TheMandalorian27

TheMandalorian27

The explanation is in the chart analysis here.

TheMandalorian27 Updated 

If the SPY sustains this $305 range and confirms the trend line, I will be looking to play the upside. Otherwise, if we break through that valley, the market is in a new trend and likely a downtrend.

TheMandalorian27 Updated 

This Fed rate cut was premature and poorly timed. This will be looked back onto as an utter waste of ammunition. A rate cut is not engineered to alleviate a biological problem. This is a problem that needs to be worked out by the market by itself. The question is whether yesterday's 5% market gain was due to the "expected rate cut" being priced in ahead of time OR...

TheMandalorian27 Updated 

I see 3 potential scenarios here. Still too early to tell. But from what I see thus far, the market will trade sideways until close and well see a potential reversal signal as soon as tomorrow OR not!

TheMandalorian27

If the spy crosses $294-295 which I consider the upward trajecting median, things are going to get harry. The next stop is $280 range. Stay current everyone, a HUGE buying opportunity is on the horizon.

TheMandalorian27

Bullish momentum was clearly losing steam. This formation started from the beginning of January until February 20th.

TheMandalorian27

Average Directional Index was in a very weak trend which signaled beforehand that we could expect some choppiness. The market was trying to decide which way it wanted to start trending towards again, which is why it was so easily swayed. We should have known how information sensitive the mkt already was and sat back and thought. Looking back now, the more powerful...

TheMandalorian27

We needed a stronger buyback to break out of the RSI trend ceiling that was starting to form. Unfortunately, it was a weak fire back towards the bears and our next support is $294.

TheMandalorian27

1) Very weak ADX trend. 2) Coronavirus fear 3) Mkt priced for an “extreme” best-case scenario 4) Mkt pricing in an “expected” rate cut leading to earnings growth 5) Investors being rather complacent and almost unfazed by coronavirus risk This was a very unique scenario. All the variables aligning at once leading to the fastest correction in history!

TheMandalorian27

If you got all these people staying home, your addressable market goes up... Zoom, NFLX are the big winners in this thesis. I spotted this anomaly 2 days ago; ZM, TDOC, GILD, PTON, etc. were all being driven by this narrative that people are going to operating from home. The narrative was still catching fire at this point and had not yet affected NFLX. Therefore,...

TheMandalorian27

I'm not assuming a bounce here, but I think we'll see one. Last time the market has been this oversold, this quick was December of 18'. Just paraphrasing wave theory, the market made it's 2 steps down, now we're due for our 1 step up. Now that's not to say that it continues to downtrend after that routine buyback.

TheMandalorian27

Stock price making lower lows. RSI making higher lows. Additionally, we seem to be finding support at this $130 level. Time will tell

TheMandalorian27

Bought puts this morning. Beautiful set up. It will get impacted by china news. Good risk/reward. I would say 88.5 is a good target

TheMandalorian27

This stock was ready to run this week until the Sprint, T-Mobile merger deal happened. It plowed through its resistance to over $39 after hours Monday night. Then the merger got announced putting a temporary delay on the bullish setup.

TheMandalorian27

Potential short-term shorting opportunity here. Will be watching carefully for a potential buying opportunity to roll in and hold for the next 2-4 months...

TheMandalorian27

This is what we were looking for and it was expedited by the FTC announcement and uncertainty leading into the FED Powell meeting. I think it's a 60/40 chance that we get a bounce here. Otherwise, it's most likely going to find support on the white RSI trend line I have marked...

TheMandalorian27

This is setting up to be a potential bounce off upward RSI support line. Disney still has bullish momentum from earnings and promising subscriber growth pushing it forward

TheMandalorian27

Don't get me wrong, TME is a great company with good fundamentals but, it is setting up for a pullback.