Riding th top of the wedge a bit this morning. Feels weak to me.. Unless we get crazy stimulus news today I am still shorting. Added a bit to my position just now. only a matter of time now. RSI overbought volume down
Stock floundering a bit here with news out of China.
Could struggle to reach new highs if this continues. Stuck in a pretty stable channel between 175 and 187 but as we approach the GANN line below we could see some action
Targeting Boxed area for next run up to recent highs.
Still long on Boeing right now. Even after news of thousands of layoffs shes running up.
163 seems to be a pretty strong resistance point here, likely to see some small pull backs this morning. 149 should hold if we get that low but i dont think we do.
163 next target, well see how it reacts from there.
SPY above 304 in premarket trading.
RSI overbought slightly, MFl heading towards overbought.
Might see some pull back but nothing dramatic today. I think we keep creeping towards that 310 level before the reset. Matches with the early pump from early March.
293 held and we gapped up to 300
I am out right now.. I want to see if we make a move to 311. The Gann lines are telling me we either go down now, or ride up to the next FIB line along the Gann levels before a sell off.
IF we break 304ish then wait as we likely head to 310-11. If we break 297/98 then we start shorting.
If 293 breaks we fill the gap below. Could still gap up to 300 over the 3 day weekend.
If we dont break it we run flat today, and could either gap up to 300 over the weekend or gap down to the gap fill.
I think we open high Monday, and sell off into Tuesday.
Boeing securing lots of defense contracts right now.. Yes they make missiles too not just planes.
Plane orders have been horrendous and orders are still actively getting cancelled. Even with the Max being put back into production soon, i think this stock struggles through this year. I think there is some potential for this one long term. Boeing will be a...
So it looks like were going to just ride this Gann line up to 300 which touches our top end of the channel we are in.. Has to come down from there but need confirmation first.. Im out right now, and will keep an eye on that 300 level.
Betting against this market has proved to be a costly venture. Its mostly a sham in my opinion.
We have seen SPY playing with the gann lines with impressive accuracy over the last month.
Was thinking we would come down from yesterday's pump. but were still holding on. We could ride this line up a bit before filling the gap below. another bounce off 277 then up to 300 is my thought
Not confident we blow through to 300 yet..
bounced nicely as expected but i think we come down a bit to ride the Gann line for a day or two before we pop to 300. Then ultimately back down in to the channel we are currently in.
Going long here. Stimulus money coming should give the markets another boost.. Bounced nicely off fib line.. could be a repeateing patter from last 6% drop. Green line is what my thoughts are for next few weeks.
Last time MSFT went down like this it lost almost 7%. If we match that up to this drop we've got a target of about 174 then we bounce nicely from there. This point also lines up nicely from an earlier support line..
Buying PUT options from there i think..
Over sold and still falling a bit. Broke 280 now playing with 277 lines. Next support around 271 then 266. Having a hard time believing we go that low.
Keep en eye on that green arrow mark. If we break below there it could get ugly..
I like Gann charting..
Broke below the 2/1 line which typically tells you prices weakening . 178 should be a pretty good support line for MSFT. IF we get to that 3/1 line we should be in for a pretty aggressive move up or down..