Every significant pullback in the past year has began w/ CMF on the hourly dipping into negative territory. This alone of course doesn't guarantee anything, but significant that this is the first time in 2 months this has happened... I still don't think we see any sustained bearish momentum until they announce some kind of trade deadline outcome... way too many...
AMZN (and all of FAANG) have been getting beat up but accumulation still looks strong for AMZN. This is definitely a quick swing trade as I don't believe in holding a company that has guided revenues down 2 quarters in a row...nothing egregious on RSI either. Notice how the larger head and shoulders are all each comprised of smaller H&S patterns that all...
Planning to make my $ back on this joke... Might still keep going up to complete this requisite cup n' handle pattern and breakout to upper TL like it did in november.
Too many people suddenly turning bullish and crowding into the train to 281 because they think it's also .786 fib retrace. Channel fib going back 20 years shows we already hit fib resistance at Friday's close. Not calling a top here... just saying be careful w/ new longs here. Monthly RSI shows we're still in crash mode despite talking heads now claiming we will...
Looked like this morning the rally was getting ready for a gut check, until negotiators decided to keep talking and futures completely reversed overnight. Seems obvious to me why... they can't come away before the 3/1 deadline emptyhanded w/ nothing to show after 3 months of talks. There will be some kind of "deal" in the next 2 weeks, even if it's a deal to keep...
Currently sitting on 2 trendlines from 2008/09 that form a wedge. A throwback here from the bottom TL would propel QQQ back into the channel shown and into IMO at least a .382 retrace of the current rally. It can still try again next week, but with SPY about 5 points away from 281 and major resistance, I dunno how many people are gonna wanna stick around for a...
Why not wait until it clears this cluster of resistance before buying? Everybody's probably thinking the same thing... which is why we're gonna pull back soon. Check out my related idea for how this might happen.
Note these comparisons are always w/ a bearish tilt and every one thus far has been off the mark. I do think we're gonna see more volatility next week regardless with it being an op ex week. Fun to consider regardless... after all this is just projecting a harmless little .382 retracement. Though feels like bulls right now think any thought of a pullback is just...
reality and reason should set in soon...
Surely it can't be this simple? S&P aftermarket looking weak AF... coupled w/ bad data from Europe and we're staring at another likely gap down on open tomorrow. I'd short any kind of gapfill at the open tomorrow... SL pretty darn close to today's close. This is so obvious that it clearly has to be a trap right?
Last 15min was a huge pump n' dump... this one looks like it's about to fall over on its own weight. ETA: just realized no labels on indicators, they're RSI, Acc/Dist, and MFI from top -> down
Looks pretty bearish... Could be quick short flip to 98-99 on break of neckline.
People seem to think that a dovish Fed is gonna solve all our problems and that a retest of Xmas lows are basically out of the picture at this point. I'd argue that the Fed is in large part reactionary (they just increased rates a month ago!) and by the time they realize maybe not all is right in the world, it's usually too late. Historically speaking, when the...
Who's got the stones for the seemingly inevitable ride to 2777? When consumer cyclicals made an intraday comeback despite Amazon's back-to-back quarters of downward forecasts for revenue it convinced me that reason left this market back under 2600. I'm a buyer of Feb 15 calls in the BTFD (Buy the f'n dip) zone... not so much because I have any confidence in...
I posted another view was bearish, here's one for the bull argument... My EW knowledge is pretty basic so not sure if that count is legit...
SHORT. Market's starting to show cracks... cloud stock that's getting pumped while AMZN and MSFT get slammed...
Just broke down from its rising channel. Divergence seen on Acc/RSI/MFI (tho not a real double top, but close enough) Not many stocks these days where you can see distribution on the daily TF so I think it means something...