benactonbond

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Joined Italy
Markets Allocation
Top Mentioned Symbols
QQQ 25% | 2 SPY 25% | 2 BTCUSD 12% | 1 TSLA 12% | 1
benactonbond benactonbond BTCUSD, 60,
BTCUSD: Looking for breakout...
204 0 2
BTCUSD, 60
Looking for breakout...

Violent correction from 16600 can be explained by simple take profit selloff. Expect to see the start of a new trend with Bollinger Band explosion. OBV is looking solid too, so wouldn't worry about trend reversal.

benactonbond benactonbond TSLA, D, Short ,
TSLA: TSLA Double Top for short term bearish reversal?
60 0 1
TSLA, D Short
TSLA Double Top for short term bearish reversal?

Very basic analysis of TSLA reveals a potential short term reversal with target around 200. I would execute if stock drops below 290 in order to to pass the pattern confirmation point and get rid of that strong support line. OBV also seems to have topped, giving in to negative volume days. This analysis obviously doesn't consider news and fundamental data.

benactonbond benactonbond QQQ, D, Short ,
QQQ: QQQ Filling target area
42 0 1
QQQ, D Short
QQQ Filling target area

Got out of the market after distribution days on the SPY. Will get back in once the situation is stable again.

benactonbond benactonbond SPY, D, Short ,
SPY: Distibution days on SPY are a Sell
89 0 3
SPY, D Short
Distibution days on SPY are a Sell

Following Bill O'Neil's Can Slim momentum investment method, one way to identify market tops is to track distribution days (0.2% drop and increased volume signals institutional selloffs). More than 4 distribution days in the span of 2 to 3 weeks is a potential market top.

benactonbond benactonbond QQQ, D,
QQQ: We shouldn't worry about the Nasdaq
22 0 0
QQQ, D
We shouldn't worry about the Nasdaq

A couple of weeks of vigorous growth, couple with a strong SP500 confirms this almost 3% drop is nothing to be worried about. The most likely explanation is profit taking and it coincides with the high volatility tech narrative. Another interesting observation is the movements the QQQ followed before its biggest 1 day drops this year. Both movements precede ...

benactonbond benactonbond BA, D, Long ,
BA: Ascending Wedge on BA is a buy
47 0 4
BA, D Long
Ascending Wedge on BA is a buy

Converging Bollinger Bands and a rising wedge is a potential buy at breakout. We might se a repeat of the gaps in early August.

benactonbond benactonbond AMRN, W,
AMRN: Amrn
89 0 0
AMRN, W
Amrn

I'm worried this will happen again.... Please let me know what you think about it....

benactonbond benactonbond SPY, D, Short ,
SPY: Short
54 0 0
SPY, D Short
Short

After today I would confirm that shorting is best now. I wouldn't expect a reversal pattern although it might be possible. So for the next 3 to 4 days I think it's short.

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