NVDA showed relative strength during last week's massive rally. If the market pulls back here I will be looking to go long in green box. Will need lower time frame confirmation for entry. Not interested below the green box. Alternatively if the the market reverses higher I will watch for a break of the recent high for a breakout long entry as well.
Gold has broken out above some key pivots sitting well above decent support represented by the green box. We my see a pull back here but a test of the ATH going forward is now likely. A breakout above ATHs could yield a move to at least 2100. Definitely worth watching here. I personally will not go long unless we see a pull back towards the green box or a...
I think the market is pricing in 10 year yields topping out at about 2.8. Yields are stretching toward the multi decade trendline an I believe the market is expecting rates to fall back from there. Perhaps the buying we are seeing right now is the front running of this expectation. The question is what happens if the longer term trend line does not hold?
Here is the weekend look at Mar 14 - 18th. The down trend continued last week with the Nasdaq dropping 4% closing about 268 points above the Feb 24th low. Difficult trading continued with a counter trend rally on Wednesday back into the 9 ema only to be sold off later in the week. The CPI data came in as expected and was met with a muted response from the market...
OIL is catching a bid here again. Price has give us a double bottom. Like the 2618 setup so looking for a pull back toward the green box. Stop would be below the recent low. Will update with targets if trade is entered.
Here is the weekend look at the ES/SPY going into Mar 14 - 18th. It is more or less a copy and paste of my notes for the NAS. Both are trading in similar fashion with the S&P showing a slight edge in relative strength. The down trend continued last week with the S&P dropping 3% closing about 285 points off the Feb 24th low. Difficult trading continued with a...
Here is the weekend look at the ES/SPY going into Mar 7-11. Just wrapped up another volatile week of choppy price action. The ES, like the NAS is now stuck in range trading between 4250 and 4400 just below the 21 ema. Price broke briefly above the key ema on Thursday, but was quickly rejected to the down side closing Friday about 3% off the weekly high. Going...
Here is the weekend look at the NAS/QQQ for the week of Mar 7-11. We just wrapped up another week of choppy and volatile price action. Price is currently stuck in a range between 14350 and 13700. On Thursday the NAS broke briefly above the 21 ema and threated to break above the downward trendline, but quickly rejected. Price closed down 1.5% on Thursday and...
Here is the weekend look at the ES/SPY going into Feb 28 - Mar 4th. Volatility continued last week with a wild 6.7% turn around on Thursday after a 5% drop to start the week. News broke of the Russian invasion of Ukraine on Wednesday night and the market opened deep in the red on Thursday morning. Traders flipped from short to long quickly leading to a massive...
Here is the weekend look at the NAS/QQQ going into Feb 28-Mar 4th. Volatility continued last week with a wild 8% turn around on Thursday after a 7% drop to start the week on Tuesday and Wednesday. The invasion of Ukraine on Wednesday Night caused a massive panic sell off down to 13025. The market opened deep in the red on Thursday morning and then rallied almost...
Here is the weekend look at the ES/SPY going into the shortened trading week of Feb 22-25. My analysis of the ES is almost a carbon copy of my NAS post. We saw whipsaw price action last week and closed down 1.5% on war tensions and worries about a tightening Fed. This week the ES has gapped down on Sunday night and threatening to continue its move lower. 4212...
Here is the weekend look going into the shortened trading week of Feb 22-25. Last week the NAS closed down 1.7% after making a brief push up into the 9ema. Market weakness can be attributed to more hawk talk from the Fed, Russian/Ukraine tensions and weak earnings from highly watched growth stock like ROKU & SHOP. It looks as if we have more volatility on...
MS looks poised to break out from a long term consolidation. Looking for a quick move to 108. Trade would be very rate dependent. If yields fall or the yield spread tightens bank stocks will drop. I like this in and above the green box. No longer interested below the green box. Targets are the fib extensions above.
Here is the weekend look at the ES/SPY going into the trading week of Feb 14-18. The ES started the week in the middle of the neutral and made a bullish move into the top of the neutral before the CPI data release. Following the the data release price rallied briefly and then fell away dropping 3.75% for the remainder of the week. Price currently sits below the...
Here is the weekend look at the NQ/QQQ going into the trading week of Feb 14-18. The NAS started the week below the red neutral and then made a bullish push prior to the CPI announcement right into the 200 sma. The data came in higher than expected and after an initial positive move price broke down falling 5% from the weekly high. Fears of war with Russia...
I do not post about BTC often, but if you scroll my posts you will find my levels have been effective. My last post noted that a break of the tan box would likely yield a move back down to the green box. Price did eventually break the tan box an move back down to the green zone. Since touching the green box BTC has bounced 9K. I am a long term holder but like...
Here is the weekend look at the NAS/QQQ going into the trading week of Feb 7-11th. Last week the NQ started out below the 9 ema and the 200 sma as well as below the red neutral box. Price rallied strongly the first half of the week back above the 200 SMA, but then gapped down almost 2% on the FB earning miss Wednesday then gapped back up on Friday after the AMZN...
Here is the weekend look at the ES/SPY for the trading week of Feb 7-11. The ES started out last week at the 200 sma and the bottom of the red neutral box. Price rallied hard for 3 days above the 200 and into the top of the neutral box where it ran into fib resistance. Price gapped down on Wednesday night after an earnings miss from FB. The following night price...