Since Facebook's IPO there have been times it has been a great pair trade with GOOG, up and down. After the most recent earnings report from both companies could that trade be here again? After GOOG was unable to generate revenue from mobile ads and FB generated surprising revenue from mobile, will this be the catalyst for the rotation to happen once again? Long...
The international markets that have lagged in the past two years are beginning to confirm substantial reversals.
RSI BAMM Crab with volume confirming every leg of the pattern. Looks quite good for a reversal around $72.50.
Another look at a NFLX Daily Chart. Similar to my other one, but a deeper look. This thing is up 150% this year. Most of the up moves being gap ups on earnings. It was a good momo stock, but you have to believe that it's going to give back some. I think it will retrace to the 0.618 retracement of the most recent leg up. Which would be a perfect bullish...
Notes are on chart. Appears to be bouncing around in a bullish flag downward channel.
If it breaks above this resistance line it's going to $966.00. So I guess you could play a short term long play. As I stated on my Weekly chart that $960.00 was possible. I just highly doubted it would get there. So let's see if it breaks. I feel that this thing will go parabolic and tag that level prior to earnings, because I believe earnings will be poor. Every...
About to test the bottom of the descending wedge/broadening descending wedge. Usually on a third touch of a broadening wedge things reverse. I believe that we will Break out of this downward sloping wedge, and tag the 1.618 extension. Which happens to be at the top of this bearish channel. If for some unbelievable reason we fall through the floor on the IWM I put...
RSI BAMM on bearish crab to start it off. My thoughts on TSLA, notes are on the chart. We could reverse at the current price level, but I believe $131 will be the level. Theoretically we could see $22 as a max reversal, but I doubt we will see that. Quite a few possible patterns here. Let us see which one will take.
It was a nice trade to the upside, but I believe it would be time to take profits. If it pushes higher it will form a crab pattern. Which will lead to quite a lot of upside, so I couldn't fit it on the chart. Tomorrow will be the key. If it reverses my first target would be at 185.03, my second at 177.96. If it goes lower that will be a gift.
I see one of two things shaping up on Netflix. Notes are on the chart.
With the market currently raging to the upside these patterns could fail, because AMZN moves mostly with the market. But something I've learned is the more harmonic patterns completing at or near the same PRZ, the higher probability of it playing out. We are right at the PRZ for the AB=CD pattern that started in July of 2010. We are also at the PRZ for the 3...
The Bearish Butterfly isn't ideal... But being combined with the perfect Bearish AB=CD could be effective. GOOG could potentially touch $940 or $960 before reversing; but the odds are very slim. I see a double top happening and lower we go. My first target is at $600, which might be the main target. I see a similar scenario shaping up with GOOG that happened with...
This Bearish Crab completes at 911.0. Which is also where the Bearish AB=CD completes on the Monthly chart I posted. They both also have RSI BAMM. The RSI BAMM presented with the Bearish Crab is perfectly at the start and finish though. This accompanied with the Negative Divergences over the last 3 years across the board could cause this thing to be a falling...
This is by far my favorite pattern. The 1.618 extension on X-B with the RSI BAMM. It has a very high probability of playing out. My first target is major trendline support. If it fails to reverse through the 0.5 fib then further downside will proceed. I feel the same way about V as I do with MA. They have been in insane uptrends since 2010 I think it is logical to...
CMG daily chart to go with my monthly analysis. Looks like were heading for the .786 retracement instead of the 0.618. The Bearish crab completes around $398, but it will probably go to a solid $400. The pattern is perfect due to where it is. It coincides with the .786 retracement from it's decline at the $440 level, which is a perfect (aside from .618) bearish...