The market seems to have priced in most of the effects of corona, testing and vaccinations will boost outlook and most of the panic selling has been accounted for
Spy almost finished forming a bullish wedge, and the chart is showing the correction waves coming in tomorrow. I think the market is just proped up by the rate cut and a surprising Biden win of Super Tuesday. New developments of the coronavirus will definitely hit the news and panic will return as it is just making ground in the US and negative supply chain...
The incredible upward moves made by spy are now being corrected. Watching closely for reports and updates on the Coronavirus which will play a huge role in the market. I think it is very smart to hedge over the weekend. Monday might be a green day as some government will try to pump the markets to counteract fears of the virus' effects. This might be the movement...
My hourly chart is showing a cup and handle pattern. Hopefully the handle pattern finishes by the end of this week and the stock shoots up next week. Hopefully reports of coronavirus do not hinder the run next week.
Amazon broke my earlier patter as I expected but the market had a huge sell-off today. My chart is showing a great squeeze set up. I think the bulls will buy the dip.
BYND is about to have its earnings, I am expecting it to continue this pattern until the run up to earnings and then the stock will plummet thanks to the lackluster sales of the "beyond burgers".
Snapchat stock is starting an Elliot Wave pattern after its recent earnings hit. It is profitable for the first time since its IPO and the future looks bright. Targeting to be above $18 by the end of the week.
Amazon should've broken out of the wedge earlier this week but coronavirus reports caused fears and selling. This is creating a downtrend currently but as more information comes out about the pentagon contract, it can be a huge win for AMZN and the stock will easily break out of the pattern.
Today's big move was met with a lot of choppiness, a lot of firms taking profits, not allowing the stock to move up as much. Showing a pattern of chop before a big move. Still targeting 2200 by the end of the week.
