The channel in S&P500 I mentioned in my previous analysis was broken together with the trendline in the ES future here. Today the breakdown was retested, confirming the bearish bias. Next cycle date of 2/22 coincides with a major trendline and a fib level around 2530, which is a sensible target area for a pullback anyway. 2583 and 2483 are the surrounding major...
Alibaba is in the process of forming a very nice Head and Shoulders. Break of the neckline at 166.50 would target 158, the confluence of measured move and channel as well as a few moving averages on different timeframes. Very symmetric H&S with volume on the left shoulder and blowoff candle and divergence on the head. Nice!
Disney tried to gap above the 113 I mentioned yesterday, but was immediately sold at the open putting in an ugly reversal. The setup is thus invalidated and short is the preferred direction here, as further downside is probable
Baidu has been sitting out most of the rally since christmas and is currently retesting the lower of the two necklines. BIDU features a nice multiyear head and shoulders that has triggered and a double top that was triggered, and whose neckline is currently being retested. Both formation target the 80-90 area. Prime short candidate of so inclined
Amazon is oscillating nicely between its Fib speed fan and ran into a resistance of speedline, fib and MA here here. Combined with the blowoff candle from Thursday, chances of a pullback are high. Logical target is lower speedline/fib confluence at 1450-1480
Apple is running into massive resistance with that MA and double Fibonacci clustered around 178. Give me a pullback to 161-164 and I will buy a truckload, because the reversal is beautiful so far. Reminds me of Gold in October
NVDA is working on a inverse head and shoulders basing pattern. Break of the skewed neckline would trigger a measured move to 200 which aligns nicely with the big open gap there.
Decision time is approaching in the Fins and they will most likely show the way for the rest of the market. Volume has been steadily falling indicating exhaustion is near, whether it is by buyers or sellers remains to be seen. Personally I favor buyer exhaustion, which would lead to a test of 200MA hourly and the fib at 24.85ish. Seller exhaustion would target...
$JNJ failed at Fib level with huge volume on the topping candles. Looking for the retest as bullish variant and new lows for the bearish one. 129 confluence of 200MA, volume node and resitance level
Nice continuation pattern after that V-bottom here. RR of 3+ with a stop below the intermediate low. Reaching measured move would lead to ATH so the possiblity of keeping part of the position for the long term. Great value stock.
Price is extended to upwards and has reached the 200MA. A pullback would be sensible into 2450-2550. So far price remains strong though Sentiment is grinding on the overly optimistic side. Uptrend remains intact until yellow channel is broken. 2650 and 2610 are downward acceleration levels.
