Let's see what the chart says - 1. Gap over the daily SMA200. Talk about bullish! 2. Divergence reset. Now, there is room for more upside. There are very few instances on SPY daily where the divergence was broken and last time it happened, the upside was huge. I will post another chart to show where. 3. Volume is getting lower and lower. There are no sellers. Only...
Divergences are much clearer on the 4 hr chart. Overbought too.
Seems like $120 on QQQ is "fate". Been there twice before from the underside and this harmonic is warning of a visit from the upside. I hope not. This will decimate the dominance of US in technology. What would bring about such change? I can't fathom. Praying this harmonic never plays out. Interestingly, we were at 120 not too long ago. In 2016! Things were not...
Sounds silly. Probably is. No divergences, good solid higher highs. Everything points to NFLX going higher. COVID gave NFLX a lot of new customers, many of whom will stick around after this mess is over (will it ever?) Yet, when the economy opens up there will be pressure on NFLX. Clearly, it is the market leader but its story surely has woken up sleeping giants...
I am not into techno currencies. Has to have a state and society backing a currency. None of these "currencies" have any attraction among the folks of regular society. Good luck!
The 50 SMA ticked up after many weeks. It coincided with higher highs just below the 200SMA looking like a blow-off top. I think this means a rush to the 50 SMA for a test. Again, this not Armageddon. A great buy the dip opportunity. Printing press is not yet in full swing. You ain't seen printing yet. Caveat Emptor and good luck!
Updated the giant Butterfly harmonic painting over Qqq. Has it seen its best price? The harmonic becomes invalid when C races over A. As I mentioned in SPY idea also, when the SMA changes direction, it pulls the market towards it for a test. Qqq has been the strongest amongst the indexes but is due a test of the SMA50 that turned up a while ago.
Pretty strong move by GE lifting over 50 & 200 SMA on the hourly with a gap up. Will it see a continued recovery in price? It is now or never. I would be bullish if it can successfully test this breakout.
Looks like SPY is ready to explode. With all this momentum built up, it will go up like a rocket. QQQ closed its gap today. Surely, there must be a number SPY is aiming for. 300? Maybe.
The numbers are very well aligned for this butterfly. It is a bullish sign so the market will retrace XA from D. This lines up with 265 on SPY or the fib close to it. Caveat Emptor and good luck!
I believe 285 is some sort of important line and the market closed above it today. However, I am short into the next week. Good luck!
I am preferential to a small "move" to 265 before we blast higher on SPY. Last two days of previous week appeared to be a retrace within a retrace on path to 265 on SPY. However, we are at a critical time now. The real market moves are made when the US market is sleeping. Will we gap up tomorrow or gap down? Bearish outlook: We need to turn around and head south...
The day a bear jumps out from his skin and goes long is the day the market goes down. Dear Friends, This is not Armageddon. We are not going to set new lows nor new highs for a while. The reason is the Fed put and CARES-2 on one hand and the shitty economy on the other. This fake movement is to get the VIX flowing again so 'real money' can be made by MM in...
The market chose to make a slightly lower low in the next candle but then went back to the expected programming. Updated the chart and added some possible retrace markers. I am rooting for 0.386 retrace as there is a bigger harmonic this is a part of that takes us down to 265 on SPY. Continuation of the previous idea.
In the last chart I fell prey to the same insecurities that plague less experienced traders like myself. We visualize our convictions on the market rather than going with the flow. I present two possible bearish harmonics on SPY objectively. This index is most closely aligned with Fibs. In the most likely case (Fed intervention mutes wild swings), we back down to...