JakeWuMarketResearch

JakeWuMarketResearch Updated 

It is always amazing to see how the market ends up being at extremely important technical levels into big weeks like the week coming up. SPY is trading at the previous support zone from before the bear market started which ended up being a reversal zone in August and price is now here again. With CPI data, the FOMC decision, and OPEX into the end of the week, this...

JakeWuMarketResearch

The 20-week SMA is starting to cross above the 50-week SMA. The last time this started, there was a massive uptrend to new all-time highs.

JakeWuMarketResearch

So far this week, there has been a strong upside move, breaking the long-term resistance trendline that originates from March '22. If the weekly candle can close above this level, watching for a test of the March '22 pivot VWAP currently at the HKEX:32 area.

JakeWuMarketResearch

Price is nearing the all-time high anchored VWAP but not out of the woods until a break of the top of the band which is right at HKEX:2 ,300 currently. For a true breakout, watching a weekly close above the top of the band.

JakeWuMarketResearch

Ascending triangle on the daily chart w/ a strong setup for more upside contingent on a daily close above the ascending triangle resistance at $87.20.

JakeWuMarketResearch

Price is starting to stall at the multi-year S/R flip zone which was originally support back in December of 2021 and then resistance in March of 2022.

JakeWuMarketResearch

Previous resistance has flipped to support over the last week as price finally closed above the range that has formed over the last 5 days. A close above the April 4th highs could trigger a larger and more aggressive move up to the $348.50 gap above.

JakeWuMarketResearch

The Q's are trading at a crucial status quo area as the weekly candle is starting to look strong into Friday's close, assuming no crazy downside price action tomorrow.

JakeWuMarketResearch

Tesla continues to hold at the January low VWAP zone which was a reversal point back in mid-March as well. Inside day going into Friday.

JakeWuMarketResearch

Today's candle is looking similar to the retest of this VWAP zone on March 28th which is shown by the two arrows.

JakeWuMarketResearch

Bitcoin is currently breaking through the all-time high anchored VWAP zone with a big volume gap above up to around HKEX:38 ,250- HKEX:38 ,750.

JakeWuMarketResearch

An S/R flip is taking place on the weekly chart with a bull flag in the making as well. The anchored VWAP from January '21 pivot is above around $32.25.

JakeWuMarketResearch

Nice bounce off the volume shelf the last two days with the right shoulder of the inverse head and shoulders forming and the price gap that fills above at $181.28 and the swing high anchored VWAP right around $180.50.

JakeWuMarketResearch

Price is trading right around the all-time high anchored VWAP which has been an important reversal point in the past. Lower lows still in place.

JakeWuMarketResearch

A solid bounce over the last two days after testing the bottom of the resistance zone.

JakeWuMarketResearch

Price is currently at previous support w/ a MACD cross to the downside today. MACD showing negative divergence as well with price.