WadeYendall

WadeYendall Updated 

SKEW getting pretty stretch here. Well past my TRIM ZONE or an area when I start to reduce position size and considering protection. It can stay there for a while so no need to overreact, but something to be aware of.

WadeYendall

As I mentioned in my ES/SPY post we have a good chance for a continued rally into the FOMC meeting this week. NAS is poised to at least tap the ATH and potentially breakout. On breakout the first resistance and target would be the red box. In the past the NAS has had some good follow through momentum on breakouts so watch for some short squeeze price action. ...

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We have the FOMC meeting this week and PPI data coming out. So similar to last week the market will be setting up for the announcement. Last week we had chop then a late week rally after the inflation data was released despite the fact that inflation data came out higher than anticipated. For now the market is buying the idea that inflation will be transitory...

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Here we go again. Price is making another run a 40K. If price manages to break above that level things will start to get interesting. So for the downward trendline has been broken and retested. Above 40K first resistance would be the 382 fib (42K) then the 618 fib(52K). I am not getting too excited as the bottom could easily fall out if sell orders pile in from...

WadeYendall Updated 

If you have followed by recent posts you would know that I felt a retest of the ATH was likely and that the 4500 level would act as a magnet for price. We are now back at the ATH and about to find out if I'm right about the 4500 target. The market always finds something to worry or get excited about. This changes like proverbial underwear. In the recent past it...

WadeYendall Updated 

TNX has been rolling over of late and so far has not reacted strongly to today CPI and jobs data. However price remains above the 382 and the green box on the chart. The longer price stays above that level the higher the odds yields venture up to the 618 level taking the yield up to 2.17. Something to keep and eye on.

WadeYendall Updated 

NAS has founds it way back up to the top of the current range after some erratic price action. A break above the red box should yield a move to the 866 fib and potentially ATH. Any pull back should find support at the 9/21 ema cloud and 618 fib below.

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The BTC charts has looked like crap for a while now. Despite a few valiant attempts to base it has not been able to do so. It looked as if price was going confirm a base on Jun 3rd/4th, but a perfectly timed Elon meme tweet sent it rolling over again. Here are the levels below I have as potential targets/buy zones. Price has not been able to reclaim the 382 fib...

WadeYendall Updated 

ROKU has recently broke the downward trendline. Price is now retesting the break point and should find support in and above the green box. Price is also pulling back to the 9/21 ema cloud which may provide additional support. Targets would be the dotted black lines. Trade is dead below green box.

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TDOC had a very positive reaction to earnings. I will look for some consolidation and break of 239.. Targets would be the fib levels above and then the ATH. Not interested if price fall below the tan box.

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NVDA has pushed up to the ATH and is threatening a breakout. I would expect a pull back at this point potentially back to the green box. The market looks like it want to go higher however so watch for the the upper range (tan box) to hold and price to take off. Targets are fib extensions above.

WadeYendall Updated 

If this base can breakout and hold there may not be a flush to 27k as everyone expects. 50K will remain a tough level to break through so stay mindful of the overhead resistance.

WadeYendall Updated 

ARKK has become the bell weather for small cap growth so it is a good ETF to track if you have small cap growth names in your portfolio. There has been some recovery in the growth space, but the ARKK charts shows us that growth names are not out of the woods yet. ARKK is still struggling to break above the ema cloud and has not broken the downward trend line. ...

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SNOW just reported earnings and has had a brief sell off. I have been watching this name after the break of the downward trend line, but wanted to wait for earnings before entry. If price can hold above the green box I like it long. So far price has flushed below the green box and recovered. I will wait for follow through recovery tomorrow. Plenty of room to run...

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FUTU gapped up today and showed strength. I like it long if price can stay in and above the green box. Would not be surprised to see a move back to 130, but would expect a quick recovery. Targets would be 148 and 161. Not interested if price falls below 130 again. Risk management with this ticker is paramount as this is a high beta name which can make large swings.

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Would like to see a pull back to the green box and then a push through the downward trend line. Targets would be the dotted lines. Not interested if price dropped below the green box.

WadeYendall Updated 

NAS 100 closed out last week in the middle of no mans land. Price sits inside the neutral zone(tan box) and within the 9/21 emas. Key level to the down side would be 13352 and 13620 to the upside. Bitcoin is currently setting the tone for risk assets. If it continues to sell off expect to see weakness in small caps and growth. If it manages to rebound sharply...

WadeYendall Updated 

ES is attempting to break the 618 and push to ATH. I still see the 1.618 at 4500 as a magnet for price. Needs to get through 4537 first. Level to watch to the downside would be 4110.