Financials on full display going into earnings . Will those GAPS fill? Keep them on your radar. #XLF #JPM #C #BAC Interest Rates continue to rise on 30 year home mortgages and the federal interest rates consumers begin feeling the pain of being both pushed out of the market and every direction they turn. In most cases higher interest rates help the banks and...
This morning we went over the NASDAQ-100 AND SP500 Futures as well as Bitcoin. We identified some key area moving averages, potential support and resistance levels, and ideal possibilities for entries and stops. CPI numbers at 830am which could pose as an excuse of "better than expected" as a relief rally, despite overall weakness in the economy. Inflation...
We’ve been heavily focused on the NASDAQ-100 (aka NDX and QQQ) as the 200 day moving average continued to dominate price action - despite pundits on television speaking that venom on how “growth and tech were recessionary resistant!” It is amazing what these people can get away with on television and how their words are held tightly by many bystanders looking for...
In my last posts on AMD and video we were bearish on the stock calling for a much lower downward target; however, we want to take advantage or short term changes when opportunities present themselves. Therefore, you can have both bullish and bearish sentiments and outlooks -- trade what the markets give you. Market Reversal Mid-day; Bear Markets still present....
SPX is now sitting at with a candle by its lonesome on the Daily chart with a clear range (high and low) of that candle. If you break it down to the 4 hour chart now you have an inside candle with the high and low clearly defined. I decided to post the 15 minute chart here for the sake of seeing how the price action moved within the range for the previous day...
On my last chart of AMC we identified the demand zone and eventually blew right through out target! Now we're hear to look at the reverse of that outcome. I know the bulls and 'ape land' won't approve of this sentiment; nevertheless, I foresee price action returning back to our $12 - $14 range and that could happen within a short duration of time. Let's call it...
I love the evolution of Facebook / Meta as we've been experiencing the Metaverse at the Firm; tremendous opportunities for people there. However, this is the markets and I'm focused on 'what I see on the charts' versus 'how I feel about a stock or news'; therefore, I will point out that I remain bearish on FB. FB is below the 200 day and 50 day moving averages,...
AMD is in an area where it has the capability to experience a minor upswing; however, that is based on the overall market conditions and the beatdown #SOX Semiconductor index. Both #NVDA and #AVGO had the largest pullbacks today (of those that I watch in this sector). The Semiconductor Index is well below the 200 day and 50 day moving averages, which is never a...
Markets are breaking down significantly in the bigger picture. Growth stocks will pullback; especially as AAPL begins to see more deleveraging. Yields are inverted and bonds crashing. Uncertainty remains the focus in the markets. The latest upward movements are just the vicious cycles that happen in bearish markets. They're usually more violent than bull markets....
Lots of attention with Elon Musk regarding TWTR; therefore, TSLA is also reacting. I'd say be a little conservative on TSLA and keep in mind how the broader markets are behaving -- not just on a small time frame like 1-5 minutes. Yes, it may be a fantastic company with a great product, brilliant leader, etc.; however, as technicians we need to focus on 'what is...
AAPL had an impressive run with the bearish market upswing, even the most beatdown stocks finally gained some traction; however, they've been unable to turn the corner. End of March (the quarter) is upon us so this could have been some nice window dressing price action by the hedge funds to help show some progress in returns. In any case, who cares "why" the...
AMC starting to get "some" wind back in the sails. This could be based on "hype" from press releases and upcoming optimism on the earnings coming due with about 3 weeks. AMC has been issuing a plethora of bonds, so that is something else to keep in mind when it comes to Coupon Payment Dates and Maturity Dates. For me, AMC is boxed in between the $12 - 20.00 with...
Target 1 for AMZN is 2422 to 2400 and Target 2 is for 1918 to 1890. It is very interesting to see the CEO of Web Services selling shares of the company leading into earnings.
While $BABA has had a nice gap up movement in the past few days, perhaps caused by anticipation to their earnings coming due, I expect the stock to have continued upward pressure. Therefore, I expect there to be more 'time and price' and filling of previous pricing areas as notated on the chart around the 115 TO 113-ish area. The complexion of China has not...
T1 is ~123 first level, but has potential to reach T2 around 131 - 132 before the end of January. The ADRs are more about 'what is happening with China regulation' more than anything else. HOWEVER, BABA has one of the best abilities long-term in my opinion. The earnings have been great and their ability to evolve will surely happen -- just as it has with Amazon...
PFE is overrated and pumped by the media and those with agendas. I am expecting PFE to pullback to Target 1 55.66 - 55.47 and possibly down to Target 2 of 52.85 - 56.60.
There is so much baked into the markets with vaccines. I expect PFE to have some downside to 55.66 to 55.47 as a T1 downside Target.
Markets had a significant high beta pullback rotating portfolios and now the rebalance is here in my opinion. Time for $FB to retrace upwards to Target 1 area between 333.42 to 336.94 and Target 2 between 344.18 to 346.64 with some hesitation around 341.92. I anticipate one or both of these targets to hit before the end of the 2021 year.