Interested to go logn on a pullback to the green box.. Targets would recent ATH and extension from high. Trade dead below green box.
Price bounced nicely from the recent sell off right up to 42K where it was met with significant resistance. Price is now retesting the low and has a good chance of undercutting to the 27K zone. Many traders are expecting this so it may become one of those self fulfilling prophesy things. As we have see recently price in crypto can make exaggerated moves in...
BTCUSD broke through 42K. Here are my next levels to watch to the down side. Saving dry powder to add heavily if this drops to 30/32K.
Likely to have a deeper sell off along with BTC . Here is the first zone to watch. I'm simply adding at these zones, not trading them. Expect heightened volatility due to Elon's rants.
Thanks to Elon it looks like the rounded top in BTC is threatening to break to the down side. Here are my levels to watch. I would expect a significant bounce from the first level, but that bounce may roll over again. Given that the second level is the spot I will look to add heavily if we get the drop. Musk is setting himself up to start his own digital...
I was hoping ARKK had finally found a base late last week give some hope for a rally in small cap growth stocks. That was until Cathy Wood got Musked on Sunday afternoon. Elon's tweets have sent BTCUSD into dump mode leaving the ARK funds exposed through there exposure to GBTC, SI, TSLA, COIN ect. If 100 breaks I would not be surprised to see a flush down to...
While Elon blathers on about Bitcoin TSLA shares are looking weak. A break of the daily pivot (539.49) could yield a move back down to the 420 zone. The king of memes may become the biggest meme of all as the shorts will pile on quickly likely creating an outsized move to the down side. Twitter will be filled with "Funding secured!" tweets and longer term...
The NAS bounced beautifully out of the green zone I highlight in my last post and then finished the week right at the bottom of the neutral zone (tan box). Price also closed just below the 9/21 ema cloud which is a zone many bounce players would look to take profits. Price will have a lot of work to do to get back to a bullish posture. Below the neutral I expect...
Massive one day drop yesterday looks to be continuing today.. It appears the bears are targeting this green zone. Of note is that the measured move has been completed so some buying may start early. I would expect any bounce or rally would be met with heavy selling in the area of yesterday's close at 13355.
After scanning through charts and market commentary from the people I follow and respect the tone has turned bearish at least for the short term. The pull back in tech and the sell the news price action following a big earnings week has many traders feeling nervous. I posted a similar chart a while ago point out that the SPX was running into channel resistance...
I mentioned in my recent SPX post that the tone going into this week is bearish following a choppy week of big tech earnings. Despite posting stellar earnings a slew of highly watched names either sold off or gave back gains post earnings. This was frustrating and surprising for many I'm sure. The reality is that market participants are in need of new market...
TWL0 broke above the 618 today. The green box should now provide support. I will be looking for a pull back to the green box for long entry or some consolidation and a break higher. Targets would be the 786 and 886 fib.
PGNY just broke out to new highs. I like it long on a pull back to the green box at 54 for a move up to 58/60. Needs a strong market for follow through so watch the broad indexes. Stops would be below the green box.
We've seen nice bullish price action from the NAS the last two sessions. The NAS is now poised to break out too new highs if the we get some strong earning reports from AAPL, AMZN and the like. I always watch the 1.13 fib extension on break outs as I have found many failed breakouts reject at that level. For that reason I use the 1.13 fib extension as my stop for...
NVDA has pulled back to the longer term breakout point and found support at the green box. I will look to enter on a break of the tan box for a move to 636 and 642. Trade requires pre -earning momentum and strong NAS price action. Not interested if price pulls back into the green box.
NAS is looking weak and sitting on key support. Selling pressure is increasing so corrective move is possible. Keeping stop on positions tight and stick to day trades only until this finds support.
FB has earnings 10 days from now. I like the inside week close after breaking above a multi week consolidation. I would go long on a break of the tan box to fib and dotted line targets. If it falls back below the tan box I'm no longer interested.
Back watching FUTU for a pre earnings run. I like the way it has been tightening up below 160. A break above 159 could yield a move 162 quickly. A break above 162 could then make a bigger run to 180/182. Be careful with this one. It has massive range. If price were to break below 139 it could end up back below 120 very quickly.