FiboTrader1

FiboTrader1

According to the SMA's on the monthly chart, we are heading into a recession, however, we are only at the beginning. We are at least 2 months away from a complete breakdown into equities. As you can see in the chart, the blue arrows show where we would align compared to the '01 and '08 recessions. I am still anticipating a drop below the 50 SMA which will confirm...

FiboTrader1

Keeping it simple... Each time the 20SMA has curled over this significantly on the monthly, we have gone into a recession. Expect a steep decline in equities in the coming months. SPY 328 incoming.

FiboTrader1

Found more opportunity to buy puts on COST today as the price started edging closer to the 20 SMA. Still expecting a flush in equities in the coming weeks, so looking at 450 as my price target and an eventual breakthrough to the downside of the descending triangle.

FiboTrader1

NFLX hit my price target of 306 today in a bearish flag pattern. Psychologically, NFLX wants to hit the 277 area for a potential double bottom and to fill the gap from late December, so looking for a draw down in most equities in the coming weeks as selling starts to heat up.

FiboTrader1

SPY is bouncing off support of the channel it's currently in, so looking for a move to 394 next week.

FiboTrader1

CAT is at support and RSI is signaling a buy signal. Purchased calls and expecting gap at $240 to be filled within the next 2 weeks.

FiboTrader1

COST has formed a descending triangle and first target is 450. Once that breaks down, long term targets is 405.

FiboTrader1

I'm still expecting more upside to the 0.5 fib retracement (248), but a move below 224 would nullify this idea. Short term target is 206 and long term target is 154.

FiboTrader1

ULTA hit the top of it's long term channel and bounced off resistance. It also hit the highest fib extension which is the first I've stock I've seen in the last few years to do so. Lastly, it is in an uptrend since October, so expect ULTA to fall below support as early as next week. Short term price targets are 494 and 486. Not financial advice

FiboTrader1

Bitcoin bounced off the 3.618 fib extension, but currently cannot break through resistance (2.618 fib extension) at $25,500. If it cannot break through resistance, expect a retest of support at $15,300 and a follow through to 4.236 fib extension at 9050.

FiboTrader1

Today JPOW scared the bears and the day favored the bulls, but this will only be temporary. I'm neither a bull nor a bear, I only trade what's in front of me. With that said, I see SPY getting rejected at this level and falling back down to the 1.618 fib extension around 385. Any move above 418 would nullify this thesis. RSI is showing the market is overbought and...

FiboTrader1

I bought puts on ULTA yesterday and I wish I would've waited until today. Oh well, they were well in the money, so I wasn't hurting too terribly today. Anyway, after the run up today, I looked at other alternatives for a stopping point. I don't ever use fib extension levels above 4.236 mostly because those targets are hardly ever hit, but after ULTA surpassed that...

FiboTrader1

Here's a 2nd chart of ULTA with less clutter "Bought PUTS yesterdays on ULTA because I knew I'd miss todays morning move to hit the 1.618 fib extension. Today should be the highest point ULTA will hit for some time. Price target was 511 and some change for the smaller 1.618 extension which began on Jan 18 '23 as well as the larger 1.618 fib extension which began...

FiboTrader1

Bought PUTS yesterdays on ULTA because I knew I'd miss todays morning move to hit the 1.618 fib extension. Today should be the highest point ULTA will hit for some time. Price target was 511 and some change for the smaller 1.618 extension which began on Jan 18 '23 as well as the larger 1.618 fib extension which began on Dec. 8 '22 which were both hit this morning....

FiboTrader1

TWLO is in an ascending channel and I am looking for a breakout of resistance to PT of 65 in the next couple weeks to fill the gap created on Nov. 4.

FiboTrader1

Historically, CAT plummets after a dividend when sky-rocketing pre dividend. I'm expecting $10 - $15 drop over the next week and I think earning misses. Price target is the .618 Fib retracement at around $200 in the next few months.

FiboTrader1

Interesting to see people posting negative analysis on this stock and wanting to mislead people into shorting this stock further. Today presents a big buying opportunity before earnings and there's several gaps to fill. Inflation is just another tool in the for market makers wheel house to scare average investors, but do not be mislead by the current narrative. We...

FiboTrader1

I have long been a pessimist of this stock solely because of its high P/E, but after this weeks sell-off of almost 20% it's not a big gamble to go long here. With a gap created, I think it's feasible to see NOW to get back to $470 before shorting again. If you see what I see you know why, but if not feel free to message me and I'll explain further. Trying to...