Looks like price can break up out of down channel. First Resistance at 4220, then stronger R at 4300. Target in the box. 200 pips = 5%.
Been oversold badly for weeks. Time for relief rally; a technical breakup. Once confidence returns the bullishness could get quite furious.
Maybe you don't feel real good about buying now, that's reasonable. You don't want to...
Extreme risk for any position now. Should this rally fail and reject from upper TL the fall will be steep and swift- capitulation, a fifth wave down.
Capitulation is the intense fear and dismay of investors who realize too late that their stonks ain't gonna hunt.
Just when you think, "Finally! It's going back up!" Suddenly it isn't.
Then the hammer drops... the...
Could get another 100 pips to downside just looking at the TL. Notice how the long wicks in prior lows form an 'ultimate tl' and after close 5/11 how price rests on the red centerline of pitchfork. NOT sayin it will go there, just watch and wait to see if it does, would hate to get caught long and get mauled, eh? IF it crushes down to target price 3842 will...
Pattern reminiscent of the Christmas Crash 2018. Although seasonality usually favors price in April this was the Cruelest month ever.
Dec was an unseasonal bear four years ago, a crash can happen at any time. Worst selloff since COVID today, more coming IMO.
This big selloff day is unlikely to be followed by another, but anything is possible. The whole thing...
Buying an ER play on Apple. Opened three Apr 29 155p / 162.5c net debit 5.55. Expect calls to profit but who knows, its nuts.
IF it tanks the puts will pay well IMO so i went a bit farther OTM on the short side. Stock trades at 160 on opening. Moving up now.
Wish us better luck than Meta! LOL
Note the big red candles in prior selloffs of this trend each followed by a deep flush with reversal leaving a long wick. Crashing.
Big ERs Weds FB and Thurs AMZN, AAPL all EOD after the close. Extreme risk in any position now, highly unstable, unpredictable.
Catch this knife at your own risk. Indicators become worthless in a panic. Oversold >> More Oversold....
Measured move coming IMO. Massive tank possible.
Open position, been DCA these 29 Apr puts:
Amazing tankoff today... not holding QQQ overnight it could certainly enjoy a brief bounce to start the session, but;
FB meltdown will tank the techs.
Not sayin this is going there, but it could snap off just like that. Breaking the support TL is a BearMarketSignal IMO. Trade with care, or stay in cash.
'Finishing move' could be Initiation Impulse... BottomFishing can kill you... sucks to be Wrong!
ABC Fib Extension 1:1 at 4255; 1.27 fib extension could give a wick down to 4170 area. Friday's 1k drop in DJI feels like a finishing move.
Left shoulder was 4222, see if we get it Monday.
IF this is an impulsive 3rd wave down, then it's bottomless. Monday likely to enjoy a bounce, ofc can sell more but a bounce is coming.
P/C ratio .72 now; two puts open for...
1:1 > 2:1 > 3:1 rolling downhill at varying angles of descent. ABC Correction to finish off on the 3:1 track. Target in the box.
Offered as alternative hypothesis to my bull case scenarios. IMO can break either way; trade with great caution! GLTA
Chart says it better than I can. Moving up from oversold. NFLX put a damper on it but that won't last long imo. Move above 4480 is bullish, eh?
Take a look at Dec 2018 for the pattern. Double top at a lower high after decline from ATH, before the massive selloff.
The projection as shown is for an EW impulse. Might get it, might not. See what we get! No position...
Chart says all. Strong similarity to structure from March rally. Down channel is an obvious bull flag formation, seven waves down.
A measured move would reach over 4800; A blow-off top?!?
Anything is possible; not sayin this will happen; saying it could. At any rate, indicators gone oversold and a clear EW impulsive downtrend appears at or near completion. This...
Yeahhh... baby dig that rare bird the 7th Elliott Wave. These used to be once in a decade structures, now we got two within six months if this plays out.
It did this in November. This is a distribution pattern. Just when you think the damned thing is gonna bull, it rolls over again... and again... and again.
Monday 18th ought to finish bearishness if this...
Perfect stop up at the Fibo. .62 retracement of correction, a Fomonacci high.
This has been a pure technical rally in face of most worrisome bad news in years.
Meme stonks back in action and FOMO drives higher nearly every session.
Would not bet on getting a lot higher but ofc it can always creep up.
Probably close to a meaningful pullback zone at the .62 fibo from Jan 3 highs. OFC it can always creep higher, been on rally 9 days now, usually means a dip to be expected.
Overbought in every timeframe now.