Madrid

Madrid Wizard

The technical levels show a negative momentum divergence, which usually flags a bearish reversal of the trend. At this point $AMD is making a double top with the previous ATH, and unless it gains traction enough it will tray to break it, the volume is weakening and so the momentum, so this doesn't seem to be the likely scenario. The indexes in general and the...

Madrid Wizard

The technicals for $AAPL heading into earnings show the price level is approaching a resistance area, there are shrinking bands which flag a strong move waiting for a triggering event, negative momentum divergence, negative volume divergence, and Support at 170. It makes sense it will try another big shake of the tree to try to gather "cheap" shares and go for...

Madrid Wizard

$SPY $DIA $UVXY This has been an awesome Santa Claus Rally, it took the index to a record highs after the nightmare before Xmas. What's next? Since there are no straight lines in Wall St. a correction to retest support at the 2,700 levels is just about right. Right at this point in time it is bullish, extreme bullish conditions from the price point of view, but...

Madrid Wizard

$MU had a good run, but it is reaching a major Resistance level at 48, It matches the upper channel resistance level, plus other technical levels like overextended overbought level, waning bullish imbalance, profit taking area, this can reduce the likelihood this will try to breach the 48 level. It makes more sense to try to retreat, shake the tree and try a...

Madrid Wizard

$FSLR has had a very good run since Santa Claus visited the Stock market last Xmas. The question here is Will it have the strength to go for the previous all time high levels it had in the past? In Wall St there are no straight lines. It is bullish, but in order for it to break the previous week levels it needs more momentum, which is already declining and...

Madrid Wizard

$AMZN hasn't stopped amazing the market. The secular trend is still intact, however I see some technical levels that made me question if this still has enough power to reach an ATH. It is at a Double Top at the $2,000 level, Negative Momentum Divergence in the Weekly time frame and lower volume in the same time frame. I am not surprised to see how euphoric the...

Madrid Wizard

$FB is showing signs of weakness, the bull leg is Overextended, the indicators already show a Momentum Divergence and Failed to close above yesterday's High of the Day. Initial Bearish Target : $185.

Madrid Wizard

$BTC.X $ETH.X It was the end of October 2017 when the Bitcoin market became crazy, euphoria and the stories of Lambos and overnight self made millionaires flooded the forums and news outlets. Nobody can predict the future, if someone says so, that someone is just in the best case scenario "guestimating" it. However we all can see the behavior of a market and...

Madrid Wizard

A positive momentum divergence ignited the uptrend channel we see in the gold market. After the drop it had yesterday we saw the support held right at the bottom of the channel, which is a bullish signal. Continuing on this direction a target of 21 is on the radar once the resistance is broken to the upside.

Madrid Wizard

$TSLA is holding strong. We had two very red days recently, and the most it did was to hold at its 250 stronghold. This created a double bottom with positive momentum divergence, a bullish sign. It is heading to test 300 into Earnings. The trade. Enter at 260's level, even if this has already left that area, it is still time, considering a target at 300....

Madrid Wizard

Heading into earnings the technical analysis on TWTR says it has been bouncing above 28, where it found a support after testing 26, where an inverted Head was formed. The momentum indicators show an increasing value, making it a Positive momentum divergence, which is a bullish sign. During the market drops, even though those were severe, TWTR was resilient and...

Madrid Wizard

HL/LH = Consolidation. Still holding 260. This is a strong support, if the closing price holds it may try another leg back to 280. The word of warning comes from the trend support line, which was violated already.

Madrid Wizard

What we just saw was a short covering rally that triggered a lot of stop losses from the bear side. It overextended to reach 300 again to test the main support resistance level. The only way to know this will actually reverse is by retesting the support below the 250 levels. So it's not still time to celebrate. Best case scenario, it will go back to 250-220...

Madrid Wizard

The long 3XX level maintained for months was breached to the bear side. The technology sector today was hammered hard and $TSLA couldn't deal with it. We had a gap up back in March/april 2017. This gap is becoming resistance too. So my forecast for TSLA in the following weeks is once it hits its lower support channel line, it will be bouncing around the 280,...

Madrid Wizard

300 became a Strong S/R Area. If it holds it can bounce between 300-340, and try another leg. If not then do you remember the 280/250/220/200/180 pivots? It all depends on how the 300 S/R behaves.

Madrid Wizard

"Don't sell at the top, sell only if there's no rally after the reaction" ~Jessee Livermore. This market has been buying the dips, which is a rule in an uptrend market until the trend states otherwise. This is what has been happening so far. This market is facing changing circumstances from the time Yellen was the chair woman at the Federal Reserve. ...

Madrid Wizard

The run for Micron for this leg started at 10. It has been a great run and it has gone through the accumulation phases in the accumulation funnel. Each time a target is hit the price corrects. Considering the level the accumulation funnel has reached, it will make this stock look bearish. The target price is 48. Predicting the future is not an exact science...

Madrid Wizard

After trying to break its upper channel resistance level it went to test the support. It's holding support at 9,000, but if this breaks, the next levels to watch are $7,600, $5,800. So far the setup looks Bearish.