Major support at 1900. There has been October/November options flow purchased last week for gold stocks; WPM, GOLD and GLD. FOMC decision is on wednesday and expect more dovishness from JPowell. Longer lower rates, until a vaccine is approved. Trump wants a lower dollar as well, so its all working out for his election needs.
Backtested the breakout point ($72.1) on Sep 4 or pivot point and held the 20 SMA. Earnings whisper is expecting .13c EPS and $560 mill revenue. Previous Q was $524 Mill, which was a beat. Bullish option flow bought Sep 2 - Over 4000 Sep 11 $120 calls bought and 2900 $110 calls (These would be all down). Bearish flow - On sep 1, Oct/ Jan 2021 call spread $80...
IYT Transport Golden cross on Aug 21, looking for continuation. You can see the accumulation candles in the chart. The top 4 holdings are FDX, UNP, NSC and KSU, which make up over 40% of ETF. Using seasonality charts, IYT in sept is up 2.5% the past 4 years.
Happy Labour day weekend traders! Looking at banks here, BAC and JPM with Ascending triangles, possible breakout in banks. A test of the 200 SMA would be 27.28. Recent option flow, 3200 Nov $28 calls for BAC. JPM - over 5000 for Nov $110 calls. I will post some more charts later. Enjoy!
Litecoin - Almost 4 months of consolidation, up 40% in 11 days. $64 and $70 would be next targets from Fib levels. RSI has more room to upside. Bollinger bands squeeze break outs for the big 3 BTC , ETH and LTC. I think this is due to USD falling to 52 week lows and the FED stating they will keep printing fiat, therefore increasing assets like metals and crypto....
NEM Rising channel, heading to 2 week high of $68.88. Newmont is the world largest gold producer and ready to hit 52 week highs. The gold miners have lagged GC futures and GLD etf. Barrick gold is the 2nd largest producer and has a perfect ascending triangle. With FOMC july 30th, I expect these to breakout before and I would take some profits before known event....
On July 24th, SLV closing over the 2016 August high of $19.71. The next Fibonacci level (.786) is $23.48, then $26.93. On the options market, August calls for $22 was over 7000. Sept $22 calls over 12000. July 23rd, a $24/29 October call spread bought 20k in volume. FOMC meeting is July 30th and expecting jpow to say they are printing more money. Hope you all are...
LRCX is currently in a rising channel, I saw bullish weekly options flow for the July 10 $340 calls. $2.3 million worth, so its quite a bit for a weekly. Rising RSI. Hope your having a great July 4th long weekend!
Head and shoulders on 4 hr, FIB levels - .382 fib is $34.58, .50 level $32.83. Neckline for confirmation is $35.96. I am in SCO - Oil bear 3x etf and double inside day on chart. Covid news with some states spiking up with places re-opening. This would be bearish same sectors that fell in march. Happy trading, GL!
GLD - 2 months of consolidation leading to expansion, after June 19th jerome powell speach. I saw options July and Sept call flow for GLD, NEM, GDX and SSRM. If Gold futures closes over $1750, that would be confirmation of uptrend. The FED will keep inflating market, also Hedge funds are fully vested into markets as well. Seasonality - charts.equityclock.com
Bullish on daily TF, as long as $62.75 holds. Fib levels shown below. Weekly - Possible cup forming and bull flag, but there is bearish RSI devergence. Options - On Friday, April 17, 2020 , 3,850 contracts were bought of the $72.50 call expiring on Friday, May 15, 2020, which are still in OI. 8.5% Move expected. May 8 P/C ratio .42, May 15 P/C ratio .25. Q1...
Break above $62.6 last week after 2 inside daily candles. and back tested level, possible break out further to all time highs $73. Online companies have been on fire, like SHOP and Wayfair. Earnings May 6, but this has run quite a bit. May options interest $70 calls with 1295, June $65 calls with over 6000 OI and $75 calls over 2200 OI. There isnt a chart pattern,...
Weird price action for GLD last thursday, as gold futures were up 2% and GLD was only up 2.6%. While senior gold miners index were up 10%, such as NUGT or NEM exploded for 13%. Possible bearish triple top or bullish Inverse Head and shoulders? April 7 COT report was mixed as well, Non-Commmercials were Long, while Commercials were short. FOMC is not for 3 weeks,...
Sorry, this is my 1st video...haha. I work FT, so I have mainly been scalping the past 2 months. April 6th, markets gapped up 4-5% at open, price was above VWAP in entries. I waited for premiums to go down and usual sell off in 1st hour. I use 15 and 30 min timeframes for scalping. I entered the weekly 2050 call at 10:50 for 10%, then bought and sold my 2nd call...
WW Hitting .618 Fib level (47.86) and top trend line resistance. No catalyst until earnings Feb 24, I would wait for $47 and then go short. If it closes above $47.86 , go long. Short Int is 10% (Finviz) , nothing major. Seasonality for January is weak.
NTNX - Golden Cross (50 SMA crosses above 200 SMA), MACD crossing up , Cloud sector stock showing bullish signals and could hit $37.5 for form a cup. NOW also golden cross. US-China Phase 1 trade signing is is Jan 15th, so be cautious with risk size. Feb 21 $35 calls would be good option. Sorry, I havent published in awhile...
MSFT is set to report Wed oct 23 after close and I have set up an Iron condor, based on 5% Implied move. On Oct 18th, I STO Nov 1 Calls 142/144 and Nov 1 STO 132/130 Puts and received 90c credit. MSFT has not missed earnings in 13 quarters. It has been coiled for awhile, so it my move more than normal. GL!
ITB Homebuilders 3x ETF, weekly chart has more room to run. Daily chart is ready for break out. Inverse H and S . LEN , KBH and DHI all had great earnings reports recently. Above $46.35 would be all time highs. The FED should be cutting rates again with the Oct 4th economic data, so more bullishness for homebuilders. Good luck!