For the past year, SHOP has been nothing but sharp impulsive move up, followed by consolidation until recently where we had our first sharp move down. It looks as if bull run could be over. Other indicators looking bearish as well, RSI, etc.
I count an impulse wave up since Christmas, with an ending diagonal wave 5. It makes sense that would get some sort of retrace soon, since we have been going straight up for the past two months.
Other bearish indicators are resistance here around 2800, and high RSI into overbought territory.
Targets are fib retraces: ~2700, and ~2630
Chip makers had a great year, AMD with about 700% from the past year - however, its time for AMD and NVDA to cool off.
With indexes at ATH's, geopolitics heating up - there is no doubt that after these huge gains, people will race to take profits.
While my AMD chart didn't make a clear shoulder, the H&S pattern is still there, and im still actively short....
AMD overbought. Late feb/early march it had its first impulse move down after a 700% run up over the past year. Time for a correction. Waiting to see how high this correction moves up, then when it starts to come back down, great short opp.
Potential bull flag forming.
This is my favorite setup. Go long when(e) starts to rebound up, and set your stop at the bottom of the rebound. (e wave doesnt always hit exact trend line) Buy more when there is a breakout from the top trend line, and move stop to the top trend line. Target $23-$25.
Also, zooming out at the weekly/monthly chart, this has the...
Posting what looks to be a bear flag / possible ABC correction with AMZN. Starting with a safe target of 700, but I expect this to go much lower. Weekly, and monthly chart looks pretty parabolic. I am also pretty bearish with the major indexes as well.
I count a possible double zig zag with a bearish ending diagonal C wave. Markets feel toppy, markets look toppy...If we continue to break down out of the channel, Im guessing we could see similar lows to last month (and most likely continue to fall)
For this play, a safe stop is this months top ~ 2080. Target 1820 (for now...)
Interesting observation using the "time cycles" tool. Last 3 time cycles have been the near exact highs and lows of the SPY. If we bounce down from here, it would be quite the coincidence! I would assume we see near new lows at the bottom of this new channel, but beware - just because its happened the last 3 times, it obviously doesn't mean its a pattern. Just an...
With star wars just around the corner, and disney euphoria being exceptionally high - this makes sense that we could be in the process of seeing a flat correction, or a "double top".
I was originally anticipating an inverted flat (where B goes beyond the previous highs) up until the star wars release, but its starting to look like the bulls, and possibly the...
Possible Natural Gas breakout of a triangle bottom. I find bottom wedges are always tricky (i.e is it a bull flag, or a bear flag?) so a tight stop is in order. Also bullish RSI breakout, and MACD crossing to the upside.
I personally use a trailing stop, using the wedges trend-line as a guide.
I have a triangle target of 3.20 here, but if you are confident in...
Here is my EW analysis for DDD. It clearly looks like we are in an ending diagonal (which is usually a very bullish sign long term) We are just waiting for our 5th and final wave to complete itself in the wedge, Usually the last wave (e or wave 5) under or over-shoots the triangle trend line, so don't be surprised if it dips below the line (or doesn't quite make...