myceliium

myceliium Updated 

Looks like the bounce after the initial selloff has completed. Looking for a re-test of previous lows and perhaps even the creation of new lows. Hard to gauge how fast this will play out but holding 200P 6/18

myceliium

Markets may be about to correct. AMEX:IWM has been lagging the most and will probably lead the selloff. TZA would be good to hold for the next 2 months.

myceliium Updated 

quicklook: High probability that RH has come to the conclusion of its year-long rally. Long-term outlook on the left, short-term on the right. Since this idea covers weeks-months, won't go too in-depth but will try to post weekly updates Entered short position. on the pop to 575. Let's see how this goes

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I've been watching semiconductor stocks for sometime now and I've come to the conclusion that the sector is in a large cycle that is nearing completion. Doing a deeper dive I came across Broadcom and found that the cycle fit the wave pattern almost perfectly. Additionally, there seems to be an inverse head and shoulders on the lower timeframe. With this in mind, I...

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The last move on SPY was really out of the blue though at the same time not completely unexpected (gann 1/1 cross). I know that's a contradiction but when looking at the fIb levels SPY actually reached the level of a second wave completion which would make sense if this is the ending of the B wave of a correction. However, the strength of the last move has made me...

myceliium Updated 

Been charting the chop now and have started to find that it is helpful to chart both bullish and bearish scenarios since a healthy level of doubt is good for the longevity of any trading account At the moment, SPY seems to be in a corrective move after the rally from ~370 to ~398. The speed of the reversal today plus the strength of the selling felt...

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Bearish on Finance (see shiller PE ratio)

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I'm still somewhat bullish on NASDAQ:BIGC (been feeling uber bearish so going to post this long play for balance) Price is looking for support but larger market factors can lead to continued sell pressure. Accumulation is the name of the game here. Bearish divergence building since Dec. '21. Loose stop on this one. Targets and additional info on the chart.

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While most people consider the semiconductor shortage to be bullish for semiconductor stocks I believe there is a serious case for a bear scenario. With the supply chain this heavily disrupted it is possible that while margin will be high on individual sales the number of sales is lower considering the variance in the types of semiconductors that need to be...

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I'm using the 6HR timeframe for this one since it paints a picture of the Nasdaq still sitting in a cloud but below the 100 period and 200 period moving average - This suggests it is stoll at a point of indecision and has been unable to break through resistance. Additionally, a Bearish moving average cross can sometimes act like a magnet, drawing the price up...

myceliium Updated 

ew+fib forecast: Just for fun. Been looking at the shape of the recent movement and working to understand the possible ways this may play out. Three options (rally, selloff, consolidate) presented on the chart.

myceliium Updated 

I need to look at the monthly charts more. Looking at the houly and daily, I was conflicted on if AAL was a good buy but switching to the monthly, the picture became much clearer. There appears to be a larger multiyear correction completion the coincided with the strong selloff last March. A year from that time, the price has now more than doubled but it may only...

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Morgan Stanley’ analyst recently suggested investors should take profits in the Russell 2000 following the small-cap index’s big run higher in recent CNBC article - Looking at the Monthly, it is pretty clear why. As with most major indexes, there is some serious bearish divergence and fib resistance. Small caps have been on a tear and the Russell 200 had gapped up...

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SPY is at a significant fib resistance point on the Monthly - Could extend to the 4(~$430) but considering the lack of a significant pullback and the divergence on the macd and rsi, a minor correction here would make sense.

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SPY may be nearing completion based on wave count. Fed meeting on watch. Possible run up to low $400's before sell-off. Uncertainty is in the air so going to wait for confirmation before entering trade.

myceliium Updated 

@ae2326 Saving this quick sketch up for reference later. Thanks for the great insights

myceliium Updated 

Overstock looks like it's ready to retrace/correct to support. After a significant selloff from the previous high, the price retrieved up to a fairly significant level from what I believe to be the B wave of a larger ABC correction. Also, RSI is signaling a cool down from the rally is on the way. Price is likely to retest the previous low at some point within the...

myceliium Updated 

quick Idea: SPY just has a massive rally with no pullbacks and was not able to crack the previous high (yet). It's a risky short but price is resting below the 200MA on the 1HR so has not completely broken out of resistance. I see this playing out as a ABC correction with ~370 as the C wave completion.