SquishTrade

SquishTrade Updated 

Primary Chart: S&P 500 (SPX) as represented by SPDR S&P 500 ETF (SPY) 1. SPX and Recession A recession is exceedingly likely in the near future. It could officially begin next month or in 4 months. But does that mean bears should be rewarded by a straight-line decline to new lows? Sadly not. Unfortunately for market participants, the S&P 500 S&P 500 (...

SquishTrade Updated 

Primary Chart: AMD's Downtrend from All-Time Highs (2D Time Frame), Fibonacci Retracements and Projections, Long-Term VWAPs AMD remains in a severe downtrend at the primary degree. AMD's price on its most recent rally off the October 13, 2022, low rallied right into trendline resistance and rejected lower. On a linear chart (primary chart above), price...

SquishTrade Updated 

Primary Chart: TSLA's Downtrend Shown by Parallel Channel, Anchored VWAP from Sept. 21, 2022, Key Support / Resistance Levels SUMMARY: TLSA remains in a steep downtrend at the primary degree of trend. The selling is not likely to be complete on longer time frames. A countertrend bounce may take TSLA's price up to the following targets: $155-158...

SquishTrade Updated 

Primary Chart: Primary Down Trendline, Fibonacci Levels, Two Key Anchored VWAPs SUMMARY SPX's downtrend in 2022 was never invalidated. It remains effective at the start of 2023. Downward forward earnings revisions combined with a challenging macro environment (recession along with tight central bank policies in the US, UK and EU and elsewhere) will continue...

SquishTrade Updated 

Primary Chart: AVAX's rally from August 29, 2022, to September 12, 2022 Appears Corrective It appears that the downtrend in AVAX's price has resumed. But one need not speculate based solely on the recent days of selling. Price charts for AVAX have left plenty of evidence to show where price may go next. First, it's important to define the overall trend. The...

SquishTrade Updated 

Primary Chart: NVDA's Primary Downtrend Since November 2021 Represented by Parallel Channel and Anchored VWAP from ATH Summary: NVDA has been in a downtrend since its all-time high on November 22, 2022. NVDA broke above its down TL on a linear chart briefly in whipsaw move (bull trap) on December 13, 2022. It failed decisively back below. This failure at...

SquishTrade Updated 

Primary Chart: Primary Down Trendline from 2021, Secular Up Trendline from 1997, Long-Term Up TL from 2008 GFC Low, and Fibonacci Retracements from Covid 2020 Low Summary: 1. This post provides a broader view of the technical environment within which AMZN's day-to-day price action takes place. 2. AMZN remains within a primary downtrend (see the parallel channel...

SquishTrade Updated 

Primary Chart: AMZN's Primary Downtrend with Parallel Channel, Daily 8 and 21 EMAs, Fibonacci Levels Summary: 1. SquishTrade's longer-term view is bearish. In the short-term, prices could bounce to retrace the first wave of decline from the November 15 high at $103.79. 2. Short-term bounce targets are $100. After the bounce reverses lower, downside price...

SquishTrade Updated 

Primary Chart: Parallel Channel Defining Downtrend from All-Time High, Uptrend Line from Covid Lows Through June 2022 Low, Fibonacci Levels AAPL's logarithmic chart reveals some interesting technical facts that are not as apparent on a linear / arithmetic chart. 1. AAPL remains in a trading range. This range developed and persisted over the past month. The...

SquishTrade Updated 

Primary Chart: 1W Chart Showing Head and Shoulders Pattern with Its Proportional Objective along with Fibonacci Levels Summary: TSLA held up for much of the year better than most tech / growth stocks, but it has recently shown a great deal of weakness, breaking to new YTD lows. Initial targets are $175-$185, from which zone a corrective bounce may be likely,...

SquishTrade Updated 

Primary Chart: SPX Long-Term TL and Anchored VWAPs, Fibonacci SUMMARY: SPX experienced a failed breakout above the downward TL. See the Primary Chart above. This suggests weakness ahead, but price may remain choppy throughout December. Price failed right at key levels including the VWAP anchored to the all-time high on January 4, 2022, a downward trendline...

SquishTrade Updated 

Primary Chart: AAPL's Parallel Channel and Key Trendlines with Fibonacci Retracements from November 4 Swing Low to November 15 Swing High SUMMARY: AAPL appears to have begun a leg lower in earnest, along with SPX. A break below $140.35 will help confirm. SPX broke below its recent swing low on November 29, 2022, which is consistent with AAPL's failure at its...

SquishTrade Updated 

Primary Chart: Potential for Symmetrical Pattern in Two Major Segments of Decline Shown by Roughly Parallel Price Paths in Orange Many recent posts have contained a great deal of written analysis and explanation. This post is intended to be a chart-heavy weekend update on the NDX as reflected by its well-known ETF ( NASDAQ:QQQ ). This post will be far more...

SquishTrade Updated 

Primary Chart: 2D Chart Showing Downtrend Parallel Channel, Fibonacci Levels and Major Support at YTD Low Gold OANDA:XAUUSD could be nearing a tradeable low. The primary degree of trend remains bearish. Lower highs and lower lows on the daily and weekly chart appear. The downtrend channel on a log chart (or linear chart) has contained highs and lows since...

SquishTrade Updated 

Primary Chart: Down Trendline and Anchored VWAP from All-Time Highs, Fibonacci Retracements and Extensions Summary of Key Points: 1. SPX remains in a countertrend rally (an uptrend on shorter time frames) from the October 13, 2022 lows. See the parallel channel on the Primary Chart. The post-FOMC selloff found support right at the base of this channel. 2. A...

SquishTrade Updated 

Primary Chart: Downward Trendline from All-Time High, Various Anchored VWAPs and Fibonacci Levels Rallies in Downtrends Are Part of the Process Don't fight the rally in AMEX:SPY , the ETF tracking the S&P 500 ( SP:SPX ). Bear rallies are part of every downtrend. Many are debating whether equity markets have put in a lasting bottom in mid-October 2022....

SquishTrade Updated 

Primary Chart: Bollinger Bands (Yellow Shaded Volatility Channel) with Fibonacci Levels, Downward TL and VWAPs 1. As discussed earlier this month, AMD remains in a severe downtrend at the primary degree of trend. This means that the path of least resistance on higher time frames remains lower unless and until AMD can do a substantial amount of price work and...

SquishTrade Updated 

Primary Chart: BTC's Right-Angled Triangle "Don't catch a falling knife" is an oft-quoted aphorism among traders and investors. At its core, it's a warning about the dangers of buying into a downtrend or sharp drop before price has shown evidence of a bottom. Of course, there are profitable trading moves around buying dips in uptrends , and this cautionary...