Still expect this to close the gap. Opened a short position yesterday when I went long on TSLA, dumped TSLA this morning but kept the W puts. Bare minimum I think this retests the $135 support next week based on chart patterns.
Any idiot can re-sell products at a loss, just go ask Byrne over at OSTK. (That guy is hilarious, keeps buying cryptos at the peak,...
When in doubt short overbloated garbage like WK and W.
Starting to see divergence and distribution as well, and absolutely no volume today. This stock has absolutely no liquidity, if there's a big sell order, it'll go down in a hurry.
Worst case I think it tanks next earnings. Small short position.
We all waited 2 years for this crap to tank, and I missed out on it, lol. No support until you pull up a 3 year chart, right around the $180 level.
Oversold on RSI, divergence on MFI. Might consider going long if it throws a reversal pattern later this week, looks pretty weak today.
With $10B in debt and all of the big manufacturers coming out with electric...
Went long on a couple of stocks overnight, dropped them at the upper trendline. Have a feeling we're gonna make a pennant here, I guess we'll find out in a day or two which way it breaks. Not sure why MFI isn't working anymore, but there's divergence on the hourly. That being said, it looks a lot like the late March reversal, so good chance it can go up. Last...
Rate inversion again as predicted, right on top of the line I drew. Definitely a potential for things to get ugly. Be careful if buying the dip. All cash right now, and if I buy in, it's daytrading only.
Despite the massive tank this morning, futures (3 hr chart) and SPX (2 hr chart) are not oversold yet. If you're aiming to do a quick trade on a bounce, probably better to wait until tomorrow, or if you want to be safe wait for positive divergence on MFI chart.
All cash right now.
Personally, I think the tariffs are gonna send the country into recession, but you can't deny the accumulation (on SPY and SPX). There's a possibility that the market will totally ignore tariffs and fundamentals in general. If that's the case, and this thing gets pumptarded then it's making an ascending expanding wedgie. Typically they only happen with...
Seems like we're just whipsawing like crazy this week. One thing I noticed is that the indices will rally when oversold on the hourly (or 2hr which I prefer). Obvious opportunity for day trading, buy the dips and don't hold anything overnight until the computerz decide to sart pumping futurez overnight again.
Futures don't seem to follow through on anything the...
So I cleaned up the charts a bit. We got a pop as expected due to the positive divergence, and we broke one trendline, but there's another one above (dash lines). Not sure which one is the true wedge, the dash line appears to be creating some resistance.
Assuming the solid line is the wedge, I drew up the wedge breakout target. Seems lately that the market...
Positive divergence on my usual chart, market wants to bounce. However, the tariffs start at 12:01am, and the Chinese can retaliate.
Feels like it wants to go up, but futures are weak already. Down 5 pts already. I guess we'll find out tomorrow morning.
The wedge broke but the rally isn't over until it breaks the channel, much like last summer. Depending on what happens with China the next few days, we either see another leg up or another leg down.
Keep an eye on the possible rate inversion... I've got a chart posted.