Illuminati conspiracy?

DaBears1 Pro

If the market swings lower then I'm looking to add to my position at $181, $177, and $172. An open on the upside I'll try and catch a wave up to $215 and add some puts to cover a negative earnings report.

DaBears1 Pro

IF the run is done then this is what I expect to see for August. Fundamentally, they haven't come out with a cancer cure (yet) so I'm thinking this turkey is cooked. Earnings out tomorrow so we'll see when we'll get back to reality.

DaBears1 Pro

No volume, but it could get pumped up again. Then who knows how far up it goes, especially with Futures on the rise this morning. My guess is that we see $40 by June 10th.

DaBears1 Pro

Just a thought - H&S correction into main Support (Blue Line) indicated by the blue highlights. It could happen this week or towards the end of May, early June. This week there will probably be support 42-43K and an attempted rebound that will sputter out under 50K if I'm right.

DaBears1 Pro

Looks like it can break up or down tomorrow. With low volume support and inflation concerns, I'm thinking it'll break down along with the rest of the market. Up to $181-182 and down somewhere between $161 -167. If it breaks down, I'll be looking for an opportunity to buy somewhere below $144.00.

DaBears1 Pro

A look at the SPX over the past 34 years and its correlation to Fibonacci and the major market events.

DaBears1 Pro

ABCD correction to 47K with the potential to return to main support of 30K by end of the month.

DaBears1 Pro

10 yr. T-Bill auction tomorrow may determine - Up or Down. If it's anything like last month's 7 yr. auction then it'll be $Hit Show. Auction closes at 11 AM for the non-competitive auction and 11:30 AM (Eastern) for the competitive auction. Look for the signal and make your picks wisely. Also, Fiscal Stimulus should be passed tomorrow and the stark reality that...

DaBears1 Pro

$74-75 tomorrow looks pretty likely to me, but there should be heavy resistance to move beyond. My guess is a quick retreat to support around $65. If it fails to break $75 then it'll continue into an ABCD correction with the potential trendline and retracement levels marked. Good luck!

DaBears1 Pro

Channel Descent, Support Targets, and Price Target Range prediction Current S&P 500 PE Ratio: 40.03 -0.01 (-0.03%) Dot Com Bubble PE Ratio = 43.00 Long Term Mean: 15.88 Long Term Median: 14.84

DaBears1 Pro

* Stock is up 1100% this year. * It's trading at 27 times sales (not earnings) * Average price target is $28 and is trading above the high estimate of $61 (low of $9.50) * it isn't run by Elon Musk. $38 price is still generous, but like John Maynard Keynes said, “the markets can remain irrational longer than you can remain solvent.”

DaBears1 Pro

It looks like the end of the 5th Wave, where Wave 1 was extended and 3 & 5 made up .618 - Wave (5) is a contracting ending diagonal and It is bounded by two converging trendlines (red). A swift and sharp reversal usually brings prices at least back to where the diagonal began and usually far further. The reversal usually takes anywhere from one-third to one-half...

DaBears1 Pro

Down December... January too?

DaBears1 Pro

Down December is looking up for the VIX.

DaBears1 Pro

Barring no stimulus is passed and the market doesn't crash then I see it bouncing somewhere between $65 - $66 with resistance at $68, 73, and $76 moving back up. A breakthrough would probably mean $85 as a first target.

DaBears1 Pro

OMI is consolidating again with support. Look for an opportunity near or at the 50MA but set a stop loss below the 50 as it may want to move to the redline support before making a move up again.